Road To Entrepreneurship

With all the different lines of work that I’m getting myself into, it’s all for the mere reason that they will help me become what I truly desire.  That being a successful, respectable, and powerful entrepreneur, and before then will stop at nothing to achieve nothing less than that.  I know that down the road it is inevitable for me to not experience feeling lost, defeat, failure or anything of the sort.  And yet I know that it is not how to avoid experiences such as this but how to bounce back from them maintaining a strong persistent personality never letting any of the negatives get to me. With the feeling of defeat, being lost, or failure there is only one thing to do at that point and that is to remain persistent to whatever it is that I will be doing, altering and improving any previous steps to achieve anything that I have failed to accumulate.  For example if for some reason my business or real estate plan fails, creating a whole other plan or giving up all together is out of the question.  Pin pointing all steps to the plan that failed, accepting the failure, then altering those select steps in such a way that makes it different and potentially superior to the last step.  With that being said I will now enact in the road to entrepreneurship where I will maintain getting good grades in school ranging anywhere above a 3.6 average GPA.  During school off season of the summer 2018 purchasing and enrolling in my first buy and hold real estate investment will come in to play.  All the while working at my fathers firm in San Jose, doing busy work around his office as well at networking and meeting people that could potentially become an asset of mine later on down the road.  And learn to the best of my ability everything I can possibly know from classes, clubs, speeches, seminars, etc all based on my majors and future professions of Entrepreneurship and Finance.  While doing so maintain a strong sense of auto-suggestion to help motivate me and also allow me to achieve my future income of a Ten Figure Bank Account, where I will stop at nothing to achieve it until death do me part.

From Here On Out

So throughout the rest of my college carrier my biggest focus’s should be that of maintaining good grades as well as networking whenever possible.  Later in college I will enroll in a finance club as introduced in a previous blog post in order to give me more knowledge on a subject that I will put more emphasis on in the future.  With the knowledge that this club gives me it will hopefully allow for a better understanding on on what I’m to be doing in my majors of Entrepreneurship and Finance.  If not then it will at least allow for more networking with people of similar interests.  After the purchase of a property that I intend to move on I will live in it until the time comes that I transfer to SDSU where I will maintain this buy and hold investment in Chico hiring a property manager in which I trust.  Then once in SDSU I intend to look for yet another property in which I can go forth in another buy and hold real estate investment.  Transferring to SDSU is something that I feel is the right move not just because its real estate there is flawless but also because of something more spiritual.  As corny as it sounds whenever I go to San Diego I just get a feeling of belonging, that I am meant to be there in order to fulfill my dream of becoming a successful entrepreneur.  When college is all over and I have a strong understanding of my two majors of entrepreneurship a finance my dad will hook me up with a investment banking firm in which he has the most connections to.  My dad who is a CPA happens to have the most pull on a global investment banking company to what many know as Goldman Sachs.  So either Goldman Sachs or any other relatively profitable investment banking firm I hope to learn the logistics around money as well as acquire the proper knowledge surrounding businesses and investing in them.  Once comfortable enough to run my own company either by investing in a promising company in which I will own majority equity in, or perhaps start my own and use the skill set acquired from college, real estate, and investment banking to successfully engage in entrepreneurship.

Actions to Take Actions to Break

With my goal to become a successful entrepreneur there will be many obstacles and different ways in which achieving this goal will then become possible.  So with that being said there will be numerous things in my life that I will have to alter, replace, give up, and also things I will need to pick up on in order for this goal of mine to become sound.  First things first is the scholastic portion to this list of actions needed to take and break.  Throughout the first few months at Chico State with the first semester coming to an end I can honestly say that I’m a fairly studious maintaining a 3.8 Average GPA.  But some say including myself that perhaps I’m a little too studious creating a more anti-social person who’s only focus is that of good grades.  As okay as that sounds to most from an economic and also business standpoint it really isn’t.  In economics there is a term called Margin Analysis in which according to Investopedia.com is the act of spending unnecessary excessive amounts of time on something for the same result as a less excessive amount of time on that same something.  That something for me happens to be studying, and I’ve noticed that within the majority of my classes I have been overly studying for the same result if I were to study less.  This is also bad in a business standpoint too because being anti-social means less networking and becoming less capable of the act of networking.  with that in mind for me to achieve the breaking of that action I will soon take an action, being the enrollment of a club based upon what I intend to do in the future, the two that stick out to me as of now is the Investors Club and the Finance Club.  With the enrollment of one of those will not only help me study less but also become less anti-social allowing myself to interact with those of similar interests to me.  The last and perhaps the most problematic action of mine that I intend to break is that of procrastination and the elimination of various different means of procrastination.  Procrastination is in human blood nobody can eliminate it all together but can seriously reduce its takeover.  I will admit that I like many others do have a problem with procrastination, maybe not with school but for outside school business related activities absolutely.  If I ever wish to achieve my first buy and hold real estate investment then I will seriously have to cut down not only to different electronic means of procrastination but as well as various different college social activities like drinking and partying.  Drinking and partying is a luxury of college not a necessity and if I am to become a successful entrepreneur not eliminate it but cut down on it for sure.  By enacting in the elimination and accumulation of these actions will allow me to then see more clearly what I am to do next.

Real Estate Investment Plan

Within this blog I will be describing my real estate investment plan for acquiring my first Buy and Hold real estate property.  For the making of my real estate investment plan I found all the information that is needed to make one in a book, on a website introduced in a previous blog post called BiggerPockets.com.  The book is called Ultimate Beginners Guide to Real Estate Investing written by Josh Dorkin founder and CEO of BiggerPockets.com.  I follow the majority of steps and guidelines stated within this book, and found the information within it to be very useful giving me the ability to plan out what to do next.  In regards to my plan I will not share all the steps that I’ve incorporated into my plan because it would simply take up way to much space, and be extremely wrong.  Instead I will share the most important parts and steps I feel are the most useful.

My Plan:  As of right now my main investing focus’s are in Buy and Hold investments with emphasis on single/small multifamily properties.  In the near future I intend to accumulate my first real estate investment right here in Chico, CA.  From then on and in the future in real estate I will provide people with a reasonably fair priced unit/house to rent out of a single/multifamily property.  By the end of summer 2018 I will effectively enacted in my first Buy and Hold real estate investment where I will rent out rooms or units to those who may partake in the act of living in this property.  Since there are too many properties to choose from a list of criteria will be set in action (in which was made upon viewing the website mentioned in a previous post Homesnap.com).  I’m looking for a property within a 2 mile radius from CSU Chico under $500,000.  This property has to be fairly well managed (no intense rehab).  And as of my loan, I will need a loan of at least 85% property value coming from either a Private Money Lender, partner, or FHA loan.  Once the purchase of the select property is at full effect I will use the monthly rental income acquired by the tenants and use it to pay for all Fixed Costs of the property.  Fixed Costs as in utilities, vacancy, repairs, CapEx(Capital Expenditures), property management, and mortgage.  If all is done well I should have a positive Cash Flow and Cash on Cash Return on Investment (COCROI) of around 10%, and later on down the road if the market goes up then selling the property should be the next thing to do at that point.

Future Intentions (Real Estate)

When I buy my first property; preferably being a multi-family one, I will rent out different units of it to other people allowing them to live in the same property as me for a monthly rent.  In other words I will be enacting in a Buy and Hold real estate investment.  Now you might be wondering how a 18 year old will come up with the money to purchase a property of that magnitude.  Well that’s where things get a little complicated, as of now I have two options in buying this property, one is to apply for a FHA loan, and the other is to find and make a deal with a private money lender.  If you do now already know a private money lender is an individual with a lot of disposable money in which is willing to invest it for a debatable interest rate and point system.  An FHA loan is a little easier to acquire for me as of now because it requires a person who intends to live in the property that he is hoping to buy.  Both the FHA loan, Private Money lenders, and other forms of loans can be found on BiggerPockets.com/ubg.  The FHA loan requires a 3% down payment and a exceptionally low credit score, but the how of this buy and hold investment will be elaborated on more in the next post.  By the time I’m almost ready to purchase the property I intend to have a firm grasp on analyzing different properties for buy and hold purposes.  Once I acquire this property I will then already have people in which will be renting out different units in this multifamily property, giving me a monthly rental income, allowing me to pay for different expenses like vacancy, HOA, repairs, mortgage, etc.  When all is done and settled I believe this buy and hold experience will give me a much better understanding on real estate investing and allow me to go forth in real estate investments much more consistently.    

Current Interactions(Real Estate)

                                                  

In previous blog posts I’ve stated that real estate plays a important role for me to become a future successful entrepreneur.  Not only because the majority of successful entrepreneurs now and in the past were all part time real estate investors, but because real estate can give me some quick insight on how to interact with clients, partners, and businessmen in the sense of networking and sales.  As of right now I am currently working with my mother who is a real estate agent working for Richie Commercial Real Estate with different ways to come across my first deal.  She is giving me inside information on some key factors of real estate by helping me with different networking and marketing abilities to insure that my name gets out so that I will become more recognizable as a trusted real estate investor, as well as acquiring me with more potential deals.  My dad who is a CPA is currently and will in the future give me the financial and legal limitations of what I intend to do.  My father too helps me with different networking abilities when ever I get the chance to see him by introducing me to new, present, and sometimes former clients of his.  Which doesn’t just help me improve my business speaking capabilities but also could potentially ensure a future client or partner of mine.  With all that my parents have showed me, it has given me great knowledge on what to do next.  My mom has introduced me to a iPhone and computer application mainly for people in the real estate business called HomeSnap, which is a application that enables you to spot out different properties in any area you desire.  This app also allows you to see a majority of aspects of the property like the price, area, whether it’s on contract, whether it’s been sold,  etc.  So I’ve been using this app for about a week and already finding a mass variety of single/multi-family homes that I would like to purchase for my sophomore year in college.  By doing so I will be engaging in my first Buy and Hold real estate investment which will be elaborated on in the next blog post.

My Journey So Far

 

 

For this blog post I would like to give some incite information on the process by which led me to pursue my dream of becoming a successful entrepreneur.  In the beginning of my high school career I wasn’t too fond of being behind a desk for the rest of my life.  Instead I wanted to be something different something that gives me adrenaline when I do it and would be something that I would look forward too when waking up.  Which was my want to be a professional BMX rider because that was the only thing I was good at in that point in time.  But it wasn’t until I broke my leg doing a trick that I had just learned called a Air-Barspin that I realized that this probably isn’t where my future is.  While struggling in the everyday life at school with a broken leg I started to really focus on academics, and later got convinced that there isn’t enough money in BMX riding but there’s relatively unlimited in the business side of things.  And that’s when I decided to devote my life to try to become a successful entrepreneur.  Throughout the rest of high school I tried to find things to help me along the way, for example the first book I had ever read; not including ones in high school because I didn’t read anything there; was a book called “You Don’t Have to Be a shark” By Robert Herjavec.  Which is a very good read about salesmanship and how you use sales not just in business but also your everyday life.  In my senior year was when I really started to pick things up in terms of studying for different ways of starting a business.  I started to study real estate because from different podcasts and entrepreneurs I’ve seen they all had a something in common and that’s real estate.  Every successful entrepreneur out there except a select few are also part time real estate investors, which then convinced me to start studying real estate investing.  I started studying different podcasts and books all on a website called “Biggerpockets.com” (which I will elaborate on in a different blog post), and it gives you all the info you need on just about every kind of real estate niches and strategies.  Now that I am in Chico State I haven’t had a whole lot of time for studying real estate but I still try to do what I can and cannot wait until I achieve my first deal this coming summer.  Which will be my first big stem in becoming a successful entrepreneur.

Personal Statement

In the previous blog post I talked about how the proper mindset is essential to becoming just about anything in life.  I also talked about how creating your own personal statement that you will repeat to yourself everyday and night will force yourself to believe that you are going to do whatever it is you intend to do.  In other words auto-suggestion.  For this post I would like to share my personal statement and the appropriate way to write one.  In the personal statement it should include a realistic goal in which you intend to achieve in a appropriate time period being no more then 5 years.  However the most effective time period to be stating your goal is within 1 year because a lot can occur in 365 days.  The statement should also include the method in which you intend to accumulate and what you will do with whatever you accumulate.  Lastly it should include the weaknesses you have been forced into habit and state ways in which you will change.

My personal statement:  “I Austin Dippel swear to permanently change my ways of being a kid full of cowardice attributes and means of procrastination to a well productive, smart working man, who will overcome and confront anything which may cross his path.  Approximately three months from now on January 1st 2018, I intend to accumulate $10,000 based off two or more real estate wholesaling deals.  With this money in my possession I will use it to further invest in myself in the ways in which I accumulated this money.  But prior to all of this I intend to create a proper plan in which I will use to achieve my short term goal of accumulating $10,000 by efficiently following the steps of the plan.  I can now see my self in possession of this money, my faith is strong that I will achieve this amount of money in the time period given.”  If you wish to create a statement of you own for whatever reason you have to repeat it to yourself every day and night to ensure auto-suggestion.

Mindset

If you wish to be just about anything in life whether its becoming a teacher, firefighter, Frog Man, police officer, real estate investor, or entrepreneur the most important thing one can posses to achieve his/her goals is the proper mindset.  In the book “Think and Grow Rich” by Napoleon Hill you can find just about all the things you wish to know about how acquiring the proper mindset can and will allow you to achieve anything you want within reason.  Auto-Suggestion: “Manifesting things in your life by putting focus on them and repeating mentally or verbally what you wish to manifest”.  Auto-Suggestion which is one of the main points of his book is probably one of the most important mindsets one can acquire.  With is acquired can and will help with a majority of things being the enhancement of your financial well being, accomplishing goals, attracting friendships, and countless more.  Basically what the concept of auto-suggestion implies is that it’s where you convince yourself that you can achieve something, and you keep reminding yourself that your going to do whatever it is you intend to do everyday verbally or non-verbally.  Now in my pathway to becoming a real estate investor and entrepreneur it is almost required for me to introduce auto-suggestion into my life.  About 4 months ago I started this process in finding 2 goals short term and long term that I can induce auto-suggestion too.  The process by which you create your written statement to induce your form of auto-suggestion is called your personal statement.  For the past 4 months I have been reciting my personal statement every morning and every night.   If you do this and completely convince yourself that you will do whatever it is that you intend to do, the next step is for you to take the proper actions to accumulate your goal.

 

Becoming An Entrepreneur

Hello, My name is Austin Dippel I’m from San Jose CA and I’m currently a freshman at Chico State.  Ever since I was about 12 years old I’ve always dreamed of becoming something of myself whether that be becoming a successful entrepreneur or joining the navy.  But as much as I don’t want it to be It’s pretty clear to me that joining the navy is out of the picture at this point in time.  So instead I want to share my step by step process and business plan to becoming a successful future entrepreneur and how my soon to become Real Estate Investing Career will have a roll in it.  With this process I hope to inspire as well as give people reading these blogs the proper knowledge to potentially go on the path that I am to be going on.  I also plan to give some “do’s” and “don’ts” throughout my past experience as well as things I am to experience within these next few months.  Throughout my life my my parents have played a huge role in my decision to become a entrepreneur and part time Real Estate Investor.  My Mom is one of the few women Real Estate Agents in San Jose CA and also the founder of a non-profit association called “Silicon Valley Cares”.  You can find further information on her organization at http://www.siliconvalleycares.org.  For the past few months she has been helping me with my recent interest in becoming a Real Estate Investor by providing me with pointers, automatic email alerts, and general information on some deals, and people she comes across.  My Dad is a CPA and provides me with all the financial steps I should or shouldn’t take in my way of becoming a Real Estate Investor and Entrepreneur.  And for more information on where he works and if you ever need to get in touch with a CPA for whatever the reason may be you can go to http://www.delucchihawn.com.  My dad also  gives me some insight on types of businesses and introduces me to current Entrepreneurs, Investors, Attorneys, bankers, etc.  Which in turn is great networking allowing me to meet potential mentors, partners, or clients of mine.