Podcast: Download (Duration: 37:58 — 11.0MB)
On this episode of the Investor Financing Podcast, Beau interviews Ryan Corcoran, a young entrepreneur who’s very successful in real estate, as they talked about having 250 doors/units sold at 28 years old and how to be financially free at such a young age. #wealthcreation
Timestamps
[00:08] Beau introduces Ryan Corcoran on the show and talks about his credentials
[01:30] What is Ryan’s first investment? How is he wealth building with real estate?
[02:44] Quitting W2 job and going full time to real estate
[03:22] What is GP or General Partner?
[05:00] The door count doesn’t mean much
[05:36] Having 250 doors/units sold and being financially free at 28 years old
[06:53] The real play in real estate is to hold long-term and create value in your 1031 exchange
[07:35] Outsourcing property management
[09:12] What did Ryan do when he started buying properties
[10:14] Markets in the Rhode Island
[14:10] It’s very difficult to find a property that is going to cash flow if it’s a duplex or triplex
[14:54] What kind of marketing is Ryan doing?
[16:00] Doing direct mail is about consistency and timing
[16:39] Things to be focused on in 2023
[18:54] Make the money stack the cash and wait for the right buying opportunities
[19:53] Keep your stress level at a certain level
[21:17] Take certain risks in life to advance the needle and do things systematically
[22:16] Start building your cash in the bank
[24:48] Do not look at other people, just worry about yourself
[25:06] Doing real estate is one of the best ways in the world to make a living
[25:44] Come up with a game plan
[26:33] Ryan’s real estate mentors and partners
[27:50] What did Ryan learn from his mistakes in real estate
[28:35] A home run deal story
[30:23] Advice to young professional people who want to be an entrepreneur
[28:35] Get in the room of people doing big things that you want to be doing
[32:15] Join Mastermind groups
[34:11] Where to go to find out more about Ryan