Want to invest in real estate but feel like you don’t have everything it takes? You know you need money for a down payment, skills to manage tenants/perform renovations, and time to find the deals in the first place. But what if you only have one of these? Can you still invest in real estate even without the missing pieces? Today, we’re going to show you how to do just that, no matter how much time, money, or real estate experience you’ve got.
We’re walking through three scenarios with three different investors: Dave Meyer (who had no money/experience), Devon Kennard (who had money but no time/experience), and Tyler Madden (who had skills but limited time/money). Each of these investors was able to build a successful real estate portfolio, all while either being time-stretched, money-stretched, or not knowing how to swing a hammer. They’re sharing the secrets to hiring out/building the other skills so you CAN take down real estate deals, no matter what you’re working with.
If you can combine all the pieces of this “resource triangle,” you have FAR higher chances of succeeding in real estate investing and reaching financial freedom. If you’re a rookie with no real estate to your name, worry not—we’re teaching you what you need to know in today’s episode.
In This Episode We Cover:
The “resource triangle” investing theory and the three things you need to succeed (YOU don’t need all three!)
The most overrated skills in real estate that you can survive without
Building a team and hiring out/outsourcing the resources that you lack
How to start investing if you ONLY have time, money, OR real estate experience
Crucial skills that we WISH we had (you can make a LOT more money with these)
And So Much More!
Links from the Show
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Mastering These 2 Skills Is Critical to Success in Real Estate Investing
Connect with Devon
Connect with Tyler
Connect with Dave
(00:00) Intro
(04:54) Got Skills, But No Time/Money?
(11:51) Got Money, But No Time/Skills?
(18:24) Got Time, But No Money/Skills?
(20:23) Getting Your First Deal Done
(39:51) Building Valuable Skills
(37:18) Most Crucial (and Overrated) Skills
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1030
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