In the second show of our series on giving an overview of our businesses and how we run them, today we are going to take your inside our real estate investing business.
Real estate investing sounds very exciting (and it can be), but it also requires a lot of work and has the risk of losing a significant amount of money if you are not careful. In this episode, we are going to walk through the various criteria that we use to run our business, as well are share some costly mistakes that we have made.
Episode Key Points
- What our favorite “real estate investing” shows are an why
- You should avoid spending $10,000+ on training, especially when you are just starting out
- 5 ways that we make money with buy and hold real estate investing
- How we hired people to help us with this business as we began to grow
- How doing the work yourself can actually cost you money
- Consistency is essential with processes to manage multiple properties
- The key forms that you need as part of being a landlord
- How using standard materials have saved us thousands of dollars when renovating properties
- The tools that we use to help us run our real estate business
- Where you invest and what strategy you use have a big impact on your success
- Why you need to understand your market and potential tenant pool when making decisions
- Being clear on the financials is ESSENTIAL to being successful with real estate investing
- Developing a brand that stands out and helps you get known in your market