Passive Wealth Strategy Show - Real Estate for Busy Pros

Taylor The Investor

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The Passive Wealth Strategy Show will teach you to build your passive income through real estate investing and the personal finance concepts of the FIRE movement. We focus on real estate because it has features and a track record unlike any other asset class. Join us to learn about real estate syndication, multifamily investing, self storage, turnkey real estate, personal finance, and other financial independence related topics. Let’s escape the Wall Street Casino together.

Passive Wealth Strategy Show - Real Estate for Busy Pros

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1 hour ago

How Engineers Can Apply Knowledge to Real Estate with Nick Sicilian

What unique abilities do engineers have that can give them an edge in real estate investing? Nick talks about his background as an engineer and what drove him to leave his career to pursue real estate investing full-time. He explains how he has leveraged his engineering skills. Nick Sicilian, an experienced Chief Engineer with a demonstrated history of success in the maritime industry. Over the years, He honed his skills in managing diesel generators, steam turbine generators, boilers, and safety management systems. His passion for engineering and problem-solving led me to excel in various technical aspects of the maritime domain. [00:02:29 - 00:06:40] Leaving Engineering for Real Estate Investing * Nick worked as an engineer in the oil and gas industry but decided to leave his career to spend more time with his family. * He cashed out his 401k and jumped into real estate investing full time with his brother who had experience in the field. * Starting out, Nick focused on building communication skills and learning through doing deals hand-in-hand with his brother. [00:06:41 - 00:14:27] Translating Engineering Skills to Real Estate * Nick brought a systems thinking approach to real estate, creating processes and order in his brother's business. * Coming from an engineering background, he was able to analyze deals repeatedly to gain knowledge. * Strong communication skills are key in real estate when speaking to sellers and lenders. [00:14:28 - 00:21:41] Building a Real Estate Business * Nick and his brother keep their team small but mighty, with key players in acquisitions and dispositions. * They scale their business slowly, fully developing processes before bringing on new hires. * Personality assessments help determine if a new hire is a good fit for their needs. [00:21:42 - 00:28:45] Lessons Learned * Nick emphasizes the importance of persistence above all else in real estate investing. * Learning from mistakes and failures are invaluable lessons that should be viewed as education. * Stay focused on seeing each deal through to the end rather than counting profits early. * Best Deal: Wholesaling a property to 1.6 Million in valuation * Worst Deal: A property with a tenant that had to be evicted. * Top lesson learned: Keep going, consistency even if things are not going your way. "You have to keep going. If you're going to try something, you're going to try it, fail, and then keep on trying it until you perfect it." - Nick Sicilian "Learnings from mistakes and failures are invaluable lessons that should be viewed as education." - Nick Sicilian Connect with Nick: Youtube: https://www.youtube.com/@TheSicilianBrothers/videos Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street!