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Tired of the 9-5 grind but terrified of taking a risk?
Today, Alex Olson share his story with Caleb and Aaron on how he went from having a day job to investing in real estate and eventually founding his own commercial brokerage company, XChange CRE. He talks about why he chose multifamily commercial as an asset class and gives his insights on active and passive real estate investing.
Listen to this episode to learn more about Alex’s journey from employee to entrepreneur and strategies for creating financial freedom and time freedom.
[00:00 - 07:56] The Entrepreneurial Spirit
Alex breaks down his background, starting with side hustles
He met a mentor who convinced him to go into real estate and considered multiple exit strategies when investing in Airbnb
[07:55 - 13:24] Getting Out of The Rat Race and Into Entrepreneurship
Due to the pandemic, he was fired and forced to finally do entrepreneurship full-time
It’s a difficult decision to leave stability for risk when you have a family and financial commitments
The goal of having a W2 job is to exit to the next thing; it’s a stepping stone
[13:25 - 23:34] Combining Passion with Income in Real Estate
Alex is passionate about real estate and providing a decent home for people to live
There are many different asset classes, locations and ways to specialize in making revenue in real estate
You treat money differently when you have a steady passive income and can be more open to taking measured risks
It’s ideal to mix active investments with passive real estate investments
[23:35 - 32:59] Wrapping Up!
Find a job that fits the life you want to build and allows you to make as much money as you want
You have time freedom when you can put your phone on silent and be in control of when you look at it
Connect with Alex through LinkedIn and visit their website at https://xchangecre.com/.
Key Quotes:
"It's easier to be forced to than to make that decision on your own." - Alex Olson
“Look at reasons to do deals. Don't look at reasons not to." - Alex Olson
“Find something that you're happy doing and that you can maximize your time that you're in there. If you don't enjoy doing it, you're not really ever going to be financially free because you're just unhappy.” - Alex Olson
Resources Mentioned:
Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zelle
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