Tim Murphy shares the story of when and who turned him on to real estate investing.
He was young, hungry, and willing to get his hands dirty when Uncle Jack opened Murph's eyes to the world of real estate investing.
Full transcript:
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It all started when my uncle Jack came to my parents' house, when I was broke in my parents' basement, trying to figure out, well, what am I going to do with my life? And I had come to the conclusion that real estate is something that I was really excited about. I had read the book retire, young retire, rich by Robert Kiyosaki.
And all of a sudden my uncle came in one day. Didn't even know he was coming to the house and he was working on these big sliding glass doors down in my basement where my bedroom was and also where my table and chair was that I called the desk as I was working in my parents' basement to try to figure out my life.
And he was working on this door and I was doing my thing when it came to real estate and what I was going to do in the future. And my uncle's like, Hey, so what are you doing? I'm like, well, I just graduated from college.
Tried to get a job. It didn't work out so great. I got this little job over here, this cube job. And today I got the day off. And so I'm focused on my future and he goes, well, what's your future going to be? And I said, well,
I think my future is going to be real estate. And it was right then when he said, Oh, you're want to get in real estate. But I thought you had a computer programming degree. And I was like, yep, you're right. Okay. I do have a computer programming degree. Thanks for reminding me. Cause everybody seems to be reminding you of that, but I've decided that real estate and investing is the way that I can live life on my terms.
And I can build a business and be that entrepreneur spirit, entrepreneurial spirit that I was. And he was really excited about that. And so Jack and I started talking about real estate and he still started talking to me about the different things that he's done with real estate and how it's helped him increase his net worth.
How it's helped him you know, learn about real estate because he's built multiple different properties. And it was funny because as we started talking about it, now, my uncle you have to understand is he has added,
I mean, he will admit it. Everybody knows it loves the guy, but he can go seven different directions all at once. So in the middle of this conversation about him telling me how real estate's benefited him, he goes,
Oh wait, let me tell you something Murph. I said, what's that? He goes, I have a house that I'm building. It's an $800,000 house I'm building over in Lakeville, sorta like, Oh really? Uncle that's. Cool. So you got a general contractor or builder you're working with. He goes, no, and this is classic.
My uncle Jack, no, I'm going to build it myself.
I said, well, how did you learn how to build a house?
Oh, well, well the cabin before, and I'd built another house when I was younger. So I've done this before.
I'm like, you've built homes before on your own, as the general contractor. And also as the labor or tradesman, that's doing work to the house. And he said, yeah, of course. Why wouldn't you do it like that now?
Right there, that alone, Jack, my uncle, why wouldn't you do it? This is the best part about my uncle. The best part about him as he became a mentor to me, because what I decided to do was I said, Hey, UNC, well, do you need any help building that house over in Lakefield that you're working on right now? He said, you know, I actually would love some help because it's a lot of work doing it by myself. And I said, well, what do you pay a kid?
If he decides to help you out? Cause I am your nephew. You know, you got to take care of me. And it was funny because he goes, you know what? I'll pay you 10 bucks an hour. I said, 10 bucks an hour. I got a college degree. I have an MIS college degree, 10 bucks an hour. You can do better than 10 bucks an hour. .
I laid wood floors. I laid, I built tile, tile, showers. I framed things I built moldings for posts like these intricate wood post, that, that he taught me how to make. I learned so much. I learned about roofing. I learned about windows. I learned about products. I learned about pricing. I learned so much at that time and I knew nothing.
And I sure as heck didn't know I was going to end up in this chair that I am today as a real estate developer, building multimillion-dollar houses. But I can tell you that having Jack, my uncle, as my mentor, opened my mind to so many different things and he allowed me to jump out of the plane.
Who has been the biggest inspiration in your life? Let me know below
