Active Duty Army Officer & Real Estate Investor - Dan Wynn Episode #56

Dan Wynn  joins us in the lab as an active duty army officer and real estate investor that buys and holds real estate utilizing the BRRR strategy to grow his real estate portfolio while leveraging VA loans. Dan is also the Host of the Financial Freedom Journal where he is actively preaching the importance of the building financial freedom to spend quality time with his family while building generational wealth along the way. THE REAL ESTATE FOUNDATION 12:35 Background story in Real Estate path 16:02 Transitioning to Real estate 18:16 First Deal and got denied by 3 different banks (Story) 18:58 Creative Financing and Hard Money 20:30 First Deal (live and Flip) 22:10 First Real Deal - After about 2 years "Infinite Returns" 24:50 VA Loan 26:05 Getting out of VA Loan 27:48 BRRR Means (Buy Renovate, Rent, Refinance) 29:00 Deal where you learned the most in? 31:14 What Lessons I’ve learned from this? - keep building your team 31:45 What is the Importance of having a licensed contractor? 33:04 Who were the People on the Team? 34:08 How do you track progress along the way? 36:40 What does Managing property look like from far away?  Delegated everything to property manager KEEPING IT REAL 39:33 Biggest mistake you've made in real estate Couple of Deals went very very well and very very Smooth I did not have the proper systems set up Did not have the proper things set up, Kinda thought I kinda know what I'm doing here. It should work really well. It just didn't go that well, but that's a learning lesson, It cost some time, cost a little bit of money. But those experiences are invaluable, cause you take all those experiences with you to the next deal, and you became just much better. You're sharpening your sword basically. 40:43 What other systems might they need to scale the right way? 42:37 What do you have to say about we are trying to do so much before we actually focus, analysis paralysis? I know what Experience I had before - Building a Rapport knowing the things that I know now. 44:00 Best Advice ever received - Take Action... don't just get paralyzed by fear. 45:15 Worst Advice ever received 48:40 Most influential person for achievement (My Kids) BOOKS MENTIONED IN THE LAB The Monk Who Sold His Ferrari - by Robin Sharma E-Myth - by Michael Gerber Four Hour Work Week- by Tim Ferriss Think and Grow Rich - by Napoleon Hill The 10X Rule -  Grant Cardone Be Obsessed or Be Average - by Grant Cardone Willpower Doesn't Win - by Benjamin Hardy The Compound Effect - by Darren Hardy Notable Quotes (key lessons): “Take Action... don't just get paralyzed by fear.” “Build as many experiences as you can...” Connecting with The Guest Major Platforms Financial Freedom Journal - on Podcast and Youtube Channel Instagram | Youtube | Facebook | Linkedin @Danwynnrei #ExperimentInvestor #ExperimentScaling