From Firefighter to Financial Freedom thru Real Estate with Seth Teagle

Passive Wealth Strategy Show - Real Estate for Busy Pros

Seth Teagle is a former firefighter and paramedic who achieved financial independence through real estate investing after 22 years. He is passionate about creating generational wealth for The Stream Group's investors. He is also well-known in the multifamily real estate industry for educating others with similar backgrounds.

In this episode, Seth shares his inspiring journey of transitioning from a physically demanding career to real estate investing and how his first 50-unit acquisition yielded $1M. He shares his story of getting started in real estate and how he invested in himself, his skills, and his network to close his first 50-unit multifamily deal. From there, he scaled up to operate over $185 million in commercial real estate.

Tune in to gain valuable insights and inspiration for your real estate investment journeys!

[00:00 - 07:49] Opening Segment

• Seth Teagle is a former firefighter and paramedic who became financially independent through real estate investing
• His first deal was a 50-unit multifamily property that he got into after building his network and skills
• Seth's journey started when he realized he needed to make more money to support his growing family and met a college roommate who was a successful real estate investor

[07:50 - 14:53] From Working for Free to Closing a 50-Unit Apartment Deal

• Seth worked for a mentor for 14 months for free to gain knowledge and skills
• He took a pay cut and invested in himself to build a resume for future deals
• Brought in one investor and accessed home equity line of credit to purchase 50 unit property
• Seth had to bring in a hard money lender at the end due to an unexpected increase in the down payment
• Different banks' appetites for loans and types of real estate they are interested in

[14:54 - 21:18] From Rejection to Success: Overcoming Roadblocks

• Seth shares how he struggled to find a bank to finance their first real estate deal due to a lack of experience and network
• The property experienced high vacancy rates and required significant renovations, leading the speaker to raise private capital
• Despite working long hours and facing personal risk, Seth completed the project and refinanced with significant equity.
• The experience inspired Seth to pursue real estate investing as a career.
• Key lessons include pushing beyond comfort zones, being vulnerable, and persevering through challenges

[21:19 - 26:33] How Networking and Adding Value Led to a Successful Real Estate Career

• Actively listening for opportunities to provide value and fill a role that others couldn't
• Recognizing the importance of successful people's time and offering to pay for it
• Valuing action takers and giving them specific action steps to take

[26:34 - 31:57] Closing Segment

• Best investment: Seth's first deal
• Worst investment: buying a 40-unit property
• The most important lesson learned: hiring A players

Quotes:

"Understand that if they're super successful, their time is valuable." - Seth Teagle

"I just had to push myself beyond my comfort zone and know it would hurt. You have to push through that." - Seth Teagle

"If somebody gives you a crack in the door, they kind of give you a little bit of glimmer of hope that they'll talk to you, then do everything they say." - Seth Teagle

"Hire A players and terminate the C players or not hire them at all." - Seth Teagle

Connect with Seth!

Investing: https://www.thestreamgroups.com

Mentoring: https://www.thefirehousebros.com

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

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

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

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