REI ROCKS! PODCAST

Listen to another great episode with industry leaders in real estate.

The Goal to Become A Real Estate Professional with Rich Groves

In this 4 part series, Rich highlights how he rocks his W2 job as well as his side real estate hustle.

Part 1

Things you will learn in this episode:

[00:01 – 07:29] Opening Segment

● Let’s bring Rich Groves to the show
● Rich talks about soft skills
● Rich shares the beginning of his real estate journey

“Do not make an emotional decision on a business transaction .”

[07:30 – 18:29] The Goal to become A Real Estate Professional  

● Rich talks about his goal to one day leave his W2 job to become a full-time real estate professional
● Buy and holds project
● Hard times in evaluating and screening tenants

[18:30 – 23:52] Keeping the Emotional out of the business transaction

● Not making emotional decisions on a business transaction 
● Rich talks about the class property he focuses on currently

Part 2

Things you will learn in this episode:

[00:01 – 07:00] Cash On Cash Return

● Asbestos siding issue
● Cash on cash return evaluation
● Cashing out the equity line of credit

“If you think you can or can’t you’re right.”- Henry Ford 

[07:01 – 19:48] The Courage to Step into Real Estate

● Rich talks about how he convinced his friend to do real estate without buying a thing
● We talk about US political dynamics and the constitution
● Maintaining a healthy relationship with a polar opposite person
● Flat income tax in Illinois
● Fair tax measurement
● Trusting where the money was going

[19:49 – 23:12] The Government Program and Real Estate

● The government program and real estate
● Rich shares his experience in buying a house from a tax sale

Part 3

Things you will learn in this episode:

[00:01 – 11:10] Networking Strategy as a Tag Team

● The importance of knowing each other’s strengths and weaknesses
● Find out what the other party is struggling with
● Building a property from the ground up
● Teaching the new generation and others about real estate to find financial freedom

“So much of your belief system is the subset of the environment that you have been raised in .”

[11:11 – 23:49] The Importance of Real Estate Exposure and education

● The bad effect of Micro-managing
● Using real estate as a vehicle to exit that kind of environment
● Self-directed retirement plan
● The lack of education and exposure to real estate
● Opening people’s minds to the new way to do thing
● Creating more quality content
● The approach with a willingness to learn

Part 4

Things you will learn in this episode:

[00:01 – 07:55] Sharing Values Through Podcasting

● Karl shares the reason he got into podcasting and the values he received
● Adding and sharing values through podcasting
● Overcoming self-criticism
● The intimate level of thinking

“You gotta find a way to create a seat for yourself in the room and use that seat.”

[07:56 – 15:50] Creating Yourself A Seat in The Room

● Finding a way to create a seat for yourself in the room
● The fear of making mistakes on the first impression
● Vulnerability and authenticity in building relationships
● Get 10% off for your first month’s package on Streamlined Podcast with code: REIROCKS10
● Final Words from Karl and Angel

You can connect with Rich on LinkedIn Instagram and Facebook.

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