Next Level Chat: Abigail’s Story
“The beauty of real estate is that it is difficult. It is tough. It is very stressful, but it can provide you with a lifestyle. A lifestyle that very few other jobs really can give you, a ton of freedom.”
During this holiday season, Next Level American Dream will be doing something a little different. Today Abigail and Sean are going to talk about their why and purpose in this business and then Sean will discuss his success formula. These chats with the hosts will allow you to get to know them a little bit better and have a better understanding of their business. If you have any questions for use please comment on our Youtube, social media, or reach out to us through our website. To make sure you don't miss the next chat, make sure you subscribe to the show and leave a review so they can continue to make episodes for you to enjoy.
Key Topics
When did you realize you wanted to take a more entrepreneurial approach to your future?
Do you think growing up around real estate and seeing how it works helped guide you in that direction?
What is it about being a real estate investor most appeals to you?
How do you think college will help you?
How did college prepare or not prepare you for this business?
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Abigail: [00:00:00] Welcome to the next level. American dream podcast brought to you by Thomson multifamily group. Your hosts, Abigail, and Sean will discuss how you can take your American dream to the next level. The real estate investing business practices and personal development. Join us as we share our experiences as a father, daughter duo, who are trying to accomplish their goal of financial freedom, we hope you learn more about how to define and achieve your American dream.
Here's another episode of next level American dream.
Sean: [00:00:34] Hi, everybody. Welcome to next total American dream podcast. Today. We're going to talk a little bit, between the Abby and I about our business and, ourselves. And so just help, maybe you guys know this a little bit better. Today we're actually going to talk to Abby about, her path in real estate investing and how she kind of got to where she is now and where she's hoping to go down the road.
So, let's talk about. I guess when did you realize first that you wanted to sort of take an entrepreneurial path as opposed to going to [00:01:00] work for somebody else?
Abigail: [00:01:02] Yeah. So that's a really good question. I kind of grew up around you all the time and you wanting to go into real estate ever since I think I was about 12.
but I always had a little bit of an entrepreneurial spirit. I always heard from you that there are three ways to gain the lifestyle that you want that's in, but inventing something and starting a business, real estate. And then the last one is just like traditional high paying jobs, like lawyers, doctors, business executives, things like that.
So throughout my life, I've kind of hit all three and landed on real estate. in fact, I was just cleaning out my closet here and found my business plan for Abbey lane purses, which was a business that I started. And I think eight making,
Sean: [00:01:51] you were tiny
Abigail: [00:01:52] making handbags for my friends and I made this whole business plan for a store and all this stuff.
So I think that's really [00:02:00] kind of where it started and it's taken off from there.
Sean: [00:02:03] So you've always kind of, I guess we've always kind of worked on creative ways for you to look at earning money and things through her whole life, huh?
Abigail: [00:02:12] Yeah, absolutely. And, and in high school I was kind of conditioned to where, where I was going to school to like really figure out what you wanted to do with your life.
So that when you got into college, you knew what your degree plan was going to be. And so throughout high school, I was always thinking about what I wanted to do, what I would be good at. And. Going through a bunch of different things. And I even took a program that helps me figure that out. and now I'm here.
Sean: [00:02:42] So you did go, you went to a college prep high school. So the focus was kind of being prepared for college and in all the, in all the different, aspects of that kind of required. And so that was part of it. So when did you kind of know, That real estate was the path you wanted to take, I guess, cause I'm in real estate.
So it was kind [00:03:00] of an organic thing, I think. But, when did you kind of say, okay, that I think that's what, what I want to do.
Abigail: [00:03:05] Well, Like I said, in high school, I was going through all of those, trying to figure out what I wanted to do. And one of the only things that I knew I didn't want was real estate. Cause I saw what use it on a day-to-day basis.
And I said, no, Not a fan of that. I don't like it. it does not seem like something I would be good at. It doesn't seem like something I would enjoy. but in, when I went into college, my first semester I took a business law class and I loved it. And I was like, maybe I want to be a lawyer. And I also loved economics.
So I was like, I'll have a law degree. I'll have a economics or finance degree as my undergraduate, I'll be a business powerhouse was kind of my thinking. And then I went into researching law school and talking to lawyers and things like that and getting a bit better perspective of what that would look like for my life and realized [00:04:00] I didn't enjoy school enough for me to pursue that path.
But I also really wanted still one of those, those three business ideas that would give me the lifestyle I wanted. And at the time I really wanted to go travel and for an extended period of time, And so I was like, how do I do that? I don't want to get a job overseas. I want to be able to just kind of go somewhere for a week and then pick up and go somewhere else.
really backpacking around the world. And that was right around the same time that you came to visit me. And we went to dinner and I was like, how do I do this? And you go. Passive income. And I was like, Oh gosh, no, I realized I did, I don't want to do this, but it's what I wanted. it got me to where I wanted at least.
And so I started looking into it more and realizing [00:05:00] that it actually might've been a really good path for me. and then shortly after that, you wanted to transition your business into multi-family. We went to an educational program. Corey Peterson's. and the rest is history.
Sean: [00:05:15] Yeah. So we originally, I guess we originally worked out a strategy for you to, generate that passive income through single family rental properties.
Yeah. And as, as our conversations kind of continued about what you were going to do, my business was also kind of in a transition point where I was, I was trying to get out of single-family and into multi-family.
Abigail: [00:05:34] Right.
Sean: [00:05:34] You know, in my mind, at least that's where I was headed. Yeah. And taking steps to sort of make that happen.
And then, on our conversations together that it just became, you know, why don't we team up and become, you know, do more multi-family
Abigail: [00:05:48] it came, it became really natural that we would just partner up together and learn this new business alongside each other so that when I do graduate, which [00:06:00] is very soon.
I can become full part or full-time in this business and then eventually take it over.
Sean: [00:06:08] Right. So, what was it about the real estate initially that you didn't like? You just saw the, the effort and work and stress that I put in.
Abigail: [00:06:15] I saw all the direct mail. I saw the hoarder houses. I saw the fleece story I saw.
All these just like cold calling and talking to these people that I was just like, no, that just seems so unappealing to me, but I loved the idea that real estate could give me passive income and time and freedom. And it was my own business. I really, really liked that. But I hated the cold calls. I did cold calls for one summer and I said, absolutely not.
Never. Again, this is not my future.
Sean: [00:06:55] Yeah. It's a tough, it's a tough week, definitely to go the, Yeah, the single family businesses [00:07:00] is a difficult one in a lot of things. A lot of people don't realize that. And once they get to when they get started and once they get into it, there, they have a reaction like yours.
I think a lot of times,
Abigail: [00:07:08] absolutely.
Sean: [00:07:09] But real estate, the beauty of real estate is that it is difficult. It is tough. It is very stressful, but it can provide you with a lifestyle. That, no other job really can't or, well, I'm sure there is other jobs, but it's a, it gives you a ton of freedom.
Abigail: [00:07:22] It's very unique,
Sean: [00:07:23] yeah. You can come and go as you please. And things like that. And I think that's kind of what you're looking for is control over your own life, right?
Abigail: [00:07:29] Absolutely. Yeah. Especially going into, now that I'm doing it while I'm a student, it's really nice. Cause I can make my own hours. I, I work when I can. And then looking way ahead in the future, 10, 15 years, I want to start building a family, but I also really wanted to be a successful person in my career, but a really good family woman.
I kind of wanted to have it all and looking at this [00:08:00] business, it gives me that, and it's really nice. And so, yeah,
Sean: [00:08:04] and multi-family, doesn't have quite the same. I guess, I don't know, negative.
Abigail: [00:08:08] Yeah.
Sean: [00:08:09] Tasks or something like that, that, that single family does. So multifamily may be a little, it's a little bit easier transition for you. I think.
Abigail: [00:08:15] Yeah. It's, it's, there's, there's less hands on dirty work, if that makes sense,
Sean: [00:08:23] I guess so. Yeah. It, unless you kind of know the business, I don't know that that would make sense to someone listening, but,
Abigail: [00:08:29] yeah, unless you know, the process, it doesn't really, it's not quite
Sean: [00:08:33] Unless you walked into a hoarder house. and been through that whole system, you may not understand what she's talking about, but, yeah, it is, some of the single family properties that we buy, can be pretty, pretty, pretty, pretty bad,
Abigail: [00:08:46] pretty Epic.
Sean: [00:08:47] Right. Exactly.
Abigail: [00:08:48] And then kind of nasty.
Sean: [00:08:50] Well, so what are you, you're, you're just kinda getting started.
You're right now. You're still in school actually. You're, you're finishing up your finance degree. and what do you, what do you think, [00:09:00] College you'd be, you know, you've been in college. What do you think college is doing to pursue or prepare you for or your work and stuff that you're going to do now?
Is it, are you getting quite a lot out of it or
Abigail: [00:09:09] that's a good question. well, one of the first things that college taught me was, or I should say two, there's really two things that college taught me right off the bat. Actually, I'm gonna add one there. One is that I definitively did not want to work in corporate.
I. Realized that my entire college career now being a second semester senior has been about just grooming people and conditioning people to be corporate employees. And I realized that I hated that even more so than the hoarder houses, and that was not the path for me and just who I am. The second one is that networking and connections are extremely [00:10:00] important.
And just everything in life that can really help with, especially being an entrepreneur can really help you grow. And then the third one was perspective. I learned, I kind of grew up in a suburban area. I went to private school, my whole life, and I. I knew cultures and I knew all of this stuff, but I never really saw it firsthand.
And I never really saw just different ways of life. And so I got the opportunity to see different people, see different cultures and experience them. And that was really, really cool. But when it came to my actual education, now that I'm in the, the world that I want to be in and in this real estate industry, I don't really feel like it's prepared me a ton for what I'm actually doing.
cause I tailored my degree. I'm I have a finance degree with a real estate specialty and a [00:11:00] minor in marketing, and going through my real estate courses, they don't really, the professors are not real estate investors. They are corporate real estate people or realtors or appraisers they're specialty people.
and so they, they don't really know how to relate those facets or avenues of real estate to investing. And so I had to seek that knowledge and kind of take what I learned in the classes and rework it to see how it would fit into my career. And that's something that I felt like I was lacking in all of my classes is that it was so focused, like I said, a second ago.
So focused on being an employee for somebody else that. I struggled to get a lot of value out of my [00:12:00] courses. but I still learn a ton. I'm still able to apply some of it to what we're doing. I just don't feel like since it's not a direct, this is how you can do this as an entrepreneur. I just never felt like, Oh yeah, that's great information.
And I've found that in other educational programs, thankfully real estate has a lot of, ways to learn more about how you can apply all of what I've been doing in college to your real estate entrepreneur career. And that's been really nice, but college specifically, it's nice to have that piece of paper have that credential have that degree.
And I've learned a lot of life skills. Throughout my college career. I just am not entirely sure that I've learned a ton when it comes to specifically what I'm doing now, if that makes any sense, really
Sean: [00:12:59] college has given [00:13:00] you quite a lot of information to help you with your job, but it really hasn't trained you to do this specific job there.
So I guess there's really no real estate investor college degree, right?
Abigail: [00:13:09] No, not at all.
Sean: [00:13:10] Yeah. So if you were going to be a CPA for a corporation, they have a path for that, you know, or if you wanted to do scientific resources, something like that, they have a path for that. And what you're sort of taking on, is, is a unique thing.
And I don't think that the college really has a path that they put you on for becoming a, you know, a single family or multi-family, or, you know, a real estate investor in general. They do have commercial real estate, careers and things like that. But, It's not quite the same. Right? So like you said, appraisers and real estate brokers and people that teach those classes, they, they understand real estate from that perspective.
But, I think, and most of them know what real estate investing is. but, unless you're in it, I guess it's, it gives you, it's a real unique sort of segment of industry, right?
Abigail: [00:13:55] Yeah, absolutely.
Sean: [00:13:56] Okay. Well, let's talk about, what's next for you, right? So, [00:14:00] you're just about to finish school. You got one more semester, almost done. that's going really well. you've you've been working with me in this, you know, our startup of, Thomson multi-family group doing, hanging all the marketing.
The podcast is all yours. You're doing. so what do you think, what do you think is going to happen once you're leaving school and kind of transitioning out? What do you see for the future?
Abigail: [00:14:21] Yeah. So I finally get to do my job full time, which I'm extremely excited about juggling all of this can be really difficult.
but it's worth it. I'm, I'm happy with what I do. but yeah, I'm get to start full time. And I kind of, I am really excited to be able to go anywhere. I've been, I lived in Texas, my whole life. I go to school in Arkansas now, and now the world is kind of my oyster. I guess I get to experience new places.
I'm hoping to move somewhere that I've never lived before. and then with the business, I hope to just continue with what we're [00:15:00] doing, continue growing. and ideally. In a few years, maybe five to 10, I get to take over and this will be mine
Sean: [00:15:10] Take it to the next level.
Abigail: [00:15:11] Yeah. Yeah. Keep going and keep growing and yeah, just keep building the business into something really successful and amazing.
Sean: [00:15:21] Okay. Good. All right. Well, let's, that's probably enough for today, right?
Abigail: [00:15:25] Yeah. Okay. Everyone got to know me a little bit better.
Sean: [00:15:28] Yeah. Well, that's Abbie everybody. That's my daughter. She's my partner in the business. And, and we really hope you got to know her a little bit better. And, we'll talk to you soon.
Thanks again for joining us. Bye.
Abigail: [00:15:39] Thanks for joining us for another episode of next level American dream. If you would like to learn more about what we talked about today. Want to contact the team directly or interested in passively investing and being a part of our deal room. Head over to our website at www.Thomsonmultifamilygroup.com.
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