How We Met Before Making $1 Million Dollars | Summary and Q&A

TL;DR

Ricky shares how he met his business partner and discusses their rapid success in 2022 through social media networking.

Key Insights

• 🥺 Meeting people through social media, such as Instagram, can lead to valuable business partnerships and opportunities.
• 🦮 Mentoring and guiding others in the real estate industry can be a mutually beneficial experience.
• 🤝 Their success in 2021 and early 2022 is largely attributed to the network they built and the deals they received through social media connections.
• 👨‍💼 Ricky and Nick's goal for 2022 is to expand their business and work with as many partners as possible, offering opportunities for others to learn and earn through real estate deals.
• 🤗 They emphasize the importance of collaboration and being open-minded in the real estate industry.
• 😚 Ricky and Nick pay for all their projects with their own cash and can close deals quickly, providing value to sellers.
• 🫵 They prioritize building relationships with agents and other real estate professionals, rather than viewing them as competition.

Transcript

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Questions & Answers

Q: How did Ricky and Nick meet each other?

Ricky and Nick met on Instagram in 2017. Nick reached out to Ricky with a DM, and Ricky responded with a personal video message, which sparked their friendship.

Q: How did Ricky and Nick transition from their previous careers to real estate investing?

Nick was living in LA and working as a model while running an online personal training business. He became interested in real estate after seeing Ricky's success with the stock market and investing. Ricky mentored Nick during his first property purchase, leading to their business partnership.

Q: How did social media contribute to Ricky and Nick's success in real estate?

Ricky and Nick met most of their business partners and sourced many of their deals through Instagram. By building a strong network and being responsive to messages, they were able to scale their business and achieve significant success.

Q: What was Ricky and Nick's biggest house flip?

Their largest house flip project was a luxury property they acquired for $2.3 million. After investing a few hundred thousand dollars in renovations, they listed the property for $3.9 million and ultimately made a net profit of over $475,000.

Summary & Key Takeaways

• Ricky and Nick met on Instagram in 2017 and developed a personal and business relationship over time.

• They transitioned from different careers to real estate investing together, with Ricky mentoring Nick.

• Social media, particularly Instagram, played a crucial role in their success in 2021 and the beginning of 2022.