Business
Michael Zuber – the author of the book One Rental at a Time, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Michael talks to us about his journey, which started as being a full-time employee at 30 years old, working insane hours all over the world, and then growing his rental portfolio from a single house to currently about 175 doors. He talks about some of the hurdles many investors who work full-time encounter and the ways they can avoid them. Post-Interview Analysis Key Lessons Learned: Pay attention to the affordability index in whatever market you are investing in. Is your market affordable for the average person who lives there? Also, if you are a high earner with a good-paying job that takes a lot of your time, leverage other people’s time and experience rather than trying to add the additional work of managing, marketing, and finding deals. How did they acquire their knowledge or what knowledge did they need to acquire? He read a lot of books and he had to learn how to evaluate his chosen market. How much money did it take to get started? About $35,000 to purchase and rehab their first property. How much time does it take now? He spends a lot of time doing other things related to his real estate investment endeavors but most of the work is handled by property managers. Could they do this strategy from anywhere in the world? Mostly no. Michael Zuber’s strategy is predicated on choosing a nearby market that is within driving distance of where he lives and learning it well. Episode Highlights: Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/selfstoragecall (https://www.roadtofamilyfreedom.com/selfstoragecall/) How huge losses in the stock market led Michael to pursue an alternative wealth-building strategy with real estate How his days of working long hours and traveling led him to pursue building passive income sources to escape his W-2 job. How he chose Fresno, CA as his preferred market to begin investing in real estate Tips for finding and evaluating a potential property manager And much more… Books and Resources Mentioned The Road to Family Freedom: roadtofamilyfreedom.com (https://www.roadtofamilyfreedom.com/) YouTube: One Rental at a Time (https://www.youtube.com/channel/UCmK_PnRidizNVNw7FqivYCQ) One Rental at a Time (https://amzn.to/2RmZdKz) by Michael Zuber 75 DAY HARD Challenge for Real Estate Investors (https://www.youtube.com/watch?v=bHSDQNxbz0E) Instagram: One Rental at a Time (https://www.instagram.com/onerentalatatime/?hl=en) Rich Dad, Poor Dad (https://amzn.to/2ZzCKMb) by Robert Kiyosaki Tim Ferriss prediction about Second Hubs (https://twitter.com/tferriss/status/1136643922371993603?s=20) MGM Resorts reports $1 billion operating loss in Q2 (https://www.rgj.com/story/news/2020/07/30/mgm-resorts-reports-billion-operating-loss-quarter-2-covid-19-impact/5541086002/) Follow Us: facebook.com/roadtofamilyfreedom/ (https://www.facebook.com/roadtofamilyfreedom/) instagram.com/roadtofamilyfreedom/ (https://www.instagram.com/roadtofamilyfreedom/?hl=en) twitter.com/r2familyfreedom (https://twitter.com/r2familyfreedom) Other Stuff: If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. For show notes and past guests, please visit roadtofamilyfreedom.com/episodes/ (https://www.roadtofamilyfreedom.com/episodes/) Discover the tools and services we use, visit roadtofamilyfreedom.com/resources/ (https://www.roadtofamilyfreedom.com/)