He realized that he condensed 5 years worth of failures into 5 crazy months.
Dallas, Tx (PRWEB) May 31, 2017
Today Daray turns 27. Today he closes on a half million dollar 4 unit property.
Needless to say, he's been busy.
Life is filled with so many ups and down. Right now life is up. Just a few short months ago life was not so up. As a matter of fact, just a few hours ago he had no clue that he would be closing today or launching a podcast today.
Late 2016 Daray was a young and hungry entrepreneur. To that fact nothing has changed. It's highlighted to emphasize the slow progress made leading up to this day.
August of 2016 Daray decided to seek out and purchase his second rental property only having purchased the first one just 3 months prior in Houston, Texas. He decided that the opportunity was in Dallas so he packed his bags… actually he didn’t pack his bags. To further explain, he had been working hard all summer to create a few streams of passive income, some stuck but most failed. The idea was that if he was able to create these streams, then he would then be able to use the profit made to invest in Real Estate and start building generational wealth for his family while creating the lifestyle he envisions. Real Estate still is the goal. The plan, however has changed drastically since then.
Daray soon began his search for a 2nd property to house-hack, renovate and move in tenants. It was similar to the plan for his 1st property. He quickly realized that the market was entirely too hot and that it would take him a lot longer than his previous estimated deadline of 3 weeks to get off of a friends couch. Not coincidentally, his girlfriend lives in Dallas and has been extremely instrumental in his success while supporting him through what they thought would be a 3 week process but turned out to be a 9 month process - No, not a baby. It literally took him 9 months to move to Dallas. It’s now time to actually pack his bags and become a resident of Dallas, TX.
In the past 9 months, Daray has made numerous offers on properties, he even went as far as having a couple of properties under contract. One property being a futuristic 215K purchase price condo that remained under contract for four whole months just to walk away empty handed. Empty handed due to the seller who (knowingly or unknowingly) neglected to disclose certain liens against the property. Daray expresses that this was one of the worst roller coaster rides he had ever been on to date. Today, he's grateful for the experience and wouldn’t trade it for anything. He's learned so much and grown as a person in ways he still doesn't believe. Throughout the process Daray has experienced many sleepless nights, friction with family members and friends, thousands of dollars and countless time thrown away. It was gruesome. Luckily (or unluckily), he had been through a lot of the same problems before so wasn’t a stranger to the lows. Especially having spent the previous 2 years in what he believes to be the lowest points in his life - This will be covered on a future BTM podcast. These lows equipped him with the “grit” he needed to stay afloat and keep his head above water while the world around him, as he knew it, was crashing and burning. He couldn’t close on any deals, none of his businesses were profitable - in fact they were eating into his cash for the property purchase and any other funds they could get their hands on. Daray had too many things going on at once. He would go work his corporate job, get home and work on his businesses until it was time to shower and head to his corporate job again. He mentioned that he couldn’t even recall how many nights he did this or how many nights he actually did sleep, but in his car because he had arrangements to close on a property that didn’t fall through.
Late December 2016 he realized that he was taking 3 steps back for every 2 steps he took in the right direction. Over time he shut down his businesses one by one - not only because they began to grow too costly but also because he didn’t have the time to manage them so they would never grow profitable. This proved to be a good thing as he started freeing up more time for his primary businesses at the time, an online high end furniture store and real estate.
He realized that he condensed 5 years worth of failures into 5 crazy months. Daray also realized that he was behind schedule on his Real estate goals and therefore decided to make a hard stop and seek advice. Through a series of unrelated events he was able to hone in on exactly what he wanted to do, how he wanted to do it, and when he wanted it done by.
January 2017 Daray took off to the races. His plan was to create 2 seemingly complex businesses and focus on nothing else. He decided on 2 businesses rather than 1 because they complimented each other very well. More importantly they were right in line with his long term goals.
Short term goals -- Daray's 2017 goals are to own and operate 100 units through the purchase of apartment complexes and helping millions of people through their entrepreneurial and investing journey of creating a lifestyle that most don’t know is even possible. He's aware how massive these goals are, especially for someone who has a full time corporate job but by publishing this release, everyone can hold him accountable.
Once Daray was finally set on his path towards accomplishing his goals, he figured that the worst was behind him and that the lows of the past 2 years would finally see some balance. He was wrong. Terribly wrong. Things got worse and fast. He got more entrenched in his corporate work, deals were continuously falling through left and right, tenants were vandalizing his property with no regard, the IRS decided to freeze his accounts, all while he was still technically considered homeless. At this point or maybe even far before this point, many would have tucked their tails and returned to safety BUT he was way too determined. Having learned at a young age that there was really no such thing as failure if one has the right mindset. So the more life pushed, the more he pushed back. He wasn’t taking no for an answer and committed to seeing his goals through. So that’s exactly what he did (and continues to do).
The Before the Millions podcast was originally planned to launch late April including the closing of the aforementioned property around this same time. Completely unrelated, problems with both the podcast and his real estate ventures kept creeping up one after another; it was like a never ending cycle. At one point the problems grew so ridiculous that he just knew there was a force out there trying to prevent his success. Different problems would arise and he would hear statements from professionals like “in my 35 years of doing this, I’ve never seen anything like this” or “this problem has always been a myth, you’re the first person I’ve seen it happen to”. He received these words of “encouragement” constantly and always replied with a smile and a “Wow, you mean I’ll get to tell that story one day” rather than a ‘why me’ panic attack. Every day for about 20 days, he was literally supposed to close on the property (again this stint was nothing to him as he had a previous property under contract for 4 whole months before complete disaster). Almost every day they would have to push the closing back a day because of some issue no one had ever heard of before or because someone on his file was being fired or leaving. Even just yesterday, Daray couldn’t close on the 4-Plex because Chase's Banking system that catered to his particular transaction was down, not only was it down but they were in a fight against the clock as if Chase didn’t resume functionality in a timely manner the seller would be ready to walk. The seller almost pulled out of the deal on numerous occasions but again that's another story. On the Podcast front, again just yesterday, iTunes (as well) was experiencing technical difficulties that had “never happened before” and that had only affected a very small group of people around the world. From the theme surrounding this narrative, of course its an easy guess that Daray Olaleye was in that small group whereas millions of everyday users were unaffected. These weren’t the worst problems, but the most recent. These problems, or series of unfortunate events came together in one accord to cease on one day, the same day at that. His birthday! Crazy right?
Daray's string off failures and problems, unplanned of course, have led to the bizarre outcome that is turning 27, adding a new multifamily property in his portfolio and launching the all new Before the Millions podcast. His story has inspired countless members in the Biggerpockets community to stick with it no matter the odds or opinions! God Bless - At the end of the day he is the only one that can truly bless.
Inspired by the Host of the Before the Millions podcast Daray Olaleye? Enjoy the variety of millionaires and entrepreneurs that Daray has on the show every week discussing a wide array of topics from Entrepreneurship, Investing, Real Estate, Travel, Financial Literacy and much more. Join a growing community visit us now at beforethemillions.com.