In this episode, Johnny Lynum, an active-duty officer in the United States Air Force Lieutenant Colonel, seasoned real estate investor, entrepreneur, and coach shares his journey to building a $4.7 million portfolio. Johnny shares how in the midst of disasters, he figured out how to pivot in order to close on deals and form win-win situations for both himself and the sellers.
01:50 - 02:27
So I'll through my service so been in 16, almost 16 and a half years in the air force. I'm still currently serving right now. And so all this has been in lieu of my service and kind of built a business around real estate investing that kind of kicked off around 2015 when my wife and I, did our first fix and flip and started actively picking up more rentals and getting more of the renovation in burrs to kind of build up our portfolio. And then, uh, you know, it kind of accelerated the last few years in Panama City, Florida at hurricane Maria, devastated that area and just helping to build back the community that it was just a match made in heaven.
03:20 - 04:18
Um, and now I tell people, you know, more smart work as well, too, but just the value
of education and information and being able to, uh, to pick up, you know, whatever
the information is that it doesn't necessarily have to come in a formal setting. And, you know, so that kinda just grew me into the individual the man I am today. And, uh, you know, now, and I have a beautiful wife of 11 years, three kids, and we just kind of been going down this journey together and, uh, you know, and it's really been a journey and just a process of all these years, just kind of going through the military, moving around every three or four years, you know, starting to build generational wealth, learning all these, uh, Strategies and habits that the wealthy use in order to build large portfolios and to build generational wealth, but kind of taking that mindset and just building up over time. And now to the point now kind of coming to all together with the book that I was able to write this year, and then now just formerly coaching
and helping other people integrate real estate into their portfolios.
05:09 - 06:02
It all went back to using my VA loan. And, uh, you know, even before then, I didn't know a whole lot about financial literacy, you know, you're creating rapport, your credit score and things like that. And when I came into the service, I, you know, I kind of shared that in my book about how my credit score wasn't the greatest. I actually had to have another family member sign on my apartment, lease with me. And, but that kind of showed me, it was like, you know, Hey, I am an officer in the air force. It started off in my career and I'm like, I can't even get an apartment right now, but I took action. I started rectifying those shortcomings and learning more about it. And fast forward to October of 2006 and a good friend of mine was like, Hey Jay2, I found this, uh, this duplex. He's like, I need it. I'll buy one side and you need to buy the other side. And I wish I had positioned myself. I had changed my mindset about money. Financial literacy and started learning.
08:06 - 09:31
So you don't know on the residential side, my first deal, we did our first fix and flip
in Alexandria, Virginia, back in 2015 for me, I was kinda mid career, um, in the air
force and, uh, was negotiating large contracts, doing a lot of things that are high level.
Um, and you know, for me, it was like, okay, we negotiated,
uh, you know, over 200 bill uh $200 million contract. And you save the government over $10 million, but you don't get a bonus. In the military, we don't get bonus checks and things.
So I was like, man, I need to take this skillset and put, build and build a business around real estate. I'm working with contractors. Um, I'm leading complex projects and it's like, okay, I
can do the same thing with, uh, with real estate here.
So we took a bet on ourselves. We found a bank of America foreclosed. We went through on an auction site, we won the bid, we got it. And we went to work and it was a learning process. But for me, I knew I didn't have time. I had a day job.
So I had to hire a lead GC and, uh, and I had somebody that was really knowledgeable. And so after I got multiple bids and everything, I aligned myself with the right person. She was willing to show me because she was formerly an architect. She's willing to show me how to, how to do everything. We've had to go through how to build a kitchen. You know, how to do the framing that we need to do. We had to do mold remediation. We had to do, um, a pool remodel, all on the first project.
And today is still one of the most extensive projects that we've done to date.
26:14 - 27:04
No, I think number one is take action. The best time to buy real estate was yesterday. It is sometime in the past. So you got to take action. You can't procrastinate.
Um, and really look at how can you align yourself with the right people that have what it is,
or they are in a place where you want to go align with those people, get in the room with those
people, whether it's mentorship, whether it's networking as seminars, where there's a local. But get in a room with people that are doing whatever it is that you want to do. Um, if real estate investing is important that you, you gotta make it a priority.
Is it Wealth creation for you and your family is important and you gotta make it a priority. So put it on your schedule and figure out what it is, those, those rooms that you need to
get into those conversations, um, to do that, cause I'll tell you, joining a mastermind group. The last couple of years, that just changed my net worth and my trajectory.
Author, Owner, and investor
Johnny Lynum is active duty in the United States Air Force Lieutenant Colonel, seasoned real estate investor, entrepreneur, and coach. Johnny started his real estate investing career in 2006 and has extensive experience in project management, operations, marketing, and negotiations. Over the last six years, Johnny has purchased and sold over two dozen single-family properties and one apartment across four different markets. Currently, he has a real estate portfolio valued at over $4.7M. Johnny holds a Master's Degree in Business Administration from TUI University, a Bachelor's degree in Electrical Engineering from The University of Alabama, and Financial Planning and Services Certification from Northwestern University. Johnny’s first book, “Millionaire Real Estate Success Strategies: What They Forgot To Teach You In School'' is slated for publishing in Dec 2021.