We were lucky to catch up with Mark and Reauna Lopez recently and have shared our conversation below.
Mark and Reauna, appreciate you joining us today. How do you think about vacations as a business owner? Do you take them and if so, how? If you don’t, why not?
For us, vacations are a necessity — they allow for a recharge and reset, which often brings us home feeling motivated and energized to tackle our work projects. It’s also a good reminder of why we work so hard in the first place. These memories that we create with each other and with our kids will always be remembered.
It’s really easy to get handcuffed to work or to charge up another hill, but it’s so important to remember our “why” of becoming business owners and working for ourselves. For us, it’s freedom. Freedom to write the schedule. Freedom to spend more time as a family and to create the life we dreamed of.
It’s always difficult to get away initially…which is why we book vacations months in advance so that when the time comes, we feel almost “forced” to go. 90% of the time, we feel like we shouldn’t go because there are so many pending items to take care of…but we just commit, and go. And shortly into our vaycay, we remember why we work. There’s something about being in a new place that produces gratitude for what you have. Being in a new place can also spark new ideas and allows reflection on what’s working, and maybe what needs to change. Sometimes you need to step out of your norm, and allow for new experiences and places to generate new concepts and ideas.
Our advice, put the vacation on the schedule. Get out of town. Grab some local street food. Buy a fridge magnet or shot glass. And try to be mindful and grateful for what you already have.
Always always always take the vacation!
Mark and Reauna, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
As a husband and wife team, we started Five Walnut Construction in 2018. Mark knew he needed to get out of his corporate job, and start his own thing, which would allow him to be fully in control of the ethics and values of how the business is run. He made the jump and never looked back. Reauna joined him 1 year later when it seemed the business was stable enough to replace her salary and keep building.
We created Five Walnut with the intention of building a construction company that is honest, reliable, personable, accessible, and completely legit at building. Contractors have such a bad reputation. It seemed like all of our friends and family had horror stories of poor craftsmanship and dishonest contractors. We strive to be everything we would want in a contractor for our own home, and a company that our friends, family, and clients would be proud to refer.
We started out specializing in full home renovations and commercial projects. We were known for staying on budget from the original estimate, and not going back to the client with up charges. We understood that our clients are making a huge investment with their renovation, and we never wanted to surprise them with additional costs in the middle of the construction process.
More recently, we have also transitioned into flips and real estate investing. We are taking our passion for building and pairing it with our passion for real estate. We purchase distressed homes and bring them back to life with modern style and functionality, providing homes for families whether they’re looking for their first or forever home.
We do not take shortcuts, and we use quality materials…we take building very seriously, and we want every structure to be solid, well-built, and beautiful.
More than 80% of our business is referral based, and that means so much to us. If your readers know of any distressed homes on their block that need renovating, or a kitchen that needs to be updated/opened, let’s talk!
What’s a lesson you had to unlearn and what’s the backstory?
Something we both had to unlearn is that owning a business or being wealthy is for “those other people”, not for us. We both grew up with the idea that you go to school, get a job, and work for a large company until retirement. That was the dream…until we learned there is a whole other world of being an entrepreneur that is so much more rewarding and flexible…and the sky is the limit if you allow yourself to dream big enough.
Neither of us had any intention of starting our own business. In our previous mindset, owning a business was not for us. That was for the wealthy and private school kids who had rich parents — at least that’s what we thought. We had to unlearn that way of thinking, and surround ourselves with other people who had a similar drive and desire to have success in their own entrepreneurial journey. Mentorship programs have been invaluable to our shifting thoughts of what is possible.
We want to tell you that you do not need to have all the answers to chase your dream, or start your own business. We were never the smartest in our class…but we are willing to grind, work hard, and find the answers (or at the least the people that have the answers). Learn as you go, and know that making mistakes is part of the growing process. If you are not making mistakes and failing, you are not pushing yourself enough.
Being a business owner is not for “those people,” it’s for any of us if we believe it!
Can you talk to us about how your funded your business?
An unpopular opinion for some, but Mark pulled out his 401k to get us by while he got Five Walnut Construction going. Reauna’s salary alone couldn’t support their family of 5, so tapping into the 401k funds is what allowed Mark to leave his job. Taking the risk against the 401k has established an avenue for us that has generated much more for us financially than had that money continue sitting in a fund that was going who knows where. Mark’s mom lost a large amount of her retirement just as she was set to retire in 2008, so he knew we couldn’t solely rely on that as our retirement plan. We pulled out half of the money at first, and established Five Walnut. Once we realized what was possible if we invested the money ourselves, we pulled out the remaining portion.
Contact Info:
- Website: www.fivewalnut.com
- Instagram: @fivewalnutconstruction
- Other: @marklopezbuilds (IG)
Image Credits
Charlotte Lea Photography Weller Photography Todd Tyler Heather KW Styles