Ep. 57 - Life Changing Real Estate Investing w/ Martin Perdomo
Martin Perdomo, an influential figure in the real estate industry, has empowered countless individuals worldwide to enter the realm of real estate investment. In his captivating story, he unveils his journey to triumph as an investor, recounting the pivotal role played by his mother-in-law in enabling him to acquire his maiden property at just 20. We underscore the significance of cultivating a prosperous mindset and highlight the indispensability of financial literacy. Uncover strategies such as leveraging debt and utilizing rental income to extinguish mortgages, learn the power of cash flow, and attain accredited investor status. We also explore current issues with regional banks and the need for Federal Reserve to make the right moves.
Tune in and get ready to be inspired to invest in real estate and create long-term wealth!
[00:01 - 05:39] Martin Perdomo: from poverty to real estate mogulâhow investing in real estate changed his life
[05:40 - 13:55] Why real estate always wins: advice for young people looking to buy a home
[13:56 - 20:35] Strategy to create assets and achieve financial freedom
[20:36 - 28:02] The secret to creating wealth: sacrificing today for a better tomorrow
[28:03 - 34:15] The benefits of cash flow over appreciation
[34:16 - 40:30] Financial crisis 2.0âregional banks struggle as the Federal Reserve tightens
[40:31 - 47:50] How to calm market fears and get money flowing again
[47:51 - 56:26] Living through 2008 and how it shaped real estate investing today
Quotes:
âDonât wait to buy real estate. Buy real estate and wait.â - Martin Perdomo
"I just had this ambition, this thing inside my, my soul of wanting to be better.â - Martin Perdomo
"Sacrifice right now for a better tomorrow because this is how rich people do it. Rich people have the ability to think generations down the road⌠They have the ability to sit down and think, if I sacrifice today, tomorrow will be better." - Martin Perdomo
"My advice to young people in their twenties or thirties is, go house hack, guys⌠Go get an FHA loan, put 3% down, buy a quad, live in oneâ sacrifice."
"Capitalism doesn't work if money's not flowing⌠We are job creators. We're the ones that keep this thing pumping and going. We need money." - Martin Perdomo
"I wrote myself an email in 2008, and in that email, I titled it, âNever Again,â and I wrote how much money I had in my checking account, how much money I had in savings, what my 401k, my credit card debt was, and I still have that in my inbox.â - Quinton Harris
Resources Mentioned:
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