Real Estate Investing School Podcast - Episode 233: Gage Heward: Millionaire at 22 Through Real Estate

Release Date: February 3, 2025

In Episode 233 of the Real Estate Investing School Podcast, host Joe Jensen welcomes Gage Heward, a remarkable 26-year-old who achieved millionaire status by the age of 22 through strategic real estate investments. Gage not only owns 23 rental properties but also hosts the “Proximity is Power” podcast and runs Mamba Marketing. Additionally, he has invested over $100,000 in personal development and has an impressive reading list of over 650 books since high school.

1. Early Life and Building a Strong Foundation

Gage Heward hails from Utah, where he was born and raised in a household that valued hard work and discipline over inherited wealth. Reflecting on his upbringing, Gage shares:

“We had to earn everything extra we ever got. And so it taught us to like if we wanted something we had to make a plan to, to get it.” (02:03)

From a young age, Gage was involved in sales alongside his father, selling discount coupon cards door-to-door. This early exposure instilled in him a robust work ethic and discipline. Additionally, his parents set high academic standards, requiring straight A’s and even offering financial incentives to maintain them. Gage credits these formative years for shaping his drive and determination.

2. Exposure to Success and the Power of Proximity

Despite his father’s success, Gage didn’t fully partake in the affluent lifestyle, which fueled his ambition to achieve financial independence. A pivotal moment was observing a wealthy friend’s lifestyle, filled with luxury and philanthropy. This exposure ignited Gage’s desire to accumulate wealth not just for luxury but to make a meaningful impact.

Gage’s father emphasized the importance of personal development and surrounding oneself with successful individuals:

“Proximity is power, like, who you spend time with, you become like.” (05:20)

He encouraged Gage to read influential self-help books, offering $10 for each book completed. This investment in personal growth set Gage on a path of continuous learning and self-improvement.

3. The Crucial Role of Sales Skills

A significant turning point in Gage’s journey was stepping into the world of sales. Initially resistant to door-to-door sales due to his negative past experiences, Gage’s father persuaded him by highlighting two key benefits: financial gains and the invaluable sales skills acquired through the process.

“Sales will make you better in any field you go into.” (09:00)

Gage recounts his first summer in sales, where he faced numerous rejections and challenges. Over time, his ability to read people and communicate effectively improved, transforming his sales approach from a mere transactional interaction to a value-driven service.

4. Real Estate Strategy and Scaling Investments

Leveraging the sales skills and financial gains from his commissions, Gage transitioned into real estate. His strategy, influenced by mentor Chandler Smith, focuses on acquiring properties with strong cash-on-cash returns. Gage prefers the buy-and-hold approach, primarily investing in Utah but also expanding to states like Florida, Oklahoma, Tennessee, and North Carolina through trusted connections and property managers.

“Proximity is power, right? Like if you have proximity with people that have properties in other states, it's way easier to pull the trigger and feel confident on the market.” (20:00)

Gage emphasizes the importance of investing in markets where you have connections, ensuring reliable property management and reducing risks associated with out-of-state investments.

5. Overcoming Challenges: The First Real Estate Deal

Gage’s inaugural real estate investment was a duplex in Provo, Utah. Despite thorough number-crunching that indicated a promising cash flow, he encountered severe tenant issues upon acquisition. The tenants had vacated without notice, leaving the property in disarray. Faced with this unexpected challenge, Gage took decisive action:

“I ended up pulling the trigger. And the first month of owning the property... I was just buying the property, like, closed on it a week, week and a half ago.” (28:00)

With assistance from experienced friends and mentors, he renovated the property, addressing the extensive damage and ultimately turning it into a profitable asset. This experience underscored the importance of thorough tenant screening and proactive property management.

6. Tenant Screening and Property Management Best Practices

Learning from his initial setbacks, Gage adopted rigorous tenant screening processes to safeguard his investments. He now employs tools like Zillow’s rent application and Mysmartmove.com to conduct comprehensive background checks, ensuring tenants have reliable income and a favorable history.

“If you're not screening, like, you just get less responsible people most likely living in the house.” (39:00)

Gage advises new investors to prioritize tenant screening to avoid costly evictions and property damage, highlighting it as one of the most critical steps in successful real estate investing.

7. Investing in Personal Development

Gage attributes a significant portion of his success to his commitment to personal development. With $85,000 of his personal development budget allocated to seminars and courses by Tony Robbins, he believes that investing in oneself yields the highest returns.

“The best investment you can make is in yourself and it's to get proximity, whether in person or virtually with people that are doing things at a higher level.” (44:00)

He emphasizes the value of continuous learning through books, seminars, and mentorship, asserting that personal growth enhances one’s ability to generate income and make informed investment decisions.

8. Final Insights and Advice

In the concluding segment, Gage shares his wisdom for aspiring investors:

• Be Intentional with Your Time: Surround yourself with positive influences to foster growth and success.

  “Be intentional with who you spend your time with, because it's either power or poison.” (51:57)

• Embrace Learning Opportunities: Invest in personal development and seek knowledge from reputable sources.

• Strategize and Plan: Thoroughly analyze potential investments and always have contingency plans.

Gage also highlights the importance of choosing reliable mentors and maintaining professional standards in all business dealings.

Conclusion

Gage Heward’s journey from a disciplined, hardworking youth to a successful real estate investor by 22 is a testament to the power of sales skills, strategic investing, and relentless personal development. His experiences provide valuable lessons for both novice and seasoned investors, emphasizing the importance of proximity to success, thorough tenant screening, and continuous self-improvement.

For those looking to follow in Gage’s footsteps, his multifaceted approach—combining sales expertise, strategic real estate investments, and a strong commitment to personal growth—offers a blueprint for achieving financial independence and making a lasting impact through real estate.

Notable Quotes:

• Gage Heward (02:03): “We had to earn everything extra we ever got. And so it taught us to like if we wanted something we had to make a plan to, to get it.”

• Gage Heward (05:20): “Proximity is power, like, who you spend time with, you become like.”

• Gage Heward (09:00): “Sales will make you better in any field you go into.”

• Gage Heward (20:00): “Proximity is power, right? Like if you have proximity with people that have properties in other states, it's way easier to pull the trigger and feel confident on the market.”

• Gage Heward (28:00): “I ended up pulling the trigger. And the first month of owning the property... I was just buying the property, like, closed on it a week, week and a half ago.”

• Gage Heward (39:00): “If you're not screening, like, you just get less responsible people most likely living in the house.”

• Gage Heward (44:00): “The best investment you can make is in yourself and it's to get proximity, whether in person or virtually with people that are doing things at a higher level.”

• Gage Heward (51:57): “Be intentional with who you spend your time with, because it's either power or poison.”

Follow Gage Heward on Instagram, TikTok, and YouTube @gageheward.g for more insights and updates on his real estate journey.