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With real estate, you can create a significant amount of wealth. Besides, you don't need a degree to be in it, it's not even a question of whether you're young or old. It's just for everyone from all walks of life.
But how do you do it? How are some able to become successful at it in so short a time?
This episode is highly recommended and should not be missed, for my colleague and good friend July generously reveals how you can grow your net worth, increase your property's value at a faster rate than you might think possible. Funding projects is one of her specialties, as she is all about investor relations. The failure to lend your ear to her is a missed opportunity.
July Ono is the author of "The 7 Profit Centers in Real Estate", and a co-founder of OTBEC Capital Management Inc with over 17 years of real estate investment and management experience. She is excited about every aspect of it.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/
What you will learn from this episode for 19 minutes:
Resources:
Topics Covered:
01:59 - What made July pick real estate as a ticket to financial independence
02:36 - Taking a look at her life before real estate
04:28 - The first of the seven profit centers one should be focusing on
06:26 - Creating equity upfront for smaller deals
08:02 - Buying more but with less money [The second important profit center]
09:18 - Why cashflow is king [the third profit center]
11:06 - What a good cash flow looks like for a smaller deal of a property
11:45 - Talking about the fourth profit center [understanding the principal pay down concept]
14:01 - How she shortened a ten-year goal into eighteen months
15:14 - What is the use of 'tax benefits' [talking about the fifth profit center]
17:20 - Discussing the sixth profit center [and what to be cautious about it]
20:33 - The last of the profit center and the best thing you can do about it
Key Takeaways:
"We chose real estate, my husband and I, because it is accessible to everybody. There are no restrictions; you don't have to have a special degree. You can be an immigrant and not understand English. Real estate is available to everyone, young and old." - July Ono
"I do the little things every single day. And little things incrementally add up. I didn't think I was going to be a millionaire in a year and a half."- July Ono
"Some people get emotionally entangled with the investor candy, I call it, they're looking at all the wrong things. You have to look at the numbers. They're brutal. And if it doesn't work, you have to have the discipline to walk away. And if you can't walk away on your own, you surround yourself with a team who can walk away."- July Ono
"Just imagine you're putting, let's say 25% down to buy an asset, but your return is based on the 100% value of the building. So, your money is already increasing its leverage four times."- July Ono
"I love looking at my annual mortgage statements because that's when I update my net worth. It's getting less and my equity's getting more."- July Ono
"The tax benefits, that's why it's great because all of a sudden if you're borrowing money for the investment off your line of credit, for instance, that line of credit payment, you can deduct it as a cost of doing business."- July Ono
"Buy passive income with your equity. That's the highest and the best thing you can do with your capital. Capital is scarce. It's rare; it's precious. And so, when you have it, you hang on to it by investing it so that it makes more."- July Ono
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