The Forced Equity Strategy & Why You Need a Mentor
When Stacy Kellams was only seventeen he clearly articulated the path he intended to take in life. After watching his grandfather get “down-sized” after twenty-nine years with no pension or severance made a lasting impression. Nearing his sixties, and depending on his pension for retirement, his grandfather was devastated.
It was at that moment Stacy determined NEVER to have a job and NEVER give anyone that much power over his life. This fueled an already strong entrepreneurial spirit, and it was a matter of weeks before he and his best friend Levi started a “peep-hole” installation business.
Stacy Kellams struggled with the notion of “going to college” and “getting a job” so he dropped out several times to start businesses. He ultimately realized that whether or not he “got a job,” he did need business education to succeed as an entrepreneur.
With a degree in finance from Texas Tech University, Stacy plunged into the chaotic and lucrative environment of high finance where he became an investment adviser (RIA). “Wall Street is like craps, you win big, and you lose big,” said Stacy. And he did. Growing tired of the wild ride the stock market, Stacy shifted gears.
With his grandfather’s words whispering in his ear, “Son, they ain’t makin’ any more land so you might should get you some,” Stacy refocused his attention back to the one investment he’d never lost money in: Real estate.
After putting his first property under contract at just twenty-five, Stacy never lost his enthusiasm for real estate. After ten years, he decided he wanted to give back. Knowing there was no way he could repay those who’d mentored him, he positioned himself as a mentor to others. Here, he shares why you need a mentor if you hope to be successful in business.
Launching a real estate education business was the best method by which he could lend his experience and education to the most people possible. Using the internet allows him to leverage his time, so he can spend the maximum amount of time with his wife, Hilary and their three children.
“Nothing is more important to me than my family. Being an internet marketer and real estate educator affords me the opportunity to work from anywhere in the world with an internet connection.”
Being mobile helps Stacy and his wife run their health and wellness business as independent distributors of Kyani, a product they stumbled upon seeking a treatment for their daughter’s chronic inflammation due to Celiac Disease.
“People everywhere are hurting, whether it’s physically, emotionally, academically or financially,” Stacy remarks.
“Kyani, a liquid and bioavailable source of the most powerful anti-oxidants on the planet as well as the highest quality Omega-3 fatty acids on earth. It started as a way to deal with our daughter’s pain and lead to the entire family taking Kyani for various reasons. I’m ADD, my daughter, and youngest son are ADD, my wife suffers from anxiety. Within weeks, all of our symptoms abated, and our quality of life has been enhanced immeasurably. What started as a homeopathic remedy for pain turned into a lucrative income stream.”
Stacy and his family spend their summers and many school breaks at their lake house in Northern Michigan. The Kellams’ strive to provide their children with experiences over possessions. “You can’t put a price on memories.”
What you’ll learn about in this episode:
- Stacy’s background and how he got into real estate
- How Stacy got into entrepreneurship through selling front door peep holes
- Forced Appreciation Profits: looking at a property for what it can be rather than what it currently is
- The finances of the deals Stacy typically does
- Why you need to focus on the hottest areas
- Why you should work with the same designer on these projects (assuming they are good)
- Why you need a mentor to work with