Our guest today is David Hays, a well-known financial advisor and real estate investor in Bloomington, Indiana. In this episode, we talk about diversifying your local portfolio, finding and grabbing opportunities, and the different types of investments to get into real estate. Tune in if you’re an investor wanting to become successful as David shares all the ups and downs in his journey and how he reached success.
Learn more about David and his journey at reiclarity.com!
“There are only a few things you can do with money - you can spend it, you can save it, or you can share it.”
David grew up in Bloomington, Indiana and his family didn’t have much money. David started learning about money and his mindset changed towards it. He got into finance and became a financial advisor.
David was 24 years old when he started real estate investing. His first deal was a nine-acre farm which he refinanced and bought his first duplex.
In the beginning, David was looking for equity, but now he’s more focused on cash-flow generating properties. His portfolio is very diverse. He has student housing, self-storage, retail, and commercial investments.
“It's all about people, it's all about where the people are going.”
David talks about some ways to get into real estate investing. One of them is investing in a REIT (Real Estate Investment Trust). REITs are good because there is no income tax on them and you can have a more consistent and safe income stream. Syndication is also a good way to get into bigger deals.
David explains that there are a lot of different opportunities that fit different people. According to him, his success is due to seeing opportunities and not being afraid to take the leap. He focuses on the people and where they would like to live.
“Having clarity and focus is really important. It doesn't mean you can't venture off here and there, but really maintain a focus is important.”
At the end of the episode, David picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Know Your Strategy” and “Forecast Your Future” in the “Clarity” pillar.
Maintaining focus and getting clarity are very important for David. As entrepreneurs, we tend to lose focus, so it’s crucial to establish our strategy and stick to it. The most important is knowing what you want and knowing who you want to be involved with.
Lastly, David explains that finding the money is never a problem for him. Find the deal first, and if you’re dedicated, you will find the money.
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Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
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Until the next time, We truly appreciate you listening.
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