Mario earned $1.25 million in gross commission in 2024 and bought a commercial building he'd wanted for a decade. He negotiated a minimal down payment, used ChatGPT to find brokers, and turned $4,000 monthly rental income into $13,000 through a cost-segregation study.
The, the note that I wrote down was, uh, in 2024 you achieved $1.25 million in gross commission income. And, and the note was, I was able to accomplish a 10-year goal in 1 year.
Correct.
What is— what—
before I didn't have a big picture, and Illum, you had at the time, yes, has all finances Yes. And you know, the why.
Yes.
The cash flow. Yes. The properties. Yes. And I wrote down, I want to buy a commercial building to set up my business. Yeah. I don't want to pay other people to have my— my— of course. Yes. And that's very Italian. Yeah.
I want to collect the rent, not pay the rent. I don't want to pay the rent. Yeah. I want to collect the rent.
Yeah. And then I wrote, I wanted to buy this commercial building. I wanted to save this much after taxes. Houses. Yeah, I think it was like half a million dollars, and I wanted to buy a building, and I wanted to buy another property on top of it. Yes, in 10 years. I was like, okay, probably I make 10 years, and I want to have my first million dollar year. And then I look, I look back on my goal on 2025 in the beginning.
Yeah, I did it all.
Yeah, I did it all. And then I remember I was driving home with my CPA after the soccer game.
Of course, you can call it football, we're amongst friends.
Football. And then he told me, I need an office. And that's when it clicked, because I looked and there was a for sale sign for a commercial building on a very busy road. And then I told him, if I buy office, will you rent part of it from me? And he was like, sure, Mario, I love you. Because I'm bugging him all the time. Because you also trained me on something pretty cool. You said before you make a big purchase, you need to have partners. Yeah. And I have a financial advisor, a mortgage broker, a CPA. What's the tax implication? Yeah, I didn't know all of these thanks to your podcast. Cost segregation study. Cost segregation study.
Yes, you got almost all your money back. If you don't know what a cost segregation study is and you're watching this show, you need to Google, go to Perplexity, cost segregation study. That's what he's talking about.
And then I did the cost segregation study, and actually, I mean, if I tell you the whole story, it's pretty insane the way I negotiated, because I went to ChatGPT and said, which broker doesn't have an office in this location and this location? So I lock in the office in escrow, and then I went to them and I said, by the way, You got it. Like, it was a pretty cool hardcore negotiation. I ended up with buying that office with very little down. I got the cost segregation study, and now when I bought it, generated $4,000 a month. Now it generates $13,000 a month, pays itself, and I work there. So I go to work and I'm collecting the money, and it's a pretty cool— I have 13 offices upstairs, I have 1,000 square feet for me, I have an apartment, and I have a salon next to it. So it's a very, it's a very busy road.
Congratulations.
