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Today we have Mark Owens who was able to quit his day job in the early 2000s leveraging his rental portfolio which eventually grew to over 100 units including some mod-sized apartment buildings. He has also wholesaled about 200 deals.
Mark Owens began his investment career in 2002 in Baltimore, Maryland. At that time he was a Microsoft Certified Trainer teaching upper level computer classes in colleges all over Maryland. Within a few short years he was able to leave the job and focus on growing his rental portfolio. Since then he has acquired over 100 rental units including some mid-size apartment buildings, wholesaled close to 200 deals and done a few retail flips. Mark has figured out a way to run his business around his life- not the other way around. He spends much of his free time coaching, speaking, hiking, scuba diving, and flying planes.
Episode Highlights:
- Buy rentals and build your passive income. As soon as the market slows down the first people to suffer are wholesalers because deal flow will stop.
- Whenever the economy enters a recession Mark has been able to raise rents and benefit as people in Class A neighborhoods move to Class B and B moves to C and C wants to stay in C, creating more demand for Class C properties.
- Don’t live beyond your means. If your real estate business hits a rough patch and income dries up for a little while, you need to have capital to weather that period. The first people that go out of business are the ones that did not defer gratification, and spend all excess cash on doo-dads like jet skis and expensive cars.
- Always set up your business so that you can work from the beach using a cell phone and laptop. Do this by putting together a boots-on-the-ground team of contractors to manage your properties.
- The most important key to succeeding in any real estate business is to build a strong network and solid reputation. Without one or the other, you won’t get very far.
Helpful Links:
https://markowens.com/
https://www.facebook.com/groups/420244028368348/
Best Way to Contact Mark:
mark@markowens.com