Turn-Key rental success

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. Today I have the pleasure of speaking with Marco Santarelli. Marco is the host of the Passive Real Estate Investing Podcast and the founder of Norada Real Estate, a premier real estate investment firm. His mission is to help others to create passive income and financial freedom by taking the guesswork out of investing for the past 15 years. His team is dedicated to researching top real estate growth markets and structuring complete turnkey real estate investments to minimize risk and maximize profitability. Marco started investing in real estate at the age of 18 after watching his mother work extremely hard at two jobs after their parents divorced to raise her two sons. He purchased his first rental at 18, fixed up the home, and rented the house.  Many years later, Marco made the leap in 2003 to get back into real estate after trying other businesses. In the nine months after his re-introduction, he accumulated 84 doors, mostly single-family small apartments. Others were asking Marco to coach them, although he wasn’t interested. Marco offered to pass along deals to others, realizing there was a niche business to provide investment property rentals to investors. These properties could become turn-key properties and wanted to define a minimum standard for real estate. Marco refers to minimum standards within his own company’s standardization for rental properties. There are standards which Marco’s company defines for turn-key real estate: Property is in a good, stable market Property is located in a good, safe neighborhood Property is new or newly renovated or new Tenant occupied Cash flow positive  Can be managed by full-service property management Remember that turn-key rent-ready real estate is differentiated from the minimum standard for real estate can be in good condition, there may be limited life left on the roof, the home is stabilized with cash flow, a tenant. You can cash flow until you have to make renovations. At some point, you’ll need to take your profits and create a passive stream of income to start on the pathway to financial freedom. You need to know the criteria that you want for your investment portfolio, so you aren’t wasting time on real estate, which does not fit the requirements for your portfolio. Marco has ten rules for real estate investing: Educate yourself and build your knowledge to ask intelligent questions Set your SMART investment goals to create a roadmap and action plan Never speculate or gamble on properties Invest for cash flow to cover all services Be market agnostic Start with the Market in Mind and be market agnostic Diversify across markets geographically Always use a professional property management company Maintain control Leverage your investment capital   Listen in to find out the details about market agnostic and taking a top-down approach to purchase property, how to provide diversification and minimize risk, and when you should buy within a two-hour range of your home and when you shouldn’t abide by this rule. In This Episode: [03:57] Background on who Marco is and how Marco built his business. [06:49] Is there a minimum standard for real estate? [10:08] Creating a passive stream of income. [11:05] Marco’s Ten Rules of Successful Real Estate Investing [35:03] Look at real estate as an asset to be managed on a national basis and find out who you want on your real estate team. [36:27] Asset protection attorneys and other services you want to have when you are investing in real estate. [38:34] How do you know if the zone or neighborhood you want to invest in is good? [40:57] Desirable markets in which to have turn-key opportunities. [44:30] Mindset and attitude of a good investor.   Links and Resources Just Start Real Estate on the Web Just Start Real Estate Coaching Get in Touch with Mike at Just Start Real Estate Marco Santorelli on Twitter Marco Santorelli on LinkedIn Norada Real Estate on the Web Norada Real Estate Investment on Facebook Passive Real Estate Investing on the Web