BiggerPockets Money Podcast 384: How Red Robin’s Waiter of the Year Built MULTIPLE 9-Figure Businesses
Every entrepreneur wants to build a nine-figure business. Even a million dollars in revenue seems like a dream to the everyday American. So how did a Red Robin waiter, making five-dollar tips, leave college to start one of the fastest-growing real estate businesses in the country? Even better, how did he do it multiple times, creating not one, not two, but a group of entrepreneurial endeavors that casually bring in over nine figures each year? If you want to hear his system to success, you’ll have to stick around.
James Dainard didn’t know much about real estate before college. After his roommate (and now business partner) started door knocking for local wholesalers, James decided to give it a try. He was miserable at it, barely getting a single deal done before leaving college. But, when offered a cushy six-figure salary, James declined, knowing that there were still riches to be made in real estate, but only if he worked smart.
Fast-forward fifteen years and James owns a slew of real estate-related companies. From a luxury house flippingbusiness to hard money lending, a successful brokerage, a real estate development firm, and more, James didn’t just master one business—he mastered anything he could get his hands on. The best part? You can do this too! James drops some time-tested gems on starting, building, and scaling a business that will allow you to grow at an almost unbelievable rate like he did.
In This Episode We Cover
Why James declined a $200K salary (out of college) to make a business-bet on himself
Door knocking, wholesaling, and the BEST ways to make money as a college student
Frugality, keeping expenses low, and the massive benefit of reinvesting every dollar you have
Hard money lending, real estate syndications, and other highly-profitable businesses most investors are unaware of
Structuring your team and how to scale your business even if you don’t have leadership experience
The struggles of being a CEO and what to do when your strategy isn’t working
Why every business needs a “quarterback” and a “coach” to succeed
And So Much More!
Links from the Show
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Check Out Mindy’s 2022 Live Spending Tracker and Budget
Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio
How to Become an “Overnight” Success in 10 Short Years with David Greene
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-384
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