If you think you are too old to start investing, that time keeps passing by and you are never going to achieve your financial retirement dreams, think again. You can start a real estate career whenever you want to, the only thing you need to have is real estate passion, and being able to learn, read books, and connect with other real estate colleagues that have something to say to you.
Bill Manassero started his real estate career at 60 years old and in a little while, he got on top of the game. Today, he has a podcast for The Old Dawgs out there who are contemplating the idea of starting their own real estate portfolio for their retirement.
With over 20 years of corporate and entrepreneurial experience, Bill and his wife spent 12 years in a mission in Haiti taking care of orphan kids. Upon deciding to return home, he looked into what he would do and decided to venture into real estate investing to earn some money for his retirement, for his mission in Haiti, and for his family. Soon, he started developing his portfolio of properties and through trial and error, he has developed a plan to acquire 1000 units/doors by 2020.
In this episode, Manassero shares with us how an unexpected inheritance allowed him to get into the market, and his progression through different kinds of real estate properties and strategies, from wholesale and turn-key, to multifamily apartment buildings. Learn the importance of developing relationships with the people you do business with, how it is a long term play and most importantly, how not to get discouraged by your age or your lack of success.
“It is a long term play and it is easy to get discouraged.” - Bill Manassero
Podcast summary:
- 05:10 - How he taught the kids in the orphanage a business model that proved to make a lot of money.
- 06:50 - Starting from scratch with an unexpected inheritance and deciding to go into real estate.
- 11:30 - Developing an educational blog first and then a podcast The Old Dawgs for same-age peers, the so-called Baby Boomers.
- 16:60 - ‘Starting around 40 is absolutely not a problem’, Bill was 60 when he started.
- 22:15 - Why it is never a bad time to buy and how you can get success with tech knowledge and innovation.
- 26:53 - Turn-Key: Buying properties that are already fixed and ready that come with a management company and what led Bill to move away from it.
- 33:52 - Development of his plan, the ups and downs, and setting a goal.
- 36:50 - Multiple family apartments as Bill’s big lightbulb moment and how 100+ unit buildings was the way to go from there.
- 43:50 - Why working with people and developing strong relationships is the real key to investing in real estate.
- 46:56 - Getting your family involved in your businesses is important and you can make it fun.
Connect with Bill
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