DreamNation Real Estate Episode 43 – Wonderful Togbey: How to Become a Master Investor in Just Two Years

Have you been caught up with society’s standard of being successful and now you want to try going on a different path that’s a bit different but something you would surely enjoy? How will you be able to keep up with two entirely different lanes?

In today’s episode, our guest, Wonderful Togbey, will share what influenced him to make his way through real estate and how he managed to crush it and become a master investor in a span of two years.

Wonderful is a software engineer and a multi-property real estate investor. He was able to work on his real estate path after he met a motivational speaker, who is also our podcast host, Casanova Brooks. 

Here’s What You Missed

Influences on Mindset Shift

  • “I don’t think I ever really dreamt about, “Oh, I want to own my own thing.” And it has to do with, I guess, the environment.” (03:54)
  • “It was a lot more of like, you know, an entrepreneur back then was a little sin as someone who’s hostile and he was just trying to get it. Someone who’s on his plan B because something else didn’t work out.” (04:03)
  • “So it was really structured in a way that if you want to make it, you gotta become a doctor, you gotta become an engineer, a lawyer.” (04:23)
  • “So I wanted to be able to pull the best chances in my corner.” (04:38)

The game-changer in Real Estate

  • “I’m taking care of my mortgage. I have some extra money coming in. I can decide, you know what, rent’s going to be better. Everything’s going to be good.” (10:58) 
  • “I think I can go home for another two months, spend two months back home, three months, and not the usual one week or 10-day vacation that you get a year.” (11:08)

Become money savvy

  • “I had purchased my own residency that later on I found out that it wasn’t really something that would cashflow ’cause I just bought something that looked nice for me and my buddies to hang out with and not have to pay rent.” (14:44)
  • “I knew what I had in the bank and contacted some agents, say this is what I’m looking for, this is what I can take down, this is a part of time that’s working out, that I think my money can get me somewhere.” (15:23)

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Managing your properties remotely 

  • “I have built a team over there in Omaha, and you speak so much about having the team ready. I’m really just a phone call away for calling someone to go on over there.” (28:42)
  • “And if I need to have someone else double-check the work that that contractor had done, then I can call up a buddy and say, hey, check this out, like usually something on the outside. And usually, if it’s on the inside, I can ask my tenant to send me a picture to make sure that the work was done.” (28:51)

Challenges of being a starter in Real Estate 

  • “There was some more, just dealing with the balance between being a nice landlord and enforcing the lease, things like that. I had some people that try to take advantage, I guess, the young  face.” (29:42)
  • “And another, I guess, being patient with deals I’ve had. I look at a lot of them, you know, being able to say no as well.” (30:09)
  • “So just being able to sometimes say, ah, well, I guess I got to let this one go.” (30:35)
  • “…but for the most part, I’ve been very patient with the deals that I’ve done.” (30:44)

Mastering the Real Estate game

  • “I guess the number one podcast that you had referred me to back then, that I really just listened to is the BiggerPockets Podcast.” (31:15)
  • “I would say, as far as books go, just the common ones that everybody reads.  I do lots of already audiobooks. I’ve read a lot of mindset things, some negotiation.” (32:07)

Reaching out to people who can become your mentor

  • “If you’re trying to get some help with people that you look up to, try to bring some kind of value.” (35:19)
  • “I think by wanting to get some mentorship from you, I think I would have still went ahead and invest it in the product that you had just because then it makes you invested in my success.” (35:33)

Quotes and Advice from our host and guest:

  • …but I always knew that I wanted to provide more for more than just myself. I knew that I had to, and I was the only man in the house. I knew that. I had to be the one to get it all figured out, and kind of payback everybody.” – Wonderful (05:13)
  • “I had no other reason but to do this.” – Wonderful (10:33)
  • “It’s so important to make sure that you can educate yourself because like you said, in the beginning, it’s about getting that confidence. And the more knowledge that you have, the more confidence that you will have” – Casanova (33:21)
  • “There’s always a deal. It’s about how do you solve the problem.” – Casanova (33:54)
  • “It’s a blessing to be alive, you know? And I have enough to make it happen and I have people counting on me. If you don’t do it for yourself, if the answer to don’t you want to be happy is yes, I’m happy for myself, well then maybe how about the people around you?” – Wonderful (39:52)
  • “’Cause if you take care of your family, then you’re just doing what you supposed to do. You gotta be able to help out way more than that. But once you start there, you have those things in, and you ask yourself those questions on a regular basis. You just got to take action.” – Wonderful (40:18)

Books, Mentions and Links:

Wonderful Togbey

 

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