What do you do when life gives you lemons?
You’re probably tired of hearing that expression. It gets thrown around so often that the response almost comes out without thinking — “Make lemonade!” This tired old saying is usually used to indicate taking advantage of a situation or circumstances that life provides you with. If life offers you an unexpected gift, don’t just put it on the shelf — use it to make something!
Let’s say in a hypothetical scenario that you were unexpectedly let go from your job of several years. At first, you were distraught by this unexpected life change, grimacing at the thought of enduring interviews and applications for new employment. However, after thinking on it further, you decide to pursue your dream of sewing and start up a small clothing business to tide you over until you find a new job.
Not only do you find fulfillment in this new venture, but business is booming, and you can hardly keep up. Fast forward two years, and you have built a clothing empire that all started from you losing your job. This is an example of a scenario in which you found something good in the bad life handed you.
Today’s guest, Beau Borinstein, is a perfect example of someone who, despite being dealt a tragic and unfortunate hand in life, made the absolute most out of his circumstances and built an unshakeable foundation for himself and his future.
Beau’s Story
Beau is a 21-year-old Indianapolis native who grew up on the outskirts of the city, finding comfort in the quiet, small farm life he and his family lived. When he was only 15, he experienced unimaginable loss when his entire family, including both his parents and twin sister, tragically died in a plane crash, leaving him to live alone with his grandmother.
“So it’s been kind of a slow transition into, like, how do I deal with this stuff? I really started just throwing myself into learning. That’s almost how I was coping with {everything}, just wanting to constantly learn. I wanted to do really well for myself and just better myself in any way that I possibly could. So I went to college down in Auburn my freshman year. Just to kind of get away from everything and everyone. So this is the start of 2020.” – Beau Borinstein
In the same year, Beau managed to earn his real estate license, piquing his interest in the real estate game. The thought of paying for out-of-state tuition to continue his education at Auburn felt unnecessary at this point, so Beau opted to attend a closer school that would allow him to keep growing as a new real estate agent.
“So I’ve almost had {my real estate license} for two years now. I came back, I got my license, and thought, I don’t wanna pay for out-of-state tuition for online education. So I decided that I would go to IUPUI, which is a school here in Indianapolis. I was only doing it part-time since I was busy being an agent as well as learning the investment side of things. Eventually, I dropped out and kind of jumped into this full-time.” – Beau Borinstein
Let’s get honest here, college isn’t always for everyone. Sure, it is certainly an important stepping stone in life for many people, and it can open the door to all kinds of opportunities in your life. Sometimes, however, this is not the case. In some cases, such as Beau’s, it is simply not the right time.
Making Deals and Getting Started
After realizing he was not in the right space to finish his college education, Beau began to shift gears and focus entirely on real estate and the investment game. There was a lot to learn, however, but Beau was not going to slow down.
“I knew I wanted to go into the investment game, and I wanted to get there as quickly as possible. So I started a wholesaling company at the beginning of last year, 2022. What I did differently than what most people do is … what’s called reverse wholesaling — I went and found my buyer first, figured out what type of product they wanted, and then I would go and sell that to them. I’d figure out what their purchase price was, and then I would talk to the seller of the property.” – Beau Borinstein
Beau knew he would be able to handle running a wholesaling company, but there was a lot more to learn than he anticipated. As he began to learn more and more, he realized he could do the entire process himself if he had enough capital to work with, so that’s exactly what he did.
“As a wholesaler, you have to know the numbers the flipper’s going to make in order to make sure it’s worth their time to actually buy the property. So I got thinking, Why don’t I just do this myself? The only part that I’m missing here is the ability to raise capital. So I had a few different buyers, but I was thinking, Okay, well, they’ve got some money, and they probably know people that have some money. So the first deal I ever did was a wholesale sixplex, which was all tenant-occupied, which was kind of crazy.” – Beau Borinstein
This first deal that Beau made was not funded by a private money lender. Rather, it was a traditional hard money lender who funded Beau’s first deal. Regardless, Beau continued building that relationship with this lender who eventually helped him make connections and network with like-minded individuals who shared an interest in private money lending.
Discovering PMC
These early stages of networking with other lenders are what ultimately led Beau to PMC. He began doing roughly one deal per month over the course of 8 months, aided by his coach, Steve Lawson, who is actually a member at PMC. Steve is who introduced Beau to PMC and the world of private lending.
“Steve is the one that introduced me to PMC. From there, he’s helped me a lot — from connecting with individuals to showing me that there’s actually a much larger platform. I don’t have to waste all of my time finding funding. I can connect with more individuals on these platforms who already know what private money lending is because Chris has taught them. I don’t have to teach some random person all of those different steps. So it honestly makes my life a little bit easier just being able to come here.” – Beau Borinstein
It is truly amazing discovering the power of connecting with like-minded individuals. Since this discovery, Beau’s productivity has skyrocketed, and he is doing more deals than ever. In fact, things are moving so quickly for him that he had to hire a team to help him!
“I still use a lot of my other lenders, but right now, I’ve started growing a team pretty rapidly. I’ve got currently what sits at four virtual assistants and then one acquisition manager. I hired the acquisition manager at the beginning of January and have been slowly adding on virtual assistants. So this month, we’ve contracted five deals, and it looks like we’ll probably get closer to seven or eight by the end of the month. So I’m currently in need of raising capital.” – Beau Borinstein
The fact that Beau is so far ahead of anyone else his age is astounding. Many, many people don’t figure any of these things out until they are approaching retirement. Even then, to have such a well-rounded and complete understanding of how to pursue deals and investments is rare, even for veterans of real estate. Not only that, but Beau has an incredible support system in place to keep him on track and help him navigate anything he encounters.
The Benefits of Networking
It’s extremely obvious that Beau knows what he’s talking about when you’re speaking with him. Even though he’s only 21 years old, Beau has done the research, he has the experience he needs to successfully navigate the world of private money lending, and he has a support system to help guide him along. To be quite honest, a lender couldn’t ask for more. As he moves forward in his career, however, Beau is aware of a few things he will need to change to keep up his steady progression.
“I know I’m going to need more lenders. I want to partner with people, and I’m willing to pay a premium for that just because I want to get more and more deals done, so I will be hiring more people over this next month. I’m looking at probably hiring a full-time project manager at least by the beginning of April. So honestly, the one roadblock that I’m hitting right now is just lack of funding.” – Beau Borinstein
Beau not only recognizes the importance of finding a network of like-minded individuals who will support you and offer advice when you need it, but he also understands that he put in a ton of work to gain the knowledge he has. Not everyone is as ambitious as Beau and can dive headfirst into the world of real estate and private money lending and be successful at it. That’s why Private Money Club is here to help you get started.
Learn How Private Money Club Can Help You Achieve Your Financial Dreams
Beau’s circumstances may be unique, but that doesn’t mean we can’t learn lessons from his experience. If you’re curious about private money lending and want to learn how to seek out promising opportunities, negotiate contracts, and make things happen, you’re already in the right place. The Private Money Club (PMC) app has everything you need to know about private lending, finding time-efficient ways to learn about private money, and real effective networking opportunities. If you’re ready to turn your goals into a reality, join the club today by visiting the website.