Key Takeaways Alex Blackwood is the 29-year-old co-founder and CEO of mogul, a real estate investment startup.
He previously worked at Goldman Sachs, making $250,000 a year.
Blackwood says that founding mogul was worth it and that it is more personally rewarding to be a startup founder.
Over three years ago, Alex Blackwood was working 100-hour weeks as a real estate investing associate at Goldman Sachs and making $250,000 a year.
Blackwood left that life behind to pursue mogul, a fractional real estate investment startup he co-founded with fellow Goldman Sachs alum Joey Gumataotao in September 2022. mogul allows users to buy shares in a home and receive the direct benefits of the underlying real estate, including dividends, on a monthly basis. Users pick individual homes and buy shares in those homes, earning rental income. The minimum investment required to start is $250.
Blackwood and his team select top properties, exclusively single-family homes, purchase the property and fractionalize the ownership of the property so that investors can receive monthly dividends in accordance with their level of ownership. There are over 13,000 investors on mogul and $40 million in assets invested through the platform.
Related: She Took Her Business From a $5,000 Investment to Over $1 Million in Revenue — Here Are Her 3 Profit Hacks for Small Business Owners
As co-founder and CEO of mogul, Blackwood, 29, makes about $100,000 a year — while still working 100-hour weeks. Despite the $150,000 pay cut when compared to his Goldman Sachs days, Blackwood says it is more personally rewarding to be a startup founder.
“It’s funny, everyone at the time thought I was the stupidest person they knew,” Blackwood told Entrepreneur. “To be honest with you, I didn’t really think twice about it. I jumped into it. It’s exactly what I wanted to do.”
Alex Blackwood (left) and Joey Gumataotao (right). Credit: mogul
... continue reading