386: Starting Out With $200 and Investing for Profit AND Cash Flow With Marcus Maloney (Part 1, Pre-Coronavirus)
From "bad drug dealer" in his youth... to earning a master's degree, then jumping into real estate at age 36 and crushing his first deal!
Today, Marcus Maloney shares his wild ride in Part 1 of two episodes this week. This one was recorded before the coronavirus pandemic, so we don't discuss that topic. Tomorrow, we'll dive into how Marcus pivoted to keep doing deals in these trying times.
In this episode, you'll learn how Marcus used just $200 to launch his career, how he acquired nine rental properties, and how he's completed dozens of local (Phoenix) and long-distance (Chicago) real estate transactions.
He also discusses the strategies he's using to generate leads, how he builds trust with both sellers and buyers, and how he works with acquisition managers, who take a cut of the deals they bring him.
Plus—the guys have a great conversation about performance coaching and why the thing that's holding you back probably isn't something you're going to fix at a real estate boot camp.
Marcus was nice enough to take some time out from riding his Harley to share some of his hard-won wisdom, so say hello to him on the BiggerPockets Forums, where he's a frequent contributor.
And don't forget to subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next show!
In This Episode We Cover:
- How Marcus "flipped piglets" as a boy
- How a rescinded job offer led to him to pursue real estate
- The personal development he had to do to become a successful real estate investor
- Direct mail marketing
- Closing deals on the phone
- Attracting partners by creating valuable content
- Why Marcus lives in Phoenix but buys rentals near Chicago
- What separates successful "bird dogs" and wholesalers from those who give up
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Bookstore
- BiggerPockets Podcast
- BiggerPockets Reviews
- Wells Fargo
- Guild Mortgage
- Rent Manager
- Quicken Loans
- Performance Coach Jason Drees
- Performance Coach Phil Towle
Check the full show notes here: http://biggerpockets.com/show386