155: How to Decide What Business You Want to Start

If you want financial freedom, you may have heard several options like selling solar panels, trucking, selling amazon items, starting a pottery company.

Mike shares his experience and insights on starting a wholesaling business in real estate. He discusses his motivation for getting into wholesaling, the challenges he faced as a young entrepreneur, and the benefits of the real estate industry. Mike emphasizes the importance of staying focused, building a team, and balancing investments with enjoying life. He also highlights the advantages of real estate as an appreciating asset and a source of passive income. Mike concludes by sharing his social media handle and expressing his appreciation for the value provided by Deal Machine.

Takeaways

• Wholesaling in real estate is an attractive business model with low overhead and the potential for high profits.

• Staying focused and building a team are key to success in wholesaling.

• Real estate is a conservative and appreciating asset that offers multiple benefits, including cash flow, appreciation, leverage, and tax advantages.

• Balancing investments with enjoying life is important for long-term happiness and fulfillment.

• Deal Machine is a valuable software for real estate investors, providing efficient lead generation and skip tracing.

Chapters

00:00 Starting a Wholesaling Business in Real Estate

03:19 Challenges and Motivation as a Young Entrepreneur

08:36 The Benefits of the Real Estate Industry

13:45 Balancing Investments and Enjoying Life

15:18 The Advantages of Real Estate as an Appreciating Asset

David's Social: @dlecko

https://www.dealmachine.com/pod

Ryan's Social: @heritage_home_investments

https://www.heritagehomeinvestments.com/