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#48 The Mindset You Need To Succeed As An Investor with Randy Smith
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In this episode, Randy Smith shares his journey in real estate investing, starting as a high-income W-2 salesperson and transitioning to passive investing. He discusses his experience with turnkey properties, the BRRRR strategy, and passive investing. Randy emphasizes the importance of due diligence when vetting operators and sponsors, including track record verification and analyzing assumptions. He also highlights the need for communication and transparency between investors and sponsors. Randy advises new investors to start small and gain experience by investing in multiple deals with different operators. He can be reached on LinkedIn or through his website, ImpactEquity.net.
In this episode, we'll cover:
- Start small and gain experience by investing in multiple deals with different operators.
- Perform thorough due diligence on operators and sponsors, including verifying track records and analyzing assumptions.
- Maintain open communication and transparency with investors.
- Diversify investments across asset classes and operators to mitigate risk.
- Investing in real estate offers the potential for higher returns and the benefit of investing in hard assets.
Click here for the show notes from today’s episode: podcastingyou.com/randy-smith
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