My Journey: Starting My First Fund with NO Experience

“I want to reflect and tell you all about my journey and some of the key things I think have helped me get to where I am now and how they can get you to where you want to go.”

“Bridger, how did you start your first fund without a track record?

“How did you do it with out working on Wall Street or getting an MBA?”

“How did you raise money and pitch investors?”

These are just a few of the questions a get all the time from people in my courses and honestly just my life in general.

It’s crazy to think that I started with so little and now have grown to doing hundreds of deals…

My network is continually expanding…

I seem to have more opportunities…

And I honestly could have never dreamed of where I am now from just a few short years of hustle and hard work.

I want to reflect and tell you all about my journey and some of the key things I think have helped me get to where I am now and how they can get you to where you want to go.

My Journey

I grew up in a simple house and having an entrepreneur as a father he would make a lot of money sometimes and then not make a lot of money other times.

My mom would always tell us that we needed to make sure that we saved our money so we could pay for college, cars, and other things.

And so I learned good money management skills from my parents and through my childhood.

But growing up I always wanted to be like my dad and have my own businesses.

When I got to college I launched 4 businesses in the first 2 years.

I did chinese tutoring, I wholesaled real estate, I sold oils, and I did online marketing.

Anything I could get my hands on, I did!

Finally my dad sat me down and said,

“Bridger, I love the ambition but you’re running around like a chicken with your head cut off.”

He then proceeded to tell me that he was going to set up a meeting for me to go and see his business partner.

So I went.

I drove up to one of the most beautiful houses I’ve ever seen….

My dad’s business partner answered the door and invited me into his living room where he asked me,

“Bridger why are you here, and what do you want to do?”

I told him about my successful and unsuccessful business ventures but ultimately told him I was lost…

How do I go form where I am now to where you are?

He leaned in and told me how he used to be a lot like me and had many of the same problems that I did until he found out the secret of the wealthy…

He said that these rich families would send there kids to ivy league schools where they hoped they could land a job at a big firm, private equity fund, or something similar.

Why?

Because that’s where they will make a lot of money and learn the most.

I said, “Hold on, slow down…. What’s a Fund?

He explained what a fund was and that he and my dad had started a Real Estate Fund together.

Now living in such a nice home I expected this guy was making way more than my dad…

Then he told me they made about the same and my mind was blown!

I drove straight home and confronted my dad.

He laughed and said that he likes to invest rather than spend his money.

He then proceeded to walk me through the different parts of their fund and how it worked.

The fire was lit and I was ready…

But I didn’t have any money!

I ended up getting an offer from a nice Private Equity firm for six figures and stock options.

But I just couldn’t get myself to take it because I knew deep down inside that I didn’t want to be burnt out in 10 years like other people I had talked to…

I also wanted to spend time with my wife and kids.

I have found that a lot of times in life that it is worse to take the easy route in the long run. Don’t be afraid of growth.

So after some soul searching and research I decided that if other people could do it without taking the long route, then I could too.

And I did…

I worked hard and eventually found a fund model that I thought would work.

I went to my dad and he was excited except that he said he wouldn’t help me until I did something for him.

And that thing he wanted me to do was tough…

He wanted me to read two thick fund documents called the LPA and PPM at least 15 times…

Well I was in-between semesters so I took him up on the challenge.

It was extremely hard to understand at first but I finally got through them each 15 times.

I came back to my dad and asked him if he wanted to be the first investor…

He told me NO.

He wanted me to raise the money on my own.

This terrified me, but I wouldn’t give up.

I called everyone I could think of with money and raised a whopping $47K.

But with that I got over a 60% return and was able to convince more people of my abilities and raise more money on my second fund.

Today that fund has deployed millions of dollars into investments and I couldn’t be more thrilled!

Though through all of this there were a few key important things I learned…

Conclusion

Through my short journey, which is far from over, I have learned some valuable things.

#1 is that you don’t need it all to have what you want.

You can achieve so much with a little determination and hard work.

Networking and putting your shoulder to the wheel are both free.

#2 is that you can know anything you want to.

With today’s internet, blogs, YouTube, podcasts, and more, you can learn anything.

People love to share their knowledge and the information is just waiting there for you if you look for it.

#3 is that free handouts won’t make you successful.

There were countless times that my father could have held my hand and walked me through every detail…

But he didn’t.

And because he didn’t I am now farther along than a lot of my peers.

I had to grind but it was well worth it because instead of waiting 10 years to realize my goal it has taken less than two.

There are so many other things that I could share but I’m running long.

I want others to experience what I have.

That’s why I started my course, YouTube channel, podcast, and blog.

I’m so grateful for what I know and I’m here to help!

Follow me and let’s connect!

Have a great day and remember that the thing you want is attainable…

So go and get it.

Take Care,

Bridger Pennington

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DISCLAIMER: This content is for educational and informational purposes only. It is not to be taken as tax, financial, or legal advice. You should always consult a legal professional before taking action. Furthermore, this is not a recommendation to buy or sell any security. The content is solely just the opinion of the authors.


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