155: How to Decide What Business You Want to Start
Manage episode 420533211 series 3441909
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/
233 episode