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Episode 66
It's not often that you can have such a far-reaching conversation from real estate investing to baseball and everything in between with a podcast guest.
But this week I did. My guest, Michael Dominguez, shares his best and sometimes contrarian advice on what it takes to build a brand in real estate and a successful real estate investing business that can fund a life you want - your best life.
Why you've got to check out today's episode:
When you cater to all sorts of things, your messaging gets mixed up, confusing people with what they should come to you for.
But when you niche down and clearly define your personal brand, people seek you out for their specific needs, which you have in-depth knowledge about. And for which you can surely impact them and give the best possible results.
And you don't be the one to chase down leads; instead, people come lining up to meet you.
Today on the 'personally brandtastic' podcast Michael shares how you can have the opportunity to build wealth and become successful with your real estate personal investing brand owning not dozens or even ten properties. Instead, one or two can do the magic for you.
How is that possible? Let's listen to this episode and discover how he is living his best investor life.
3 Rs Read Resource Reflect
Read:
Die with Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
Resource:
Notebook
Reflect:
"Most people overestimate what they can do in one year and underestimate what they can do in ten years." - Bill Gates
Michael Dominguez is an award-winning sales representative, a member of the RE/MAX Hall of Fame, and the founder of Doors to Wealth Real Estate Group, a team of realtors focused on educating and assisting people in investment real estate. After becoming a realtor in 2008, Michael bought his first investment property and proceeded to add it to his portfolio for 10 consecutive years. Throughout his realtor career, he has completed over 300 investment property transactions. Learn more at www.armchairrealestatemillionaire.com.
In his book Armchair Real Estate Millionaire, investor realtor Michael Dominguez provides the roadmap to crafting a portfolio of quality investment properties for positive cash flow. Filled with expert wisdom and a straightforward approach, this is your simple guide to property investment that creates consistent and sustainable wealth and savvy retirement planning—without taking over your life.
Financial freedom with property investment isn't about owning 100 doors. You want a fun life, not a frantic one! You just need a few quality houses, a couple of hours a week, and a comfy armchair!
Filled with expert wisdom and a straightforward approach, this is your simple guide to property investment that creates consistent and sustainable wealth and savvy retirement planning—without taking over your life. Investor realtor Michael Dominguez provides the framework to become a millionaire in 10 years with positive cash flow property and minimal risk.
And also discover:
Real estate should fund your life, not run your life. Read Armchair Real Estate Millionaire and join the Triple Crown Club today!
Connect with Michael Dominguez:
Business Optimizer:
Connect with Paul Copcutt:
Topics Covered:
02:40 - What led him to the real estate space as a realtor
03:50 - How he defines success with his stature now
05:03 - Tax challenges he's facing brought about by his dual citizenship
06:41 - What helped drive his personal and professional growth and sharing his life experiences
09:37 - Making things happen
10:51 - A leap of faith in an uncertain time into real estate
12:56 - Important thoughts on realtors being investors and dialing in into his real estate personal investing brand
15:04 - Becoming more investor-focused now than a realtor
16:29 - Paying it forward in the real estate investing world
21:22 - Branding lessons as a real estate investor and becoming an expert at what you do
23:54 - A business model that withstood the pandemic
27:07 - Becoming successful at real estate investing even with just one or two properties
28:31 - Investment strategies for first-time buyers and advice for investors finding passive investors
33:38 - A strategy that doesn't take as much time but will help you reach financial freedom
35:04 - Valuable thoughts on the government's initiative on the current housing situation and real estate
37:03 - Advice to someone interested in flipping, getting into short-term and midterm rentals
44:24 - Building relationships in growing his real estate business
45:33 - Thinking of your business in longer terms
46:31 - A favorite personal brand that he likes for his level of confidence and success
47:49 - Book resource that encourages him to live his best life
50:33 - An old-school tool that has worked for him
52:08 - A quote he lives by when it comes to accomplishing goals
54:15 - Talking about his book: Armchair Real Estate Millionaire
Key takeaways:
"Branding has been an integral part of my growth as an investor, and I learned a valuable lesson early on, to make your business grow larger; make your focus smaller." - Michael Dominguez
"Where my niche was, I stayed within my lane. And all of my promotions; all of my efforts - the shirt I was wearing, everything was related to constantly promoting myself as the expert." - Michael Dominguez
"Learn what potential investors might be looking for and their goals. I advise any realtor to start building a team of people in your community that you can now recommend so that you're the everything for that person, and eliminate any opportunities for the buyer to dismiss it." - Michael Dominguez
"As much as I love getting a deal, finding the right, quality property, quality location is my most important factor." - Michael Dominguez
"My advice to anyone getting started is, to become the market expert in one or maybe two towns. And once you can convince the person that you are the expert in that area, it will go a long way to giving credibility to having potential investors decide to invest their hard-earned money with you, because you are the expert." - Michael Dominguez
