Episode 107 – Johnny Lynum on The Military Millionaire Podcast

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Episode 107 – Johnny Lynum on The Military Millionaire Podcast

 

00:00 - 05:00

Intro:

You're listening to the military millionaire podcast, a show about real estate investing for the working class. Stay tuned as we explore ways to help you improve your finances, build wealth through real estate, and become a person that is worth knowing.

Sponsor:

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David:

What's up military millionaires. I'm your host, David Pere. And I am here with Johnny Lynum, who is a lieutenant colonel in the United States Air Force still active duty which is always fun for me to get active duty fellows and ladies on the podcast.

And today we're going to be talking about his journey through real estate investing. And so Johnny has done some house flips, some wholesaling. He's done. He's got 26 units right now including, most recently a syndication project, which is cool, especially because it was with other people that I know so that's even cooler and yeah, so we're gonna walk through this and have some fun. So Johnny, welcome to the show.

Johnny:

Thank you, David. Glad to be here.

David:

Yeah. Tell the listeners a little bit about yourself.

Johnny:

Yeah, as you mentioned, I have been in the Air Force now almost 15 years. Started in real estate all the way back in 2006 when I bought my first home, in Warner, Robins, Georgia.

Um, but yeah, leading up to that was born in Detroit, Michigan, stayed there for about eight years and then relocated with my parents to Alabama call it LA lower Alabama, down in the sticks. But, uh, but no, we grew up there and Alabama, graduated high school, uniquely enough. I actually had a four year Army ROTC scholarship out of high school and did the interview and my dad was a Vietnam vet told me like, hey, you know, you probably should go and talk to the Air Force guys on campus. And so I did. They didn't promise me a scholarship, start school but they told me if I came in and did well one semester, then they would send me a message. second semester so I took them for their word and the rest is history in and oh graduated Razzi University Alabama commission, let your engineer background but now primarily a developmental engineer doing program management project management, which kind of helped with the real estate stuff.

But that's kind of my story. And then from there, you know, just using my VA loan and oh six, no bought a little house for 65k there Warner Robins, Georgia PC’s and then took it in, brought on the property management company and kind of turned into my first rental in which I've always been interested in real estate. No, you can ask my wife and she'll tell you how she when we were dating, she will come down on the weekend. And we're going to make it into a real event. And we actually had William tingle for those that follow like subject 2 he's like the subject 2 King he was the base there to make it.

So we always kind of been interested in real estate and it just kind of evolved with relocating to the new wews area and found a foreclosure buying a house they're doing the same thing in Northern Virginia. We relocated there in 2013 and found a HUD foreclosure that we purchased and during that time frame I was working at a federal agency there outside the DC area and just managing a over a $1 billion contract no negotiating hundred million dollar contract extensions and things like that. I was like wow, you know, I just negotiated this saying to the government over $10 million, like my paychecks the same. You're gonna be kidding man it was like okay, I got it. Like I can not, I can do this myself. We had a couple of rooms, we had a couple section eight houses in Birmingham, Alabama when life is wrong. We're gonna do a flip. We're gonna we're gonna do a project you know, I can manage the project. And we found an opportunity to get a bank of America foreclosure and bought it off the auction website. It's crazy.

05:00 - 10:00

Johnny:

First time using hard money. First time doing a major project was spending like over 70,000 on the project I was managing, I had to hire all my subs between Craigslist. You know, some of the houses, put in a project on some of the apps and it gave you some local contractors to help.

But it actually it gave, we didn't make a ton of money. I mean, they're making like 15k. But if we had motivation, we had a pool. We built a kitchen from scratch bathrooms, and I really had a great GC who was architect Nailou. And she just helped me through the whole process with teaching me along the way. And I still use all those experiences to this day, what we're doing down to Panama City area that we relocated, and just live into hurricane Michael an opportunity that we ended up getting presented here with just having a lot of dilapidated houses and people just looking to sail for cash and be done with it. And yeah, last year was our best year and it kind of just took off and grew and took a life of his own.

David:

That's awesome. And I mean, you might have only made 15k but sounds like quite the intense renovation for a first flip so glad you just broke even. I mean, I lost money on my first solo flip. So I think that I chalk that up as a win for sure.

Johnny:

And it's funny man, you know, looking back on it, the hard money lender made more money than I do.

David:

That's fun.

Johnny:

Yeah, it was interesting because the way that the contract wasn't a simple interest, he had a flat 10% fee. So if it took a year to sail over took one month, he got his 10% and so with the purchase price and everything, you know, getting like 23k off the top, and we bought the house in the June timeframe we sold in October.

And so we got a little bit less than six months. And but it all it all worked out as a learning experience to know to get in on it to get it done. And then we took it and we went to do four flips over the next two years in Birmingham.

David:

That’s awesome.

Johnny:

Yeah, a whole lot less you could buy a house for 45,000 versus 200 again, for 230,000, so it made sense.

David:

That's cool. So yeah, I had some friends who wouldn't invest in Birmingham. So it's not a it's not a bad market. But yeah, it's just like, it's just kind of like Missouri, right? It's affordable for people here the real estate prices. It's like when I post something, and I post an example of like, $100,000 duplex and people like that, there's no way actually I own two that are cheaper than that. And they cash flow more than this. So there's a way, but then I live in you know, I live in San Diego right now. And I see why people get upset. I'm like, the math is still the same. It's just multiplied or divided by a few times.

Johnny:

Yep.

David:

That's funny. All right. So you've been doing this a little bit here and there since 2006. Prior to the one you just recently did the bigger one. What was your favorite deal and why?

Johnny:

Favorite deal? Um, I think it'll be a duplex because we literally took almost the entire roof off the place. So we go like look at my YouTube video and I literally could walk in the door and I'm looking up and all I see is the raptors looking up through the ceiling where it was totally taken off.

And we originally knew we had to replace the roof. We didn't know to what extent we had to replace the roof, but how much of the bed decking how much decking was bad that we had, and then going through and having to take up the top floors, because then we had some areas that were where it was popping up. And yeah, and it just took a life of zone. I think for both sides, I think we have over 200 sheets that she brought.

And it was just intense. And that was like the most major project that we're proud of for me from that simple perspective, where's the level of work that was like, traditionally, my niche I want us to kind of go with a low risk approach. So no wood, wood floors, you know, just concrete slabs for the foundation. You know, no major damage and you know, just cosmetic stuff coming in floors ,kitchen, you know, even made a lot of things. We can keep the cabinets, new countertops and put it on the market. And you know, this one kind of broke us out of that mold. But we had a great contract approved. They did a great job. And it gave us a lot of experience and spent a lot but it worked out in great deal.

David:

Yeah, that's awesome. I'm a fan of small Maltese like that. I mean, you know that people argue back and forth about single family versus duplex for different reasons, but I think I think there's definitely something to duplexes and triplexes and fourplexes I mean, obviously house hacking is great, but I mean, my most recent purchase was a duplex and I don't I've never even seen the building much less lived in it. So I think sometimes they just cash flow better or it's just the fact that there's the risk mitigator right, if one unit goes vacant, you're not totally on your butt. So..

10:00 - 15:00

Johnny:

Right now they don't know when the finance was interesting so my VA found the deal. She called the list and got in touch with the seller. I met with him in person there. He wanted to let it go for 45,000 like, okay, I sold it for 45,000 as he is. And then he had told me he had another property, because it was a billboard, on the property was a commercial lot. And he had a billboard that he was telling me a story about how he had sold the rights to the sign on another property that he had done. And he had the seller finance. And so like boom, okay, this guy gets it. He's gonna raise done seller finance before. And so I'm like, hey, would you be willing to take back a note on this property? He was like, well, yeah, he's like, let me think about it. And so we ended up paying 55k, and he finally with me in the pudding, I think 11 or $11,000 down, and he ended up financing the remaining balance at 7%.

And, yeah, so it worked out where we at the same time, we had another another project going on. So at that point, I wasn't leveraging our money. And so it was all our capital time. And it worked out, worked out well, when we didn't have to come up with the full purchase price, they're close. And then the rest is kind of history, we ended up refinancing it with a couple of rentals. And in cashed him out and now working with him to bring him in on the passive investment side, looking to partner up and do some deals that way in the future. So it was all good.

David:

I like that. That's smart. Yeah, that's cool. I love creative stuff like that. I think that's, I mean, I think it just shows that it's possible, right? And a lot of people think, oh, if I don't have 20% down, I can't get into real estate, bullshit. You totally can. There are different ways to do it, for sure. I mean, I I never paid more than 6% down until after like the first three years of real estate between FHA loan and seller financing and a lease option and I don't think it was until this most recent duplex that I was finally like, hey, bank, here's 20% down and they didn't even take it. They only took like 15% down somewhere. Okay.

Yeah, so alright, so let's talk about the more recent one the bigger one. What uh, I mean, I guess we first off, let's just walk through the deal real quick. And then we can talk through some of the other questions after that.

Johnny:

Yeah, so the deal so it was interesting. So I went to Jake and Gino's event last October. I'm down in Orlando. And it kind of opened my eyes always to apartments where to go. But I didn't realize how close we were to actually realizing that.

And so I went there. You know, just, the network, it was awesome in a whole lot of like minded investors in the multifamily space. I got a chance to meet Eric Thomas and I had the hip at the hip hop preacher. And for me, fed, you know, rewind back to 2018 when I was deployed, I you know, it was it was it was an intense time you know, as first time being away from my family and my second deployment, but this time with keys made the whole idea even though it did, my wife was pregnant, same time too. Gotta have a chance to go to one baby appointment before I live. And, you know, during that time, I found out a lot about YouTube and a lot of different techniques. I was literally cold calling from downrange. You could wake at midnight. I'm in my room. My roommates over there. I've got a Blake is up in between us and everything I'm on to trying to get on the crappy WiFi and do cold call.

David:

I love it.

Johnny:

Yeah, I found Max Maxwell. And I was like, yeah, I need to get a virtual system, you know, saw some of his content, so did that. And, you know, and so I knew about, you know, multifamily the systems in place. And, you know, I found the motivation that I had going through all that, you know, when I came back after I got home from my deployment, three weeks later got hit by a category five hurricane, Hurricane Michael family displaced for six months. You know, my son was born just five days after the hurricane in mobiele, Alabama.

And, you know, two months later, my mom had a stroke. It was just like, you know, we're on the road to hotels going back and forth to see my mom. We finally got back to our house in March and two months later I tore my ACL.

So the whole time you know, I just went closed on a duplex that just talked about the two two weeks later, I tear my ACL and PT in the gym just goofing around with the guys and it was like everything we did last year I was either on crutches are you know I'm hobbling around and you know, the steel making it happen, you know, and I talked to ET about that because I got so much about the lion and just that whole grip, that grind attitude, that mindset that I got. So you know, when I had the opportunity to talk to him, he was like, man, I need to do what you need to do in an apartment building for each one of your keys and your wife. You need to name each one on that side. Wow. Man, that is that's it. That's a hell of a goal. Like okay, like, yeah, I could probably do that in five years.

15:00 - 20:00

Johnny:

And I was getting ready. Everything's tying back to the duplex, so I was getting ready for my appraisal so when my appraisals are always put together comps for the for the appraiser, and then I'll also give him a scope of work that we've done on the project to give him some perspective on why you should appraise for what it needs to appraise for so prepare for that the lot behind us was already on the market had to sign up but I didn't know the price.

So I'm just browsing and email is trying to pull the price. And I see this 18 unit. Now this is like 45 days after coming from Jake and Gino and so I'm still all multifamily. So I'm like, Okay, I gotta put it. I got to put it away. So I got the deal analyzer calculator that came with the ticket. I analyze the deal, okay. They're about 300,000 over where they need to be. I'm like maybe they had been sent over 90 days. So I'm like, okay, we'll get with the broker. She's hard to write down. But I finally got it over submitted LOI for a million dollars. They had it listed for 1.35.

And so she's like, yeah, let me send it back to the sellers and then over Christmas holiday they did here they back they re engage with their New Years. And after that, she's like, okay, we're about 100,000 off. They want to be no lower than one point. And I was like, okay, well let's, I want to walk it. So we actually walked in mid January.

Most of the units are proud to say probably at least 60 to 70% of I was able to take pictures and everything was okay, and half of the units already had been updated from the issuance. And so new vinyl Plank Floor and new cabinets, new stainless steel appliances, fresh paint, and I was like, okay, this you know, it's not gonna take a whole lot to get this back up fully renovated.

And long story short, we just kept going through and we ended up getting under contract in March of this year. And as we went under contract, they were it was more it was water main leak already that you could tell there was all sides so they ended up paying a little bit over 30k to have their repair Before closing, which it took forever to get. They wanted to get multiple estimates and then we finally had a company come out of Pensacola that they got it done in which it worked out well, because originally we were looking at like, well sale a couple of our rentals, we could take this down bar sale, and go ahead and do it. And then COVID happened as we went under contract the beginning of March. And then later, they started shutting down. And I was like, I was freaking out, like, go to the bank on poor bad, you know, and we went with a local credit union, which, you know, looking back and it was like, perfect. They were rock steady. And the way they do business is they don't really answer to anybody else besides that. And so they do their own loans. They keep them in their own books. And it worked out well. Where's that? We ended up closing back in June on 4,050,000. And we got $25,000 back at closing for concessions, just because with that we took over an insurance claim for the last four units that needed to be renovated. That was steel pro long, with the owners that were just kind of mismanaging the process, which was to older couples, they have one hand another business and so they weren't, this wasn't their primary or focus on fortunately. And they kind of went hands off with a contractor who wasn't his priority either. There they've just blanket just signing checks over to him without verifying work has been done things like that.

And so we just took that over. And so we're working through the process now, you should be getting the final estimate from the insurance adjuster to get those four units done. And I know we can get them done for the price that they're recruited.

Sponsor:

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Johnny:

But yeah, it went from just being planned to see if you should do five in the next five years for your family. The key is to be able to see the opportunity. Take action when putting LOI together. And then just going through the contract looking at microprofile blogs, email, YouTube videos, podcasts, hey, due diligence I need to do this common a couple people that I network with that I met that had done syndications before and just got it done and yeah, man, the wrist is huge.

20:00 - 25:00

David:

That's really cool. So what was what was that one originally listed for again was at 1.4. Is that what you said?

Johnny:

1.35.

David:

So you knocked off $300,000 you knocked off like 25% maybe more of the purchase price or of what they were asking.

Johnny:

Right.

David:

That's awesome.

Johnny:

And they were motivated and the appraisal came back in at 1.25 million. And after the four units are up, and we're 100% occupancy, based on the cash flows, they projected 1.34 million.

David:

Yeah. Okay, so that was your first syndication, right?

Johnny:

Yep.

David:

Now, I know you put it together. And you were Nick the new guy or whatever. Did you bring in somebody who done a bunch of syndications or did you do it with like mentors or what was the what was the learning point for or was was and I'm just curious about this from a clearly like, from a personal standpoint, like or was it like an SCC attorney that was more your guiding light What was your your guidance for because syndication is not an easy process for first time walkthrough?

Johnny:

Yeah, so it's definitely not like when I was at Jake and Gino I met Kim Smith, who's an attorney. I think she's out of St. Augustine and bought her book. So I had a syndication through Google My okay. And I have raised money in the past for some of our projects, just from family and friends did you know secured via promissory note, so it was looking to potentially do that? I was like, Nah, I need to go and do this the right way and get everything done. Whereas I don't have the SCC on my back.

David:

Yep.

Johnny:

And after I met with all who joined my mastermind, back in March, shameless plug Army War for the war room.

David:

Yeah, we can. You can shameless plug the mastermind group all you want. It's a great group.

Johnny:

Phenomenal, phenomenal. And you know, when I met one of my partners there, Rory Compton, and we're still looking at deals to this day, but he was like, hey, man, he's like do you mind if I, you know? Try to raise some capital and come on as a general partner like yeah, let's do it. And, we made it happen. So I ended up in some same warm room and got some referrals for syndication attorneys there. And we end up going with the company three pillars law out of Colorado.

David:

Is that a Byron, right?

Johnny:

Byron Yep.

David:

That guy. Byron if you ever hear this podcast or anyone else who knows him, I have emailed you like three times to try to get you on my podcast. So I don't know if my emails are going to the junk folder, but I'm just saying.

Johnny:

I need to call.

David:

Tell him.

Johnny;

I'll tell him.

David:

Stu Grazer is on his partner to deal with him or using him but somehow they're involved in Stu was like, you need to get this guy on your podcast. I'm like, yeah. And then he's like that. You're like the third person who's recommended him to me.

Johnny:

Yeah, but he was phenomenal and was interesting. So I went with another syndication attorney. I got a quote for hey, if I needed to draw a personal place memorandum ppm, it was gonna be 10 grand. And I was like, okay, then I'm like I'm in the war room, just drop a Facebook message and see if anybody has any referrals. And it saved me $5,000 so we were able to get the ppm done the operating agreement. And one thing when our syndication we gave our investors, we did a preferred 7% return and just issued notes versus equity in the company. And so it worked out well. He drew up the promissory notes and everything he gained.

David:

Oh, that's Oh, like, oh, that's cool.

Johnny:

Yeah. So we in between Rory myself, and then one of my college buddies, they came on it with itself and we were 100% owners between three of us and our investors, they got a 7% preferred return for two years. And then at the refinance milestone, they will do an equity kicker. Whereas the deal walked away with 34% return on those two.

David:

That's awesome.

Yeah, that's really cool. I Like I like I like the fact that it's indications like you can tweak so much about the return like I was having a conversation with this last night with a roommate and he's like you know my mother in law wants 10% return on our money do syndications normally do that I was like, well, yeah, it depends. It depends on if you look at like, do you want a 10% pref no equity split or do you want a 7% pref with a huge equity split or do you want you know, I mean, like there's there's depending on if you're a long term play or short term playe you need the money now or you don't need the money now like there's all kinds of ways to structure syndication returns and there's no there's you know, without even getting into like crazy waterfalls and, and other other like, it gets very, very intricate, but there's a way to satisfy everyone depending on you know, what kind of what your goals are.

Johnny:

Yep, it is. It is. And it seems like more so a lot of people are focused on the near term like hey, how soon can I get my money back? Where's the, you know, more accredited, sophisticated investors, they get the picture of long term..

25:00 - 30:00

David:

I put my money in a syndication and I'm like awesome, thanks. Tell me whenever you're done and so I can roll it again if I need it. Yeah.

That's cool. All right. So I love the fact that you that you like so I know we shameless plug and we joke about the war room but so that the intent and we actually I think it's honor like bylaws or whatever is like this this is not a group for like doing deals but that's a natural byproduct like it's in there like people talk all the time they're like is this for like and I do deals in this group and like the mastermind is not designed for you to find like to just throw deals around at people but as you get to know people and you travel down your similar journey it's going to happen and I think every mastermind group that I've ever been in as at some kind of collaboration or partnership or something springing from it.

And so it's really cool to me to hear that your group not only did you partner with somebody in your group to tackle your biggest deal yet, but you also got recommended by an attorney who saved you money in the process who was awesome and who I know has a great reputation.

And so it's just cool to me to hear, like, those kinds of things are going on in the group and that that's genuinely happening because that's the whole reason for starting the group in the first place was like, but I mean, it was selfish for a long time I thought about joining them, you know, building something like this, and I didn't, I had infested posture syndrome. So until Stu came along, was like, let's do this. I was scared to do it. But my selfish reason was like, I want to create a group of people that I want to hang out with, like, I don't have my peer group isn't what it needs to be. So how do I get all these people together? So anyway, it just makes me so happy to hear that you guys were able to pull that off.

Johnny:

It is good. I think just the foundation of any mastermind, you know, it's kind of like minded people coming together. And just a melting pot and hey, good stuff always had.

David:

Yeah, you get around the right people. And it's magic. I mean, it's just, it is, it's just a byproduct, you know, I mean, and the end, the longer You're in the real estate game. The more you invest in people, the more you realize that the relationship piece is the most important piece. I mean, because whether it was that 18 unit, or a quad, or a 30 unit or a flip or whatever, like, people, when you first start getting into real estate, people worry about capital and they worry about money, they worry about this, they worry about that. But like reality is that if you find a good deal and you have a good reputation, the money will come.

Johnny:

For sure it is definitely a team sport. You know, we ended up doing like nine total deals last year between rentals, fixing flips, and wholesalers and it's a team I can't say anything more about how great my team is from my primary contract. The team has Johnny on the spot. We're getting stuff done. I like is nobody especially Dynamic It was after the hurricane here with contractors and you know, all the jobs and people just flooding the area from all over the country literally to do work here to had to say that we started with one contractor that we found by me just hey, my wife and I were putting out bandit signs. I see some guys working towards some debris on the side of the road. And I stopped, I was like, hey, you know, you guys got a business card? And you know, they pointed me to the guy in the back and we ended up exchanging information. And the duplex I want I got an estimate for my back on the duplex. And the rest is history. You know, they've been with us ever since. And it has been a godsend man. But yeah, you got two realtors, your property managers, once you take down the assets, on your lawyers, your attorneys, you know, and it's all the team team team approach we relationships, and just being able to network with other investors and given other investors deals that you can take down or if it didn't meet your criteria and just networking with people. It's been awesome to see this awesome see where it's actually grown to this day.

David:

Yeah, and I love that you're taking action on those different kinds of partnerships and stuff. So, for me personally, like for the longest time, one of the things that made me nervous was people would say, hey, you know, I got some money, I'd be down to do a deal with you. And I would get nervous, like, I would feel like, oh, man, you know, what if I, what if I do this and I mess it up? Or what if I don't know what it was, the imposter syndrome coming back up. And it's so much different when you're able to realize like, and that's like, that's, that makes all the difference in the world. You know, if you can, if you can just get smart and realize like, no, you're providing an opportunity you're not selling you're not. I don't know, I think that's cool. And I think the fact that you did that is just going to open even more doors because now you're comfortable, maybe not comfortable but you're experienced in syndications. You understand what to do, you know what it looks like. You know how to bring a team together, you realize that you can raise the money. Now you're like, hmmm, alright.

Well, so what's the what's what's next? What's the next goal?
30:00 - 35:00

Johnny:

It's funny you should say. So I went to a live dealmaker this past week with Michael Blunts. Yeah, is a three four day conference. And it was cool, just getting a little bit more exposure now to just syndication everything, the unique thing with 18 units, my wife and our manager, so we didn't bring a property manager on board. So the last month has been, you know, hey, can defer maintenance called a manager through COVID.

I think we're right about 95% rent collection for the month of July. We wait, we waive late fees, which I think but the key here is that you couldn't really charge late fees anyway, with the new VM.

And, you know, it's just interacting with the people, whereas they were moving to Northern Virginia PCs and here in November, and I was like, okay, we're gonna get everything running, get the renovations done, get it to 100%. And, oh, by the way, we're gonna get this property management thing on this type of scale. We're gonna get it figured out, understand and know it. So when we hand it off to somebody, we can be a better asset manager versus property manager, and then roll that experience into our next syndication deal. Whether we're on the operator side, whether we just raise a capital, it just depends on where we end up on the shared team coming in on a team that will have value, be able to bring that have some, some real world experience, we just interact with everybody.

So really now man is just a head a lot of people just, you know, just share my story on Facebook, say hey, yep, I'm interested in real estate and you know, and partner with you guys. And things like that to where now we're looking to, to go to maybe a 30 to 50 unit deal, hopefully here within the next year is kind of the next near term though. Just going from there and just growing a network.

David:

That's awesome. Are you gonna be moving anytime soon? Or do you get to stay in Panama for a little bit longer?

Johnny:

Yeah. So Northern Virginia, we PC’s got orders already now. So we PC’s in November timeframe, right after Thanksgiving is kind of where we're targeting.

David:

Okay, cool. Yeah, I got some friends up there that do syndications off the hook you up.

Johnny:

Yeah, for sure, man. That'd be awesome.

David:

Yeah.

Johnny:

We still stay in this area here, but also looking to grow. grow in other areas in the southeast from the Carolinas and Georgia, Alabama.

David:

You know, maybe the next time a hurricane comes through.

Johnny:

Hey.

David:

Opportunity!

Johnny:

That's, that's, that's the niche. We've learned. We've learned a lot and the dynamics with how everything happens. That Uh, yeah, I think that's the thing for is I need to just put the system together like, hey, target this zip code, these brokers, let them know where we were looking for. And then just being able to in my team travels, so then to get my contractors that could travel and put it together. So we'll see what the future says.

David:

It's funny because I actually had someone on the podcast too. But, I think I can't remember it might have been a 12 unit 15 units something and then he was deployed, and that's when the hurricane hit and it just obliterated his building. And so the podcast is all about like insurance claims. And you know, it's very interesting. So it's, it's also interesting to hear the flip side of that, which is like, hey, you were able to scoop up a deal, right?

Johnny:

Yeah.

David:

Like not necessarily directly because of the hurricane but I'm sure that didn't hurt anything. And so that's that's cool. So that's, I think that's smart.

Johnny:

Yeah, different present opportunity, it’s funny I'm still going through my own insurance claim for my personal house and a swimming pool. I learned a lot. I signed an assignment of benefits. Probably a couple. It was, everything was going on. Like I had mentioned, you know, new baby, the house was jacked up. We're you know, living way over in Fort Walton Beach over to the Destin area in the condo, my mama just had a stroke. And then now trying to travel back and forth to drive two hours. And oh, by the way, I'm the direct operations for Squadron. So I'm trying to take care of my people, try to get operations back, stand up and it's like, okay, I've got a contract to do it seems legit. He talked a good game, and like, okay, what's on the benefits, you guys handle this claim and stuff. I just got too much going on in my life. And, yeah, they ended up having a contract with like, dude, I felt like if I had to sign this, I could have my own guys coming. Yeah, so we went through the process, we got everything done on the inside, but our pool was still jacked up.

So if I wanted to stay on my personal residence, I could at this point when we PC’s, what has been I learned a lot, you know, that that it gave me the the information and experience to now be able to manage your insurance claim for an apartment building, you know, by look at the mistakes I made and just have gone through the process on my personal residence, that it all worked out to benefit as a needs.

David:

Yeah, that's awesome.

All right. So there's a few questions that I ask every guest. The first one is if an E1, E2 was to come up to you asking you for advice and you had just a minute or two to talk to him, what would you tell them?

35:00 - 41:22

Johnny:

My feedback would be to start saving, start saving, don't make, don't go buy the fancy new car. After you get your bonus, or you know, or go off that first deployment and come back, I would look at, you know, saving your money and they look at where you want to be 10 years from now. And understand, hey, what do you need to position yourself the next three 510 years in order to get to where you want to be in life. And I think you know, whether that vehicle is real estate, whether you have a passion for some type of business, or if you have a unique skill set, where's that you can monetize.

And, you know, a lot of people you know, I need to be a doctor or a lawyer or you know, you know, the electrician or the HVAC repair guy. He's probably a millionaire. You know, because you know, you have a business and you know, something like that. We have a skill set that you don't necessarily need a four year degree. And I think we as military members, so we have a unique dynamic skill set that we don't necessarily always recognize and I think a lot of times our jobs don't give us an opportunity to realize all of the potential that we have in certain areas.

We have a lot of Airmen that come come in with a lot of unique skills in the Air Force and it's the same in all the services where's that you don't get to foster and see those skills blossom and utilize where is that hey, if you pick up a second second business or bet on yourself and look at going the entrepreneurial route, then you can you can better yourself and just take off and grow. Whereas not not just real estate. You know, that's the vehicle that I like to use and that we like to leverage. But you know, I just tell people to bid on yourself and look at what you are good at? If you're good at it? You're good at what you're doing.

David:

Yeah, I agree. And yeah, I like the whole new car thing. I gotta ask, did you say dorms? Is that what the air calls the barracks?

Johnny:

Yeah, that's what we call it bears, the dorms.

David:

It's like a whole new world sometimes talking to the Air Force. Like, what? dorms? barracks? Yeah, I mean, there's a totally different connotation there. But then again, I've seen Air Force dorms and they also look a little bit different than what happens to Marine Corps barracks.

We got this unit or this anyway, we got a barracks in Hawaii called Mackey Hall that's like infamous, and it's been around since like, World Pearl Harbor, who knows? It's like, they still use it. And it's like completely condemned. Like, I remember having to walk around with a senator or, or Congress or whatever. Tolsey gathered at one point, walked around and be like, and then like, the commandant came and looked at it, and they're just like, yeah, we're trying but it's a historical building. Like, it's not. What? Why do we live in this thing? So.

Johnny:

It's an amazing moment, but I will tell you about being deployed in Afghanistan camp Cunningham, with the boustead conexus, three stores hi black mole.

David:

Yeah, good times good. Alright, what is a resource, book, course website, whatever that you would recommend to anybody looking to get started in real estate investing?

Johnny:

I know it's cliche. The Rich Dad Poor Dad, Robert Kiyosaki. It changed. It changed my mindset. I didn't come from a wealthy background. And I didn't have a true understanding of how money operated, how money flows, how the economy flows, how businesses and the relationship between the business employees to Taxco.

How everything the systems are set up to foreign economy and capitalism, or you could some say criticism to run an operation. And so one of the things that that definitely read that book just changed mill just to understand hey, how are you treated in the economy as an employee versus business owner versus an investor and it just opened my eyes no, not try to change share the book with the you know with my airman in the past you know family members and it's just it just changed your whole mindset and it empowers you so much that I think is it definitely is the top book that I recommend.

David:

Yeah that's someone who started at all for me. Right on, alright how can people get a hold of you?

Johnny:

Yeah so, on social media now more so than I used to be. But yeah on Instagram, Mister Operation Restore. And then I'm on the cash, I guess the investor and cash buyers go because people are looking for deals and everything operates in this. And my website is www.investnow.com and just sign up and connect and then we'll jump on the phone and the zoom call and just talk real estate and see how it can be a benefit and just help people a lot of people you know, I've gotten calls from just people that just hey, I saw this on Facebook and I'm in Atlanta. Hey, should I go buy this house or take this money to do this? You know, so I just love talking about real estate with people. And just doing that.

And then on Facebook, same thing, Operation Restore Johnny Lynum. And yeah, just love to connect with top real estate and be a benefit, you know, you know, I don't charge for my time or anything, but I do limit the cost in like 15 minutes, you know, initially. Yeah, so did you do that? And yeah, man.

David:

Yeah, that's the way to do it. It's like, I like I'm all about giving out time and calls, but you gotta be careful with a cut off time or you're gonna end up talking for like, 45 minutes like, man, I could talk to three people.

Johnny:

Yeah, yeah, exactly.

David:

Awesome. Well, Johnny, this has been a pleasure. Thank you so much for joining us today.

Johnny:

Awesome, David. I appreciate you having me on the show man. And yeah, I just love everything that you're doing with the military to millionaire, with the war room with the mastermind and is definitely blessed my life man. So salute to you. And yeah, hope to be back in the future.

David:

Absolutely. Well, thank you. I appreciate that very much.

Johnny:

Awesome.

End:

Thank you for listening to another episode about my journey From military to millionaire. If you liked it, be sure to visit Frommilitarytomillionaire.com/podcast to subscribe to future podcasts. While you're there, we'd love for you to rate the show. Give us a review on iTunes. Now get out there and take action.

Johnny Lynum on The Military Millionaire Podcast

Episode: 107

Johnny Lynum

Join David Pere, and Alex Felice with Johnny Lynum as they rock & talk about Johnny’s personal story of his house-flips and his success in real estate investing.

Johnny shared his hard-won wisdom about investing and online businesses. Grab a pen and take note for some pro-tips and advice that Johnny will give us!

In this episode, you’ll learn:

  • How you can do house flips from $1 million contract worth into $2 million worth negotiation (02:28)
  • How you can use past experience until this fast-changing world (03:40)
  • Why duplex is a favorite deal for house flips (06:34)
  • How to manage to work on major deals/ projects (11:01)
  • Sustaining the business amidst COVID pandemic (15:54)
  • How Real Estate Syndication can help and guide you for a first time walkthrough (18:45)
  • Key secret to creating immediate success inside your business
  • How we can have our own path for our own future base on Johnny’s experience
  • And many more!

~

Johnny Lynum, a lieutenant colonel United States Air Force for almost 15 years — still had to duty. He started a Real Estate in 2006. Going from places to places, he started looking for opportunities: forclosed assets and transforming them into a real estates people love to own. Learn from his “first time is a hard money” journey until his “first time is hard for major projects”. He believes that you should always learn from your experience and use them until you can – and better if you combine them with widely-used social media sites. Moreover, in Real Estate Investment you should also learn to invest in relationship with the right people. Having that, he started giving opportunities to others as well.

Wanna learn more about Johnny and other successful Military to Millionaire stories?

Resource Links:

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

Facebook: https://www.facebook.com/opinvestnow

Website: https://www.oprestorenow.com

http://www.opinvestnow.com

Advice to an 18-20-year old:

Don’t buy a new car! Save your money, and create a 10-year vision

Recommended resource(s):

Rich Dad Poor Dad https://amzn.to/2WQS9cr

For more information about the War Room REI Mastermind send us an email at: [email protected]

Real Estate Investing Course: https://www.frommilitarytomillionaire.com/teachable-rei

Recommended books and tools: https://www.frommilitarytomillionaire.com/kit/

Become an investor: https://www.frommilitarytomillionaire.com/investor/

SUBSCRIBE: https://bit.ly/2Q3EvfE

Website: https://www.frommilitarytomillionaire.com/start-here/

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

Facebook: https://www.facebook.com/groups/militarymillionaire/

My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase “I don’t get paid enough” entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! – Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!

THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR’S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS.

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David Pere

David Pere

David is an active duty Marine, who devotes his free time to teaching personal finance and real estate investing for service members, and the working class!

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