One rental property could give you a little cash flow, but if you want to reach financial freedom, quit your nine-to-five, and even retire early, you’ll need to scale your real estate portfolio. This might seem like a daunting task, but in today’s episode, we’ll show you how to go from a novice investor to a wealth-building entrepreneur!
Welcome back to the Real Estate Rookie podcast! Off the back of their latest book, Scaling Smart, Kathy and Rich Fettke join the show to share their best secrets for building a sustainable real estate business. Successful investors manage their portfolios like full-fledged businesses, so whether you’re still searching for your first deal or struggling to scale up, we’ll show you all of the systems, processes, teams, and tools you should implement now to prepare for the future.
In this episode, you’ll learn the crucial difference between growing and scaling your portfolio, as well as the number one mistake rookies make when attempting to scale. You’ll also hear about some creative ways to fund more deals, and, finally, the keys to a recession-proof investing strategy!
In This Episode We Cover:
Building a real estate portfolio that supports your long-term investing goals
The number one mistake rookies make when scaling (and how to avoid it!)
The difference between growing and scaling your real estate business
Key systems, processes, and teams to implement in your business today
How to set up your business to survive an economic downturn
When to make the FIRST hire for your business (and who it should be!)
Creative strategies to help you fund more real estate deals
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Tony's BiggerPokckets Profile
Join BiggerPockets for FREE
On the Market
Emergency Preparedness Plan
Buy the Book “Good to Great”
Buy Kathy & Rich’s New Book “Scaling Smart”
Find Investor-Friendly Lenders
See Ashley and Tony at BPCON2024 in Cancun!
How to Build a Real Estate Portfolio & Quickly Scale Your Investments
Connect with Kathy
Connect with Rich
(00:00) Intro
(01:15) Growing vs. Scaling
(03:35) First Steps to Scaling Up
(11:18) Common Financing Challenges
(17:27) Building Systems & Teams
(27:01) Hiring the Right People
(30:26) How to Survive a Downturn
(37:36) Connect with the Fettkes!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-458
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