Manage episode 237623787 series 2516289
Most successful real estate investors and entrepreneurs will tell you that their journey included a lot of challenges and obstacles. What mindset can help you get through them? How can you raise money for your very first deal? Why is real estate just a tool to a greater purpose?
On this episode, I’m joined by the “real estate dingo”, and successful investor Engelo Rumora who shares his insights on what it took to build an investing and property empire from the ground up.
Do deals with your own cash. Prove that you can do them, and before you know it you’ll have people throwing money at you. -Engelo Rumora
Three Things We Learned
The keys to successful investing
You don’t have to be the smartest, most educated, or richest person to succeed. What truly sets people apart is work ethic and the ability to get up after failing. Every successful person has to fail before they succeed.
How to get capital for your first deals
Before you start investing, save between $50k to $100k of your own money. It gives you confidence and allows you to start ahead in the game.
Why money isn’t the ultimate purpose of entrepreneurship
Real estate is the ultimate tool that gets us to our purpose. The money we make from it is not the purpose. The true journey is finding ways to use that money to make a difference.
When it comes to unlocking our full potential and tapping into our purpose, real estate is the ultimate tool. While it begins and ends with money, the true process of discovery is how to use that money to do something meaningful. Once you are clear on that, you’ll realize how easy money is to come by, and how easily you can access it so that you can fuel your biggest dreams.