On this week’s episode of The Art of Passive Income, Mark and Scott welcome the Owner and CEO of Blackjack Real Estate LLC Bill Allen to the show.
Bill Allen is the owner and CEO of Blackjack Real Estate LLC, the CEO, and owner of 7 Figure Flipping, a real estate investor, a former Navy pilot, a husband, and a father of three boys. He operates from Nashville, Tennessee, and has amassed a large following of like-minded people who are either seasoned in the real estate industry or are new and need some guidance to reach their goals within a set time frame.
As an entrepreneur at heart, Bill made his first move as a businessman, selling candies when he was only in middle school. An action that got him in trouble with the rules, but never dampened his love for owning and operating his own business. Pausing his business ventures, he went on to serve his country for 18 years as a Navy pilot, but his love for business would see him venturing into real estate after completing active duty and transferring to the Reserves. The introduction to real estate was a bitter-sweet experience for Bill who started by buying and renting a few houses, in the hopes that he could achieve financial freedom and plan early retirement.
At first, his sole focus was on buying rental properties in Pensacola, Florida; however, the 20% bank loan interest rates and recurrent costs of property management forced him to rethink his strategy when he acquired his tenth house and saw that the profit wasn’t adding up to what he had in mind. Going back to the drawing board, in 2014 he sold one of the properties he’d initially purchased to rent out and made a surprising $43,000. That’s when the idea of flipping houses struck him and he decided to diversify his investment portfolio. Only a year later, in 2015, Blackjack Real Estate LLC was created; a wholesale company that finds and assigns contracts to house flippers and landlords.
Today, Bill has gotten his business to the point where he works less than 5 hours a week and enjoys more time with his friends and family, while still making the income he wants and discovering new ways to expand his income and mentor those who reach out to him.
Listen in as they discuss:
- Bill’s journey into real estate and how his experiences have shaped his current way of living.
- How to get your business to a point where it works for you.
- The processes of delegating tasks that are important but don’t generate the highest ROI.
- How to scale the mental hurdles of delegating to new hires.
- Documenting and delegating tasks in your business.
- The level of work it takes, in the beginning, to train someone to the point where you are comfortable with allowing them to manage aspects of your business.
- The importance of hiring empowered and skilled people.
Find the right people that are the experts at Marketing, that are the experts at Sales, who empower themselves just as much as you empower them.Bill Allen
TIP OF THE WEEK
Mark: My tip of the week could be a life-changing, learn more about Bill Allen, and go to blackjackre.com.
Scott: Do something completely different. Arrange all your friends and family and get them all together with a Zoom party. Go to this website goparagon.co, and hire an entertainer, comedian, chef, or whoever to join your Zoom Call. You can hire a comedian for an hour for $150.
Bill: My tip is a book that pretty much changed the way I look at my company and even my personal life, I have this guy at my event last year that spoke to everybody in October and his name is Jocko Willink and Leif Babin wrote a book called Extreme Ownership. That book really changes the way I look at things, simplified a lot of the things that we do, and was able to allow me to delegate a lot better.
Isn’t it time to create passive income so you can work where you want, when you want, and with whomever you want?