10. Finding Purpose Through Real Estate: A Father's Journey

The Contagious Thoughts Podcast

SUMMARY

Thurston Howard, a chemical engineer by trade who is building a real estate empire in southern VA, shares his journey from taking a chance on real estate during COVID to successfully completing over 100 wholesale deals and transitioning into flipping properties. He discusses the difference between the 9-to-5 life and entrepreneurship, emphasizing the need for discipline and time management. Thurston also highlights the importance of balancing personal life and business, creating your own schedule, and maintaining a strong work ethic. The conversation explores the motivation and drive behind their goals and the balance between personal fulfillment and family goals. They discuss the challenges and rewards of running a business with a spouse, highlighting the need for effective communication and role definition.

There were several questions from listeners and the patron group that were discussed on the show. Some additional questions will be available for the members of The Contagious Collective (Patreon group). They discuss the concept of creative financing and seller financing and the risks and benefits of taking over a mortgage. Thurston also shares insights on flipping properties and the differences between flipping and renting properties. He discusses his real estate courses and mentorship program, as well as the importance of building a real estate team and implementing efficient systems.

TAKEAWAYS

• Taking calculated risks can lead to unexpected success.
• Entrepreneurship requires discipline, time management, and a strong work ethic.
• Balancing personal life and business is crucial for long-term success.
• Creating your own schedule allows for flexibility and the ability to prioritize family and personal commitments. Creative financing strategies like owner financing and subject-to financing can provide alternative options for purchasing properties.
• Flipping properties can be a profitable strategy, but it requires careful planning and renovation costs.
• Building a real estate team and implementing efficient systems can help streamline business operations.
• Consider the benefits and risks of different real estate investment strategies, such as flipping, renting, and Airbnb.
• When buying a property in a high-cost area with debt, explore creative financing options and seek guidance from experienced professionals.

CHAPTERS

[00:00] - Intro

[03:34] - How They Know Each Other

[06:49] - Taking a Chance on Real Estate

[10:20] - First Wholesale Deal

[20:21] - The Difference Between 9-to-5 and Entrepreneurship

[29:37] - Being Ready For A Golden Opportunity

[34:04] - Nipsey Hustle Quote

[35:04] - Should You Ever Give Up On Your Dreams?

[42:26] - Do You Really Do This For Your Family?

[50:35] - Running A Business With Your Spouse

[58:31] - The Value of Patreon Support

[01:00:16] - Passion vs. Money in Real Estate

[01:01:28] - Downsides & Upsides To Real Estate

[01:06:09] - Understanding Creative Financing and Seller Financing

[01:08:14] - Owner Financing and Subject-to Financing

[01:14:08] - Real Estate Classes & Programs

[01:20:53] - Celebrities Who Have Worked With Thurston

[01:21:59] - Flipsvs. Rentals vs. Airbnb?

[01:27:58] - Difference Between Residential & Commercial?

[01:13:12] - When Should You Build A Team?

[01:31:39] - No Regrets Segment Of The Show

[01:38:21] - Outro

JOIN THE CONTAGIOUS COLLECTIVE - GET EXCLUSIVE VIP CONTENT FOR $5/MONTH

Patreon: https://www.patreon.com/user?u=110294242o

SOCIAL MEDIA & MERCH:

Website: www.thecontagiousthoughtspodcast.com

Instagram: https://www.instagram.com/thecontagiousthoughtspodcast/

Facebook: https://www.facebook.com/profile.php?id=61553985137858

Youtube: https://www.youtube.com/channel/UC6uNemNbeNU_qoHJ9ykCxcA

TikTok: https://www.tiktok.com/@thecontagiousthoughtspod

FIND THURSTON'S INFO:

Instagram: https://www.instagram.com/_thurst_/

Facebook: https://www.facebook.com/profile.php?id=100063698133156

Website: https://www.howardpd.com/

Courses: https://www.howardpd.com/services

NEXT EPISODE:

We are in for a special treat, stay tuned!

Created by Darwin with the help of AI.