Create Passive Income
Lane Kawaoka, sophisticated real estate investor, started his journey back when he was in his early 20’s. Like most Americans, he was taught the traditional wealth building dogma: work, save money, and buy a house to live in. With a job that kept him consistently on the road, Lane used his first home primarily as a rental. It wasn’t long before Lane realized he could quit his job and make a lot more “beer money” if he had a few more places to rent. 10 years and 3,500+ properties later, Lane has created a larger stream of passive income than he could have ever imagined.
According to Lane, the most important thing for anyone who is interested in real estate investment is to educate yourself on how to become sophisticated in it. Too many people think that buying a house to live in or buying homes in “sexy markets” is the way to making top dollar on an investment. Lane says that the best markets for investors are the secondary and tertiary markets which are often not close to where you live.
Tune in to this week’s episode of ValueVerse to hear more about Lane’s journey, the rules of smart investing, and how to make your piles of cash flow!
“Then I realized that sophisticated investors don’t buy properties in Seattle, California, Hawaii, New York, Boston.. all these sexy markets, they buy off cash flow.” (03:31-03:41)
“Sophisticated investors are able to create teams of property managers remotely and run this stuff remotely. After all, they’re buying commodities.” (07:40-07:48)
“When you own your own house you’re the one putting your heart, sweat, tears, and sweat equity into paying that damn thing off and paying down your mortgage. But when you own a rental, this family is doing that for you.” (09:07- 09:20)
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