Aug 14, 2018
Have you ever failed at anything? If you have, that failure may actually point you in the right direction and encourage you to take risks that payoff. After failing at college, Tom Cafarella thought about what he wanted to do - earn enough passive income to not have to work. He has built up a passive income portfolio to where he does not have to work much. However, it turns out that he loves to work and puts in 80-90 hours each week because he enjoys real estate so much.
Tom had strong mentors in his life to show him the way to make his dream of passive income come true. While growing up, the only person he knew who had a decent amount of money was his grandfather, who worked minimum wage jobs his whole life. But the one thing he did do was buy multifamily real estate in and around the Boston area. He was the only person Tom knew that really didn't have to work that hard. Tom decided to follow in his grandfather’s footsteps. He decided to go after it because he always wanted to be a passive income investor and buy multifamily properties.
Topics on Today’s Episode:
Links and Resources Mentioned:
“I'm a pretty entrepreneurial person, very entrepreneurial. It (college) was kind of just like trying to fit a square peg in a round hole type of thing, and I wanted to get into real estate.” Tom Cafarella
“If you can model what other successful people do, it gets you there so much faster.” Corey Peterson
“I think that anybody who's in real estate is very fortunate because most professions, people get up, they hate what they do, but real estate is truly fun.” Tom Cafarella
“You'll get kicked in the teeth less, if you have somebody who's already been through the fight themselves.” Tom Cafarella
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