Quick Facts:

• Profit Strategy: Wholesale
• Number of Units: 44
• Personal Money Invested: $100
• Amount Earned: $36,000
• Prior Experience: Peter had previously run a successful construction company that replaced windows, doors and roofs, but no prior real estate experience.

Peter worked in construction — roofing, windows, and doors. He had renovation skills but had no interest in real estate investing due to an experience in his youth.

His parents owned a two-family house, but all he remembers is the nightmares with the tenants. He told himself, “I don’t want to do this ever. Nope, nope, nope.”

Peter’s Call to Adventure

Over time, however, he learned the merits of real estate investing. He realized that “many people have become wealthy from investing in apartment buildings. From this, they create generational wealth. They own the building, put it in a trust, and take care of their family for generations.” He exclaimed, “I wanted to do that!”

He emphasized, “I wanted to create something that would outlast me.”

Peter’s First Mistake

Ten years ago, Peter was working on a construction project in Florida. He was earning a good living, and life was going well. Money was flowing. Cash was good.

He found his first deal.

He took the project on without any guidance. In his own words, “that was a big mistake. Huge mistake. I didn’t know what I was doing. Luckily I realized I was in over my head, so I backed out of the deal. I realized I needed to learn more.”

Peter concedes that he isn’t a “detail person.” This was the first hurdle he needed to overcome. As he puts it, “there are details, but I figured, I’ll work that stuff out later. And let me tell you something. Those details are critical.”

Peter’s Next Steps

He finds another deal: a 44-unit building.

But sometimes, life turns, and you don’t see it coming. In this case, it started with the economy. The job ceased, and the money dried up. He elaborates, “we were drowning in debt. We were trying to survive. A wise man once told me that love goes out the window when money problems come in the front door. That is precisely what followed. I went through a divorce, and it took me a while to bounce back. I was just trying to survive at that point.”

This downward spiral hit at the exact moment that he was working on his first deal.

He found Lance’s course and saw the light at the end of the tunnel. Perhaps if he learned from Lance, he could salvage the deal and make some money.

The problem: Peter didn’t have enough money to invest in Lance’s course. But as he proceeded through his first deal — before Lance’s extensive training — Peter realized he needed to find a way to enlist Lance’s help.

His Realization

He elaborates on how dire his situation was. “People ask me if I truly only invested 100 bucks in my first deal. They don’t believe me. But I didn’t have any money. We had money before, but when this deal started, our money problems began. And suddenly, I didn’t have enough money to put food on the table, let alone try to get this deal done.”

Somehow, someway, Peter found the resources to work with Lance. That decision was the best one he’d made. Peter now had the tools to salvage — and ultimately close — the apartment building.

The process to get to that point wasn’t without lessons.

The following story illustrates what Peter needed to overcome. “It was fear. I had the deal in place. The contract was signed. Everything was good to go. All I had to do was give a deposit. But as I mentioned, I didn’t have the money. I had to borrow the money. I put a check in an envelope. It was ready to go with stamps on it. I had that envelope in my hands. And I’m holding it while pacing in front of the mailbox. I’m thinking, I’ve just got to put it in now. And that’s it. That’s all I have to do. Ten minutes pass. I couldn’t stop doubting myself. Finally, I threw the check in the mailbox. The relief was incredible. That struggle may seem ridiculous, but it was a mental struggle. Once I got past that, only little steps remained. Once I got to that point, I knew I could finish the deal. Anything else I encountered would seem easy.”

Peter’s Vision

Peter has big plans, but as he puts it,  “if you don’t set goals, you won’t go anywhere. I want to create wealth beyond me. I want my grandchildren to enjoy it. The goal that I have in mind is to have assets worth $333 billion.”

His ultimate dream is to own a couple of homes. One on the beach, one on a lake, and maybe one in the mountains. He’ll have a management company taking care of his real estate holdings, and he will have money coming in. He’ll enjoy life “the way it is supposed to be.” He imagines fishing with his not-yet-conceived grandkids on a little boat on his lake.

Peter certainly has lofty financial goals for himself and his family. But he also wants to give to others. He explains, “money is only money until you do something with it. God doesn’t want us to simply pile up money. He wants us to help each other.”

Peter yearns to set up a couple of college funds. Additionally, he visualizes helping an organization he works with already that cares for neglected farm animals.

Peter’s Evolution

Peter’s confidence soared as his mindset shifted. He describes his internal dialogue, “I realized if I could do this, I could do anything. So that was a tremendous experience.” He says he owes a lot of his success to Lance.

Peter describes how he has changed. “That deal taught me to be persistent. I decided to use everything I learned in my life and run for Congress. That wasn’t an easy decision. But I realized I could do this because I now believe in myself. I know I’m tenacious enough to get it done. In addition, my kids see me as an example. I teach them to have the same determination.”

He shares that one of his sons wants to be a general manager for a football team. Another son wants to be a neurosurgeon. His daughter is starting a restaurant, and she’s recorded an album. While achieving those goals will take determination, he knows his kids are equipped to achieve them. They tell him, “Dad, we are your children. That’s why we know we can do it.”

The Deal Changed His Life

This experience forever impacted Peter’s life. He describes, “I have money now. But I remember a point when I had $0.35 in my pocket. I was asking myself, how will I make things happen? But I realized I just needed to keep moving forward. And now I am in great shape.” 

The fear is absolutely what got in his way. He explains, “I told you my story about standing for 15 minutes in front of a mailbox, getting up the courage to put the deposit in the mail. Come on. To mail a letter. That was pure fear. Now that I’ve overcome that, I know if fear ever sticks its ugly head out, I’m not afraid anymore. You have to believe in yourself.”

He summarizes the reasons for his success: “I knew I could get through it by listening to Lance and taking on the challenges with him by my side. I’ve learned if you can find someone to lock arms with, you can get through anything you encounter.”

His future is going to be “immensely better.” He explains, “I know we’re on the right track, and now I’m ready for any obstacle that might come my way.”

He raves about Lance’s influence on his life. “Lance has a heart of gold. I have worked with him on and off for at least ten years. He asked me to trust him, and I did. I went forward. And a lot has happened.” He continues, “I’m happy. One of the happiest moments in my life is the experience I had with Lance Edwards working with me on my deal. He’s a great guy.”

Peter’s Advice

His advice is simple and straightforward. “Know that fear will raise its ugly head, but you’ve got to trust that Lance knows what he’s doing. I am incredibly grateful for Lance’s support and training.”

Lock. Arms. With. Lance.