From Engineering to Development: Ace Hagerty's Journey to Financial Freedom

Welcome back to the REI Mastermind Network! In today's episode, we have a special guest with us, Ace Hagerty. Ace is joining us from Nashville, Tennessee, a city he loves and considers to be booming. As an experienced engineer and contractor with 15 years of experience, Ace recently purchased some land and delved into the world of real estate development. However, after finding the contractors in Nashville to be expensive with subpar workmanship, Ace decided to take matters into his own hands. With a background in engineering, he figured he could do it better himself. And so, amidst the COVID-19 pandemic, Ace embarked on a journey to become a ground-up developer, building single-family residential homes and multi-family townhouses. While he admits the road hasn't been easy and he has encountered failures along the way, Ace believes these experiences have shaped him into a better investor, manager, and person. Join us as we delve into Ace's inspiring story and discover the lessons he has learned on his path to financial freedom.

Check out the podcast at REIMastermind.net

Key Topics and Bullets:
Background and Experience
- Introduction to being in Nashville, Tennessee
- Experience in engineering and construction for 15 years
- Purchasing land and observing the construction industry in Nashville

Decision to Start Building Himself
- Contractors being expensive and workmanship not meeting standards
- Contractor's comment about being able to build better himself
- Realization of potential financial gain by doing development work himself
- Influence of COVID-19 in starting his development journey

Journey as a Developer
- Transition into being a ground-up developer
- Types of properties being built (single-family residential homes, multifamily townhouses, etc.)
- Comparison to Robert Kiyosaki's path to financial freedom
- Acknowledgment that it was a long road, but potential for faster success in today's age

Lessons Learned and Growth
- Acquisition of knowledge and understanding different parts of real estate investing
- Making mistakes and experiencing failures
- Improved skills as an investor, manager, and person
- Acknowledgment that the journey is not recommended for everyone due to its difficulty but has made him better