3 Tips From an Entrepreneur Who Retired at 39 and Made Millions In Real Estate
Andrew Sallee was a successful salesperson at the early age of 20 through selling windows, siding, and roofing.. He learned the value of hard work and determination
At 27, he read Robert T. Kiyosaki’s Rich Dad, Poor Dad, despite earning around $350,000 per year through his sales job, he had no passive income and wasn’t actively investing it. . As a result of his findings in the book, he turned his attention to building his wealth through real estate.
Sallee started building a real estate empire from the ground up. The first step was building a home improvement company. He invested $75,000 into his home improvement business and began to focus on his own companies rather than working for others. After spending several years establishing his home improvement company, he realized it was time to start buying more assets. With a shift in focus, he started buying apartment complexes and later, commercial properties. “My first commercial property was a strip mall in 2008. It was a learning experience.” The main lesson taught was perseverance. “I didn’t want to use partners or raise capital, so I had to find a bank that was willing to work with just me. It took over twelve banks before I found one that would approve my loan.”
Sallee’s self-made success has continued for the last decade. In 2015, at the age of 39, he retired and closed all of his companies, transitioning his focus to primarily commercial real estate to generate passive income. Sallee currently has $145 million in assets.
But his success was not reached with ease. It took hard work, self-education, and dedication to reach his retirement at 39 and passive income results.
Sallee has three key tips for success for those looking to reach the point of passive income as their full income.
Tip #1: The People You Are With Matter
Surround yourself with like-minded people. As you reach your goals and spend time trying to improve your lifestyle and passive income, it is vital to surround yourself with others who are seeking success and have a similar mindset. This can mean trying to level-up your network in order to surround yourself with like-minded people so that they push you to be better and encourage you to reach your goals.
Tip #2: Thinking Bigger Is Crucial
Think bigger. Expand your network and start tracking ideas from the people around you to prompt your own. Watching others be successful in their own business practices can expand your knowledge and your appreciation for their work. If you limit yourself to small, simple ideas, small and simple results are what you will receive. Being able to expand your knowledge and ideas is vital to success.
Tip #3: Self-Education Is The Shortcut
In order to ensure his long-term success, Sallee is committed to educating himself as much as possible. Sallee reads over 50 books per year. This dedication to success is what he credits his “overnight success to.” Of course, he doesn’t believe in overnight success. “The challenge is everyone wants to become a millionaire in a year. I want to get rich for certain, not just for the short term,” Sallee said. Continuous education is how successful entrepreneurs are born. The more you can know, absorb, and apply to your own work, the better results you will have as you head towards your goals.
Andrew Sallee is a real estate entrepreneur who is not only successful but also committed to giving back to the industry. Through his mentoring and coaching, speaking engagements, and philanthropic efforts, he is making a positive impact on the lives of others. Sallee is proof that success is not just about making money, but also about making a difference in the world around us. For more information about Sallee, you can join his 1 million plus followers on Instagram.