Podcast Summary
From NFL player to successful real estate investor: The power of perseverance: Former NFL player Dean Rogers transformed financial setbacks into success by persevering, building strong networks, taking action, and approaching deals with a long-term perspective.
With determination and resilience, it's possible to transform financial setbacks into success stories. In today's episode of the Bigger Pockets Real Estate Podcast, Rob and David interviewed Dean Rogers, a former NFL player who faced financial struggles after leaving the league but went on to become a successful real estate investor. Despite making some mistakes along the way, Dean's story demonstrates the importance of perseverance and building strong networks in the industry. Another key takeaway is the value of taking action and being open to new opportunities. As Dean shared, he made his first real estate deal within three months of deciding to pursue investing. He also emphasized the importance of treating every deal as if it were being made with grandparents' money, which can help investors approach transactions with a long-term perspective and a focus on building wealth. Additionally, the episode featured a quick tip to make that extra phone call and a promotion for Rent to Retirement, which offers investors the opportunity to purchase turnkey rental properties with little to no money down. Overall, this episode provided valuable insights and practical advice for anyone looking to get started in real estate investing.
Passive Income through Real Estate Investing with Mortgage Funds: Earn passive income through lending to house flippers with Pine Financial Group's mortgage fund, offering a 8% preferred return and 70% of net profits, secured by senior lien holder status and a rigorous underwriting process, supporting local economies by directing funds from Wall Street to Main Street.
Real estate investing offers attractive returns, but not everyone wants the hassle of managing tenants and property maintenance. For those seeking truly passive income, Pine Financial Group's mortgage fund provides a targeted 8% preferred return and 70% of net profits, allowing investors to earn passive income through lending to house flippers. This investment comes with security due to senior lien holder status and a rigorous underwriting process. Moreover, it supports local economies by directing funds from Wall Street to Main Street. Dean Rogers, a successful real estate investor and former NFL player, shares his inspiring journey from underdog to professional athlete and investor. Despite not being the biggest, strongest, or fastest, he remained consistent and was eventually drafted into the NFL. His dedication and hard work paid off, leading him to a successful career in both football and real estate.
From fish out of water to battering ram: Despite the glamour of the NFL, unexpected challenges can force a reevaluation of one's career.
The NFL experience was a surreal blend of intense competition and glamour, filled with validation and challenges. The speaker shared how he felt like a fish out of water amidst supermodels and fans, but also felt a sense of belonging with coaches like Norv Turner believing in his potential. However, a significant shift in position from tight end to fullback brought new challenges, as he transformed into a human battering ram, enduring massive impacts that eventually forced him to ice his head for the first time. This unexpected challenge ultimately led him to reconsider his football career.
Leaving a 7-figure salary and NFL identity: Former NFL player left career for health concerns, struggled with identity loss despite lack of contingency plan
The speaker, a former NFL player, made a difficult decision to leave his 7-figure salary and the identity that came with being a professional athlete, despite the allure of relationships and connections within the league. He did so due to concerns about his health and the potential long-term damage from playing football. Despite having no clear contingency plan, he knew he had to leave and couldn't look back. The speaker emphasized that the identity and status associated with being a professional athlete are significant and can be challenging to give up. This struggle with identity is a common theme for athletes in retirement or during career transitions.
Identity and relationships during times of transition: Maintaining relationships and having a clear sense of identity are crucial during times of transition. Hard work and determination are necessary to achieve long-term goals, but financial success may not come as quickly or easily as anticipated.
Identity and relationships are crucial in personal and professional growth. The interviewee shared how his identity as a premier athlete made it difficult for him to adjust after retirement and build new relationships and opportunities. He missed out on networking during this time, but eventually found a job in a tech company through a college friend. Despite the lower salary, he worked hard to prove himself, but was disappointed by the lack of significant pay raises. This experience highlights the importance of maintaining relationships and having a clear sense of identity, especially during times of transition. Additionally, it underscores the reality that financial success may not come as quickly or easily as anticipated, and that hard work and determination are necessary to achieve long-term goals.
Focus on skills and opportunities, not longevity and loyalty: Building valuable skills and seeking new opportunities can lead to financial growth and independence through real estate investing.
In today's job market, it's essential to focus on building valuable skills and continuously look for new opportunities instead of relying solely on longevity and loyalty. The speaker shares his experience of jumping around jobs to increase his salary and how real estate became an attractive alternative for him due to its potential for financial growth and the transferability of valuable skills. He emphasizes the importance of paying attention to the skills one is building and ensuring they are useful in today's society. The speaker's personal story highlights how real estate investing can provide a path to financial independence and living life on one's own terms.
Discovering valuable information and taking action can lead to success: Despite financial constraints, taking action on free podcast knowledge led to successful real estate sale and newfound sense of purpose
Taking action on valuable information, even when resources are limited, can lead to significant success. The speaker's discovery of real estate investing through a free podcast and subsequent experience with wholesaling proved to be a game-changer for him, despite initial financial constraints. The story also highlights the importance of perseverance and not giving up during tough times, as the speaker's determination paid off with a successful sale and a newfound sense of clarity and purpose. This moment of clarity can be a beacon of hope during difficult times, providing the motivation to keep pushing forward and ultimately achieve success.
Overcoming challenges on the path to success: Gaining clarity and persistence can lead to great rewards during challenging life changes. Affordable landlord insurance from steadily.com and therapy from BetterHelp can help make the process smoother.
Starting a new venture or making a significant life change can be a challenging and difficult process, but gaining clarity and persistence can lead to great rewards. The speaker shared his personal experience of going through an identity crisis and financial struggles before achieving success. He emphasized that everyone goes through tough moments, especially during the beginning stages, and it's essential to remember that making a living can be hard, especially with various expenses like student loans and rent. The speaker's story serves as an inspiration for those who may be going through similar experiences. Additionally, the speaker mentioned the importance of having the right tools and resources to make the process smoother. He highlighted the importance of fast and affordable landlord insurance from steadily.com, which can save time and money for modern investors. Lastly, the speaker mentioned the benefits of therapy from BetterHelp, which can help individuals discover what truly matters to them and accomplish more with less stress and more clarity.
Lessons from a Real Estate Investor's Journey: Experience and perseverance are key in real estate investing. Careful research, reliable contractors, and accurate comps are essential. Trust your instincts and avoid quick profits.
Experience and perseverance are crucial in real estate investing. The speaker shares his journey of transitioning from wholesaling to fix and flip, only to face significant losses in his first attempts. He learned the importance of careful research, reliable contractors, and accurate comps. Despite the setbacks, he continued to learn and adapt, eventually turning things around. Another lesson he emphasizes is the importance of trusting your instincts and not being blinded by the desire for quick profits. Overall, his story underscores the importance of staying committed and learning from mistakes in the real estate investing world. Sign up for DealMachine to streamline your lead management and discover more opportunities for growth.
Don't ignore red flags in deals: Always do your own due diligence to ensure a good deal, even if it means missing a potential opportunity. A bad deal can cause significant financial and emotional damage.
No deal is worth compromising your due diligence. The speaker shares a personal experience of investing in a new construction deal outside of their expertise, ignoring red flags, and not verifying information. They learned the hard way that it's better to do no deal than a bad deal. Successful people make this mistake too, and it's easy to rely on others' due diligence, but the undertow of the ocean can be strong, and one wrong deal can cause significant pain and heartache. Always make that extra phone call and do your own research to ensure the security of your investments. The speaker's grandparents, who had survived World War 2 and immigrated to the United States, had saved up a considerable amount of money for their investment. Losing it due to a bad deal would have been devastating.
Lesson learned from a real estate scam: Always do thorough research and communicate openly before making significant financial commitments to avoid potential scams and losses.
Due diligence is crucial before making any significant financial commitments. The speaker learned this lesson the hard way when he was scammed out of his grandparents' money in a real estate deal. He discovered that the plans, permits, and financing were all based on false information, leaving him in a disastrous situation. He spent the next year trying to recover the losses and learned the importance of communication and transparency. If he had reached out to the construction financing company before the deal was finalized, he could have avoided the entire ordeal. Another valuable lesson he took away was his determination to fight through adversity, no matter how difficult the situation may seem. Despite the setbacks, he remained committed to his goals and found success in the NFL through hard work and dedication.
Learning from personal experiences to build strong relationships: Through personal experiences, prioritize due diligence, communication, and putting lenders' interests first to build strong relationships and expand opportunities.
Personal experience shapes our borrowing strategy and how we treat other people's money. After facing financial challenges, the speaker learned the importance of due diligence, communication, and putting the lender's interests first. This experience led him to prioritize building strong relationships with other investors, realtors, and wholesalers. He calls this approach his "friends with benefits program," which started with a meetup and later expanded to social media. By sharing knowledge and helping others, he built trust and reciprocity, leading to more deals and opportunities. Ultimately, the speaker's personal growth and business success stem from a commitment to learning from setbacks, treating others well, and fostering strong relationships.
Collaboration in Real Estate Leads to Mutual Benefits: Collaborate with others in real estate to expand network, learn, and grow. Maintain a positive attitude towards success and continuously strive for improvement.
Building a successful real estate business involves not only closing deals but also helping others do the same. This collaborative approach not only leads to mutual benefits but also helps in expanding the business network. The speaker's journey from seeking help on a podcast to becoming a mentor for others is a testament to the potential for growth and the importance of learning from experiences. Despite achieving significant success, the speaker maintains a sense of excitement and a desire to continue growing, viewing their current accomplishments as just the beginning. Additionally, the speaker compares the experience of making "NFL money" in real estate versus in the NFL, highlighting the unique advantages and challenges of each. Overall, the key takeaway is the importance of collaboration, continuous growth, and maintaining a positive attitude towards achieving success.
Take action and build good habits for success: To achieve success in real estate or any endeavor, dedicate yourself, put in the work, and build good habits. Connect with others and be open to new relationships for growth.
Success in real estate, or any endeavor, requires dedication and action. Dean Rogers emphasizes the importance of putting in the work and not relying on others to do it for you. He encourages those seeking to improve their lives and pursue opportunities beyond the 9 to 5 to be willing to take action and build good habits. Both Dean and Rob emphasize the value of connecting with others and being open to new relationships. To learn more about Dean and his coaching program, follow him on Instagram @DeanRogersRealEstate or visit his website deanrogers.com. For real estate advice, reach out to Dean, and for football advice, contact Rob. And for a variety of financial and life advice, find David at davidgreen24 on Instagram or at davidgreen24.com. Remember, financial freedom is a goal worth pursuing, and the best investors understand that it's not about timing the market, but rather, about being in the market consistently. If you're ready to take the next step in real estate investing, use BiggerPockets Agent Finder to connect with an investor-friendly agent who can help guide you through the process.
Find investor-friendly real estate agents on biggerpockets.com/deals: Remember, past performance doesn't guarantee future results and consult with qualified advisors before investing in real estate, but you can find potential investor-friendly agents on biggerpockets.com/deals.
If you're looking for an investor-friendly real estate agent, you can check out biggerpockets.com/deals. However, it's important to remember that past performance is not a guarantee of future results, and all opinions expressed in this podcast are those of the individuals speaking and not necessarily reflective of BiggerPockets LLC. Investing in real estate, like any other asset, carries risk, so be sure to consult with qualified advisors before making any investment decisions and only risk capital you can afford to lose. BiggerPockets LLC disclaims all liability for any damages arising from the use of information presented in this podcast.
