Interviewing our clients, most of them have one real estate message for you – Justo do it! This is the takeaway especially of those who suffered from analysis paralysis. Today, we are hearing the experience of a gentleman who went through it and with whom we first spoke 5 years ago when he said he wanted to try it on his own. Alex Ramirez was successful but he confesses that it was hard. Now, he is working with us on his 3rd property and he has a point of comparison. Listen to his story and learn why it is hard to do it all by yourself, how he decided to start working with Cash Flow Savvy, and how those experiences compare.
What You Will Learn About Turnkey Real Estate – Just Do It!:
- What Alex and his wife do for a living
- When Alex first contacted Cash Flow Savvy and why he decided to jump into real estate on his own
- How he bought 3 properties in California and why it was hard to manage them
- Why he decided to start investing out-of-state
- The percentage you get back for the money invested vs. the cash you receive on a monthly basis
- How a couple can maximize their leverage
- Alex’s experience acquiring properties with Cash Flow Savvy
- What a smart diversification is
- The cost of learning from your own mistakes
- Alex’s biggest challenge
Whenever you’re ready, here are a few ways we can help:
Work with me One-on-One
If you’d like to work directly with me on your business… go to REIAce.com, share a little about your business and what you’d like to work on, and I’ll get you all the details!
- Would you like to meet in person? Our next live event is right around the corner! Go to EpicIntensive.com for the details.
- Become an Epic community member at The Epic Real Estate Investing Show
One of my favorite things to do is share with investors the latest and greatest tactics and strategic friends I make. I do it every week and you can listen in by subscribing to The Epic Real Estate Investing Show podcast on iTunes – Click Here.
- Grab my book, Epic Freedom ($1)
I frequently hear from people looking into investing in real estate for the first time, “How long is it going to take?” So much so, I wrote a short book about the 2 easiest and fastest strategies to a paycheck in real estate. You can grab a copy for $1 and I’ll pay the shipping – Click Here.
- Join our Badass Investor Program and be a Case Study
I’m putting together a new Badass Investor case study group at Epic Real Estate this month… stay tuned for details. If you’d like to work with me on your real estate investing, go to FreeRealEstateInvestingCourse.com to get started.
- Also, check these out:
Thank you so much for joining us on this episode of The Epic Real Estate Investing Show! Please subscribe to the podcast so that you will get instant access to our new episodes.
If you found this podcast helpful, please take a few minutes to leave us a positive review in iTunes. Your reviews help to improve our search rankings so that we can spread the love. Thank you!
Speaker 1: This is Theriault Media.
So you want to be a real estate investor, but you don’t want to do the work. If there were only a way where someone else could do it for you. Now there is. Tune in here each and every Tuesday on the Epic Real Estate Investing show for Turnkey Tuesdays with your host Mercedes Torres.
Mercedes Torres: Hello and welcome. Welcome to Turnkey Tuesdays, brought to you by Epic Real Estate Investing. My name is Mercedes Torres, your turnkey girl, and I am lucky enough to be partners in crime with Mr. Matt Theriault, the guy who created The Epic Real Estate Investing empire. If this is your first time here, welcome. Welcome amigo. Glad you made it. Just to go over some basic ground rules of the show. I created this real estate investing, turnkey podcast for busy people, busy people just like you who understand the importance of real estate, they just don’t have the time to do it themselves, or perhaps are too afraid to take the first step or are just tapped out with time to just grow the real estate investing portfolio.
So today I invited a very special guest to our show. I always say my guests are special because they are so special. They’re so special to me because, well, once I start working with you, I just go all in with my clients, and I get to know them on a personal level. And that’s what happened with Alex and Natalie. Alex, ironically, was referred to me by a friend of his. Alex is a full-time police officer in the city of Los Angeles, and he was referred to me by another full-time police officer that is one of my clients. I always think to myself, what do they do, sit in their patrol car and talk about everything under the sun except crime? So, in this case, he confirmed that they do a lot of small talking, and talking generally. And Alex called me about five years ago and we did, what we called at the time, a passive income audit, where I help him figure out what can happen in what he can do, and how real estate investing, turnkey real estate investing specifically, works.
And Alex very humbly and very nice, said to me, you know what, Mercedes, I don’t think I need you. I think I could do this all on my own. It’s not rocket science. I can do it. So I said, dude, go for it. More power to you. I’ve been there, I’ve done that and I wish you the best on your journey. And that was five years ago. So fast forward to the beginning of the year, Alex emails me again. I had sent out a property of the week and it caught his attention, but it actually reminded him that he and I had spoken before. And he said to me, it reminded me that you and I talked and you were way cool. And I did it on my own and it sucked. So can we chat again?
So we got on the phone again, and long and behold, he not only jumped into one property, he’s jumped into three. But what’s so impressive is that he tried it on his own, and I’d have to say was successful at it. So without further ado, I’m just going to let Alex tell you his story, his journey, and really allow you to get to know Alex and what he’s done for him. So without further ado, Alex, can you hear me?
Alex Ramirez: Yes, I can hear you.
Mercedes: Alex, welcome to The Epic Turnkey Real Estate Investing Show, Turnkey Tuesdays. Welcome, how are you?
Alex: Oh, I’m doing fantastic.
Mercedes: Awesome. Awesome. So let’s jump right into it, Alex. Introduce yourself. Tell me a little bit about you, who you are, and what you’re all about.
Alex: Thank you for having me, first and foremost, Mercedes. My name is Alex, Alex Ramirez. I am 32 years old. I was born and raised in Los Angeles in California, and right now currently I’m working as a police officer. So I work in the area of Los Angeles and it’s a great job. I love it. I work with a great partner. It’s fun sometimes. It’s challenging at times, but overall I love it. It’s a great job. I’ve been there for eight years already, so that’s also a great thing. And I’m also married. I have my wife, her name is Natalie. We both actually own our own agency, our home care agency, so we’re getting that up and running. It’s called Motherly Comfort Home Care, and we pretty much focus on veterans, people with disabilities and the elderly so-
Alex: Yeah, so she’s mostly in charge of it. She’s also working another job as well. So she’s pretty busy. We’re both pretty much really busy, and plus you also know, Mercedes, I have my investment properties as well here in California.
Mercedes: We will absolutely talk about that.
Alex: Oh, yes.
Mercedes: So tell me a little bit about, I know you are a full-time police officer, you work for one of the largest cities, I’m sure, of the United States. I would probably argue that. And then she is full-time something else. And in addition, she runs a home healthcare agency. Like when do you guys have time to breathe, let alone think about real estate investing?
Alex: Oh, it’s actually a home care agency, not home health because of difference.
Mercedes: Got It. So what is home care?
Alex: Home care is just pretty much we help them out with the daily life, daily living, for example, meal preparation, bathing, dressing, taking them to their doctor’s appointments, medicine reminders, just pretty much helping them live a normal life, an everyday life just as they would.
Mercedes: Wow. Wow.
Mercedes: I just learned something. And thank you for your service. I had no idea that this business existed. Awesome. So you guys have been married for how long?
Alex: We’ve been married for three years, but we’ve been together for 10 years in total.
Mercedes: Awesome. And you finally mustered up the courage to pop the question?
Alex: Yes. I wanted to make sure. I wanted-
Mercedes: I like that. Yeah, you are one of those analysis guys.
Alex: Yeah, analysis paralysis.
Mercedes: Analysis paralysis, awesome. So tell me, how did you discover Epic Real Estate and Cash Flow Savvy?
Alex: So this happened about four to five years ago. I was actually interested in investing in real estate, but I just didn’t know how to do it or go about it. So I started asking people around, some of my coworkers who had real estate, and I came across one coworker who had a property with you. And he told me about Cash Flow and he said, go check them out, go online, give her a call and talk to her. So I’m like, all right, cool. So I’ll give you a call. I talked to you. But then, when it was out of state properties, it just didn’t… to me at the time didn’t make that much sense because I’m like, I’m not going to fly over there every day to go to these properties.
And I was just like, oh, out of state? No, I want to do the in-state, you know? And I think I came in there talking to you with a negative mindset about it. So I just didn’t go through with it because I was thinking it’s out of state. I don’t want to fly out there. And then plus, I didn’t have the money just yet, at the time. So I just pretty much put at the back burner. And I totally forgot about that and I ended up just doing my own thing here in California.
Mercedes: Yeah. So I do remember talking to you. I do remember you being skeptical to a degree.
Alex: Yes, yes.
Mercedes: Because you knew you wanted to do it. You didn’t know how. And I remember I was super open and I gave you the pros and cons and I remember you said to me, you know what, Mercedes? I’m going to go try this myself.
Mercedes: And my instant thought was, you’re a police officer, you’re a newlywed. You’re going to go try yourself. And it’s going to be hard. But call me. Call me when you’re done. And I’d love to hear about your experience. So let’s fast forward to that. What did you do? And tell me about your experiences doing it yourself. Because I know when you came into my office after it was all done, you said to me, it’s been hard. So-
Alex: Yes, yes.
Mercedes: All right.
Alex: So, yeah So, after that conversation, I decided I want to invest in California. So I went and did my own research. I studied up on it. I ended up, I did work, I saved up all my money. I did a lot of overtime so saved up a lot more money, didn’t buy no fancy cars, no jewelry, nothing like that. And I was able to finally purchase my own property, which was a fourplex. It was a multifamily home, and I was able to purchase that. I was able to get some cash flow from that, and I ended up saving some more money and I bought my second property. The same thing, did the same thing, repeated the steps and then I ended up buying my third one. All three were multi-families. And let me tell you, I was managing all those three properties and it was hard. It was tough just trying to fix everything, getting those late night calls. And it was hard.
Like I remember listening to a podcast of landlords talking about all the negatives that they had. I’m like, I could totally relate to all that because that’s how I fell. So it was, I’m not gonna lie, it was becoming stressful. So I had to, I was like, you know what, I’ve got to sell the first property I bought. So I sold it.
Alex: And I was… Yeah, I sold it. And I had it for three years already, so I sold it and I said, okay, I’m thinking about going into flipping homes, I wanted to do that.
Alex: But then I started doing my research and then also dealing with contractors and everything. I’m like, oh man, I don’t know. And especially in California, because California homes are very expensive.
Mercedes: That’s relative. So tell me, what was the price point of your properties that you purchased?
Alex: The fourplex, that one, I bought it for 360 but that was like almost four years ago.
Mercedes: Okay. You bought it for $360,000, four units, and that was four years ago.
Alex: That was four years ago.
Mercedes: Okay. And what would be the value of that today? Because you sold it, so what did you sell it for?
Alex: So I sold that for 500.
Mercedes: Okay. And that was in two years? Ladies and gentlemen, that is typical California, properties in California numbers. But you bought it at just the right time because you bought it at the low of the market.
Mercedes: So tell me about that. Did you buy it in pre-rehab conditions? Did you buy it already ready to go? What was that about?
Alex: It was pre-hab, so I still had to do some work on it. Nothing too major, but I mean, I did some work on it, some painting and kind of replaced a couple of things and-
Mercedes: Got it. And did you do the work yourself or did you hire somebody to do the work for you?
Alex: I did the work myself, plus I hired somebody. So it was like side by side. And I mean, I tried to do some of the work as well to try to save up some money.
Mercedes: Got it. Okay. Okay, so then go ahead, go on with your story.
Alex: So yeah, so once I sold the property, like I mentioned before, wanted to do flipping but the homes were already too expensive, and then dealing with contractors and time is of the essence. So I needed to make sure that, because if the project lasted too long, that would have been profit getting cut from me.
Mercedes: Yeah, yeah.
Alex: So that was out of the question. And so there I am sitting with this money that I have, and I didn’t want to buy another property here in California because by now it’s already too expensive.
Alex: So I don’t know what happened. I don’t know, the stars aligned or something. I received an email from you. And it was one of those, like, it wasn’t like directed towards me. It was just more like a, like, I have this property out here if you’re interested. And I was I was like, oh, I remember Mercedes.
Mercedes: I’m honored that you remembered me.
Alex: Yeah, I’m like Mercedes, the out of state properties and by this time I already had knowledge about properties. I knew about property management. I knew that I had more knowledge about it now and I also had the money now. So I told my wife about you and how we talked about our goal and she said, “Boy, you need to email her right now.” And I said, “Okay, fine. I’ll email her right now.” So that’s what I did. And you got back to me the next day and then I was like, let’s set up that phone appointment and let’s talk again.
Mercedes: Yeah. I remember when we talked again, you’re like, you’re actually calling me. I was like, yes, I actually call you. You book a call with me. I actually call you. So I called you and then a little bit more to that you actually came into the office with your wife. I invited you to come in with your wife because although she was in theory on the same page, I wanted you to really understand the power of what both of you can do. So you came into my office, I had a whiteboard session with you. Tell us about your experience in that whiteboard session.
Alex: It was like a mind blown. I was like, wow. I was like, that’s amazing. Just the fact that the ability that you could buy properties out of state and by percentage wide make more money than you can here in California. Just the whole process of it, it makes total sense. And I came out of there just like in amazement. I was so excited. I was happy. I was like, let’s do this. But at the same time, I was nervous.
Mercedes: Yeah, I understand that. Tell us a little bit about… so you said you were excited. It was mind blowing just because you knew that the percentage that you were going to get back, although the numbers were smaller than what you’re used to seeing here in California, you realized the percentage was bigger. So that I remember seeing your eyes open and your wife, I mean, Natalie was asking amazing questions. But tell me specifically, how did I help you see that? What did I do so that you saw what was possible for you?
Alex: Oh yeah. So pretty much you asked us about what’s your goals? What is it that you want to accomplish within a year? And you pretty much went in detail. You wrote it all down on that whiteboard. And even the little drawings with the little houses, you fit it all up and you said, okay, if you were to purchase this amount with the month that you have, you’ll get this many houses. Right. And then once we establish that, then this is the percent you get, even though it was minimal every month that you were going to get. But if you continue to buy, especially with the money that you have and you continue to save, that can accumulate, you can get more properties, which all that little bit that you get from each of those properties will end up accumulating to a larger number, right. Every month.
Mercedes: Yeah. So it’s important that we point out Alex and I mentioned this when you and I were sitting together with your wife. The cash flow number that you were getting, the amount of cash that you were receiving at the end of the month, let’s just assume that it was $600 a door that you were receiving or a property that you were receiving.
Mercedes: But you were only receiving a 3% cash on cash return. Where in the Midwest and in the south and with our cash flow savvy properties, you are actually receiving a 9% cash on cash return, but you were only getting $200 a month. And what matters, and I think I helped you see that the cash amount that you’re receiving, the $600 a month, that doesn’t matter. What mattered is the percentage that you’re getting back for the money that you’re investing. So I think that’s what was eye-opening for you and Natalia and I see you nodding your head and you’re saying yes for our listener.
Alex: You are explaining that very well, yes.
Mercedes: Yes. So it was very important to me that you and Natalia understood that. And furthermore, I remember saying to Natalie, her name is Natalie. I remember saying, I have to split you guys up on paper. And her eyes just like looked up because she didn’t understand what that meant. And I said, the power of leverage if I split you up on paper, you’re going to be able to get to your goal a lot faster. Explain what I meant so our listeners understand and I want it in your terms.
Alex: So pretty much like to split it up like I get a certain amount of properties, which is 10 properties and then Natalie will also get her 10 properties. And by leveraging we can increase our income a lot.
Mercedes: Correct. And so the reason I said the 10 is because right now, and I talk about this all the time, leverage is king. If you do not over leverage yourself. And what I was saying was if you and Natalie split yourself up on paper, she can qualify for her own loans. You can qualify for your own loans. And if you were to do a conventional loan, so a Freddie and Fannie Mae product, you can get up to 10 loans individually with only 20% down. And right now rates are at around a five and a half, 6% on a 30 year fixed. So it is insane if you guys were to do it together, which is why I specifically explain, let’s split you up so we can maximize your leverage.
And I congratulate you guys because you did just that. You’re moving at the speed of instruction and you’re following the rules. So I love that I was able to share that with you and to have you guys see the light, if you will. So let’s fast forward a little bit. You decided, you said Mercedes, I remember you said, I’m all in. Let’s do it. So what did you do? What have you acquired with Cash Flow Savvy?
Alex: So right now I acquired my first property, so that already closed.
Mercedes: Yay. Tell me about your property.
Alex: Yeah, I know I’m excited. I mean I’ll explain that whole process later on. But yeah, we got our first property already. We closed on that and right now once I saw how easy that was, I said you know Mercedes, I want to buy like five now.
Mercedes: And what did I say to you.
Alex: You were like, okay, well hold on. Let’s go ahead and let’s start, I’ll send you some more houses right now. You pick them out and we choose and we’ll move forward. And so far right now we’re in the process of purchasing two right now.
Mercedes: Two, Yes. So although I have you move at the speed of instruction, I make you move cautiously.
Mercedes: So we strategize. So we are currently in the process of strategizing your acquisition and where are your properties that you have already acquired and the two that you’re acquiring. Tell us a little bit more about those properties.
Alex: So the one that I acquired right now, it’s an Alabama and the two that I’m purchasing is also not Alabama as well.
Mercedes: Correct. And where is your next one’s going to be? Not in Alabama, right?
Alex: Not in Alabama.
Alex: Whichever property you send me, recommend that’s where I’m going to go.
Mercedes: Yeah. So the point is, and I know this before our listeners I already know that you and Natalie are creating a portfolio. So I am strategically setting up or helping you set up the portfolio because you still have to select the properties in a manner which diversification is solid in each market. So in Alabama for example, you have lower price point properties, 80 to 100,000 and then a little bit mid to higher price point properties, a 100,000 to 130,000. And so we do that in each market so that we can not only diversify markets but we can diversify the price point of the property, which ultimately dictates the caliber of your tenant. So I’m big on smart diversification. Cool.
So the property that you acquired the first one. Tell us all about it. Because I know you’re in acquisition mode on the other two. Tell me about that first property?
Alex: Oh Wow. It was how you mentioned before once everything is said and done, once you go through the loan officer and you’ve got all your paperwork and documents ready, you get to set up on a queue and you get to pick the property you want. Right. So once you’ve picked the property after that it was easy. It was all through email, I saw the property. I saw the pictures, the inspection report. I kept in contact with my loan officer. I get a contract with the property management team out there. It was just like… I was surprised. I was like, I mean this is pretty easy. I even felt like I had to do more. I even email them and tell them, “Hey, do you need anything from me?” And then they’ll and message me like, “No, it’s okay. We got it.” I’m like, “Really?”
Alex: It’s crazy how it was so easy to get everything just set up and how easy it is.
Mercedes: Alex, let me just tell you, it’s easy for you. There is a lot going on in the background so that it is easy for you. I don’t have to tell you. You’ve already acquired a couple of properties in your own backyard and you saw how challenging that is. You see how much you have to do. So we do all that for you. We still go through the struggles that you go to. You just don’t see it. We take care of it for you. And that’s the beauty of working with us is that we do all of the heavy liftings for you. We take all of the headaches, but I do make you do some work. I do make you do your inspection. So tell me about that.
Alex: Yeah, pretty much you send out an inspector to go out there and they do the inspection of the property and they will send you that information via email. So you look at all the pictures that they send you. You look at the issues and everything. And so you already know beforehand what issues the property has if any. So and the property management team, they’re great. If they see the issue, they’ll take care of those issues for you and if you have any problems that you want to fix, then you just let them know they’ll take care of that problem. But you’d pretty much have to take care of it. You’ve got to take care of that on your own. And you also have the option to fly out there and take the property as well. I rather just stay comfort of my home and I trust you, Mercedes, I trust your whole team. So I’ll just look at the pictures. I’ll say. Okay, perfect cool. And I’ll let them know, okay, these are the issues we have and this is great or not and we’ll just take it from there.
Mercedes: Yeah. Our teams are pretty amazing. It’s taken me a long time to create the solid, legit teams on the ground. So I do myself in our teams and I talk about that all the time. It doesn’t matter how great your property is, how pretty it looks. It doesn’t matter if you have the white picket fence if you cannot get your team on the ground to place a qualified tenant that pays rents and collects the rent by the property manager, it doesn’t matter how pretty the property is. It’s all about your team on the ground. So I do pride myself in our teams and I thank you for acknowledging that.
I will say to you, Alex, I didn’t choose the inspector for you. You get to choose the inspector, we send you a list of recommended inspectors and you actually chose a pretty hard inspector. But we have good inspectors and we were really thrilled to see our inspection report with few things on your property. So inspections, I even did a whole podcast on inspections because inspections or inspections and an inspector has to fill up 50 pages reporting to you the client, what the property’s all about and sometimes those 50 pages don’t always look so pretty. So, I love that you went through that whole process yourself.
Mercedes: So then tell me about the closing process. I know that you said you reached out to the lender and the lender said “Nope, I don’t need anything,” but then the lender had to reach out to you, as well as our escrow and title to meet you for the signing of your documents because the property is in Alabama and you live in Los Angeles. So tell me about that process.
Alex: So pretty much, just overall, like I said, it’s been a great process but when it comes to actually signing the documents they send out a notary-
Mercedes: A notary, yes.
Alex: Yes. They send out a notary so you can sign your packet of documents so-
Alex: Like I said, everything is set up for you to make the process very easy for you, for the investor.
Alex: But when the notary came over to my house, she brought the packet of papers, we went through them, I signed them all and that was it. I was like, “Wow.” I was like, I just feel so guilty, I feel like I need to do more.
Mercedes: All right. So you close on the property, we sent you a congratulations email and you’re on your own. You’re a homeowner. Do you have tenants in place? Have you collected your first rents? Tell me about that.
Alex: Yeah, so we closed on that first house, we closed towards the end of February, beginning of March. So that was the end of that and then after that, I was in contact with the property management team and they were keeping me updated every Friday, which was awesome. And if it did have any questions, I’ll email them and they got to me right away. They finally just got tenants in.
Alex: Yeah, they just got it leased and they sent me a message, they sent me the lease and I have it saved and we’re moving forward.
Mercedes: And we’re moving right along to property number two and three, which are closing probably at the end of next month-
Mercedes: So, I love it. I absolutely love it. Cool, Alex, so tell me what would you say was the biggest challenge in this whole process?
Alex: The biggest challenge … I mean, just jumping in, doing it.
Mercedes: And trusting the process, right?
Alex: Trusting the process, yes. Just doing it. I think that was the biggest challenge because I just felt like it was more to it, right?
Alex: And I just felt like there was a lot that you had to do, but I’m just so glad that I was able to talk to you and be able to meet with you and have you explain how the whole process is-
Alex: And it made me more comfortable. But I would say, yeah, just the biggest challenge, and I think a lot of people will agree with me that the biggest challenge, when it comes to anything such as this, as investments is just jumping, jumping in, executing it.
Mercedes: Yeah. It’s hard and many people are like you, Alex, that suffer from analysis paralysis. I mean, you can only read so much. You can only listen to so many podcasts. You can only attend so many seminars. At some point, if you don’t do it, it’s just wasted energy on your behalf-
Alex: You’re right.
Mercedes: You’re spending all this time investing in education. But if you’re not putting it to work, what’s the point? So, it took you a couple of years to come around, Alex, but you came around, so I love it. It took you five years to come around-
Alex: Yeah. Yes, I know, I know.
Mercedes: That’s how long ago it was that you and I first talked. So, Alex, when you were in the process, and you had questions, or you felt like you got stuck, you have a point of comparison because you did this all yourself. And I don’t know who you called when you got stuck or when something went wrong or when your time line was out of proportion that was costing you money. I don’t know who you reached out to when you were doing it on your own. But with us, when you had questions and you wanted to reach out to us during the process, what would you do?
Alex: I would try getting in contact with you either via email or phone. And you were on it, I would always get that email right away and we’ll set up an appointment to talk on the phone and whatever questions I had you were always there to answer them. Let’s say I had a question regarding the property, I just emailed the loan officer or the property management and they were just great. They’ve been on there answering all my questions that I have. They never left me in the dark with anything.
And when I was doing my properties here in California, it was tough. I was learning as I was going so I was learning from my mistakes. I was learning from a lot of mistakes … I did a lot of mistakes but that’s how you learn and I did have someone that somewhat guided me and he was my real estate agent, but pretty much I as on my own when it came to managing the property, finding the contractor, going out there, learning how to fix little things. I had to go on YouTube to learn how to fix whatever thing broke down. Going through with you guys has just been a total blessing.
Mercedes: Wow. Thank you. So when you said “I learned from my mistakes,” what did that cost you?
Alex: Oh, it cost me let’s just say a pretty good penny at some of those mistakes. You know.
Mercedes: Not to mention stress and sleepless nights.
Alex: Oh, yes. There was calls in the morning and just one that sticks to in my mind when we had a lot of rain and one of the roof, didn’t collapse, but there was like a big leak [inaudible 00:32:13] there was a hole in the roof, just the call late at night to go out there and fix it. It’s like, how do I go out there and fix it right now? Three in the morning.
Alex: You know what I mean? So-
Mercedes: Oh wow. Wow, wow, wow. That’s terrible. I’m glad that you dealt with that and that it wasn’t one of my properties for the most part.
Alex: No, that was here in California.
Mercedes: Awesome, awesome. So what would you do different, Alex, from this point that you’re able to see in hindsight? You know they say hindsight is 20/20. What would you do differently?
Alex: What would I do different is just, you know, I think I should have just gotten more information. Instead of going in there with a negative mindset, especially when I was talking to you about the whole out of state properties, actually just kind of just went for it. I think I probably would have many, many properties out of state now, and it’s just having a positive mindset, overall. And just really looking at things in a bigger context, the bigger picture. Instead of closing your mind.
Mercedes: That’s interesting. So if you would give advice to a new investor that is considering getting started or an investor that wants to expand their portfolio but doesn’t know how. What advice would you give that new investor?
Alex: The advice that I would give, I would say just do it. I know I’ve been hearing a lot of your podcasts and a lot of people have said … a lot of the investors have said just do it, and it’s so true. Once you think about it, just go out there and execute that plan. Don’t get analysis paralysis. Execute the plan. Just like, for example, when I had asked my wife “Should I email Mercedes?” She said “Do it.” So I just went ahead, I said “Okay, fine, let’s do it,” and look at us now-
Alex: So don’t think about it too much. If this is something that you want to do, go in there and execute it. Execute that plan. Don’t hold back.
Mercedes: Wow. Those are powerful words. Coming from a gentleman that suffered from analysis paralysis. Coming from a gentleman that I spoke to five years ago who said, “I’ve got this, Mercedes, I can do it on my own.” And now that you’re working on property number three and you have a point of comparison, I’m honored that you came and gave me the opportunity to show you the power of what you can do, if you open your mind and if you just do it.
Ladies and gentlemen, Alex has said it better than I can ever say it. So, Alex, thank you so much for not only giving up your morning to spend some time with me, but really for sharing just openly, authentically, candidly with everybody out there that has that little spark in their mind that they want to do real estate but for whatever reason they just haven’t done it. So thank you, Alex, for being a guest on our show. And for those of you who are interested in making a difference to your financial freedom, I urge you to reach out, not only to me but just do your own assessment of where you are with your finances and what your potential is. So, go to cashflowsavvy.com. That’s savvy with two v’s. Download the frustrated investor’s guide to passive income and you too can do what Alex and Natalie are doing for their lives. I will see you next time on the next episode of Turnkey Tuesdays.
Speaker 1: Is Wall Street failing to meet your expectations? Has your 401k tragically turned in to a 201K or worse? Don’t panic. You don’t have a money problem. You have an idea problem. We’re cashflowsavvy.com and we’d like to share with you a new idea how one small shift can transform your financial future and accelerate its arrival. Go to cashflowsavvy.com to get this new idea that Wall Street doesn’t want you to know about. Cashflowsavvy.com. More control, less risk. Cashflowsavvy.com.