Dave Lukas Chats with Antoine Martel
173: The 23 Year Who Generated over $10 Million in Revenue and Retired His Parents in Less Than 2 Years with Antoine Martel
This week’s Misfit Entrepreneur is Antoine Martel. Antoine is the 23-year-old who started investing in college and went from $20,000 in the bank to retiring his parents in less than two years. He did it through creating turnkey opportunities in real estate. In fact, in just a few short years, Antoine’s company, Martel Turnkey has amassed a portfolio of over 100 properties and has sold over $10 million dollars’ worth of cash flowing real estate. He’s also the author of the popular real estate investing book, A Millennials Guide to Real Estate Investing.
The biggest reason I wanted to have Antoine on the show was not so much about how to invest in Turnkey real estate, although we’ll touch on that today, but because he is a great example that with a little ingenuity and looking at things a little differently, you can create a great business, at any age. I’m excited for him to share his wisdom and everything he’s learned to this point in his entrepreneur journey.
Antoine is now 24. He’s been an entrepreneur his whole life, finding ways to make money in high school – even importing things from China to sell. He started investing in real estate in college. He and his family went to an investing seminar where they taught them how to analyze and manage real estate. He immersed himself into the teachings and did a lot of the work to get everything off the ground because his parents had full time jobs.
They started trying to flip houses in California, but couldn’t make things work for the cash they had. So, Antoine started researching how to buy property in less expensive markets out of state as well as networking to meet and learn from people doing it. He moved all his college courses to night classes so he could spend his days focused on building the business.
He found a lot of people investing out of state and buying single family properties either through turn-key or creating their own teams on the ground. And or course, the prices for the homes were much less.
Through research, Antoine found Memphis, TN to be a good market and started there. He built a team, had his parents invest, and the deal went according to plan. He then graduated and took 6 months to focus on making it a real business.
Now, Antoine had the full day to focus, including the evening and by December of that year, they had 10 homes in Memphis.
They then begin to have people reach out to them asking them how they are doing it and wanting to be able to do it. That is what got Antoine into doing Turn-keys and then selling them to their contacts. They now do over 100 homes a year, 8-10 per month using the model and selling to investors all over the world.
What’s the biggest myth about investing in real estate that you want to put to rest?
At the 12 min mark, Antoine goes through his process of how he finds and invests in a property…
What are the criteria that you look for in a property?
Why is it better to invest for cashflow?
At the 21 min mark, Antoine talks about buying property out of state…
Talk to us about how you market your business
What are the demographics of your market?
What are some of the keys that you have found to consistently succeed at a high level?
What advice would you give millennial entrepreneurs?
What’s been your biggest failure in your business and what did you learn?
At the 38 min mark, Antoine shares some trends he sees coming in real estate…
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