Road To Rental Properties Ep. 1 The Introduction

Hi, my name is Tim shooker. I'm a 17 year old entrepreneur and business owner and welcome to my YouTube channel. I'm going to be starting a series where I document my journey to buy my first rental property before my 19th birthday, which is in September of 2020. Why invest in rental properties? Rental properties are the single best way to receive a monthly passive income, which could then compound over time allowing me to buy more rental properties, increasing the monthly income, which will ultimately lead me to my goal of becoming financially free. Putting a set number on how much I would need to save is a little bit difficult because there's a huge variance in the amount that houses sell for. My first property, however, will probably be around $120,000 just based off of the rate that most houses are selling for in my area. I also want to set aside an additional 30,000 just in case there's any renovations or anything that needs to be done. So this brings my total out to $150,000. Now how is a 17 year old going to save $150,000 in less than two years? That's a great question. So right now I currently own and operate a small landscaping business called Shookers Lawn Care. We provide weekly and bi weekly mowing for residents of Greensboro, North Carolina which is where I live, as well as some other smaller landscaping jobs such as gutter cleaning, leaf removal, hedge trimming, just some extra things like that. And we're always trying to grow and expand. So currently I mow about 23 yards per week. That's including weekly and bi weekly customers. And right now I'm profiting around 800 to $850 per week. And right now I'm still in school, so. So being in school seven hours a day, I only have about four hours after school to do mowing. So hopefully once school gets out, that number should be able to increase. My goal is to have that.

Be mowing about 50 yards a week, profiting around 2,000 to $2,500 per week. So unfortunately, mowing is only a spring and summer thing. So that $2,000 to $2,500 per week is only going to be available to me for about a third of the year. So realizing this, I'm going to need to supplement my income with some other businesses, some other revenue streams. I plan on starting a drop shipping business in the next couple days and documenting my process of doing all of that and then making some videos of it and also starting other businesses in the future. I'm not entirely sure what all I will do but really just excited to get started. So far in 2019, I've saved about $11,000. I track all of my expenses and all of my income on a spreadsheet that I'll show you guys flashing up. But most of my income was split between yard work and working as a waiter, where I work 20 hours per week for the first part of the year. I've since recently quit that job and I'm now going full time doing landscaping. So my original goal was to save 30k in one year in 2019, but obviously I want to ramp that up a little bit to reach 150k by September of 2020. So in order to do this, I'm definitely going to have to put in a whole lot more work than I have been doing, maybe grow my personal brand through this YouTube channel and see where that is able to take me. It's definitely going to be tough to save about five times of what I've been doing right now, but I think that by documenting this and making this series, I'll be able to hold myself to these goals better and hopefully it'll be very entertaining to watch. I'm super excited to begin documenting my road to rental properties, and I hope that along the way, maybe I can inspire some of you to purchase pursue some of your goals. So with that being said, I hope you enjoyed watching the pilot of this series and I hope to see you next time.