We’re excited to introduce you to the always interesting and insightful McKlane Bobbitt. We hope you’ll enjoy our conversation with McKlane below.

McKlane, looking forward to hearing all of your stories today. Risking taking is a huge part of most people’s story but too often society overlooks those risks and only focuses on where you are today. Can you talk to us about a risk you’ve taken – it could be a big risk or a small one – but walk us through the backstory.

A risk… I would say the life-changing risk that comes to mind for me was when I decided to leave my corporate sales job in May 2020. At the time I had already planned on leaving my corporate job a few months before and taking the proper preparation‘s to make my transition as smooth as possible for my wife and I. I don’t think I have to remind anyone but just in case anyone forgot some thing called COVID-19 had reared it’s nasty head at the world. For me I always knew that I would leave my corporate job at some point in my career. Although I did not think it would be in the middle of a pandemic… I knew a lot of friends who are seasoned Real estate investors that got wiped out due to the unexpected turn of events going on in the world. So for my wife and I it was hard for us to really say with confidence to make the leap of faith and go full-time into my business. After a few conversations with my wife, my grandpa who I consider a mentor, and the big man upstairs. I set my emancipation date For May 15, 2020. I remember calling my manager that day and telling him that it was time that I either jump or live with the regret Of never taking that leap. Of course it has not always been sunshine and rainbows but we have been blessed beyond measure and had opportunities that would’ve never presented themselves had I not decided to take the risk of leaving my job during such an uncertain time.

As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your background and context?

So obviously my name is McKlane Bobbitt my sister and I are first generation Americans. We are also the first in our family to go to college and complete a four-year degree.

To make the story short I will try to summarize as best as I can. Real estate has always been on my mind since I read Rich dad Poor dad by Robert Kioysaki When I was a junior in high school. But at the time I wanted to be a physician assistant and eventually acquire enough rentals to retire and quit by the time I was 30. Well I got to my senior year in college.. here I was A burnt out premed student who just found out that they did not get into PA school for next semester… did I mention I was also engaged?? So here I was sitting in ecology class and looking up how to make money in Real estate. I would say that was when the bug was planted a few months went by I got married, got a job in Dallas at a place that I hated and was pretty much living paycheck to paycheck. In March 2018 Here I was a newly married, new college graduate working a job in debt collection making $7.50 an hour.. needless to say our main dish for dinner was always chicken and rice haha!

Eventually I got sick enough of living paycheck to paycheck and barely paying down our debt at the time. And I found various ways to make money in real estate with little to no money. I was off to the races… or so I thought.. it took me seven months to complete my first real estate deal as an investor. My wife thought I was dumb for going to look at houses every weekend, not watching movies with her and spending all my time running the business. Once I closed my first deal the rest was history.

As for what the operation looks like now and the day-to-day in my business we focus on helping property owners that have problem houses or land. This can vary from delinquent taxes, houses that just need some love, or my personal favorite messy title issues where other investors cannot perform or title companies could not insure the property Because there were so many issues with the ownership. What we really specialize in is properties that may have owners that have since passed long before the current owner acquired the property and they may be looking to sell the property but are unable to because they have no idea how to find someone from 50 years ago.
In doing so and clearing this title work we are able to “clean” The ownership issues so the sellers can sell their property that was previously “un-Sellable”.

I would say each day I have a proud moment for that day because in the line of work that we do we might have a situation where you can easily take advantage of someone if you were not honest. Or you can Lead with intention and integrity to do the right thing and one small action we do could potentially change the trajectory of a sellers life and or their families. As my father-in-law reminds me there is never a bad time to do the right thing.

Can you open up about how you funded your business?

Getting the start of capital for my business in the beginning was a little challenging. Between the bills and adjusting to married life on top of working out of town there was not a A lot of money left over to commit to building this business..I personally did not have any credit cards to use as they were maxed out (did I mention weddings are expensive??) So to gather up some capital after I got off work each day instead of driving an hour home. I would go DoorDash and Uber to help make ends meet and if I hit my goal for that week I would put any excess funds into a “ marketing fund”. This fund would pay for any software or marketing material that I needed to go find my first deal.

Can you talk to us about how your side-hustle turned into something more.

For me real estate investing was not my primary career and when I first started the “side hustle” I had just gotten a new job in software sales With a large company.

I would work on the business networking making cold calls during my lunch and after I got off work for that day. I sacrificed a lot of lunches eating alone making calls to the point that most of my colleagues knew not to invite me to lunch unless it was a special occasion. eventually I got consistent on deals that I sourced and was able to get some wind beneath the wings. I would say the turning point for me was when I was passed over for a promotion and the vice president for my sales team said I was not ready for the promotion. This was said even after I had brought in $1.1 million in new business revenue in the prior year (Quota was $520,000). On top of that my wife and I were going through fertility issues and those treatments are not cheap… For me that was a pivotal moment where I knew that I needed to either make this work or sit back and let someone else dictate I trajectory. Eventually I got to where I was making my anal salary in a month and as I was getting ready to leave my corporate job I made my annual salary on one real estate transaction. After that my wife said if that is not a sign for you to leave your job I don’t know what is. Since then we have grown steadily and efficiently to maintain a consistency that I had whenever I was the only employee .

Contact Info:

• Website: www.lonestarequitytx.com
• Instagram: https://www.instagram.com/mcklane.bobbitt/?hl=en
• Facebook: https://m.facebook.com/McKlaneB
• Linkedin: https://www.linkedin.com/in/mcklane-bobbitt-622233138