Nick Lamagna did not intend to invest in real estate. When he finished college, he knew he was wanted to go into law enforcement to assist in counterterrorism. He scored well on all the tests it took to be a great candidate for his dream job, but then he did suffered a permanent hand injury, he was disqualified from working in law enforcement.
At a time when Nick didn’t know what he was going to do, his mother forced him to read Rich father, poor father, who (like many of our listeners) changed his view of making money and having a career. After the initial interest was aroused, Nick started tackling real estate deals outside of his native New York.
He faces challenges in obtaining mortgages, so he partnered with other real estate investors. He need more money, so he started wholesale business. The 2008 housing market crash happened, so he did decided to start flipping. And now Nick is going into bigger deals like Commercial real estate and mobile home parks.
Nick’s advice to new investors: think creatively, feel comfortable when you feel uncomfortable, stay in constant contact with your team and don’t stick to one strategy.
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In this episode we cover:
- Investing in long distance real estate when your local market is too expensive
- Build one …. buyers list for wholesalers and networks
- Cooperate with others who can finance real estate purchases
- Why communication is key for long-distance renovations
- Convert your weaknesses into your greatest strengths
- And so much more!