EP 82: Real Estate Multi-Millionaire at 33, Taylor Welch, Author/Speaker/Real Estate Investor
This week on The Millionaire Choice Podcast, Tony talks with Taylor Welch, founder of Wealth Cap Holdings and Welch Commercial Capital. Tony and Taylor discuss financial education, generational wealth, and why Taylor claims anyone could be a millionaire within the span of ten years.
About Taylor Welch
In 2001, Taylor attended his first “business seminar.” He was 12 years old and was, in his own words, “forced to attend” by his father. Taylor didn’t want to be an entrepreneur or start a business early on — his dream? To work at a church; he wanted to be a pastor. “That dream came true,” he says, “and for the first time I experienced what so many people experience later on in life: the thing you always wanted, after you get it, you don’t want it.”
Today, Taylor is a real estate investor & business consultant. His companies have serviced over 50,000 individual small businesses in the last 5 years. He is a dynamic & energetic speaker who not only enjoys playing the game of business but teaching it also.
Learn more about Taylor Welch, https://linktr.ee/taylorawelch
Take advantage of Complimentary Life and Money Mentor Session with Tony or Download FREE eBooks.
Welcome back to the millionaire choice show. Today, we're gonna have somebody I met by chance. You never know who you're gonna run into in different places. And I decided to have lunch at Chipotle one day because my other lunch appointment canceled and I ran into Taylor Welch. You all are in for a real treat today because Taylor is the founder of Wealth Cap Holdings and Welch Commercial Capital. He's a young millionaire, and he's got a lot to share with you all, with his story and everything he's got going on, especially in these crazy financial times. Taylor, welcome to the show.
Taylor Welch (00:31):
Thanks for having me. And I'm glad that, Providence or God, however people wanna call it, put us together that day.
It was fun listening to you and your dad. I'm kind of jealous a little bit, honestly, because I don't remember having any financial discussions with my dad, except for maybe where the hundred dollars bill got lost, when we went out to the movies and to eat one night and we had to cancel the movies because, mysteriously the hundred dollars they got outta the ATM disappeared. But, the day I ran into you, you and your dad were sitting there talking about some of the financial stuff you guys are doing and estate market.
Taylor Welch (01:04):
People mix up their attribution and founder stories all the time. I sometimes see people say, "I'm self-made this self-made that," and I understand what they're trying to get at, but everybody has shoulders to stand on, and I got lucky and blessed because my parents raised me in a way that was conducive to me, moving forward in life in the system, whatever you wanna call it. I remember my dad, when I was 11 years old, he was the VP of sales at Allstate insurance. He would force me to skip school, to go with him to these big business simulcasts. John Maxwell, simulcast, you'd go into this church. It would put the projection on the screen. These are the most boring things. I was begging to go to school and you know it's boring when I'm like, "I would much rather go to school than go to these things," but he would say, "if you come with me, we'll get Chick-fil-A it a father-son-day."
Taylor Welch (02:06):
And I would sit through these simulcasts all day. And, I would listen to Patrick Lindsey and John Maxwell and these leaders and Titans that now everybody listens to and reads. But back then, I had no idea. When you're 11, you're not thinking about these things. People ask me all the time, like, "how did you get going so fast?" Because it is not normal; The things that I've been able to achieve in the time that I've been able to achieve them. And, I think that there's some muscle memory that was given to me by my dad when I was 11-14. And, once you get into the business world, you got a lot of subconscious strategy and muscle memory going on. For me- as a father of a daughter, and I'm gonna have a son here pretty hopefully soon- one of my highest calling is to make sure that my children are raised up with the same advantage and opportunity to steward people in the future. A long tangent there, but I'm very grateful for my family. Very grateful.
I love that part of your story. Mine's a little bit different. Both my parents came from broken homes, no fathers in their lives, and just a lot of broken stuff. But, they gave me good stability, and I think what you're talking about is a foundation. You got the bulk of your foundation, your success foundation, pretty early, whether you knew it or not, it was being built for you, which I think is awesome. My parents gave me more of a work ethic. I saw my parents working a lot, and they took me to work. It's one of the things I wish I had a position, for many years where my kids could go to work with me on the job. My mom would manage convenience stores. So, she would take advantage of the free labor and use me to restock the shelves and you name it. I was doing it. My dad was a carpenter. So, now you grew up, but it sounds like your dad was- your parents, or your house- Were you guys more middle class growing up?
Taylor Welch (03:56):
We were. We never really wanted for anything. But, we had a lot of advantages, but my family went bankrupt in the Great Recession. So, that was the first time that I even knew what money was. As a kid, I just though money was always in the bank; when we needed it, we had it. But 2008, 2009, I was in college at this point. It was such a horrible time for so many people, not even in just America, but the world. That was the first time I was like, "yo, I don't know anything really about money finance. My dad taught me how to budget, but they didn't teach me how to control, the economic situation of my life.
Taylor Welch (04:45):
They taught me how to count money, but they didn't necessarily teach me how to become valuable and earn more money. They didn't teach me how money is created or, investments." And so, we went through that period of my life and it started putting a fire in me that I needed to study. Life teaches you two things. When you go through good times, you typically develop advantages and you develop different levels of comfort. But when you go through rough times, you develop resilience. I think most of my life, I was definitely given advantages in terms of education, leadership training, a relative level of opportunity to do what I wanted to do. But, in 2008, I started developing resilience for the first time, because life got really hard. So, that's like a different tangent that we can go down. But, as the personality that I am, I have studied every single successful person that I can find that lost everything in 2008, cuz I don't wanna go through that. Unfortunately, a lot of people go through situations and they get frustrated and they wanna know why it happened to them without flipping it around and looking for attribution and asking the question, "what did I do to allow this and how do I prevent it in the future?"
That's a lot of great wisdom. The way I say it is that everything's fine until the party stops, no one ever expects the party to end. Like you said, the Great Recession in that 2008, 2009 housing crisis that we saw happen, where the banks all got bailed out because, "that's the way should do it." No, no it's not. But, that's an interesting perspective. And, I do think that's true; if you don't learn from your mistakes, you're gonna repeat 'em or as you said, you learned from other people's mistakes. Cause you didn't wanna go through that.
Taylor Welch (06:32):
A hundred percent. Yep.
Now, when you went through that, as you started learning about finances, it sounded like your dad and your family gave you a lot of good, character, culture, through the simulcast and things that you discussed. They didn't sound like they gave you a lot of financial standing or financial wisdom. You had to pick that up on your own.
Taylor Welch (06:53):