10 Rental Units After Starting with Just $3,000

If you want to buy rental units, you’ll have to develop some entrepreneurial skills. But what if you find yourself in the W2 world, wanting to break out and work for yourself, building wealth through real estate? That’s exactly how today’s guest felt.

After years of being in and out of the prison system, Sterling Shrout needed a change. His whole life he considered himself a “bad employee” until he finally realized he wasn’t meant to be an employee, so he turned to real estate.

He began by listening to The BiggerPockets Podcast and any other educational material he could find. From there, he became hooked on the idea of creating opportunity and building capital through self-employment. Besides owning his own home, something he never thought he would do, Sterling has now closed on ten doors in less than two years!

We touch on topics like overcoming self-doubt, finding a business partner, going from an employee to an entrepreneur, triple net leases, and operating agreements. If you want to begin the journey to self-employment regardless of your past, this episode is perfect for you!

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Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
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Get in Contact With Sterling:
https://www.sterlingshrout.com/about-me
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The Dayton Real Estate Network:
https://www.facebook.com/groups/DaytonRealEstateInvesting/
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The Relationship Game and Why It Matters in Real Estate:
https://www.biggerpockets.com/blog/relationships-matter-real-estate
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How to Become an Entrepreneur: 4 Vital Tips for Success:
https://www.biggerpockets.com/blog/how-to-become-an-entrepreneur+
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Triple Net Lease Investing (NNN):
https://www.biggerpockets.com/blog/2013-02-04-triple-net-lease-nnn
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Follow Ashley and Tony on Instagram:
@wealthfromrentals or https://www.instagram.com/wealthfromrentals/
@tonyjrobinson or https://www.instagram.com/tonyjrobinson/

Episode 137

Show notes at: https://www.biggerpockets.com/rookie137

0:00 Intro
4:24 His Start in Real Estate After Probation
9:19 Overcoming the Odds
16:06 Finding and Building Business Relationships
19:30 How to Transition From Employee to Entrepreneur
23:27 The Basics of a Triple Net Lease (NNN)
25:53 A 25% Interest Rate!?
33:04 Building a Solid Partnership
38:23 Finding the Right Business Partner
44:26 Rookie Deal Review
50:13 Rookie Request Line
54:22 Rookie Rockstar