By Kharisma McIlwaine
North Philadelphia native Anthony Goodwin is a testament to what dedication and perseverance can do. After overcoming a challenging childhood, and a stint in jail, Goodwin went on to make a name for himself in the world of real estate. He purchased his first house at just 23 years old. By age 29, he had acquired several properties in Brewerytown and became an established real estate mogul and millionaire.
With the help of his mentor Marcus Barney (Him500), Goodwin continued to excel in real estate, earning the moniker, “the Workout Landlord.” Now, Goodwin uses the knowledge that he’s gained throughout his years in real estate to help other aspiring entrepreneurs looking to start their own respective businesses, secure a successful financial future. On May 21, Goodwin will host his 3rd Annual American Entrepreneur Sports, Entertainment & Business Seminar. He spoke with the SUN about his work in real estate, his work as an author and the importance of mentorship.
Goodwin’s path to entrepreneurship came as somewhat of a surprise. His journey began with a gift from his grandmother.
“I kind of got forced into entrepreneurship because of how I was living in my younger years,” Goodwin said. “When I turned 18 years old, my grandmother had a few properties that they were selling, but for dirt cheap. So, I got one property for about $5,000 then the next property for $5,000 and that kind of changed my life. Buying those first two houses shaped me into entrepreneurship.”
After acquiring his first two properties, Goodwin learned quickly about some of the challenges that often accompany being a homeowner.
“I bought my first house in 2006 and it took me four years to rehab a 746 sq ft house,” he said. “I had to do the roof first. I didn’t know how to do sheetrock. I didn’t know how to do demolition. I didn’t even know how to purchase a house, because I did a quick claim deed.
“A quick claim deed is when you buy a house without title insurance,” Goodwin explained. “It was my grandmother that I purchased the house from. She ended up having back taxes and she had a mortgage attached to it as well. So the $5,000 ended up being like I purchased it for $25,000. That’s what changed the trajectory of me understanding property.”
Goodwin went on to expand his skills, making himself fully equipped to run a real estate business while maintaining his financial freedom.
“I became a general contractor and I started doing financial literacy,” Goodwin said. “Buying that first house at a young age forced a drive into me. The other thing is 90% of millionaires become millionaires off of real estate. I read a lot of books like “Rich Dad Poor Dad,” which really changed my mindset. It was like either you’re going to be a 9 to 5er or you’re going to be a boss and run a business. It was also about having the time. I always wanted to have time to do whatever I wanted to do.”
Goodwin could clearly see the return of his investments when the houses he purchased for $5,000 appreciated in value to be worth $250,000 to $350,000. While building his empire, he learned the importance of credit — especially for those who are beginning their real estate journey.
“To get started in real estate it all starts with your personal credit, because that’s your foundation — personal credit and making sure you have an LLC,” Goodwin said. “The key point is building your personal credit, so you have funding for your LLCs. When you first get into [the] real estate field, you’re going to need some money to get started with. I would advise you to start with somebody else’s money, but also be able to pay that money back as well. Use the bank’s money to get into it, make sure you get your IRA accounts and get a holding account. There’s a lot that you’re going to have to do, but the key point is getting your personal credit situated.”
Goodwin shares a considerable amount of the knowledge he’s garnered over the years in his book “From Cell to Real Estate Mogul.” He uses his book as a method of mentoring the next generation.
“The book talks about what I do on a day-to-day basis,” he said. “I teach a lot of young kids 18 to 21 on how to become successful. When I was 18 to 21, I was looking up to the wrong people. I want them to look up to people like me that are actually doing it and not telling you to do the wrong things. The most important thing is the mindset and making sure you’re ready to do whatever you said you want to do… that’s even more important than building your credit.”
Goodwin credits his mother, who overcame alcoholism to become a successful minister and Marcus Barney (Him500), a financial literacy mogul as his mentors and greatest influences. Seeing first-hand the positive impact of mentorship, Goodwin offers the masses a full day of mentorship during the 3rd Annual American Entrepreneur Sports, Entertainment & Business Seminar.
“In Philly, we never see big events like this,” Goodwin said “So, for me I said I would try to reach out to all of my resources and bring as many people out as possible. We have Dame Dash, and I used to look up to this guy when I was younger. He made me want to understand how to go from a street guy to a corporate guy. We have Milano Di Rouge, who is really big in the city and around the world. She’s from Philadelphia, so I couldn’t do it without her. We have Miss Bling Miami, who is in the hair industry, and I had to bring my mentor Him500 out, and he’s going to teach you how to run an eight-figure business.”
The seminar will also include panelists Stephen Jackson, Katherine Davido, Ryan Stewman, Justin P, and more. The event will also include a youth business pitch for young entrepreneurs 25 years and younger and a performance from Philly’s own Freeway.
The 3rd Annual American Entrepreneur, Sports, and Entertainment Business Seminar takes place on May 21 from 10 a.m. – 5 p.m. at The Met Philly. To find out more details on the event and where to purchase tickets, visit: www.theworkoutlandlord.com and be sure to follow @workout_landlord on IG.
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