Our guest today is Maurice Philogene, a real estate investor and coach, public servant, federal agent, and philanthropist. In this episode, we talk about having the right mindset and systems, the 5 types of freedom, and why you need systematic patience if you want to be successful in investing. Learn more about Maurice and his journey at reiclarity.com!
“If we're not growing or expanding as people, then we're contracting.”
Maurice achieved solid financial success even before he started real estate investing. He traveled to 96 countries, served as a police officer, and had a consulting career.
The 2 main reasons why he started real estate investing were the challenge and the passive income. Maurice started investing when he was 23 and over the years he built a portfolio of 35 single-family homes.
According to Maurice, the most important thing in real estate investing is systematic patience. Many people are not patient enough to wait 10-12 years to be able to live off of their passive income.
“I would rather make 5000 bucks a month passively than make 300 grand a year non passively and have to be in an office”
Maurice talks about the 5 types of freedom. He says if we can focus on one or more of them, we tend to be happier as people.
The 5 types of freedom:
These freedoms can mean different things to different people and the way of achieving them varies.
“I want to be the first person in my family who leaves a significant legacy. So I've moved into the realm of how I can be the best philanthropist that I can possibly be.”
Maurice has a 4-pillar framework that he uses in real estate investing.
“Mentors accelerate you”
At the end of the episode, Maurice picks 2 action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build a Team” and “Establish your Mentors.”
Building a team was very important for Maurice because he could only begin multifamily investing by having a great partner and a reliable team. He took the leap and now has 9 large multifamily complexes in his portfolio.
According to Maurice, he has a mentor for everything. He recommends investing in yourself because mentors accelerate you. For people who don’t have the ability to financially invest in a mentor, books and podcasts can be a good starting point.
Mentioned in the show:
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Until the next time, We truly appreciate you listening.
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