Secret Academy Episode - Nick RuizSick and tired of his job, Nick Ruiz came across an infomercial that promised big income while flipping homes with no money down. After dropping $250 on the course only to be disappointed by the material, Nick took a short break before giving it a second chance. While not all the course materials were applicable, Nick was able to take away a few strategies and tips to jump start his career as a real estate entrepreneur. Nick's first home netted him $500/mo profit in rental checks and eventually flipped that for $20k profit. His second home had an even greater outcome. At the age of 20, Nick had truly discovered the true meaning of passive income. With markets flourishing, so had Nick's net worth that had grew to the millions. Then it all came crashing down in the 2008 real estate bubble that forced Nick to lose it all and file for bankruptcy. Salvaging all the resources he had, Nick was forced to start from scratch again with extreme caution to slowly build up his empire. Nick has mastered the strategy of wholesaling homes to earn significant profits with no money down. Today, he continues to build his portfolio but also teaches new real estate entrepreneurs his exact strategies to wholesaling, rehabbing, and flipping homes.
- The difference between real estate investing and real estate entrepreneurship
- Why real estate is the best business model out there
- The 'too good to be true' infomercial that started it all
- How Nick found his first few homes to earn $1,000/mo passively at age 20
- The impact of the 2008 real estate crash on Nick and his family
- Why the real estate crash was the single best entrepreneur learning experience
- The idea of passive income and how it relates to real estate
- What it feels like to lose it all and have to file for bankruptcy
- What does it mean to wholesale homes and how it differs from investing or flipping
- Why you should find the buyer first before finding the seller
- How to leverage direct mail marketing to find motivated sellers
- Important keywords to be aware of when browsing classified listings
- Where to find the best homes not occupied by tenants
- Why there still is significant value in buying a home in a undesirable area
- Best areas to buy for first time home buyers and average price
- The single most important thing when it comes to rehabbing homes
- How to find a team of experienced and qualified sub contractors
- The best home renovations to make to increase value
- Things to look out for when buying a house for rehabbing
- Why it's important to stay very liquid
