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Summary

In this inaugural episode of 'How to Hack Real Estate', host Scott Krusemark engages with aspiring investor Dan Morgan, exploring his background, aspirations in real estate, and the challenges he faces. The conversation delves into the importance of having a clear vision for financial independence, understanding tenant risks, and the strategies for finding properties and funding. Scott emphasizes the significance of a vision statement and the combination of knowledge and action in achieving success in real estate investment.

Keywords

real estate, coaching, financial independence, investment strategies, passive income, vision statement, tenant risks, property funding, contractor relationships, investment journey

Takeaways

• Starting with a vision statement is crucial.
• Understanding your 'why' helps in tough times.
• Concerns about tenant risks are common but manageable.
• Finding properties and funding is essential for success.
• Investor-friendly contractors can save money.
• Passive income is a key goal for financial freedom.
• The first property is often the hardest to acquire.
• Knowledge and action are both necessary for success.
• Making multiple offers increases chances of securing deals.
• Real estate investing is a long-term commitment.

Chapters

00:00 Introduction to Real Estate Coaching

01:35 Dan's Background and Skills

05:44 Vision for Financial Independence

07:19 Balancing Family and Career

08:07 Understanding Passive Income

12:29 Concerns About Being a Landlord

20:12 Selecting Rental Properties and Funding

24:25 Understanding Private and Hard Money Lending

28:56 The Importance of Networking and Finding Contractors

30:59 Calculating Costs and Understanding Profit Margins

35:24 The Role of Vision Statements in Real Estate Success

38:03 Knowledge and Action: Keys to Real Estate Investing

39:40 Exploring Sheriff Sales and Auctions

47:01 Strategies for Getting Started in Real Estate

52:44 Key Takeaways and Closing Thoughts

About Scott Krusemark

Scott’s first business was at age 12, a precursor to entrepreneurial ventures totaling over 20 diverse enterprises. A computer consultant since 1983, he has a rich history in technology, with more than 50 programming languages and over 150 clients.

His passion for real estate blossomed in 2002, leading him to become involved in various REIA’s and a savvy housing provider. Scott’s diverse real estate experience from fix-and-flips to creative financing. Notably, he developed and sold the innovative Rehab Estimator Pro app in 2019, merging his technological expertise with real estate acumen.

Over 40 years of teaching, Scott is not only a mentor/coach but also an inspiring speaker, sharing his knowledge in real estate and technology.

Married since 1980 with 2 girls, creates a balanced journey. Scott is that rare person at the intersection of Computers, Real Estate Investing, Knowledge, and knows how to clearly communicate. Helping others is his passion through speaking and coaching.

Connect with Scott at guide.howtohackrealestate.com/