How would it feel to be 34 Years Old with 74 Employees and 500k in net monthly cash flow? Logan Rankin knows how it feels, and wants you to learn how also!
Logan is an experienced & strategic entrepreneur that achieved financial freedom by the age of 30. He has built 2 multi-million dollar businesses and owns over 1,900 units valued at over $200 million in real estate.
He spent the first decade of his professional working career with a fortune 50 corporation leading retail operations. He escalated quickly through various leadership positions where he built high-performing teams and managed large P&L portfolios. During that time, he led and implemented strategic operational changes at the enterprise level across the US.
Currently, he is focused on growing his 3 real estate-related businesses, velocitizing his money, and investing/consulting for other businesses. Beyond his investments, he is passionate about financial education on all levels.
According to Logan!
- You don’t want to save it, but you need to accumulate money as fast as possible to be able to stack that money, to be able to invest.
- Leaders get paid more money. And one of the best things that a leader can do is help everybody else around them be successful. One of my goals. And every relationship that I have, my ultimate goal is that they win more than I went in.
- I did learn this one the hard way too, is you should be building your standard operating procedures for the business and never for the employees.
Summary:
Logan’s multifamily business has grown from 200 to 1,923 units, with 74 employees. Logan’s W2 employment paid him around half a million dollars. And he firmly thought that what matters is what you keep, not what you produce. He can accomplish 85, 80, and 5 percent of all that needs to be done in-house as a construction company. He also assists his employees in entering the real estate market. Working for a Fortune 50 corporation served as a springboard. Logan has real estate worth $210 million.
Meanwhile, he spent $712,000 on capital expenditures last month. Since 2009, he hasn’t spent less than $500,000 in a single month. Logan has grown from four employees to 74, and there have been many challenges along the way. He plans to invest a hundred thousand dollars in development and training this year. “So that’s what, we’re, what we’re thinking,” was one of Logan’s best sayings. People want to work for organizations that are “fun and care about them,” according to him, which is a fantastic example of professionalism.
The cash flow quadrant of a normal family’s finances is what Logan and I are discussing. They’re reinvesting the majority of their profits in real estate to maximize profit and financial growth. We learned from Logan that rapid growth causes a lot of challenges, but that’s fine if we have contingency measures in place. Every property Logan has purchased has been a partnership or some strange fund, according to him.
As a result, real wealth is created by running enterprises efficiently. Logan strives to keep business running smoothly at all times. And, to some extent, there is a requirement for time to work at a fast pace daily. Because it will assist us in achieving financial independence more quickly. Logan didn’t want to produce a book that was only for beginners or those who had no idea what they were doing. Logan explains how he generates velocity with assets and liabilities in his latest book. There’s a whole chapter dedicated to that. There’s also a full chapter dedicated to real estate. Furthermore, Logan’s preferred method of hiring is “When he employs someone or engages with them, he wants the amount of value that he gives to be slightly higher.”
I eventually inquired how people can contact Logan and learn such fantastic things from her at the end of the chat. Also, how old are you, Logan? What do you want to achieve in the next three to five years?
Then Logan shared his Logan raycon.com website. At the very least, it’s incredible to think that Logan is only 34 years old and owns 1900 apartments. Not only did he have a 60 million accepted offer for 600 units, but if that goes well, he’ll be able to buy more of these larger 500-plus apartment buildings. Also, he focuses on issues such as health, financial literacy, and housing.
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Resources:
GoBundance
Are you an accredited investor and want to learn more about GoBundance?www.gobundance.com
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