274: “Because of These 3 Simple Rules, I’ve Bought Over 600 Units and Never Lost Money” with Paul Morris

What rules govern your real estate investing strategy? For most, it’s a tough question to answer. But not for today’s guest, Paul Morris. Paul, co-author of the bestselling Wealth Can’t Wait, has been investing in real estate for more than twenty years and has never lost money, all because he abides by three simple rules. Today, Paul also discusses the power of mindset in building wealth, the key to investing in emerging markets, and much more. This episode will surely inspire, motivate, and educate you to continue your journey toward financial freedom. In This Episode We Cover: How Paul got into real estate investing Using syndication to do your deals The types of properties he is buying Stick with what you know The three rules Buying where you know How to buy in an expensive area The 24-hour city What’s the barrier of entry on real estate? What is an emerging neighborhood? An interesting story about a keynote speech What is hard work? 10x your goals How we affect others and vice versa Living life to the fullest Hire people who will love you And SO much more! Links from the Show BiggerPockets Forums House Hacking 101: How to “Hack” Your Housing and Get Paid to Live for Free BiggerPockets Money Show Tiger21 Mastermind Group BiggerPockets Podcast 254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of Mentors BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn Books Mentioned in this Show You Can’t Teach a Kid to Ride a Bike at a Seminar by David H. Sandler Wealth Can’t Wait by David Osborn & Paul Morris Set for Life by Scott Trench The War of Art by Steven Pressfield The Influential Mind by Tali Sharot Fire Round Questions I just bought my 1st deal… now How soon can I buy my 2nd property? Is there a waiting period? Where can I find a private lender to fund my real estate deals? Tweetable Topics: “You can’t do everything on your own.” (Tweet This!) “You buy where you know.” (Tweet This!) “The thing that stops people form taking action is the fear of loss.” (Tweet This!) “Your net worth will never exceed your self worth.” (Tweet This!) “What got us here will not get us there.” (Tweet This!) “There’s a lot more hard money out there than there are good deals.” (Tweet This!) Connect with Paul Paul’s BiggerPockets Profile Paul’s Website Paul’s Instagram Profile Paul’s Twitter Profile Paul’s Facebook Page Email Paul Learn more about your ad choices. Visit megaphone.fm/adchoices