In today’s episode Nicholas interviews Marco Santarelli a real estate expert. Marco shares with us the top tips to create opportunities for passive income investments. Real estate is an industry that has created more millionaires than anywhere else. Marco talked about how to get the best deals through your network, your investments, and education failures.
Timestamped Show Notes:
[ 00:50 ] 80%-90% Wealth [ 03:07 ] Investments [ 05:35 ] The Start of Everything [ 11:53 ] Education Fail [ 15:17 ] Risks [ 16:51 ] Turnkey Rentals [ 22:50 ] Current Markets [ 29:25 ] Low vs High Risk [ 39:49 ] Typical Real Estate AvatarTakeaways:
There's always deals out there. It's really about your network. The people you know and the more people you get to know and the more deals you do, the more deals you're gonna see and find. So there's no shortage of deals. And if you have good deals, money will find you. You don't have to chase and find money for your deals. The question isn’t “when should I start,” the question is “when am I as an investor ready to start?” It really is about you. That's why the first investment you should make is in yourself. Personal development is the number one best investment you can make, and that's really the first investment you should make. Start with yourself. From there you can make the step into whatever it may be. There's no such thing as a bad deal. There's really just bad investors, not bad investments because you can take a deal whether good or bad, that may be subjective and give it to one person and they can totally screw it up and lose money. You give that exact same deal to another person who knows what they're doing. They've had experience in renovating or flipping. They know who to contact and they can turn that deal into a good deal. It's more about you, the investor, not so much the investment. There's a lot of educated failures out there, for lack of a better term. There's a lot of educated people that really just don't succeed at anything. The key to success is really one thing. It comes down to execution. There's a lot of people that just don't pull the trigger. There's a lot of people spend a lot of time educating themselves and getting ready and getting ready to get ready and they spend a lot of time on books and podcasts and going to seminars and they're just perpetual info junkies. But once you have the knowledge, you don't need to know everything, but you have enough knowledge to have some level of confidence. The next step is just to put a strategy together and once you have that, now it comes down to execution. It. Once you put the rubber on the road and you start taking action, that's when your life will change. If you don't take action, you're going to be where you are forever. So that's a key point. If you get nothing else out of this, that's the one thing you got to walk away with 100 percent. So in terms of, you know, how to get started or where to get started, it, I'm not sure if those are really one and the same here. It comes down to what your strategy is.
Resources:
http://www.passiverealestateinvesting.com http://www.noradarealestate.com