Business
Welcome back, and thank you for tuning in to the Passive Wealth Strategies show. In today’s episode, we bring in guest Dr. Axel Meierhoefer into the show where we will talk about Turnkey Real Estate Investing. As a retired Air Force officer, he started his first company in 2005, focusing on consulting, employee skill development, and program management. He has had a love for education and helping people help themselves become successful. He eventually developed a residential real estate investment portfolio currently worth about $1.5MM and is still growing. [00:01 – 06:25] Getting to Know Dr. Axel I talk briefly about great values that await you in this episode I welcome our guest, Dr. Axel Meierhoefer Dr. Axel talks about his background Originally from Germany and moved to the US 25 years ago How he found his way to real estate investing Becoming a landlord during the Global Financial crisis [06:26 – 24:32] Turnkey Real Estate Investing Taking the next step in being a real estate investor Studying and finding a real passive source of income before retirement Finding his niche in real estate Contributing to society by helping people find a good place to live Getting into the Turney real estate investing Dr. Axel talks about strategies to mitigate risks in acquiring turnkey assets The necessity and benefit of physical due diligence in turnkey real estate investing [24:33 – 33:22] Closing Segment Quick break for our sponsors What is the best investment you've ever made other than your education? Santa Fe house we bought, moved into, rented out, and eventually sold for almost twice the value What is the worst investment you ever made? Getting caught up in the Dot-com boom What is the most important lesson that you've learned in business and investing? Read and understand the terms and fine print of your purchase contracts Connect with our guest. See the links below. Tweetable Quotes: “It’s not just a business transaction, it’s a relationship that you develop.” - Dr. Axel Meierhoefer “When it comes to the really important and expensive purchases, I can only encourage people to really read the fine print, because there is a lot of stuff in there and you’re committing to it, you will be held accountable for it.” - Dr. Axel Meierhoefer “Trust, but always verify.” - Dr. Axel Meierhoefer “Don’t allow yourself to die until you do something good for humanity.” - Dr. Axel Meierhoefer “If you have the opportunity, if you’re considering this kind of investment, I highly recommend to actually see the properties in Renovation, because you see a lot more than when they just go to a finished product that you’re potentially about to buy.’ - Dr. Axel Meierhoefer “Very few people buy a car which is $20k to $50k dollars without having seen or test drove it. So why would you go for $80k to $120k property without even taking a look at it?.” - Dr. Axel Meierhoefer Resources Mentioned: Bigger Pockets Connect with Dr. Axel, send him an email at axel@idealwealthgrower.com. Be sure to visit https://idealwealthgrower.com/ for your complimentary strategy session. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.