EP038: Why Passive Income Is Never Passive

Daniil Kleyman has been a full-time real estate investor and developer in Richmond, VA since 2009. Daniil currently has 70 units to his name, but at the end of the day, it's really not about the quantity of units you have. When you invest, you want to always invest in quality because you also end up attracting quality tenants.   Key Takeaways: What does Daniil's business look like today? Daniil has never really been much of a flipper, but right now the market has been presenting some excellent opportunities. Passive income is never 100% passive. What market is Daniil currently in and why did he pivot? Daniil can walk to all of his development projects in 30 min or less. The market won't keep going up forever. Real estate will go through cycles. Daniil has about 70 units right now. It shouldn't be about the number of units you have. It should always be about the quality of units. What advice would Daniil give to his past self knowing what he knows now? At the end of the day, business comes with risk. You can greatly mitigate your risk by knowing your numbers. How does Daniil evaluate the deals he receives? What does cash-on-cash return mean? Who manages Daniil's rental portfolio? At what point should investors hire someone in-house? What kind of tools does Daniil recommend to others? What's one piece of advice Daniil always shares with others? Mentioned in This Episode: FlipEmpire.com Access This Real Estate Pricing and Marketing Software! Wholesalers, Rehabbers, and Agents: Know the RIGHT Offer, Sell Your Deals Quickly, Get $$ For Your Projects, and Much More! Episode 34: Lee Kearney Tells You Everything You Need To Know About Market Cycles   Ask Alex A Question: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!   Did you get your FREE Online Course? Text the word EMPIRE to 67076, and we'll send you a link to get instant access to the "5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)" video module training course. Subscribe To The Flip Empire Show, and Leave a Rating & Review!