SUCCESS STORY: Nomadjanet

nomadjanet · Sep 18th, 2007, 08:53 PM

Ok so being a slightly paranoid person I have hesitated to post my story but here goes.
I was raised in a low economic household with lots of kids. I skipped two years of school and graduated at 15. I was not encouraged to go to college. I got married right after high school. My husband was 19 and I was 15 we had nothing. We purchased a used mobile home and lived in that for 3 years. We sold it and purchased a small home and lived in it for 2 years. During this time we partnered up with an older family member and purchased a 15-acre piece of real estate on the edge of town. We platted it and subdivided it including installing a street and water main. We lost 2 acres to road; we sold 10 lots, saving one for a house for us and the two front lots facing the main road for possible future commercial. The overall rate of return on this first project was about 30% after expenses and we got our house lot free. Not exactly fastlane but a taste of something other than employee income, I was 21 by this time. I had tried to go to college but never found my niche. I had my real estate license and my husband was a master plumber. We built our dream house on our street on the edge of town. I opened a day care center brining in S money in our area and operated this for 4 years while my husband worked for a union shop bringing home the E money & keeping us insured. During this time my husband joined the local water board and started finding out about different development opportunities in the area. We found out about a small highway near our home that was about to be developed into a large divided highway, including extension of utilities etc. We made a deal on 5.5 acres on the highway, within 6 months the new development started our 30k investment was worth 150k within 6 months. During the 4th year of my daycare business my husband wanted to open his own shop, he started with me answering phones while I ran after kids. Within a year we had outgrown this situation and something had to give the potential for income in his business was much higher in comparison to mine due to facility investment. I sold the daycare business to my assistant for little more than a song & a promise. But it was a good decision she paid me a monthly payment and I could devote my time to the plumbing business. We continued to work the plumbing business, hiring employees and expanding our sales every year. The plumbing business has been good to us; we have learned through the years to develop it into a B business instead of an S business as we started out. We have office staff and technical staff and our role now is to lead and control and does not require constant work to acquire constant income.
During the time we were building the plumbing business we also worked more in real estate: We built a 5 unit commercial complex on our newly valuable highway land and moved the plumbing company into one slot after the plumbing company was in business only 1 year. We rented out the rest for twice the mortgage. Around this time there were many foreclosures going on in our area and I was scanning the foreclosures and pumping my real estate friends for leads. We purchased a small house on a triple lot and began remodel that house. We then built two more homes on the other lots as rent houses. We repeated this model twice buying homes with multiple lots and expanding on our rental holdings. Always keeping my eye out for more real estate that can turn a profit we have also purchased and developed raw land four times. The raw land is always sold as soon as possible and we begin to go onto the next piece. There are times when we don’t have a project going because we just haven’t found the right deal but we are constantly looking.
Last year my husband decided he wasn’t busy enough since the plumbing business does not need him so much. We built a new house at the ranch and moved from our neighborhood on the edge of town. We started another little business buying & selling classic cars. We have since been traveling to view and perhaps purchase or sell classic autos.
We aren't living the Bill Gates life but we are living free and it is a great life.

AroundTheWorld · Sep 18th, 2007, 08:57 PM

Thanks for sharing your story J...

sounds like constant persistance and growth has brought you where you are today.

Russ H · Sep 18th, 2007, 08:58 PM

Wow, Janet, thanks for this.

A great example of increasing your assets from one project to the next.

we are living free and it is a great life.

That is what it's all about.

-Russ H.

Runum · Sep 18th, 2007, 09:12 PM

Thanks for posting Janet. Your story helps motivate the rest of us.

Greg

Yankees338 · Sep 18th, 2007, 09:29 PM

Thanks for sharing. I agree with Russ. It's good to see how you were able to gradually (not quite slowlane though

) build up your assets to where you have now.

tbsells · Sep 19th, 2007, 05:12 PM

Thanks for a truly inspiring life story. Obviously, you and your husband are "doers." Congratulations! It sounds as if you are enjoying the fruit of your labor and good business sense.

nomadjanet · Sep 19th, 2007, 06:55 PM

Thanks guys, I left out lots of little deals along the way but you get the drift of trying to form multiple income streams. I guess I am intimidated by the guys on here who are talking buying Lambo's & 3 millon dollar deals. I am used to making it a few hundred thousand at a time.

Russ H · Sep 19th, 2007, 07:42 PM

Janet,

At one point or another, you have done deals or have had net worth in the $300,000 range, right?

The only difference between a $300,000 deal and a $3,000,000 deal is ONE ZERO.

It took me a long time to not be afraid of that one lil' zero.

I actually did a post about this 5 years ago.

Here's an update (titled "Don't Fear the Zeros"):

http://thefastlanetomillions.com/sho...=6435#post6435

-Russ H.

nomadjanet · Sep 19th, 2007, 07:56 PM

You have many good points and I am always impressed with your go to it attitude and thoughtful plan.
I'm not saying we don't have a few million, we just did it in small bites. Right now we have real estate over 2 mil clear with no debt. We have a business that does over mil a year without hard labor on our part and with debt only on hard assets. We are liquid out about 10 years. We are holding paper for another mil but all the deals were a few hundred thousand at a time. All of the above is in addition to the Ranch and two personal homes with no debt. It's just a comfort zone we are in I guess. Another thing is we are not in CA, we can buy allot with 500k. This board is opening my eyes to some informational & managment options that I haven't looked at before and we may be changing our comfort zone soon.

Today I had a meeting with our broker that will simplify & change our lives. I am reading the 4 hour work week and setting up some things on autopilot that I have a tendency to procrastinate on. I found a property manager for one of our houses at the coast that I have been hesitant to lease out because we live 150 miles away these are all things that will enable me to think of doing bigger better deals. So like I say

all of you, I am learning everyday.

Russ H · Sep 19th, 2007, 08:11 PM

Sounds to me like you're pretty comfortable with the "idea" of $3,000,000!

-Russ H.

Antonio. · Sep 19th, 2007, 08:57 PM

Great Story;Thank you for sharing!!

ramy98 · Sep 19th, 2007, 09:08 PM

Thanks for the inspirational story Janet !

FT1 · Sep 19th, 2007, 09:13 PM

Thanks for sharing your story.

KyJoe · Sep 19th, 2007, 09:18 PM

That's a great story, in essence it's the American dream.

PhxMJ · Sep 20th, 2007, 01:43 AM

Thanks Janet, nice write up! PM me for icon status if so desired.

kelrash · Sep 25th, 2007, 10:00 AM

Thanks for the inspiration.

triple J · Sep 26th, 2007, 08:59 PM

I love "underdog" stories. You came from humble beginnings, but kept moving ahead. Love it! Keep up the good work!

Sep 18th, 2007, 08:53 PM	#1 (permalink)
nomadjanet Level: (7) Lexus Joined: Aug 2007 Locale: TX Age: 51 Posts: 322 Thanks: 0 Thanked 1 Time in 1 Post	SUCCESS STORY: Nomadjanet Ok so being a slightly paranoid person I have hesitated to post my story but here goes. I was raised in a low economic household with lots of kids. I skipped two years of school and graduated at 15. I was not encouraged to go to college. I got married right after high school. My husband was 19 and I was 15 we had nothing. We purchased a used mobile home and lived in that for 3 years. We sold it and purchased a small home and lived in it for 2 years. During this time we partnered up with an older family member and purchased a 15-acre piece of real estate on the edge of town. We platted it and subdivided it including installing a street and water main. We lost 2 acres to road; we sold 10 lots, saving one for a house for us and the two front lots facing the main road for possible future commercial. The overall rate of return on this first project was about 30% after expenses and we got our house lot free. Not exactly fastlane but a taste of something other than employee income, I was 21 by this time. I had tried to go to college but never found my niche. I had my real estate license and my husband was a master plumber. We built our dream house on our street on the edge of town. I opened a day care center brining in S money in our area and operated this for 4 years while my husband worked for a union shop bringing home the E money & keeping us insured. During this time my husband joined the local water board and started finding out about different development opportunities in the area. We found out about a small highway near our home that was about to be developed into a large divided highway, including extension of utilities etc. We made a deal on 5.5 acres on the highway, within 6 months the new development started our 30k investment was worth 150k within 6 months. During the 4th year of my daycare business my husband wanted to open his own shop, he started with me answering phones while I ran after kids. Within a year we had outgrown this situation and something had to give the potential for income in his business was much higher in comparison to mine due to facility investment. I sold the daycare business to my assistant for little more than a song & a promise. But it was a good decision she paid me a monthly payment and I could devote my time to the plumbing business. We continued to work the plumbing business, hiring employees and expanding our sales every year. The plumbing business has been good to us; we have learned through the years to develop it into a B business instead of an S business as we started out. We have office staff and technical staff and our role now is to lead and control and does not require constant work to acquire constant income. During the time we were building the plumbing business we also worked more in real estate: We built a 5 unit commercial complex on our newly valuable highway land and moved the plumbing company into one slot after the plumbing company was in business only 1 year. We rented out the rest for twice the mortgage. Around this time there were many foreclosures going on in our area and I was scanning the foreclosures and pumping my real estate friends for leads. We purchased a small house on a triple lot and began remodel that house. We then built two more homes on the other lots as rent houses. We repeated this model twice buying homes with multiple lots and expanding on our rental holdings. Always keeping my eye out for more real estate that can turn a profit we have also purchased and developed raw land four times. The raw land is always sold as soon as possible and we begin to go onto the next piece. There are times when we don’t have a project going because we just haven’t found the right deal but we are constantly looking. Last year my husband decided he wasn’t busy enough since the plumbing business does not need him so much. We built a new house at the ranch and moved from our neighborhood on the edge of town. We started another little business buying & selling classic cars. We have since been traveling to view and perhaps purchase or sell classic autos. We aren't living the Bill Gates life but we are living free and it is a great life.

Sep 18th, 2007, 08:57 PM	#2 (permalink)
AroundTheWorld Level: Mindfullness Trainee Joined: Jul 2007 Locale: The Lazy Sombrero, Montana Age: 33 Posts: 1,840 Thanks: 145 Thanked 148 Times in 93 Posts	Re: my story Thanks for sharing your story J... sounds like constant persistance and growth has brought you where you are today.

Sep 18th, 2007, 09:12 PM	#4 (permalink)
Runum Level: Moderator Joined: Aug 2007 Locale: DFW Age: 49 Posts: 1,623 Thanks: 351 Thanked 116 Times in 97 Posts	Re: my story Thanks for posting Janet. Your story helps motivate the rest of us. Greg

Sep 18th, 2007, 09:29 PM	#5 (permalink)
Yankees338 Level: (3) Lamborghini Joined: Jul 2007 Locale: NJ Age: 17 Posts: 1,699 Thanks: 352 Thanked 52 Times in 46 Posts	Re: my story Thanks for sharing. I agree with Russ. It's good to see how you were able to gradually (not quite slowlane though ) build up your assets to where you have now.

Sep 19th, 2007, 05:12 PM	#6 (permalink)
tbsells Level: (8) Acura Joined: Jul 2007 Locale: Ohio Posts: 293 Thanks: 2 Thanked 6 Times in 5 Posts	Re: my story Thanks for a truly inspiring life story. Obviously, you and your husband are "doers." Congratulations! It sounds as if you are enjoying the fruit of your labor and good business sense.

Sep 19th, 2007, 06:55 PM	#7 (permalink)
nomadjanet Level: (7) Lexus Joined: Aug 2007 Locale: TX Age: 51 Posts: 322 Thanks: 0 Thanked 1 Time in 1 Post	Re: my story Thanks guys, I left out lots of little deals along the way but you get the drift of trying to form multiple income streams. I guess I am intimidated by the guys on here who are talking buying Lambo's & 3 millon dollar deals. I am used to making it a few hundred thousand at a time.

Sep 19th, 2007, 07:42 PM	#8 (permalink)
Russ H Level: Moderator Joined: Jul 2007 Locale: Napa Valley, CA Age: 47 Posts: 2,334 Thanks: 142 Thanked 188 Times in 117 Posts	Re: my story Janet, At one point or another, you have done deals or have had net worth in the $300,000 range, right? The only difference between a $300,000 deal and a $3,000,000 deal is ONE ZERO. It took me a long time to not be afraid of that one lil' zero. I actually did a post about this 5 years ago. Here's an update (titled "Don't Fear the Zeros"): http://thefastlanetomillions.com/sho...=6435#post6435 -Russ H. __________________ "Control everything. Own nothing." -John D. Rockefeller "Don't confuse motion with action" -Ernest Hemingway

Sep 19th, 2007, 07:56 PM	#9 (permalink)
nomadjanet Level: (7) Lexus Joined: Aug 2007 Locale: TX Age: 51 Posts: 322 Thanks: 0 Thanked 1 Time in 1 Post	Re: my story You have many good points and I am always impressed with your go to it attitude and thoughtful plan. I'm not saying we don't have a few million, we just did it in small bites. Right now we have real estate over 2 mil clear with no debt. We have a business that does over mil a year without hard labor on our part and with debt only on hard assets. We are liquid out about 10 years. We are holding paper for another mil but all the deals were a few hundred thousand at a time. All of the above is in addition to the Ranch and two personal homes with no debt. It's just a comfort zone we are in I guess. Another thing is we are not in CA, we can buy allot with 500k. This board is opening my eyes to some informational & managment options that I haven't looked at before and we may be changing our comfort zone soon. Today I had a meeting with our broker that will simplify & change our lives. I am reading the 4 hour work week and setting up some things on autopilot that I have a tendency to procrastinate on. I found a property manager for one of our houses at the coast that I have been hesitant to lease out because we live 150 miles away these are all things that will enable me to think of doing bigger better deals. So like I say all of you, I am learning everyday.

Sep 19th, 2007, 08:11 PM	#10 (permalink)
Russ H Level: Moderator Joined: Jul 2007 Locale: Napa Valley, CA Age: 47 Posts: 2,334 Thanks: 142 Thanked 188 Times in 117 Posts	Re: my story Sounds to me like you're pretty comfortable with the "idea" of $3,000,000! -Russ H. __________________ "Control everything. Own nothing." -John D. Rockefeller "Don't confuse motion with action" -Ernest Hemingway

Sep 19th, 2007, 08:57 PM	#11 (permalink)
Antonio. Level: (11) Honda Joined: Jul 2007 Locale: Saint Louis Posts: 80 Thanks: 0 Thanked 0 Times in 0 Posts	Re: my story Great Story;Thank you for sharing!!

Sep 19th, 2007, 09:08 PM	#12 (permalink)
ramy98 Level: (11) Honda Joined: Sep 2007 Locale: Vancouver, BC Posts: 74 Thanks: 9 Thanked 12 Times in 8 Posts	Re: my story Thanks for the inspirational story Janet !

Sep 19th, 2007, 09:13 PM	#13 (permalink)
FT1 Level: (9) Cadillac Joined: Aug 2007 Posts: 166 Thanks: 0 Thanked 0 Times in 0 Posts	Re: my story Thanks for sharing your story.

Sep 19th, 2007, 09:18 PM	#14 (permalink)
KyJoe Level: (12) Chevrolet Joined: Aug 2007 Locale: Louisville, Ky Posts: 58 Thanks: 0 Thanked 3 Times in 2 Posts	Re: my story That's a great story, in essence it's the American dream. __________________ Today's the day! Mel Fisher

Sep 20th, 2007, 01:43 AM	#15 (permalink)
PhxMJ Level: Vince from Shamwow Joined: Jul 2007 Locale: Phoenix, AZ Posts: 3,345 Thanks: 152 Thanked 257 Times in 136 Posts	Re: my story Thanks Janet, nice write up! PM me for icon status if so desired.

Sep 25th, 2007, 10:00 AM	#16 (permalink)
kelrash Level: (14) Hyundai Joined: Sep 2007 Age: 23 Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts	Re: my story Thanks for the inspiration.

	Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

Sep 26th, 2007, 08:59 PM	#17 (permalink)
triple J Level: (12) Chevrolet Joined: Aug 2007 Locale: Utica, NY Posts: 52 Thanks: 0 Thanked 0 Times in 0 Posts	Re: my story I love "underdog" stories. You came from humble beginnings, but kept moving ahead. Love it! Keep up the good work!

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