How to Profit First in Real Estate with Rocky Lalvani

Rocky Lalvani is a Certified Profit First Professional recommended by Mike Michalowicz. Born Indian, he was brought by his dad to America when he was 3 years old. Growing up, he has seen firsthand what it looks like to build a wealthy lifestyle out of nothing through saving, investing, and spending wisely.  After observing these principles, hard work, and more as an adolescent, Rocky implemented these principles in his own life throughout adulthood. His knack for learning from others and curiosity propelled him forwards.  He is now officially retired from corporate America and is currently focusing on flipping and/or renting houses, coaching 2 high school robotics teams, and volunteering in his community. He also has a podcast called Richer Soul, where he talks about life beyond money. 

[00:01 - 05:06] Opening Segment

What Rocky wants to do in life and how he does it
Rocky talks about Profit First and its impact on real estate
Why profit is a leftover.

 

[05:07 - 08:50] How to Profit First in Real Estate

Giving every dollar a job and making profit a priority
Not All About Profit BUT Smart Business
Paying yourself with lots of accounts 

 

[08:51 - 18:55] Banking and Saving Strategies

Why do people wind up with unexpected bills?
A Second Bank and a Spreadsheet
Common mistakes clients and people make in business 
Rocky’s unique banking and savings strategy
Not an overnight success story but years of doing it

 

[18:56 - 27:57] Closing Segment

Quick break for our sponsorsGroundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.

What is the best investment you've ever made other than your education?His lowest-priced property

Rocky’s worst investmentStocks

What is the most important lesson that you've learned in business and investing?“Start. Do it.  Make it better.”

Connect with my guest. See the links below.

 

Tweetable Quotes:

“It’s really about discipline, mindset, and giving a dollar a job.” - Rocky Lalvani

“You can still get a nice life without overspending.” - Rocky Lalvani

“Start.  You’ll figure it out.” - Rocky Lalvani

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Connect with Rocky Lalvani through Facebook, Twitter, Instagram, and LinkedIn.  Visit his website https://profitcomesfirst.com/ and listen to his podcast Profit Answer Man.

 

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms. 

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