The speaker shares their journey in entrepreneurship, including selling sports cards, beanie babies, and jewelry. They discuss making and saving millions of dollars, the importance of saving money and making wise investments, and the success of their 'we buy gold' stores.
09:35
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Quick takeaways
Starting a business at a young age and exploring different profitable opportunities can lead to significant financial success.
Capitalizing on market crashes and buying discounted properties can lead to highly profitable real estate investments.
Deep dives
Success in the Sports Card Business
The speaker started their first business at 15, selling sports cards. They attended sports card shows every week and quickly became skilled at buying and selling cards, making close to $1,000 a week at just 15 years old. This success continued into their teenage years, with earnings of $1,000, $2,000, and even $6,000 a week. This initial business venture led to exploring other profitable opportunities.
Transition to Beanie Babies and Jewelry
After witnessing others making more money selling beanie babies, the speaker ventured into this market as well, eventually saving their first $10 million by their late twenties. The success continued in the jewelry business, with the speaker and their partner making $100 million in profits and generating over half a billion dollars in sales. They had over 300 locations nationwide and faced the challenge of figuring out how to handle the significant influx of money.
Smart Real Estate Investments During the Recession
During the 2008-2010 market crash, the speaker capitalized on the opportunity to buy properties at foreclosure auctions for significantly discounted prices, using their cash reserves to make purchases while others struggled to secure loans. This strategy proved successful as they bought hundreds of properties, turning them into rentals. Despite the property values plummeting, rental rates remained relatively stable, allowing the speaker to acquire properties for as little as $20,000-30,000 that were originally worth $200,000-250,000. These real estate investments became highly profitable, and the speaker still retains approximately 30% of the purchased properties, which have appreciated significantly in value.
He made millions selling what?! --- Want to be coached by me on real estate investing? Join our Wealthy Investor program today at https://wealthyinvestor.com/podcast ---
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media a...
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