The Personal Finance Podcast - 10 Things You MUST DO to Get Started Investing In Real Estate (Step-By-Step!)

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Starting point is 00:00:41 Learn more at aboutamazon.ca. On this episode of the Personal Finance podcast, we're going to talk about 10 things you must do to get started investing in real estate. You're your host, Andrew founder of Mastermoney.com. And today on the personal finance. finance podcast. We're going to be talking about 10 things you must do to get started investing in real estate. If you have any questions, hit me up on Instagram or TikTok at Master MoneyCo and follow us on Spotify, Apple Podcasts, or whatever podcast player, you love listening to this podcast tune. If you want to help out the show, leave a five-star rating and review on Apple

Starting point is 00:01:46 podcast or Spotify. And don't forget to check us out on YouTube as well at Master money on YouTube. So a couple of weeks ago, we had one of our Q&A sessions on Instagram. And we got a bunch of really good questions. But one of the ones that came in was what do you recommend for someone looking to get into real estate for the first time? Now, I absolutely love this question because I have a lot of thoughts on this. And so today, we're going to dive deep into real estate investing and the first steps that you need to follow to get started. But before we dive in, just realize this, that this is a pro to following your boy on Instagram at Master Money Co.

Starting point is 00:02:26 Because we're going to do these Q&A sessions a lot more often. We're going to have Q&A podcast episodes where we're going to be answering your questions and we're going to take those questions from the gram. And we will also take questions on TikTok as well at Master Money Co. So if you're interested in submitting your question, do it there. We may do it via email or voicemail or something later on. but right now, that's the main place where we're going to be doing it. Now, we're talking about real estate investing today because we want to show you how to

Starting point is 00:02:54 accelerate your path to fire to financial independence or retiring early. And in this podcast, I want to get a little bit real about real estate because a lot of people out there make you believe that real estate investing is really easy. You just go out there, you buy a house, and that house is going to bring you a bunch of money coming in. Let me tell you, real estate investing is not passive. even if you have a property manager real estate investing is not passive, there is work that you have to put in to go out and buy physical real estate. Now, a lot of people are going to tell you that you can make it completely passive even with a property manager, but if you have a property manager, you still have to manage that property manager because nobody is going to care about your real estate portfolio as much as you do.

Starting point is 00:03:34 So this is incredibly important to understand. And not only that, you're going to have to go out and find properties, run the numbers on properties, to acquire properties, do all these different things. there's a lot more legwork than just investing in an index fund or a stock. So you want to make sure that when you're buying real estate investments, the returns are going to outperform the S&P 500 or the market. Otherwise, you might as well just be buying an index fund. So don't be buying overpriced real estate. Don't go into a market that's extremely overpriced.

Starting point is 00:04:01 If you can't cash flow or get appreciation or some of these other factors we're about to talk about, make sure that you can actually go out there and find real estate that's going to make you money every single year. Because even making offers, you have to make 100 offers just to get one property. It's a lot of work to do that. With that being said, I just want to say that up front because real estate is an amazing way to leverage and build wealth. It's an absolutely amazing way to do this.

Starting point is 00:04:25 There's a number of ways that real estate builds wealth for you. The first one is the tax benefits. You can write off a lot of costs on real estate. You can write down depreciation on real estate. There's a bunch of different tax benefits when you buy real estate. The second one is real estate appreciates over time. That means it goes up in value. over time. So you get that appreciation and attention to those tax benefits. The third one is if you

Starting point is 00:04:46 have a rental property, you're going to be getting some cash flow on that as well. Maybe two, three, four, five hundred dollars per door depending on what type of property that's you're buying. And in addition, you're going to have equity. So you're going to have equity in a property that increases over time because of appreciation, because of that cash flow being reinvested, because you're paying down the next one, which is principal paydown. So if you have a rental property, for example, you have a tenant that gets up every single morning and pays down your principal on your property every single day. Now, that's an incredibly powerful way to build wealth, is to have five different ways that you can build wealth. And if you're really good at just a couple of these, you're going to

Starting point is 00:05:24 make a lot of money in real estate. But the best real estate investors get all five of these. And if you have all five of these coming into play, you're going to make a lot of money on each property that you buy. Now, if you're wondering what my personal real estate experience is, I don't really ever talk about that on this podcast very much. I will more in the future, just so you guys get an understanding. But I do have a lot of real estate experience because real estate investing is one thing that I was truly passionate about early on. So I personally like to invest in single family rental properties.

Starting point is 00:05:55 Now, those are fewer and far between right now because it's extremely competitive. But those are my favorite type of properties. I've also owned a number of small multifamily properties. I haven't done really large multifamily properties, but I own triplexes, quadplexes, duplexes, all those types of properties are properties that I have experience in as well. I've also done live-in flips, and we're going to have full episodes on how you can do a live-in flip because it's a great way to increase the amount of money that you can make over time. And I also have my real estate license.

Starting point is 00:06:25 Now, I'm not a practicing realtor. I have my real estate license so that I can buy properties, but I have my real estate license that I've helped a lot of friends just as a favor go out and buy properties as well. So I have a lot of experience buying in the market as well, and I flipped houses. So I've done all of those different things in real estate. Now I started investing in real estate at a decently young age. I think I was 25 when I started. So I learned a lot along the way because when I was 25 and I first started, I had to figure

Starting point is 00:06:52 it out as I went. Now I did a lot of learning, which we'll talk about in a second. But over time, nothing beats putting it into practice. And we'll talk about that here in a second. Now, you don't have to actively invest in real estate to invest in real estate. We have an episode talking about the different passive ways that you can invest in real estate as well through things like fund rise, which I absolutely love, through things like reeds or notes. There's a number of different things that we cover in that episode. So check that

Starting point is 00:07:14 out if you want to be passively investing in real estate completely. We're not owning physical property, but you're owning pieces of physical property. And at the end of this podcast, I'll talk a little bit about some real estate strategies that I love as well and some future strategies that I'm going to be targeting. I'm going to be going into some different spaces. And I'll talk about a little bit of those as well. Now, this podcast is going to have some additional content on real I want to make sure that we are talking about it a little more than we have been thus far, because I think a lot of people are interested in real estate. And if you're interested in real estate, hit me up, let me know and we'll accelerate how many

Starting point is 00:07:46 episodes we do on real estate as well. So if you're into that thing, if you're interested in real estate, your boy's going to get into it. So let's do it. All right. So the first step is you absolutely have to do this step. And you have to educate yourself. So educating yourself comes in a number of ways.

Starting point is 00:08:05 The two ways that I did it when I started was books and podcasts. Now, I'm going to give you my favorite real estate books right here right now. I'm going to give you five of them at least. There's a bunch of them out there. But I'm going to give you my top ones that really impacted me. And there was really only one real estate podcast that impacted me. So I'll jump into that as well. Some of my favorite books are Building Wealth, One House, At a Time.

Starting point is 00:08:26 Now, that's targeted closely to single-family houses, but there's a ton of really good principles that are in that book. The next grouping is all of Brandon Turner. So if you don't know who Brandon Turner is, he is the former host of the Bigger Pockets podcast, but in addition, he now owns a syndicate where he buys a bunch of different types of properties as well. But he started off as an investor, just like you and me, just starting off buying one property at a time.

Starting point is 00:08:51 Now he owns thousands of units, and he's in his mid-30s, so it's really impressive. But he has a bunch of really incredible books. So check out a bunch of those. You can just type in Brandon Turner on Amazon, and you can find a bunch of his books that are amazing. The book on investing in real estate is the one that I would start with, because that kind of encompasses everything. It talks about his journey and all that stuff as well. That's where I would start. The third one, what every real estate investor needs to know about cash flow. And I'll link all of these down below in the show notes as well. That's a great one

Starting point is 00:09:21 for learning partially how to run the numbers. And then we also have an episode talking about how to run the numbers. We'll talk about that in a second. But that's really important to understand. The next one, the millionaire real estate investor. So if you've ever seen the real estate brokerage Keller Williams. That's written by Gary Keller and Jay Papazon. And it's a really cool book interviewing a bunch of millionaire real estate investors and talking about their strategies and how they did it and then going through that process as well. Now, if you're looking for a book about mindset, the mindset book I recommend, and you've heard me talk about this a lot before, is Rich Dad, Poor Dad. Now that teaches you about the mindset of buying assets so that you can

Starting point is 00:09:57 pay for liabilities and things like that as well. But it talks about it through the lens of real estate. So I want you to check that out if you haven't read it yet. And if you're looking like maybe I want to get into real estate, maybe I don't, that would be the first book I would read. The reason why it's going to actually change your mindset. Now, Robert Kiyosaki nowadays is a little bit different than what he used to be when he wrote that book. He gets a lot of predictions and tries to act like he has a crystal ball with which direction the market's going to go. But Robert Kiyosaki when he wrote that book, that book is absolutely fantastic. Robert Kiyosaki now is doing too many things where he's

Starting point is 00:10:27 trying to predict stuff. So don't listen to his current stuff. But look at this as something where you can actually change your mindset when it comes to real estate. So those are the five books that I would check out to get started. I have a number of other ones. And what we'll do is we'll compile a list just like we do with our personal finance books that we always leave in the show notes. We'll compile a real estate investing list as well, a separate one so that you could check those out.

Starting point is 00:10:49 And in the podcast, I love about real estate investing is the Bigger Pockets podcast. That's the one where I used to literally obsess about that podcast when Brandon Turner and Josh Dorkin were hosting that show. And I would listen to every single episode multiple times when I would. was getting started because I wanted to understand every strategy, every single angle and stuff like that. Now, you can over-educate yourself because a lot of people get analysis paralysis when they start to educate themselves with real estate investing. You want to do this for a couple months and then get after it because what I did was I started to educate myself when I was like 22, 23 and I did it for too

Starting point is 00:11:22 long. It took me two or three years before I actually jumped into it. So you can over-educate yourself. So what you want to do is make sure that you take action within what you are reading. So start to educate yourself two to six months, then get into it. And we're going to talk about the next thing that you need to educate yourself with is because you have to learn how to run the numbers. So learning how to run the numbers is incredibly important. We have an entire episode talking about that, but a lot of people get into real estate thinking that they can just go out there and put money into a house. And if the rent for the house is more than the mortgage, they think they're cash loan. That's absolutely not true. So you have to learn how to run the numbers because you make all your

Starting point is 00:12:00 money in real estate when you buy. Let me say that again, because if you take anything else away from this podcast today, I want you to take this away. You make all your money in real estate when you buy. So understanding how to run the numbers is the most important skill when it comes to buying real estate, because you can make a mistake and still make money, which I have done. And I will talk about that in a future podcast. I have made a mistake buying a house in real estate and still made $40,000 because I ran the

Starting point is 00:12:29 numbers correctly. That is the power of running the numbers correctly. And I consider a very big mistake and you'll see why on that future podcast. So make sure you're subscribed to check that out. Now, before we jump into the next one, what I want to talk about when running the numbers is it's not just your mortgage. That's an expense. You have things like closing costs when you close in the properties. You have capital expenditures like if a roof goes bad or an air conditioning goes bad. you need to be saving every single month for stuff like that. Or things like insurance or repairs or taxes or management fees. There's so many different. additional expenses, and we talk about it in that episode, and what I'll do is if you're a visual

Starting point is 00:13:03 learner, I will create a YouTube video on how to run the numbers as well, so you can visually see it and use it as a guide. And in the future, we're going to be looking at potentially putting together a real estate calculator so you can run the numbers through our new website coming out, mastermoney.com. So make sure you check that out as well if we go ahead and do that. I think we are going to go ahead and do that. So stay tuned for that as well. I remember when I needed to hire someone fast, but finding the right person quickly felt impossible. And if you've ever been there, you know how stressful this can be.

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Starting point is 00:16:26 Get financial advice that puts you at the center. Find your advisor at IDPrivatewealth.com. Now the third thing that I want you to do is once you understand how to run the numbers, you've done some reading. I want you to practice running the numbers on real properties in your area every single day. This is the only way to get good at running the numbers. So this is your third step. Practice running the numbers on real properties every single day.

Starting point is 00:16:51 So what I would do is I would do about five properties every single day. The minimum that I want you to at least do is two properties every single day. Run the numbers on two properties every single day. Now I get it. Your boys handing out some homework. But this homework is going to help you tremendously over time if you start doing it right now. This is how I got the hang of it. So you have to absolutely do that.

Starting point is 00:17:12 You have to practice. It takes practice because each property has a different situation. If one type of property has a specific type of repair, another property is going to have other types of repairs. So we will talk about this a little bit more. And what I may do is make a YouTube video actively running the numbers on a few properties so that you can see exactly how to do that.

Starting point is 00:17:31 So master money on YouTube, make sure you check it out and subscribe so that you can see those videos come out. Now the fourth thing I want you to do is as you're practicing running these numbers, you're getting your education into place, you learned how to run the numbers. Number four, go to local real estate meetups

Starting point is 00:17:46 if you want a mentor. Now a lot of people are like, I need a mentor, when I get into real estate investing. A lot of people use that as a limiting belief just to have that analysis paralysis. You don't have to have a mentor to get into real estate investing. A podcast or a book can be a mentor for you.

Starting point is 00:18:00 Now, mentors are going to help a lot. So if you can find one, the best place to start is that your local real estate meetups. Now, there's a bunch of different kinds of real estate meetups. I can tell you about some funny ones that I've been to. I've been to some where we're in a back of a sketchy restaurant and it's a bunch of people meeting up. But the one thing I want you to understand by these meetups

Starting point is 00:18:17 is a lot of really good real estate investors don't look like they are. So don't judge a book by his cover. For example, there's a guy that goes to a local real estate meetup that I go to who looks absolutely homeless. This guy looks completely homeless. And then later on, I started talking to him and I was like, wow, this guy actually knows what he's talking about. And I found out that this guy owns well over 1,000 single family houses.

Starting point is 00:18:40 By appearance, he looks completely homeless. His clothes are raggedy. He's got a beard down the middle of his chest. He literally looks like a homeless. guy. But don't judge a book by its cover because he knew so much. You could see that right away when he started talking. It's incredibly powerful. Now, the other thing that you can do at these local meetups is there's another type. There's two types that I go to. So the second type is there's deal-making real estate meetups. So the second one, I don't know why we go to these weird places,

Starting point is 00:19:05 but the second one meets at the middle of a Denny's every single Thursday. And what they do is they make real estate deals. So some people own properties they want to sell. And some people are wholesalers that they want to sell properties and some people are looking to buy and you can find some really good deals there's a lot of deals that i didn't grab at some of those meetings that i really wish i did because now the prices are so much higher that i could have gotten amazing deals at these meetups and these meetups have some incredible things going on so if you have one of those in your local area they're incredibly cool and then every single day if you don't go if you're on the email list they will send you the email list of all the deals that were made and what properties are still up for sale and what people

Starting point is 00:19:42 are looking to buy and people even trade real estate notes they trade all sorts of different things. I've seen people trade cars for properties. So there's all kinds of creative things that you can do with these meetups, and they're very, very cool. So go look for your local meetups if you have one close by. Number five, as you start to get educated, as you start to talk to people, what I want you to do is choose a niche.

Starting point is 00:20:04 Are you going to be the guy or girl who goes out and buys rentals? Are you going to flip houses? Are you going to buy short-term rentals like Airbnbs or Verbo's? Or are you the person who likes to wholesale properties? Now, we have an episode talking about all the different, that you can invest in real estate. I will link that up in the show notes as well so you can check that out. If you don't know the different ways, but choose a niche, pick one, and stick to it at the beginning.

Starting point is 00:20:24 You want to be known as the person who does X, Y, or Z. Number six, now that you're ready, you pick your niche, you've been starting to talk to people, you're starting to get your name out there. It's time to get your financing together. Now, sometimes you can find lenders at those real estate meetups. You can find private lenders, which is one of the best ways to invest. If you haven't heard our episode with Ryan Paneda, it's called From Flipping Couches, to flipping houses. He talks about this, how private lenders are incredibly important,

Starting point is 00:20:50 where he flips millions and billions of dollars of real estate every single year, and he owns a nice rental portfolio as well. And so that is something where Ryan is doing some incredible stuff there. So make sure you check that episode if you're interested in real estate. But some other ways that you can get financing together is a traditional bank. So you can go to the big banks, they're just tougher terms and they're tougher to get a loan. If you go to like a Chase or a Wells Fargo or whatever else is out there, those big banks, a Bank of America, they're harder to get loans. What I like to do is go to the smaller local banks.

Starting point is 00:21:21 Because a lot of times they're willing to work with you. You can build a relationship with the banker. And in addition, they're going to a lot of times give you better terms. Or you can look at something like a credit union to see if you can get some better terms. But build a relationship with a banker if you want to go the bank route. Or you can look for a mortgage broker. Now mortgage brokers have a little bit of stringent terms. But in terms of building a relationship with somebody,

Starting point is 00:21:41 which is really what you want when you're trying to get financing terms, you want to build a relationship and have a mutual trust when you do this, this is incredibly important, then you can also look at the mortgage broker. Now, one of my favorite ways to get financing is seller financing, because seller financing, you can put minimal down and have to barely put anything in that property. A lot of times you can put zero percent down. You get a property for free, and what happens is the owner of the property becomes the bank. So you make the payments to them every single month and you get their property.

Starting point is 00:22:08 If you default on the loan, the property goes back to the seller. Now, how much do you have to put down on rental properties when you do this financing? A lot of banks and a lot of mortgage brokers will make you put down 25%. I've heard a couple people do 20%. I've never been able to do that. But I've seen the majority of them that are at banks make you put down 25%. Now, if you do something like a house hack where you're living in one unit of a duplex, triplex, quadplex, whatever else it is, and then renting out the other, guess what?

Starting point is 00:22:35 You live in that property. You can get an FHA loan. You can get a lot better terms if you live in that property. But if you don't live in the property, then you're going to have a property. then you're going to have to put down a higher down payment. Now, with private lenders, like a private person who lends out money for real estate loans, which you can find at those real estate meetups, they will give you better terms. And in addition, in seller financing, you don't have to put as much down.

Starting point is 00:22:54 So Brandon Turner has a book called Investing in Real Estate with Low and No Money Down. That's a great book to read if you don't have a ton of money to start investing because there's ways to get into real estate where you don't have to spend a lot of money. And we'll do a future episode on that as well. Number seven, it's time to put together your team. Now, this is incredibly important to do. This is incredibly important to understand because the first thing you want is a good agent who understands how to invest in real estate. This is incredibly important.

Starting point is 00:23:20 Don't just get your mom's friend who lives down the street. You have to get somebody who knows how to invest in real estate. Otherwise, they're going to misguide you when you go through this process. It's incredibly important to do that. The reason why I got my license is I realized no agents knew as much as I did about real estate investing. And the other problem is I couldn't get into properties and I couldn't get agents to actually. come and work hard to get into the property with me. So that was the other issue that I had at play. Because if you're a real estate investor, you have to look at a lot of properties. And a lot of

Starting point is 00:23:49 agents know that and they don't want to be driving around all day long looking for properties. I understand that. They have a business to run as well. So understanding this up front is something where should you get your license, you don't have to do it. No, absolutely not. But does it help? It helped me. That's what I can tell you. The next person on your team you want to get put together is a contractor. So you're going to have to renovate a lot of properties if you want to get deals because the real deals out there are properties that need work. So one big thing you have to understand is finding a good quality contractor that can put that

Starting point is 00:24:18 in play. The next one is if you want it to be a little more passive or you're not taking calls for tenants and things like that if you're going to rent it out, is you want to have a property manager. Now, property managers take between 8 to 12 percent. Some of them are going even higher now, 8 to 12 percent monthly. And that is something where you can decide if you want to pay or not. I always put property managers in my numbers, even if I'm going to self-manage the property,

Starting point is 00:24:41 because one day I may not want to manage it anymore. And that's why I always run them in the numbers at 12%. And then lastly, a handyman. And believe it or not, your handyman is probably going to be the person that you're calling the most specifically when you have to fix minor things when tenants are in the property. And what I can tell you is, if you're considering fixing the property yourself, A, how much time do you have? B, you should be working on your business, not in your business.

Starting point is 00:25:07 That's my philosophy. So, yeah, you may be able to fix all the stuff and you may be able to do it a little bit cheaper, but finding a good quality handyman that could do it for you, so you can spend that time looking for more real estate is a better use of your time. Look to do activities when you're a real estate investor that make you $100,000 instead of activities that make you $100. And that's the difference between fixing something or going and finding properties. So make sure that you're looking to work on your business, not in your business.

Starting point is 00:25:37 So now that you have all these things together, you can start looking at properties, taking action, and making offers. Now, let me tell you something about making offers. When you make offers in real estate, to make the offers that actually makes sense, especially in a really hot market, if you're in a hot market, to make the offers that makes sense, you're going to be offending people. And that's just the nature of this game. Because what I do, when I'm aggressively buying real estate,

Starting point is 00:26:00 I will literally offer on every single property that hits the market. And what happens is sometimes I'm offering 50% below the actual asking price. You're going to make agents mad. You're going to make the owner mad. A lot of things are going to happen there. But all those times that I get yelled at for making those offers, guess what happens? Out of every 100, I typically will get one. Now, in really hot markets, it's going to go to 200.

Starting point is 00:26:22 But what you have to understand is the volume of offers is what matters. So this is the other reason why I got my real estate license because I wanted to make a high volume of offers and agents just aren't willing to do that because it's a lot of work for them just to fill out one contract so to fill out a hundred before they make a sale is not worth it to the majority of them so making those offers in volume is how this works this is a volume game and i wrote a blog post a long time ago on dollar after dollar called i get rejected 100 times a month here's what i do about and that's when i was making 100 offers every single month and i explain exactly what i do about now if i was in this market right now when it's really hot and i was making a

Starting point is 00:27:00 a lot of offers, I would accelerate that up to two, maybe 300 offers every single month. Because you have to do that to get properties in this market if you're offering on the MLS. Now, if you're not offering on the MLS, off market properties are usually a better place to get deals. So what is an off market property? It's something that's not on the MLS or Zillow or something like that. So there's a number of ways to do that. We'll have an entire episode on how to get off market properties because that's a whole entire other subject. There's a bunch of different ways that you can do that so that you can find properties off market.

Starting point is 00:27:28 Number nine, put together systems. So once you have your first property, you get that property under contract, it's time to put together systems. Now, if you don't know how to buy a house, we have an episode called How to Buy a House. So once you get that property under contract, make sure you listen to that episode and I walk through the process so that you know exactly what to do. But one of the best books to put together systems is Brandon Turner's book, the book on managing rental properties, I think is what it's called.

Starting point is 00:27:54 I'll link it up below as well. What that book has is it literally has the lease that he used. uses. It has all the systems in place. It has the letters he writes to his tenant. Like say, for example, if he needs to raise his rent, it has the letters he writes to his tenant when they're about to leave the property. It has the letters that he puts together for his tenant with all the rules that he has in place for his house. It's literally a one-stop shop for an entire real estate system. That book is absolutely amazing. I literally took everything out of that book and utilize it and changed the words and things like that and utilized it in my own business. And that is

Starting point is 00:28:23 the book that really helped me. It's a literal step-by-step guide on how to put together a real estate system once you already have the property because you got to manage these tenants you got to have a system put into place now if you have a property manager they may have their own system but i like to know exactly what i need to be doing so reading that book is literally like a textbook on how to start running your real estate business it's literally like buying a franchise you can understand exactly how to do it right out of that book it's the best 15 bucks i've ever spent probably so putting together your systems is number nine to get started the number 10 now you have your first property what do you do so you have your systems in place what do you do so that

Starting point is 00:28:58 That book's going to teach you how to find tenants, all that other stuff as well. But nothing teaches you about real estate like experience. And this is what I want you guys to hear. And this is what I want you guys to understand. Experience is everything in real estate because so many different situations arise. Wait till I tell you the horror stories that has happened to me in real estate. Because there have been bad things. There have been amazing things.

Starting point is 00:29:18 But the incredible thing is, I've never made money faster than in real estate. So understanding that going in, it's going to take a lot of work. It's going to take some time and experience before. you get this thing down, it's not like it's a one size fits all type of situation. You can do all the learning you want, but the real world experience is what's going to teach you the most. Now, if you have a hard experience on your first or second property like I did, I had a really hard experience on my second property, the key is to not quit because I wanted to quit when a bunch of things happened. And we'll talk about that in a future episode, but I wanted to quit. But

Starting point is 00:29:49 persistence and keeping it up and doing it over time is something that you have to do and you have to refine your systems over time. You're going to make a lot of changes. You as a real estate, investor with your first property is not going to be even remotely close to you as a real estate investor with your 10th property. So understanding this and figuring out what your freedom number is and how many properties you need to become financially free and financially independent is incredibly powerful. And we'll have a whole episode on that as well so that we can walk through those exact steps. Now I told you guys, I'm going to be looking at a new avenue in real estate. And what I'm going to be looking at and we'll talk about this and I want to talk to other people about this as well on the

Starting point is 00:30:25 podcast is we're going to be looking at potentially doing some vacation rentals, Airbnbs, things like that. That's the next avenue that I'm setting up to move into. Now, there's a very specific way that I'm planning on doing that. And I think we should walk through it together on this podcast when I start doing it. So I'm going to actually kind of talk you through it and document it when we have real estate episodes on this podcast so that you can see in real time exactly what I'm doing. So we'll talk through some of that as well as we go through this because I think it's

Starting point is 00:30:54 really cool and incredibly important. for you guys to kind of learn as we go. Because like Warren Buffett says, you can learn from mistakes, they just don't have to be your mistakes. I'm sure I'm going to make a mistake or two along the way, and I want you guys to be able to learn from that as I go through that process.

Starting point is 00:31:09 So, listen, I hope you guys learned a ton of the first steps that you need to go through to get started investing in real estate. If you guys have any questions, make sure you're hitting me up on Instagram and following me on Instagram, because we're going to be doing a lot more Q&As. We're going to be answering a lot more of your questions

Starting point is 00:31:24 on Instagram. and in addition, those questions can be read on the podcast. So if you want those read, make sure you reach out to me. And if you want to shoot me a DM and say, you can read this on the podcast if you want to do that as well because we're going to be starting to put together those episodes as additional bonus episodes for you guys so that we can be answering your questions.

Starting point is 00:31:42 I want this podcast to be tailored to exactly what you guys want, what you need with your financial life, and exactly how you want your life to be set up. So we're going to be doing that more often as well and adding maybe some additional episodes. So thank you guys. so much for listening to this episode. Again, if you have any questions, hit me up on Instagram at Master Money Co or TikTok

Starting point is 00:32:01 at Master Money Co and follow us on Spotify, Apple Podcasts, or whatever podcast player, you love listening to this podcast to it. If you want to have out the show, leave a five-star rating or review on Apple Podcasts or Spotify. And don't forget to be looking out because Index Fund Pro, which is the new Index Fund course, is going to be coming out in the next couple of months. We've been working really hard on it. It's absolutely amazing so far.

Starting point is 00:32:27 And I want you guys to be able to check that out. So make sure you stay tuned. Look for that so that you can start passively investing in that as well. Thank you guys so much for listening to this episode. We will see you on the next episode. Frozen lasagna, medium power, 15 minutes. Sounds like Ojo time. Let's play.

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The Personal Finance Podcast - 10 Things You MUST DO to Get Started Investing In Real Estate (Step-By-Step!)

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