Episode 13 - Paul David Thompson
Real Estate investing can be intimidating. Especially if you have no history in the business, no knowledge of what to expect, and no resources to help you get from your goals to your desired end-result. Enter, a full time real estate investor who has a passion to share his secrets and help you unlock the life you truly desire - Mr. Paul Thompson. This was an interview I thoroughly enjoyed, that unlocked possibilities for me that I have never before thought possible.
Like many of my favorite professionals in Central Arkansas, I met Paul at a function promoting the opening of our BNI Chapter - BNI of the Tiger Little Rock. When he said he was a real estate investor and did not have a license (I am the Realtor in the category), I instantly saw an opportunity to become referral partners with someone who would need me to help them, and who could possibly help me too. I had no idea just how much.
Paul and I have spent the better part of the time we've known each other working up to this podcast, and our current set of offers out for acceptance now. We both had so much going on, we needed individualized goals and clear path - the same for you - the novice investor. Together, we have managed to complete all the edges of the jigsaw puzzle and now we are just looking for the appropriate pieces to fill in the picture.
What Paul does is: teaches, empowers, instructs and guides his clients through the process of understanding the investment they are making. (while at the same time totally killing it as an investor himself). Further, Paul will also explain and instruct what that investment means when you hold it, why you should or shouldn't in the long term, what investments hold more risk and which are more of a guaranteed return. Paul has done the work so you don't have to, and with the podcast and his plans to create an empire with Level Up Mastermind Meetups, all the tools you need to get started investing in real estate are available to you. Like Mr. Thompson said on his podcast, "you always have enough" it's just a matter of recognizing it and taking the action to make your dreams into a reality.
If you would like to get in touch with Paul you can do so on Facebook, via email at Paul@wincorehomes.com or tune into his podcast on iTunes, Ready Investor One. Check out 5 tips below from the two of us for you first time investors:
1) Build a team: Trusted Realtor, trusted home inspector, trusted contractor, trusted 3rd party market expert
2) Make sure the numbers work: Knowing more on the front end is key. If you run into a large issue on the inspection and your margins are razor thin, you might be in hot water!
3) Make a ton of offers: It is not always going to get accepted, in fact when the numbers work for you as an investor they more than likely don't work for the seller. You miss 100% of the shots you don't take!
4) Believe it's possible: You already have enough. The resources are at your fingertips and there is no shortage of information. Financial freedom and a life by design are possible for each of us, BELIEVE it's possible for you.
Until next time, I'm Jamie from the BLOCK and thanks for tuning in!