From Lost to $15K: One Phone Call Changed Everything for Him | Phillip Godkin
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What inspired Phillip Godkin to start his real estate journey?
back to you know, what was that first year? So like, what was that journey prior to me looking like for you?
So it really, it all started for me in Nashville. I'm back in Milwaukee now, but I was in Nashville in 2022, 2023, first part of 23. And I answered a bandit sign. I just called the number and it turns out it was some wholesalers. Yep. Net worth realty. Anyway. Yeah. Just met with the guys, started realizing like, holy crap, this world of real estate investing, this is something I should have done 10 years ago. And of course, it's the next best time to plant a tree right now. And I just, I went to a, I went to a, yeah, right. I went to a real estate investment association meeting in Nashville. The room was filled with people, big players, guys that, you know, have been doing it 20, 30 years. and really just got my eyes peeled back to the world of real estate investing. I mean, the verticals were just mind-boggling, you know, from fix and flipping to rentals to multi-units to, like, I met the gentleman who is building the high-rise buildings in downtown Nashville, right?
Like, yeah, just amazing. And it was then I said, you know, that's it. I'm getting into real estate. I'm just going to look learn whatever I can learn, however I learn it, but I'm not stopping and I'm not giving up. So, you know, here I am back in Milwaukee, working with you in your REI Live, you know, science of flipping was something, you know, that I saw and I looked at and, you know, just all that whole fix and flip. And in reality, Justin, I was like, I don't have the crews. I don't know that I want to manage the crews. I don't know that I want the downtime carrying costs of when, you know, the crew doesn't show up. All these pitfalls. I mean, yeah, I get it. You make money when you solve people's problems and you're going to run into these pitfalls. But I just wasn't really willing to do it. But I had this attitude that I was not ever going to give up. In fact, I had a bracelet.
I don't have it on right now, but it says never give up, you know. And so I would look at that every day. And, you know, we all have. You know, we all have our reasons. Right. And one of the big things is they're like, what's your what's your why? What's your why? What you know. Right. What is it that make you get up every day? Well, you know, I have my reasons. I have my whys, you know, and it's always family. And at least it should be right to provide a better a better life for your family. Right. Maybe provide something for your children. Yeah, if they buy into what you're doing and they want to get involved, maybe that idea works. But it's really just to provide a better life for my family.
You know, I said this in the last one. One of my mentors gave me some great wisdom, and it's probably a line, his most, I guess, retained thing he taught me, weirdly, but invest in current living. And you're kind of circling that subject, right? Really, it's great to be able to pass something down to your kids or your grandkids. But the reality is we get one ride on this roller coaster, right?
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Chapters
6 chapters
1
What inspired Phillip Godkin to start his real estate journey?
1:19–8:15
2
How did Phillip overcome challenges in real estate investing?
8:15–13:11
3
What are the key factors for success in real estate according to Phillip?
13:11–34:48
4
How did networking contribute to Phillip's first deal?
34:48
5
What lessons did Phillip learn about taking action?
30:14–39:30
6
What advice does Justin give about creating revenue-generating activities?
33:08–39:30
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