Jul 21, 2020
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.
Key Takeaways:
- 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- 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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Bullseye Tips
Apparent Failure:
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.
Digital Resource
Appfolio (platform for syndication)
Most Recommended Book:
The Art of Performance (Jeroen De Flander)
Daily Habit:
Meditation (mindset is everything!)
Wish I Knew When I Was Starting Out:
Breaking out into other markets earlier
Current Curiosity:
The economy
Best Place to Grab a Bite in Los Angeles, CA
Le Pain Quotidien
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