Listen "CP5: Moving From Wholesaling and Hard Money to Passive Income"
Episode Synopsis
GUEST BIO
Steve is a real estate professional with 8 years of industry experience in two states. He has served in various roles in real estate, including serving as a licensed loan officer specializing in short term funding, as wholesaler identifying, acquiring and marketing distressed property, as a licensed Realtor for residential property and actively as an InterNACHI certified home inspector having inspected over $150M worth of residential and commercial real estate. He currently owns long and short-term multifamily rentals in 4 states including 52 units in a JV with Tri-City Equity Group in Michigan and 48 units as a GP in Texas.
HIGHLIGHTS OF THE EPISODE
[01:33] How did Steve started his journey earning passive cash flow
[03:19] Deciding the path for passive income
[05:51] Why building passive cash flow
[08:32] Actions to take initially
[11:07] Cash flow goal
[13:19] Duplex as the learning experience
[16:25] Overcoming challenges
[18:46] Advice to give to your 20 year old self
[21:08] Overcoming Fear
[23:28] Best book to recommend
[30:33] Where to Invest Next
[30:47] Greatest failure
[32:22] Advice to give to listeners
[34:48] Separates successful investors to those who failed
33:35 Reaching out to the guest
BOOKS MENTIONED IN THIS SHOW
The Bible
Rich Dad Poor Dad by Robert Kiyosaki
The Strangest Secret by Earl Nightingale
NOTABLE QUOTES (KEY LESSONS):
“Anytime you’re providing value, that’s the only time you are able to earn. To provide value for somebody else”
“You don’t need to have cash, you don’t need to have a couple of thousand dollars sitting on your bank account for you to get started in Real Estate. But you do need to take action, you do need to move beyond the fear of having no money. You do need to move beyond that limitation”
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CONNECTING WITH THE GUEST
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