In this series we will be highlighting burgeoning entrepreneurs in the modern era. These are folks who have taken the risk of quitting their conventional jobs in pursuit of their passions. This is a difficult road that many never find the courage to venture upon, but the rewards are so worth it, and as you know, no risk, no reward, know risk, know reward.
This episode highlights Damon Bodine, who after growing weary of the music industry, decided to make a career switch that paid off big time. Avid reader and a firm believer in the fruits of handwork, Damon started out door to door, hand to hand, building a reputation for himself, and now he's touching some of the most prime deals New York City has to offer. Hear how he spends his time, what motivates him, and where his hustle will take him next.
Tell Me A Little About What You Do and How You Got Into It?
I am a real estate agent working in NYC. Most of my work involves representing sellers and buyers of residential property in Brooklyn. My day to day is a lot of phone calls, appointments, negotiating, and ultimately taking real estate transactions from start to finish. I wake up around 6am and work until 7 or 8pmpretty much every day Monday -Friday and Sundays. I got into the business after a couple years of seriously weighing options on what career path to take after my time in the music industry.
Do You Remember Your First day? What Were You Feeling?
I remember getting my license being a feeling of liberation. I've always found myself attracted to commission sales because the sky is the limit. Of course there were nerves because I was changing careers but ultimately I found myself to be relatively confident throughout the whole processes. Right away I felt like this was something I was supposed to be doing.
What Were You Doing Before?
Before real estate I was involved in the music industry in a number of different positions. I was a concert promoter, artist manager. I had gigs as a tour manager , A&R , and booking agent along the way.
What Made You Want to Try Something New?
To be honest it just felt like it was time. After over a decade in music it wasn't giving me the same feeling it did in my early 20's. I've always told my friends and peers to not get stuck doing something that they weren't passionate abut. I ended up feeling my time had run its course.
How Do You Balance Your Time?
I think work/life balance is one of those things that doesn't always exist as an entrepreneur. My field is extremely competitive. I can't recall the exact numbers but something like 90%+ real estate leave the business within 2 years. So I've always kind of treated my businesses like they're a fundamental part of life. That said I also work hard to have fun with work.
Tell Me About Your Business
Real Estate can be incredibly challenging mentally. For me I'm often dealing with a persons most valuable asset (seller) and/or representing a buyer who is likely making the most important purchase decision of their life. Emotions are high and its very important that I work hard to be a problem solver, a good listener, and am always dedicated to improving the customer service experience.
How Much Time Do You Spend a Week Dedicated to Your Work?
On a normal I work 60-70 hours . Some weeks are more some are less. It really depends on what my customers require and how efficient I can be at delivering it to them. There is a very common misconception that real estate do very little work for their earnings. While that is true in some cases the people who last in this field take customer service extreme serious. My clients may call me at 6am or 11pm. I have to be there for them.
What Else Do You Like to Do With Your Free Time?
A lot of things. Go to the park , catch up with friends, spend time with fiance. I'm a pretty avid reader so I find myself reading probably 3-4 books a month. Free time is sort of challenging in my field.. I am often called upon to solve problems at very inconvenient times. So i don't know I guess i'll take more time off in the next lifetime.
Whats Next For You?
I'm always trying to build my real estate team further out. So by all means if you know anyone looking for a career change have them reach out. I have dreams of achieving 100% financial freedom and traveling more. This year i'm getting married and we are hoping to buy a new property within the next 12 months.
Any Advice for People Wanting to Follow a Similar Path?
Do it for the right reasons , research what you're getting into , and be ready to commit more of your time to your craft than you expect. The real estate industry can be constant highs and lows. Deals fall through constantly. You have to be very resilient and know how to get up once you've been pushed to the ground. Most importantly you have to believe in yourself and believe in your ability to create opportunities. You will not get handed much in real estate except a desk and a phone. So be ready to get creative and find your lane.
"I aim to deliver the absolute best service any time, day or night. I am always reachable to answer questions, and will work as hard as it takes to get a deal done, ensuring that all parties in a transaction are treated fairly."
You can reach Damon at DamonBodine.com
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.