#78 with Engelo Rumora: Scaling His Turnkey Business to Achieve Financial Freedom
Millennial Millionaire Real Estate Podcast
English - September 22, 2020 21:43 - 46 minutes - 84.5 MB - ★★★★★ - 56 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Jonathan Farber interviews Engelo Rumora on his journey from learning real estate as a construction worker to running a comprehensive real estate solutions business. Engelo is a flipper, wholesaler, and turn key provider based in Toledo, Ohio. In this episode, we break down topics like: breaking through your first deal, starting investing the best way, getting your real estate education, and more!
Top Takeaways:
Jumping into your first deal - 11:30 - 15:00
Having a passion for what you’re doing is a sign that you’re on the right track
Spend the time you’re saving to start real estate on learning the industry
Once you have enough saved to jump in, you’ve probably done enough research
Realize that you will always have more to learn and failures will teach you the most
Choosing a starting investment strategy - 15:30 - 20:20
Having an initial investment is crucial - your money can’t work for you if you don’t have any
$50-100k is a good place to start in the US market
Build your real estate team from the start to cover all your bases and minimize your mistakes
Once everything is ready, start monitoring your chosen market and wait for the right deal
Is a mentor right for you? - 20:45 - 23:30
There are vast troves of information available, for free, online
While there are likely bad sources out there, these are easily avoidable
The reputable names you already know are putting out tons of educational content
If you build the right relationship, it likely won’t cost you money - you’ll be adding value
How to bring value to Engelo Rumora:
Check out his book and Youtube channel
Resources:
Book by Engelo Rumora: The Raw Truth to Success in Real Estate
Social Links:
biggerpockets.com/blog/contributors/engelorumora
Engelo Rumora - Real Estate Dingo
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA