Apr 22, 2022
There comes a time when tables turn. A host becomes a guest, and a guest becomes a host. Today, I get to be a guest on King Khang’s podcast. Khang will be interviewing me, intending to understand my real estate journey.
Khang and I are members of the Collective Genius Mastermind, and we are both immigrants to the country. My real estate journey started when I was pursuing my MBA. I flipped a house and thought it would be a great path to follow. So far, I’m glad I chose the right path.
In this episode, we’ll talk about how I started in real estate, built a team, work-life balance, how I survived a recession, and Airbnb’s, among other interesting topics.
Grab a notebook and pen. You might need to take some notes.
Key Talking Points of the Episode:
[02:23] Where is my origin?
[02:57] How I started as an entrepreneur
[06:13] How I flipped my first house
[09:57] How to build a team
[12:59] When do you know you are ready to start hiring people?
[14:20] How many hours a day did I work when I started?
[16:08] Work-life balance
[21:01] Why do I think celebrity couples don’t work out?
[23:53] How was the 2008 recession?
[27:45] How you can protect yourself as a fix and flip in case there is another recession
[29:43] How much reserve should you have when fixing and flipping property?
[32:00] My take on the current real estate market
[35:28] Single-family versus multifamily
[37:19] My thoughts on Airbnb
[42:34] Where I’m I doing my business at?
[43:49] The upcoming The Multimillionaire Club
Quotes from the Episode:
“If your pocket is not deep enough doesn’t mean other people don’t have a deep pocket.”
“For every rental property that you own, you should have $3,000 in reserves, in my opinion.”
“The first thing that happens in a real estate downturn is that the ability to borrow money dries up quickly for those that are not well supported.”
“Anyone who aspires to be best in class, they throw work-life balance out the door.”
“For every two or three wholesale deals you do, you’ve got to start holding on to one.”
“Don’t compare your success or progress level with someone else’s. Because we all learn differently.”