(7-steps to becoming a full-time real estate investor with passive income)
By Gary Massari
Owners of REI Homes – Signature Properties
Gary shares how he did it…
In one of my recent Q&A sessions, I promised Danny that we would do a video, podcast, and blog article on how I transitioned from job income to passive real estate investment income. So, Danny, this story is for you — and the many other people who want to make this transition.
Years ago, and I mean years ago,I was listening to the radio when I heard this testimony about a guy who flew into town to buy real estate with no money! I laughed to myself, really? However, the radio show mentioned a no-money down seminar in town, so I went to see how phony it was…. it’s funny to look back now!
Well, as I listened to the creative ways they were making deals, it appealed to me. So, I bought the course thinking I was a sucker for being pulled into their lies (my heart wanted it but my mind said, “it isn’t real”). Know the feeling? I set out to buy my first property from newspaper ads, but I could not find one seller who would carry back a loan! This was not looking good —and at the time I was already so burned out from my job that was going nowhere!
That very next day I hired a marketing manager where I was working as a Vice president for a small plastics manufacture. John was so impressive when I hired him, but then three months later he came to me and showed me a $65,000 real estate commission check and then quit! At the time, that was about what I made annually! Well, I guess I just dated myself, and you’re right – it was back in the seventies. I was so inspired by his check that I immediately filed for a real estate license, studied for 3 months, and failed the exam. Finally, after 6 months, I passed the exam and joined a real estate office for training. Six months later, I quit my job and became a full-time realtor. I was so happy and liberated!
It took me 10 years to figure out that even though I was making good money as a realtor, real estate investors were making more money and working a lot less than me. In fact, every Friday my wife and I would go to our yacht club where this couple was always at the bar buying people drinks. So I asked them, “What in the hell do you two do?” Of course, it was real estate! I knew it!
Ginger, share with the audience how it happened for you…Ginger shares story…
Well Gary, my road is a little different! I got fired from my first job early in my career which made me look into owning my own company and not depending on some incompetent boss. I was never going to let someone else determine my value or career path. I knew deep down that I wanted my own business and so I set out to find one. Real estate always appealed to me. I am an avid reader and started reading a lot of real estate books on investing. The more I read, the more I realized that real estate could give me the business I was looking for.
I bought my first 6-unit apartment building, and this gave me the cash flow I needed to live and be free financially. Later I became an independent real estate broker and ran my own company. This allowed me to buy homes that were in need of repair. From there, I flipped over 60 homes and then bought more rentals properties. I guess you can say that I have been free from a job since my early twenties and would not trade one single day, or regret investing time into learning real estate.
I remember in the early days I attended a lot of real estate meetup groups and went to seminars, and I am still constantly learning through webinars, seminars, and reading a lot.
Here are the steps we took, and you can take, to become a passive income investor and eventually quit your job…
Step one…Find a local real estate meetup group or club and start attending. You will learn so much from attending and listening to the guest speakers share about wholesaling, flipping, renovating, developing, and rising private money. This is one of the most important steps, and is how it happened for us.
Step two…Find a mentor who will show you the ropes! Simply offer him/her your timefinding them flip properties in exchange for their time and guidance.
Step three…Go to real estate seminars, you will learn from the highly successful investors, most of whom started with no money…I did! Ginger drives me crazy dragging me to every seminar she can!
Step four…Invest in yourself, by taking real estate courses and attending boot camps. Both Ginger and I joined Fortune Builders and took every one of their courses and went to all their boot camps for two years. We were determined! We even flew to Atlanta for one of them and stayed at a crummy hotel and ate most of our meals at Starbucks to save money — but it was worth it.
Step five…Start investing by forming partnerships with friends, and even family. Buying your first rental property will get you started, even if you only make a small cash flow. If you want to watch our videos where Ginger shares about buying her first apartment buildings, just Google“Opportunities for Real Estate Investors.”
Step six…Learn to invest as a private money lender. This is very passive and not at all time consuming. In fact, we have a mentorship program where we teach you passive income investing and have homes for you to invest in. You can learn how to flip homes and sell wholesale contracts —Just do a Q&A session with one of us by booking an appointment at https://reihomesandadu.com
Step seven…Use low interest rate savings or IRA accounts to invest money into real estate. We work with Self-directed IRA accounts that will educate you.
Today, we build luxury homes that sell around $4,000,000 and have a thriving business. We invest a portion of our profits into rental properties and we are Private Money Lenders. We love our business and lifestyles, and now we want to share with you in hopes of you achieving our success!
Here is a picture taken on May 16th, 2021 at Rutherford Hill Wineries overlooking Napa Valley, California.
About Gary Massari & Ginger Crystal Faith
Gary & Ginger are top real estate investors and educators running a very popular real estate investment club called “Make Money Now” where people connect with deals and financing and have a whole lot of fun. What very few people know is Gary and Ginger are both real estate brokers and builders. They own a highly successful multi-million dollar luxury home construction company in San Francisco Bay Area, and work in partnership with other investors for very high returns from their projects. “One of the greatest rewards is being able to invest personally along with our partners to achieve higher than any market returns”, says Ginger! “We belong to several wine clubs in Napa Valley and enjoy outings with our partners, it is so much fun!”
“We would love to meet you and possibly help you to qualify as one of our investors, it is easier than you think,” Gary! We offer a free Q&A or get to know us sessions. You can make an appointment on our website at https://reihomesandadu.com anytime!
Every week we put out educational fun information about real estate investing and paying off your mortgage using velocity banking, our goal is to show you how to become financially independent by investing and owning real estate debt free…
Please take a look at our:
YouTube channel: https://www.youtube.com/channel/UCFarJmAvzq_NWq4wAK7StCg
Podcast channel: https://www.buzzsprout.com/1757320/episodes
Make an appointment with Gary: