Repeatable

The FHA 203k program still exists: a government-insured loan that finances purchase and renovation with as little as 3.5% down, for owner-occupants. Distressed houses still trade below fixed-up value. The discipline of no consumer debt, no margin and no second mortgage costs nothing. Those three things are the whole of his first deal, and the company still does the first two at scale. 1

Also repeatable, and cheaper than a house

The licenses. Agent at 18, broker at 20, lender, contractor, a drone license in 2016 so he could shoot his own listings, then the securities exams and, at 32, a pilot’s license. Each one let him do something for a client that he had been paying someone else to do, or could not do at all. None required capital. 3

The hours. 5 a.m. to 6 p.m., every day, by his own schedule. In 2015 he did every part of his own business himself, down to staking the signs.

The camera. The first videos went up in 2011 to a handful of clients, and the channel did not become a job for seven years. Making them before anyone watched is the part people skip.

Being wrong out loud. The videos titled i was wrong are on the channel. A record you can be judged by is something you build on purpose, and it costs nothing but pride.

Hard to repeat

A real estate license is easy to get; earning $500,000 a year on it by 25 without a team is not. A client willing to lend you renovation money against your house is a relationship, not a strategy.

Not repeatable

The channel. From 2018 it paid more than real estate, and from 2020 it paid millions. That income bought houses faster than any renovation loan could. It also bought the aircraft, the ETF launch and the company’s early capital.

His own version of this page

Kevin’s account

With the rise of ultra-cheap market index ETFs, I now encourage people to consider QQQM and SPYM first, and to take concentrated positions only when they are diversified against other assets. 2