Sep 8th, 2021
In 2015, Paul Thompson realized that he needed income-generating assets so he decided to try properties. He got laid off from his job in 2017, but now, he has 50 single-family units and is transforming people’s lives through real estate and business ownership.
In this episode, Paul looks back on his foray into real estate, breaks down his very first deal, and shares the steps he took to build his wholesaling business. He includes anecdotes to illustrate how much work it takes to invest in properties, offering advice for people who are looking into the rental strategy.
- Paul’s journey to FI began with him investing in index funds and building a net worth of $500k
- The advantages of participating in real estate conferences
- The difference between commercial and conventional loans
- Choose the problems in life that you want to solve and can get paid for
- The marketing channels Paul utilizes in his wholesaling business
- The pros and cons of acquiring turnkey properties
- If you’re looking to scale from single-family to multifamily properties, you need to have management systems in place
- Invest in yourself so that you can serve others