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Episode 67 – Investing in real estate with Millionaire Mailman Tom Nardone
Enjoy this week’s Real Estate Success Podcast, with special guest, Tom Nardone, as we discuss investing in single family homes. We recorded this from Tom’s barn near Parkland, Florida and it was a lot of fun!
“Failure makes you stronger, don’t let fear & failure keep you from investing”
[bctt tweet=”Don’t let the fear failure keep you from your future.”]
Here is some of our discussion you will want to check out:
- Some of Tom’s early mentors include: John Schaub, Jack Miller, Peter Fortunato and Jimmy Napier
- Positive monthly cash flow is the #1 key factor when investing
- Tom’s best deals have been mobile homes on land
- Opportunities in South and Central Florida markets
- Stop throwing leads away and learn to creatively solve problems
- What Tom would do different when he was investing at a younger age
References:
Visit Tom on his Millionaire Mailman website:
About our guest: Tom Nardone “The Millionaire Mailman”
Tom Nardone is an example of pursuing the American Dream of financial freedom. At age 19, he started working for the Post Office as a mailman. It didn’t take him long to realize that the security entrapment of “good job” is not a lot different from a 30 year jail sentence. “You feel trapped, and your income is limited.” Realizing his “good government job” was not going to make his dreams of being financially free come true, Tom took some real estate investing courses and bought his first house in 1983 at just 23 years old. Shortly thereafter he recognized a valuable asset available to him that his real estate investor competition did not have.
What do mailmen do? They drive or walk around all day long and they look at houses!! Tom started buying houses on his mail routes and networking with other letter carriers to refer to him vacant houses that provide an excellent source of leads that no one else knows about!! When someone goes into foreclosure, before the Lis Pendens and the Complaint are filed, the only people who know that the house is headed for foreclosure are: #1) The borrower who can’t make the payment, #2) The lender who didn’t get the payment, and #3) The mailman who has to deliver the certified letter sent from the mortgage company to the borrower, and gets to walk up to the front door and stare the person on title right in the face!!
Tom said, “When I bought my first few houses, my fellow workers started calling me “Millionaire Mailman”! While still walking his mail route, Tom built a portfolio of 25 “keeper” rental houses with positive cash flow and retired from his job at the ripe old age of 35. Tom said, “When I finally quit my job, my fellow workers were coming back to me begging me to teach them how I did it.
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