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Empodera Latina

Season 1, Episode · 2 years ago

Journey of Entrepreneurship with Boris Sanchez

ABOUT THIS EPISODE

In this episode I sit down with Boris Sanchez, Owner of Sanmore Investments & a Commercial / Real Estate Developer to talk about how he has been empowered throughout his life and found strength through his experiences in Entrepreneurship. --- Send in a voice message: https://anchor.fm/rita-bautista/message

You're listening to empowerment and all that podcast, your favorite podcast for women's empowerment, hosted by Ried Abouti Staff. It's time to be reminded of the authority of your inner goddess and elevate the power within. Are you ready? I wanted to get started by telling everybody a little bit about you, but I kind of want you to give a quick little synopsis of who you are. You know what your footprint is in Houston, and then we can get started. Sure, I'd love to sound more. Investments was founded by me about seven years ago. We are commercial real estate investors, brokers and lenders. We Dabble in each of the commercial real estate areas, but specialize in multi family. So we own over a two hundred and twenty units in Houston alone. But you said you've developed like over five hundred units already. Right, correct. We've had our hands in about five hundred units and dozens of transactions with us in our clients quilling, you know, the tens of millions, a hundreds of millions dollars. That's pretty impressive for someone. It's sound such a young age, or what like twenty two, twenty three right now? Oh, stop it. I'm thirty four. I mean that's always a good accomplishment at thirty four years old to be able to say that you've been able to do that. that. Now, entrepreneurship started for you at a very young age, didn't it? Yes, it did. So I have a sort of a funny story, but the very first time that I was dabbled in entrepreneurship I was six years old and I was in in School in Columbia. I forgot what great I was in. It's probably in the first or second grade, but am I so? If your audience can picture, my school is in the side of a hill, a very steep hill, and the lunch room was set up at the very top of that hill and the classrooms all the way down, with our classroom being one of the bottomost classrooms. So obviously, just like any other kid, I guess, they send you out on lunch to go get your own lunch, stuff like that. We used to hike all the way up the hill to go get our lunch and then one day I had the bright idea, you know, being me, being the entrepreneur, and having the idea that I always wanted myself. I just wanted, well, how can I say, is my own things, right. Yeah, I came up with it. Yeah, I'd think years old. Yeah, I guess it is where it starts. You know, you want to have your own things and have a little bit of independence. So obviously I felt that at very young which I started asking students if I could go get their lunch for a hundred paycos, which is like ten...

...cents nowadays. Yeah, but and actually proved to be very successful because, I mean at that point I was very skinny and I was actually agile. So I started asking the bigger kids first. And Yeah, actually it went off without a hitch. I went off for weeks and went all the way up to the top of the hill, got their lunch. Charge my hundred Pacos ten cents, and I started amassing quiet a wealth of ten cents, you know, much for each transaction. But I'm just kidding. It was about, you know, two to three people that I used to go get lunch before, but then actually it took off. It took off so well that I had to hire other kids to actually do it for me, and I paid them five cents and I get kept five cents. So is it was a crazy experience because afterwards other kids started getting in on this and started being entrepreneurial as well. They started charging eight cents, you know, instead of them your cat. Yeah, so obviously what you know, what, What what any entrepreneur would do is actually better the service and keep your prices or drop their prices. And you know, with volume you can actually get a lot of stuff done. So I hired more kids and, you know, even the competition was fierce, I still, I always still doing pretty good. They all came to an abrupt end when the actual teacher find out this was going on and actually prohibited anybody from doing this. And so, you know, we got stopped by the big man. Man. That's terrible. We've been the launch of like Uber eats at a very young age. Exactly, yeah, exactly. Never know what that would have taken. So from here we move on to you being like, what was it, thirteen years old to ask for special permission to work. Okay, so, yeah, I moved to Houston with my family. Between there, obviously we had a tumultuous time moving to this country. We moved it because of the guerilla so, you know, Publis escobars, Mafia and gorillas threatening to sue up to not to sue, to actually well, you know, kill us. So we had to come over here and escape their lives, our lives in Columbia, to find better life. Where you directly affected by that, like they were actually threatening your yes, your families a whole. My mom was a very prominent Colombian lawyer and she won a case against the Mafia back then, and they literally kept dropping voicemails and her answering machine saying hey, we know where your kids are, you know that, we know that your kids are writing the gray school bus and you know, we know that such and such a so they just threatened our lives right. So at that point my mom was like thin gonna happen, we're out. Yeah, so we came to this country, you know, seeking a better lives, like a lot of immigrants to yeah, yeah, and I was, you know, a...

...couple of years past, I was thirteen years old, and that kind of entrepreneur mindset and never really left me. I've always wanted to have my own things and, you know, just be able to take off on my own. I was also was very independent. I was the independent guy in the family, and so I asked my mom to take me to the Court House and give me special permission so I can work at Burger King at thirteen years old. And she did that. She was like sure, yeah, no problem. She took me to the Court House, I went back to Burger King get with my permit and I didn't get the job. I didn't get the dam you, Burger King, like I know they probably, they probably regret it to this so I but I ended up doing surveys in the mall in front of Star shots for your audience and no star shots. Yeah, I was all about the star shots and asking people for surveys right right outside of of their store. Wow, star shots, the glamor shots of our time. Exactly. Yeah, so you didn't decide to be a CEO star shots. Then you go on to move to Shell Oil Company at Sixteen, Right. Yeah, I mean at sixteen again, I was I had this feeling that wouldn't escape me. I wanted my own things. So when I was in high school I signed up with this pre OP program. I'm sorry, it's not going preer. It's called Coop, coop program, and which, you know, they hook you up with all sorts of companies willing to hire you. Lyondale, SHELL OIL AIG has. You know, there was a lot of companies. I actually made it into Shallow Company at Sixteen and I was, you know, I was ecstatic because I was getting paid all the fourteen dollars an hour in that time. It's actually a lot. I mean that's more than minimum wage right now. So that's all true. That is true. So I was ecstatic. I made a lot of bad financial decisions with that money and when got a Porsche, you know, I went all out. I was like, you know, I it was it was like I had it all, but obviously I had no idea what it is that I really had. Yeah, wow, so sixteen, she'll we started uberrets. It's six and now we're moving on to a billiard pool Q purchased from the Philippines. Tell me a little bit more about the sure. So I kept on going with sell little company. I at the same time I graduated high school and, by the way, I was so focused on high school. I'm sorry, I was so focused at work that I wasn't even in the high school yearbook. I was just I went to one class and that's it. I wasn't even in the index of my high school you book, but you know, I didn't care whatever. I had my own things going on at the same time around there. I started an online store back when Ebay was all the rage and e commerce was taking off. So I...

...started selling things around the house, and this is actually my very first formal entrepreneurial campaign. I started an online store and I started selling things around the house and then soon enough other people wanted me to sell stuff for them, kind of like drop shipping. Yeah, and it got so good that I actually started making contacts in the Philippines and I developed my own line of polk use of you know billiards, poll cues, pool sticks, as you some people might come they had natural shell the had you know, Abalony, mother of Pearl. I mean they were really, really nice, snake skinned. They're really nice pool sticks and I sold them here for was it like a hundred bucks apiece. I got a made over there for twenty bucks. So it was actually a, you know, pretty solid deal that I had until that the supplier found out what I was doing and decided to cut me off. So up until now actually, if you still log on to Ebay, if you look at for Boris B or Bo Riz, you can still find the pool cues being available online. Wow, because they're been so successful and getting these sold. That's crazy. Do you get any royalties? And you know, would be absolutely nothing. Oh Man. And so around that same time, other people, like I said, started noticing that I could sell, had a power of selling a lot of stuff online. I met this gentleman whose name is Kevin, and we started drop shipping together. We actually he would sell a lot of stuff. He had a lot of stuff in scarage. So I would sell a lot of this stuff, and then we started running out of stuff to sell. Didn't you say? You also sold everything out of your mom's house too. Pretty much. Yeah, pretty much, as is sold some stuff by I should have one time I actually sold my brother's shirt because I was actually bad mad at him, as I'll show you. Yeah, it was like a four hundred dollar shirt and I saw the for like fifty bucks. Well, now is your time to apologize to your brother. I'm sorry, he knows it. Yeah, so, around this time, like I said, I met this this guy named Kevin, and he we started practicing drop shipping, which is when you actually never get to see the product and you but you sell that anyway. For example, well, let's say that you want to sell video cameras like we did, you order them only after you've gotten paid, so you sell them before you buy. For example, you sell the video cameras at fifteen hundred, like we started doing, but we after people pay them, then we use that money to buy the video cameras at eight hundred dollars a pieces, and that's exactly what happened in this instance. I sold a total of about fifty two video cameras and because they sold, they sold like hotcakes and I trusted Kevin...

...to actually forward and by a by, all of the video cameras and for them to these people. But he actually never came through with that promise. He disappeared. I paid him all of the fifty five thousand dollars that people had paid me and he completely vanished and that was a pretty dark moment in my life. Actually. What do you think you learned from that situation in particular? I learned that. I mean, unfortunately I couldn't see it at that time because it was just so dark. I mean, you know, it's not easy owing people, you know, Fifty Fivezero s at, you know, twenty one, twenty two years old. I sold everything that it took. I mean they really shut me down. Ebay should be down. Pigpos showed me down because I was getting sued ran left by people that had paid me directly. I had just forward of the money to Kevin, but obviously I was in the hook for the fifty fivezero. So I couldn't find him anywhere. So I started selling anything and everything it took, but I wasn't able to. So it it, you know, to for the constable to show up at your front door and to say hey, you stole money from these people, you got to pay back, and it's horrible. It's a horrible feeling for somebody's actually just trying to, you know, get a better life, especially at such a young age. I mean twenty two years old. What do you really know all the way through, right, and this is you're like fourth, third or fourth stab. It like actually trying to continue learning how to build wealth, right, because build a business, that's right. So you know it. I did whatever it took to get me out of that. I didn't, you know, get into any vices, thank God, but I did, you know, sell anything it took in order for me to make ends me. You know, I got to tell people and I sold my shirt. You know, it's whatever it took in order to pay these people back and I and I still couldn't because it's fifty fivezero a throne. HMM. That's a pretty powerful lesson, though. In general, for people who want to go out and be entrepreneurs, it's like the highs are really high, but the lows are pretty hard and you have to be willing to roll through the punches and continue to deliver it right, because it seems like you are going to deliver at any means possible, if it meant selling a shirt off your back to do it. Yeah, exactly. People know that getting screwed is is not easy, and then when it affects you personally, is even worse. And you know usually by that age you don't really know that it's just business. You know, a con man got you, they got the best of you. You should probably just cut your losses and move on. But I took it very personally, like, man, this is what it's like to be in the business, of being in your own business, of being an entrepreneur. So I knew that I had to get, you know, more shrewd in who I chose to...

...do business with and more shrewd and picking the people that are around me. Yeah, so I think something that's also interesting that you didn't know it was that at the same time you were also dealing with grief because your mother had passed away during that same time. So it seems like all of that, your personal and your your professional life seemed to have been going through a very hard time. What brought you out of that darkness at the end? Yeah, I mean it was. It was got even darker because my mom did pass away and she was always the light in my life. She was always the drive. I think, you know, I owe her a lot. She came to this country with nothing and she started sweeping floors, delivering pizzas and anything it could do she could do to, you know, push her children forward, and so it was a big loss for me and my family. So it just sunk me deeper into the pressure, Shu, and you know it's hard for people going through the Pression to hear that time heals all wounds, but it's it's true. Yeah, I didn't. I know that I didn't want to hear anything about working out or it's going to be better one day, or it's just snap out of it. It's just doesn't work that way. So, but dot time does feel wounds. It started being a little social again. I started buying and selling cars, which was, you know, my hobby, and little did I know that it actually became a real business, this this car dealership that I formed. So that was kind of like the light that began to shine on you after yeah, because I got good at something. I got good at selling. I'm I've always been good at selling, but like a you and you started in six you know, exactly selling the service and setting a product. You know, in a lot of ways it's the same. But yes, I got good at something and when you focus on Hey, look, I'm good at something, I'm not total trash and people can just take advantage of me. I'm providing good service by providing this clean cars people. I made a business out of it and started goal quest auto out of southwest Houston and it went it went very well for a while. Yeah, it's awesome. So let me ask you a question. So you got your NBA right, you go to London, you experience being, as you said, you were the one student that seemed to have had working to actually always continue working with the rest of your class right. Everybody else seemed to have been there just going to school, versus you going to school and working and and struggling through school. But do you think you really gained a strong knowledge from your NBA or do you think that it was all the experiences that you had along the way, or was it like a mix of everything? Yeah, I think it was a mix of everything. Right after I left, right after I sold my dealership, around the recession, there were people forty years in the business selling their dealerships right and left. So yeah, I actually got lucky and I sold my...

...dealership back then and I said, well, I'm graduating from college, which I've paid for myself up until this point, I'm sold my dealership. What's next? You know, the recession is looking pretty bad. It doesn't look like there's a lot of opportunity. I think I'm going to take this time in order to educate myself, and that's exactly what I did. I went to London and applied for this great school and I got a couple of scholarships and, you know, it was a one year intensive course. I got to see a lot of Europe and travel while studying. So it was it was a phenomenal time in my life. I learned a lot about business and I had that great this is the best part. I had that great Aha moment of Hey, I had no idea what I was really doing all this time with, you know, the ECOMMERCE building, with my dealership. But that's why I saw what I saw. I learned what a profit and loss was. I learned, you know, how the normal business processes are. I learned how to actually provide a solution to clients and how to build that brand, how to maintain customer loyalty. I've learned a lot of things. So I it was good because, looking back on it, I had a lot of experience as an entrepreneur and as a, you know, a corporate employee, but having the NBA taught me to actually apply it in my head and apply and actual numbers and on paper. Yeah, that's interesting exactly. So Most Valuable Project you did in college in your MBA program most valuable projects is probably to analyze a Gillette Projectt in Thailand. We analyzed how Gillette was actually deploying their marketing techniques in Thailand, which, as a place that you know, is renown for people not shaving it's going to say is that the razor could the really use toilette to and let me tell you, they're so much better than most of the female razors out there. But okay, yeah, exactly. So that was one of the best projects that I remember working and everything that we had advice to let to do, the ended up implementing and they actually did very well. Jump the cells jumped up a hundred and twenty percent after we coach them through how to implement a better marketing strategy. Wow, that's pretty impressive. And you saw a hundred percent of the profits right. Oh, your person in the profits. I got a good patent of back. Thanks for US go back. All right. So let's say you finish. You Finish College, you finish your NBA. storry, not college, but you finish your MBA. You decide you're going to come back...

...to Houston. Right, so you join a real estate family business as a mortgage loan officer. That's right, after all this experience. But you go back into real what makes you go into real estates? It sounds like that's your first real like step into it. I've never been critical of the MBA process, but I do think they put a seed and plant that employee mindset in you. They don't really cultivate a entrepreneur and entrepreneurial kind of spirit in folks. They just think that you're going to go get a job after this and that's all we talked about during the NBA is. Okay, what are you going to make after this and what companies are you going to work for or and what are you going to be? What's your title? They put a lot of importance in this and I actually yeah, sure, I that's what I believed, and that point is that I'm going to go back and be a great employee and I'm going to grow my family's company and that's pretty much all I'm going to do. So you're mortgage loan officer than for your family's company at the yeah, so I went. I came back to Houston and I became a mortgage loane officer, a residential mortgage loane officer, and I did very well. My first few years were just doing the straight residential and then I started to dabble in the bit of commercial. Then around twenty, what is the two thousand and ten? Two Thousand and eleven, Obama, change the law or actually, no, I was okay. Yeah, yeah, around the two thousand and ten the Abamachine is the law and residential mortgage loan officers couldn't make as much as they did before. So I full fledge went into commercial real estate, okay, and mortgage. Mm so you're a lone officer in commercial at that point? Is that or correct plain exempt? I'm a little confused. I don't understand that. probablyctive. So, yeah, it's pretty self responsory. Residential is just homes. Commercial you know, things like shopping centers, where houses apartment complex has. They're completely so different. Animals, right. A lot of people don't understand that or or fail to to comprehend that. Homes are not equal as a business. Right. So a home is valuated for how pretty it is, the location of it, what your neighbors are selling for, and a commercial asset is actually evaluated by the amount of money it makes. M and so I was actually fascinated by that whole the whole, yeah, idea of commercial property and actually growing a business that is founded on actual real estate. Well, it's pretty cool. MMM. So what advice would you give somebody who wants to get into commercial real estate? I would say don't do it. I'm scary? No, definitely do it it, just be careful because it this is a...

...completely different beast than residential. You have to learn way more about finance and not so much about, you know, the grant of counters matching the cabinets. That stuff still matters, but not as much. It's you have to make sure not to overspend and in a building, in order for it to cash flow, you have to make sure you using the right financial tools and you have to make sure you know that, at the end of the day, you have an exist strategy out of every single deal that you do. That almost sounds like those are life experiences that you could translate to any situation right later. Don't overspend, have a good exit strategy and, you know, make sure you're not focusing too much on the details, right, because things are going to happen anyway. Yeah, that's true. That expect that is true. I mean, commercial real estate has taught me a lot about how to connect everything that I've learned up until this point. I used to think that, you know, I took jobs and I found the little businesses around when I was twenty five years old. I didn't know where it was all leading I just that. I just said, Hey, where is this all going? What is the point of me being an employee but also finding this business is getting screwed? What is the point of life, you know, is this going to keep on happening all throughout my life? And so commercial real estate actually gave me that satisfaction of everything you've learned up until this point, everything you've experienced, you're going to apply for this business, and I thought that was phenomenal because I had that great, you know kind of breathe in and breathe out, saying, Oh wow, okay, I used to think that is, that it was all for nothing, and now it all makes sense. So, for your listeners out there, you know, the one of the very best things that I can tell you is just keep going, keep you know, keep driving yourself. Don't think that it's for nothing. You know, if you have odd jobs, if you have experience in this and that, you have experience in retail, but you also have experience in banking, don't give yourself up to the idea that you this is all for a great design and you could actually implement all of the things that you've learned into something greater at the something that you're going to be happy doing every day. That's a really good thing to lead up on because, you know, we spend so much time, especially when it comes down to go into college, Right, the college is supposed to give us this like massive idea that, oh, as soon as I finished, after being from eighteen to, let's say twenty one, if you're traditional, twenty two, and finish then, and then you go to your master's, agree whatever. By the time you get out of school, you're supposed to know exactly what you want to be. And the truth of the matter is, it's, like you said, those those things don't always work out for everyone, especially people who haven't been extremely exposed to other avenues outside of what they're just seeing,...

...right. And so that opportunity to really just believe that everything that's happening to you is happening for reason. I mean that's that's really, really a great platform to stand on because, you know, definitely, I mean, you know, I've never been a big religious man at I do believe in God, but what I'm saying is that your life experiences can lead to something greater, if you let it, if you actually go out there and take advantage of the opportunity that you can have a business based on every team you do. Like, for example, if you, if you know you're good at selling cars or or even good at, you know, managing people that watch cars or whatever it is, then why not do something with that, you know, take advantage of the fact that you are talented in a certain area and apply yourself. HMM. Yeah, but how do you? How does a person recognize that they're actually good at something like how do they notice that that's a strength that's big enough for them to take a risk on? Yeah, I think that, you know, obviously depends on everybody and and everybody who surrounds them. If you're if you're surrounded by negativity, you have to make sure to take yourself out of that. You have to make sure to find yourself in with in groups that recognize what is each other's strengths. You can't always go up to your friend and tell them, you know, all the negative things that you're not doing with your life. Make sure to tell him something nice about themselves, and you'll be surprised. You will hear that in return. You will hear that, hey, you're good at this, you're good at that, let's let's do something together. Why don't we do that? That's actually how sound our investments got their start. Is it was me being good at financing properties and being good at being able to identify good properties. My partners joined me, a mechanical engineer and a CPA. You know, one of them is really good at sales and and the process of sales, and the other one is really good at analytics, and so you never know what kind of centers you're going to have unless you actually start surrounding yourself with a positive, right minded people. Absolutely, that's so true. I mean sometimes we also don't realize we could be the negative factor as well, and so when you do start surrounding yourself with people who are not in that mindset, it kind of helps you start to see that maybe, okay, you should start looking at things differently. So it is definitely about who you surround yourself with and you know just what lends you use to look out of exactly exactly. If you're, like I said, if you're if you're surrounding yourself by negativity, you or yourself are going to becoming a goot of person. So you have to make sure to listen to folks you know listen to, I don't know, podcasts, friends or even people who are who you admire, M and surround yourself in that mindset. Yeah, yeah,...

I'm a big proponent of podcasts. Now, exactly, you have to listen to empowerment and all that, exactly. Thank you plug now. But yeah, no, I am so extremely grateful that you came to do this interview with me and I just want to see if you have any rules or particular words or a quote or something that you live by every day that just helps you in those days that sometimes it could be difficult, or days where you're just like, you know what, it's Monday, it's five am. As much as I don't want to get up, I'm going to do it because of x, like what gets you out of bed and what continues to empower you through like any day? Yeah, I mean, that's that's actually very good. Everybody should have something to wake them up and make them be a better man or woman person. I believe. You know, obviously the wealth of everybody who surrounds me is extremely important. I don't mean just monetary I mean happiness I've been being able to provide. I mean freedom, freeing it, freedom to be able to enjoy life right. A lot of us get wrapped up in just working so we can pay bills, and it shouldn't be like that. You should there's actually something better than that. So it's being able to provide those around me with a better lifestyle. One of my partners used to work every day. He's work Christmas Day, New Year's Day, Sundays, he's worked every holiday until twelve at night. They even his company even built him a little shack inside the office because he was working so much. Obviously they didn't complain. They just come at him more. That's some serious dedication, exactly right. And that he works with me now, and he does. He probably works, you know, I mean eight hundred and twenty five, and he works some nights, but the most important thing is that he's able to provide for his family now and provide even better than before for a special need sister. So so sweet. Yeah, yeah, that's actually what of uplifts me, is being able to give people the freedom it is to care for themselves or end for everybody they love. Well, that's good. That's such a like selfless reason to do that. I mean there's no little part of you, though, to that is like L I do this because I also want to do x or whatever. But we obviously that's a very great reason, right. It should always be at your core. There's gonna be a little part of you that's like and I want to do x. We all have aspirations, we have goals, right, I mean, I'm human just like everybody else. I embrace the ideas that I want to have this. I want to have a house in the like I want to have that car. Why not, you know, if it makes you happy. Yeah, sure, it's the little things. You should definitely give yourself little winds. You know, maybe sometimes go and and get yourself that...

...coffee that you want and, you know, because you just satisfy yourself and you maintain yourself as as a positive mindset and don't restrict yourself from happiness, I think it's going to lead to your bigger winds coming faster and easier than before. Yeah, well, this is amazing. Thank you again. Like I said, any last words. Don't drink and drive. You might spill your drink. That just please. If you're interested in commercial real estate, we do have a counseling or not counseling, but actually kind of a phase we do with with folks who willing to learn commercial real estate. We coach them through the learning process, and so please check us out. Our website is wwwcan more investmentscom and or just give us a shout, you know, any time, and we're on social media as well. Send more investments. Look US up. Awesome, and I'll make sure to tag it on the on the interview as well in case anybody's interested in reaching out to you. thankscellent. All right. Well, thank you so much. Thanks, really good excitement the story. I really appreciate it and we're welcome. Hopefully we can do a recap in a little while and see where you're at them. All Right, thanks for tuning in to empowerment and all that podcast with your host. Read Aboutista. Want to help me grow the listener tribe. Make sure to subscribe to this podcast and follow us on instagram and facebook. Under empowerment and all that, and remember, keep it positive or don't keep it at all.

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