Dave Lukas Chats with Tom Nardone
131: A Conversation with The Millionaire Real Estate Mailman, Tom Nardone
This week’s Misfit Entrepreneur is tom Nardone. Tom is known as the Millionaire Mailman. He is a great example of ingenuity and the American Dream. He is the co-author of the best-seller, Secrets of Real Estate Millionaires and has been featured on Good Morning America, CNBC, and others.
At age 19, Tom started working for the post office, but according to him, it didn’t take him long to realize that the security entrapment of a “good job” is NOT a lot different from a 30 year jail sentence.
So in 1993, he took some real estate investing courses and bought his first property. But, he realized that he had a huge advantage where others didn’t. Every day, he would see properties along his mail route. In fact, being a mailman, gave him even more huge advantages which I won’t spoil and let him tell you about.
Because of the system he developed, Tom was able to retire at 35. Nowadays, he has purchased over 250 properties and works with and mentors others on their path to real estate investing success.
The lessons he will share with you will not only help you if you invest in real estate, but also in your business as well.
Get Tom's Free Ebook on How to Make $10,000 in Your First 90 Days in Real Estate: Text Mailman to 31996
Tom started working as mail carrier in 1979. After 5 years, he and his wife wanted to find a way for her to be a full-time mom. And one mailman’s paycheck wasn’t going to make it work. So, Tom went to a few real estate seminars where he met a couple mentors that were real and doing the business. They helped him to realize that he was in the neighborhoods everyday where he got to look at houses and start a real estate business doing what he was doing every day.
He got started by buying run-down, foreclosed houses on his mail route. He slowly fixed them up and rented them out and after 10 years, he woke up and realized that he had enough cash flow that he could go full time.
At the 6:30 mark, Tom reveals more about how found and got his homes…
What is different between the crisis in the 80’s and what we saw in 2008/09 with real estate and what are you seeing in the market now?
Tell us about your system. How do you find properties and make them profitable?
Where can an investor get a list like you mentioned?
What is he criteria you look for in a deal?
At the 26 min mark, Tom talks about wholesaling and how you can make money that way.
How does someone purchase a property if they don’t have the ability to do an all cash offer?
Talk to us about renting…
Thoughts on AirBNB?
Any other tips and tricks?
What have you learned from real estate investing that translates well to running a business?
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