Nikonomics - The Economics of Small Business 250 - Real Estate Investing: 3 Rules I Wish I Knew Before Starting with Robert Leonard
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Nov 6, 2025 In this conversation with Robert Leonard, a real estate investor and seasoned podcast host, he reveals the crucial differences between real estate investing and small business acquisition. Robert explains house hacking as a low-cost entry point for beginners and discusses the risk vs. reward of owning rental properties. He shares insights on syndications and highlights recession-proof home services like plumbing and HVAC. Additionally, he talks about reallocating capital towards higher-growth ventures and underscores the importance of a proactive mindset in building wealth.
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Start With House Hacking
- House hack to enter real estate with minimal capital and lower housing costs.
- Use saved cash or tapped equity to fund a business or buy another property after one year of residency.
Buy Long-Distance To Stretch Capital
- If you live in an expensive market, invest long-distance in lower-cost areas to buy better properties.
- Geographic arbitrage lets you buy more attractive assets with the same savings rate.
Use House Hacks As Training Wheels
- Use house hacking to learn tenant management, turnovers, screening, and maintenance on a small scale.
- Treat it as training wheels before scaling to more complex rental portfolios.