Peter Lohmann describes his first year building a business: helping others and investing with no return, a skeptical partner asking when he'd start winning, then suddenly demand outpacing what he could handle. He hit 1,000 units under management before doing any marketing.
It took about a year for this flywheel to start spinning of business. It took about a year of investing this, of trying to help other people. In fact, back in the day, I had a business partner. I remember very vaguely, I walked in the office and I was so happy and I said, hey, I met a mortgage lender last week. He's well known. He's been in the industry for decades. He knows tons of investors. I just helped him get a $4 million loan. And my business partner looked at me and was like, when is Pete going to start winning? When is that going to start coming to Pete? Because this is about 8 or 9 months in of me just relentlessly trying to help other people. And just solve their problems, not even focused on me. And I said, it's coming, I can feel it. It'll be a couple more months. And then about 2 months after that, it was just way more than we could handle. We did no marketing until we were above 1,000 units under management.
