Nick Lamagna is an investor and fundraiser who started with fix-and-flips the got into wholesaling, multifamily, and mobile home parks. He primarily invests virtually and has recently delved into land development. He’s also a jiu-jitsu black belt and the host of the A-Game Podcast.
Mark and Nick sit down to discuss the importance of learning through distress, creating your own opportunities, and not making any excuses.
What You’ll Learn In Today’s Episode:
- Vet your mentors! Picking a mentor is a process, not an impulse buy. Anyone can call themselves a mentor and charge you for guidance and wisdom they may not possess.
- Manage your manager. 3rd-party property management is an amazing resource. In theory, an experienced operator can take over the day-to-day operations and free up your time to look for more deals. Take advantage of this, but don’t let them take advantage of you. You still have a role and responsibility to oversee that manager.
- Focus on “how can I,” rather than “why I can’t.” These are two very similar phrases rattling around our brains. One asks a question, the other is a statement. One opens doors, the other shuts doors.
- Things can, and often will, go wrong in an investment. Problems plague all real estate investors, but successful ones know how to use them as a motivator to get better.
“ I had a choice of ‘my life is over, this is just who I am now’ or ‘I’m going to turn this into one the best opportunities in my life.’” – Nick Lamagna
Resources In Today’s Episode:
Books Mentioned In Today’s Podcast
- The One Thing by Gary Keller and Jay Papasan
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