Fri, 8 June 2018
Courage isn’t about being fearless. Courage is about feeling the fear but ‘saddling up anyway.’ When Peter Conti bought his first duplex, he admits that he was shaking. But Peter knew that he had to make a change to life the life he wanted, to be free from the humiliation of a boss who reprimanded him for drinking coffee meant for ‘customers only.’ Peter was highly motivated to leave his job as a mechanic and become a multifamily real estate investor, and that deep desire for financial freedom propelled him to take action.
Peter went from auto mechanic to self-made millionaire in just over three years, using creative financing to invest in both residential and commercial real estate. He started small, buying a duplex, a couple of 4-units, and a 12- and 24-unit before working his way up to shopping centers and 300-unit complexes. He has mentored thousands of investors all over the world and supported many more through his books on multifamily and commercial real estate investing.
Today, Peter sits down with me to describe the moment he decided to take charge of his own financial destiny. He walks us through that first investment in a duplex and the meeting at Chucky E. Cheese that inspired him to invest in a mentor. Peter offers advice around mitigating risk via exit clauses and acquiring property through seller financing or the use of a master lease. Listen in to understand Peter’s unique approach to recovering from a serious motorcycle accident and what he learned in the process that applies to multifamily investing specifically—and life in general!
The turning point that propelled Peter into action
Peter’s first investment in a duplex
How Peter got over the hump to make his next investment
Peter’s advice around mitigating risk
Peter’s guidance around seller financing
Peter’s approach to getting started in commercial real estate
What Peter learned in recovering from his motorcycle accident
What’s next for Peter
Peter’s top advice for aspiring real estate investors
How Peter wants to be remembered
Connect with Peter
Making Big Money Investing in Real Estate: Without Tenants, Banks, or Rehab Projects by Peter Conti and David Finkel
Commercial Real Estate Investing for Dummies by Peter Conti and Peter Harris
Wild: From Lost to Found on the Pacific Crest Trail by Cheryl Strayed
1 Simple Strategy to Escape the 9 to 5 by Peter Conti
Direct download: MB_113-_From_Auto_Mechanic_to_Self-Made_Millionaire_Through_Multifamily__With_Peter_Conti.mp3
Category:Commercial Real Estate -- posted at: 11:41am EDT