They say when one door closes on you, another door opens—as it did for today’s guest.
Tom Cafarella found himself working at a job he hated. One that he studied for in college and was expected to earn a good living at… your typical go to college, get a good education and then on to a 9-5 job to make a good living, traditional kind of case.
But Tom’s heart wasn’t in it as he found himself spending more time researching real estate investing online and watching the clock than he did working, which resulted in him losing his job.
Listen in to today’s episode of The Art of Passive Income, as Mark and Scott talk with Tom Cafarella—TomCafarella.com.
An entrepreneur at heart, Tom decided to follow in his Grandfather’s footsteps in real estate after losing his job. He has since accumulated over 300 rental units and has a 200 person real estate agency. But most importantly, Tom is now doing what he loves!
Tom shares how he went from corporate America to working his way up the path of real estate investing landing in the multi-family niche like his Grandfather.
- How he raised capital through wholesaling
- The timeframe to buy his first multi-family
- The multiple ways to gain net worth
- The obstacles and more!
And, like in land, the guys reiterate how deal flow is everything!
Deal flow is the biggest thing—You’ve got to keep that machine running. If you get a good deal there’s a way to make money on it period. So you never want to hold back on the marketing piece because you can always get rid of that deal and make money somehow – Tom
Tom also offers great advice for young adults who are ready to head off to college.
If you find yourself working in a 9-5 where you feel like a misfit and spend more time watching the clock rather than working, then listen in to this episode… it may inspire you to open some new doors.
TIP OF THE WEEK
Mark: Learn more about Tom at TomCafarella.com.
Scott: Check out the book, Crushing it in Apartments and Commercial Real Estate by Bryan Murray.
Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?