As an aspiring writer, Mark Hentemann struggled to find income stability early in his career. He landed a gig writing for David Letterman in NY, before deciding to head out west to Hollywood. After being hired to write for a new animated series, he used his first paycheck to invest in real estate. He assumed the animated series would be cancelled and needed to make sure he could create a more stable income. He was half-right, the show was cancelled multiple times, but Family Guy turned out to be one of the most popular animated adult shows of all-time.
In this episode, we talk about his journey going from a starving artist to a multifamily investor, why it was important to create stability with his income, growing a portfolio with a demanding day job, and investing in Los Angeles compared to Texas and Utah.
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The scars of his starving artist days led him to find a financial cushion and he bought his first investment in a duplex using his payment from Family Guy
The challenges of breaking into the entertainment business
How Hollywood taught him to take care of his financial future
Mark’s first real estate investment
The question that changed his life: Why are you throwing money away paying rent when you could be putting that money towards your mortgage?
A light bulb went off when he sold his first duplex property for $1.27MM making a 2000% return on his 10% downpayment
Writing is his dream, but real estate is his must, as he can continue writing while investing in real estate
How to create equity on your first deal to scale your portfolio
Strategies on how to invest on the side without giving up your passion
Putting together a top-level team to scale your business
Expanding his portfolio from Los Angeles to Austin, Texas and Salt Lake City, Utah
How to find a top-flight property management company (it’s not easy!)
How Mark started bringing on other investors
Still making money during the 2008 crash: Bought a B-Class property with investors
Tips on how to stay creative and productive when creating content
Taking constructive criticism and using it to grow
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All those punches in the face trying to break into the entertainment business: They will either break you in half, or you will be stronger than you were.
Appfolio (platform for syndication)
Most Recommended Book:
The Art of Performance (Jeroen De Flander)
Meditation (mindset is everything!)
Wish I Knew When I Was Starting Out:
Breaking out into other markets earlier
Best Place to Grab a Bite in Los Angeles, CA
Le Pain Quotidien