Breaking Free: Leaving the W2 Grind & Building Income through Real Estate with K Trevor Thompson

Passive Wealth Strategy Show - Real Estate for Busy Pros

In this episode, K Trevor Thompson, a former corporate professional turned real estate investor, shares his journey of building a passive income through real estate investing and eventually transitioning to the active side. Trevor emphasizes the power of compound interest and reinvestment in real estate for financial independence. He discusses passive and active investing lessons, including mistakes and successes, that provide valuable insights for those interested in leaving the corporate world for real estate investing. Trevor also shares his challenges as an active investor, including losing money on his first deal. He advises learning from these experiences and moving forward. Join us to learn from Trevor's experience and expertise!

[00:01 - 08:52] From Corporate Opening Segment

• Introducing Trevor to the show
• He learned about passive real estate investing and eventually became an active investor after leaving his W2 job during Covid
• Trevor's story offers valuable lessons for those wanting to leave the corporate world and build passive income

[08:53 - 14:43] Challenges and Lessons Learned in Transitioning from Passive to Active Investing During the Pandemic

• How Trevor switched to full-time real estate investing and is primarily a passive investor
• How Trevor was let go from their corporate job in May 2020 but qualified for professional real estate status
• The transition was tough mentally, but they persevered and started looking for deals on the active side

[14:44 - 22:46] The Importance of Networking and Due Diligence in Passive Investments

• Loan assumption deal at 71% LTV for a $240 million property
• Lesson learned: giving away all power in a deal can be risky
• Loan assumptions are tricky and not consistently profitable for lenders
• Networking and volunteering at events helped level up and connect with higher-level people in the industry
• Who you give your money to is the most critical factor in passive investing

[22:47 - 28:19] Trevor's Winning and Losing Investment Experiences

• It's vital to vet sponsors and have proper insurance in place
• Patience is key when building passive income before leaving the corporate world
• Education and learning from mentors are crucial for success in real estate investing

[28:20 - 32:36] Closing Segment

• Best investment: a real estate deal in Tucson, Arizona
• Worst investment: a current investment that had a fire
• The most important lesson learned: showing up and giving energy

Quotes:

"So if you invest a hundred thousand dollars, that goes to two. Invest it again, and it goes to four. Invest it again, and it goes to eight. Invest it again, and it goes to 1.6. Invest it again, and it goes to 3.2 million. That's 25 years. So think about that. If you only made one investment at 35 or 25 and you let it roll, the difference is life altering because you're reinvesting" - K Trevor Thompson

Connect with Trevor:

LinkedIn: https://www.linkedin.com/in/ktrevorthompson/

Website: www.niagara-investments.com

YouTube: https://www.youtube.com/@KTrevorThompson

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

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