In Episode #194, Nathan speaks with Engelo Rumora a property developer who also owns Ohio Cash Flow a multi-million dollar Turnkey Real Estate Investment company based in Toledo, Ohio that specializes in providing turnkey properties in the Toledo, Dayton, Cincinnati and Columbus, Ohio markets. Listen as Nathan and Engelo talk about establishing a secure property portfolio, the art of the hustle, and why you need to keep throwing the “mud.”
- Favorite Book? – How to Win Friends and Influence People
- What CEO do you follow?— Nido Qubein
- What is your favorite online tool?— HipChat
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be?—Be more patient
Time Stamped Show Notes:
- 02:00 – Nathan’s introduction to today’s show
- 01:28 – Living as a “Recovering CEO”
- 02:40 – Building a $1M portfolio at a young age
- 03:45 – Engelo was losing money on his mortgage payments
- 04:50 – Optimizing real estate investments for cash flow
- 05:09 – Establish an end-goal? How much money do you need per month to live on your own terms?
- 05:39 – Every piece of property you buy needs to bring you closer to your goal
- 06:38 – Engelo was 23 when he started doing the real estate investment work
- 07:05 – Making $80K per year as a laborer
- 08:40 – Hope is not a strategy—it’s for people with terminal illnesses
- 09:30 – Talking about Engelo’s plans for his portfolio
- 10:13 – At this time, Engelo only has 3, residential properties
- 11:25 – Goal for this year is to close 250+ deals
- 11:45 – How Engelo finds his deals?—any means necessary
- 12:53 – Life is about the hustle—keep throwing mud, eventually it will stick
- 13:50 – Profits derived from property investors with a penchant for rentals
- 14:39 – It’s not about leaving a legacy, it’s about helping people
- 16:24 – Google Engelo Romero
3 Key Points:
- Be patient.
- Beware the dangers of refinancing on your property.
- Hustle your ass off.
- Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for.
- Host Gator – Powerful web hosting made easy and affordable.
- Nido Qubein – The CEO Engelo adores
- HipChat — The tool Engleo couldn’t live without
- Square1 and Silicon Valley Bank – The big players in venture debt
Show Notes provided by Mallard Creatives