155: How to Decide What Business You Want to Start

The DealMachine Real Estate Investing Podcast

If you want financial freedom, you may have heard several options like selling solar panels, trucking, selling amazon items, starting a pottery company.

Mike shares his experience and insights on starting a wholesaling business in real estate. He discusses his motivation for getting into wholesaling, the challenges he faced as a young entrepreneur, and the benefits of the real estate industry. Mike emphasizes the importance of staying focused, building a team, and balancing investments with enjoying life. He also highlights the advantages of real estate as an appreciating asset and a source of passive income. Mike concludes by sharing his social media handle and expressing his appreciation for the value provided by Deal Machine.

Takeaways

• Wholesaling in real estate is an attractive business model with low overhead and the potential for high profits.

• Staying focused and building a team are key to success in wholesaling.

• Real estate is a conservative and appreciating asset that offers multiple benefits, including cash flow, appreciation, leverage, and tax advantages.

• Balancing investments with enjoying life is important for long-term happiness and fulfillment.

• Deal Machine is a valuable software for real estate investors, providing efficient lead generation and skip tracing.

Chapters

00:00 Starting a Wholesaling Business in Real Estate

03:19 Challenges and Motivation as a Young Entrepreneur

08:36 The Benefits of the Real Estate Industry

13:45 Balancing Investments and Enjoying Life

15:18 The Advantages of Real Estate as an Appreciating Asset

David's Social: @dlecko

https://www.dealmachine.com/pod

Ryan's Social: @heritage_home_investments

https://www.heritagehomeinvestments.com/