From Spanish Teacher to Multifamily Investor with Nico Salgado | Movers and Shakers
Mar 13, 2024
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Explore the journey of Nico Salgado from teacher to successful multifamily investor. Learn about the power of community and mentorship, the Go-Giver philosophy, and starting a podcast. Discover the importance of overcoming setbacks, learning from mistakes, and the transformative power of real estate investment.
Transitioning from teaching to real estate for passive income
Importance of mentorship, community, and self-reflection in multifamily investing
Deep dives
Transition to Real Estate Due to Financial Hardship
After facing financial hardships and the inability to afford his house, Mr. Niko Salgado transitioned to real estate from his teaching career, inspired by a business and real estate education. Starting with single-family projects in 2012, he later delved into multifamily investing, becoming a General Partner in a 45-unit value-add property. His journey emphasizes the shift towards real estate as a means of generating passive income to counter unsustainable work commitments.
Navigating Initial Skepticism and Misunderstanding
Embarking on his multifamily investing venture amidst skepticism from colleagues and initial lack of support, Niko encountered skepticism and hesitation towards the perceived riskiness of real estate investment, particularly in multifamily. Despite initial doubts and misconceptions, he persisted in aligning with like-minded individuals within the Jake and Gino community, highlighting the importance of supportive networks in overcoming initial doubts.
Learning from Mistakes and Embracing Accountability
Reflecting on a significant financial error that led to a $60,000 loss due to a rushed wholesale deal, Niko stresses the role of accountability and learning from one's mistakes. By acknowledging his error, seeking advice from mentors, and openly discussing his missteps, he emphasizes the value of transparency, self-reflection, and mentorship in navigating the multifamily investment landscape responsibly.
Embracing a 'Go-Giver' Mentality and Building a Community
Encouraged by his experiences and mentorship, Niko advocates for adopting a 'go-giver' mindset, prioritizing selfless contribution and support within communities. Emphasizing the reciprocal benefits of giving without expecting immediate returns, he highlights the importance of networking, knowledge sharing, and uplifting others in the real estate ecosystem. By fostering a culture of generosity and knowledge exchange, Niko exemplifies the power of building strong relationships and collective success.
In this enlightening episode of the Movers and Shakers Podcast, Gino Barbaro welcomes the incredible Nico Salgado, a seasoned multifamily investor and a revered member of the Jake and Gino community. After 19 years as a dedicated Spanish teacher, Nico embarked on a transformative journey into real estate, beginning with a single-family development project in 2012 and evolving into a successful multifamily investor. Dive deep into Nico's inspiring journey, the hurdles he overcame, and the invaluable lessons he learned along the way.
Timestamps: 00:00 - Intro 00:56 - Why MultiFamily? 03:16 - People’s Reactions When They Said 'I'm going to get into multifamily'? 07:16 - Beginner Passive or Active Investor Pointers 09:58 - The Go-Giver Mentality 13:43 - What Questions Would You Ask Bob Burg? 15:41 - Next Steps Into Multifamily 17:33 - What Have you Taken Away from the Jake and Gino Community? 18:58 - Reasons Behind Nico Starting his Podcast 20:19 - The Small Axe Podcast - Nico Salgado 21:06 - Key Steps to Starting a Podcast 23:34 - What Does the Future Look like for Nico Salgado? 25:53 - Nico Shares Mistakes He's Made 26:32 - De-constructing the Bad Deal 30:28 - Gino Wraps it Up
Key Takeaways: The transformative power of real estate investment The critical importance of community and mentorship Overcoming setbacks and learning from mistakes The Go-Giver philosophy and its impact on success
About Nico Salgado: Nico Salgado is not just a multifamily investor; he is a testament to the power of perseverance, education, and community. With a background in teaching, Nico brings a unique perspective to the world of real estate investing, emphasizing the importance of learning, growth, and giving back.
We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
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