20 | The Hernandez Family | From Shoe Repair to Real Estate Empire
In today's episode of the Cashflow for Life podcast, Andrew is joined by the Hernandez family as they share their inspirational journey from modest beginnings to achieving substantial financial success through real estate. The family's patriarch, Waldo Hernandez, and his wife, Brandy, recount their initial foray into entrepreneurship with a shoe repair business, despite having no prior experience in the trade. Their narrative progresses to describe their early challenges and setbacks in real estate, particularly during the 2008 recession, which resulted in the loss of properties. However, these setbacks only fueled their determination to learn and grow within the industry.The family's turning point came when they decided to join a mastery group in November 2018, which provided them with the knowledge and resources to scale their real estate endeavors significantly. By February and March of the following year, they had three properties under contract, marking the beginning of their rapid growth in the field. Brandy and Waldo explain the strategic shift in their investment approach, from attempting flips and managing a few rentals to accumulating a considerable monthly cash flow and diversifying their investments, including buying a 47-acre farm. Their story is a testament to the power of education, hard work, and perseverance in the realm of real estate investing.Adding a fresh perspective to the podcast, Hernandez's daughter, Jocelyn, shares her experience growing up in an environment where real estate and hard work were a part of daily life. From a young age, Jocelyn was involved in the family business, learning the ropes of real estate investment firsthand. Her ambitions led her to pursue a master's in architecture while actively participating in the family's real estate business, conducting her own flips, and handling rentals. The episode emphasizes the importance of knowledge, hard work, and family support in overcoming obstacles and achieving the American dream, serving as an inspiration to immigrants and young entrepreneurs alike.Listen now and enjoy!What You Will Learn In This Show:How the Hernandez family moved from owning a humble shoe repair business to creating a significant cash flow through real estate.How joining a mastery group in November 2018 was a pivotal moment for the Hernandez family, enabling them to secure three properties under contract by early 2019 and significantly scale their investments.The Hernandez family's approach to flipping houses and accumulating properties to generate a substantial monthly cash flow, along with diversifying their portfolio by investing in a 47-acre farm.How the 2008 recession affected the Hernandez family's real estate ventures, leading to the loss of properties.The significance of trust, cooperation, and shared goals within the Hernandez family, contributing to their collective success in real estate investment.Jocelyn's experience growing up in a real estate-focused family, her early involvement in the business, and how this unique upbringing shaped her career aspirations and success in the industry.The importance of hard work, community support, and education in empowering individuals and families, particularly in the Hispanic community.And much more...
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