Throughout the past few years, inflation has been rising at an alarming rate; purchasing power has decreased by 90% since the 1950s. With each passing day, it’s becoming harder and harder for people to earn enough money for a decent life with a traditional nine-to-five job. But in the past few years, real estate investing became a booming industry.
According to Damon Woodward, that is nothing surprising. He thinks that the main reason for that is that a lot more people want to become real estate investors and have a better income. Damon himself went the same route years ago when he walked away from a six-figure salary and ventured into the world of real estate.
Since then, Damon became an incredibly successful investor; he became the CEO of Leadway Holdings Ltd. and Blackcard Elite Academy Ltd. (Blackcard University); he successfully runs two multi-million dollar companies.
When asked what contributed to his success, Damon says, “Developing skills and working with coaches and mentors is the only way to succeed in this game.” He adds, “I took a lot of the advice from my coach to heart and dropped everything and moved all the way across the country to learn new skills and to position myself around people that were very good at doing what I was aspiring to do, and the majority of people just simply aren’t prepared to make that type of sacrifice to achieve their goals.”
However, Damon says that the real estate industry shouldn’t only revolve around buying luxurious properties and flipping them for exorbitant prices; it should be much more than that. Damon points out that, through real estate investing, he found a way to contribute to society in a meaningful way. All of the properties that he flips are often renovated from the ground up, which in return creates new jobs and brings beauty and appeal to the community.
Damon says, “I found a way to turn my investments into something beneficial for the whole community. All investors should have this skill, too. To give back to people and help with building and revitalizing the community. Every property that I buy needs renovations, and that makes a lot of new job positions for local tradespeople—plumbers, notaries, roofers, and any others who might help.”
Damon also does a lot of work on renovating run-down houses in order to create comfortable and affordable homes. He says, “It’s our duty as humans to help other humans. I strive to add value to everyone I cross paths with; it doesn’t matter if they are my business partners, employees, clients, students. I want to help everyone, whether they are friends or strangers. By renovating run-down houses, I can easily create affordable and comfortable homes for everyone, despite their earnings.”
For more advice on becoming a professional entrepreneur, check out Damon’s YouTube channel and follow his Instagram page (@damonwoodward3). If you need a mentor and coach, you can find one at Blackcard University’s web page.