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Real Estate Rookie

183: Ditching the "American Dream" & Finding Ways to Live a Wealthier Life

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 18 May 2022

⏱️ 68 minutes

🧾️ Download transcript

Summary

In today’s episode, you’ll get to see the third major reason why Alpha Geek Capital, Tony’s fast-scaling real estate company, is so successful. Omid Tehranirad is the third partner in the group, acting as the first layer of protection, or as he puts it, the “chastity belt”, of the partnership. Omid is the head of investor relations and splits operational duties with Sara, Tony’s wife.   He discovered real estate after being unfulfilled by the typical “American Dream'' job. His parents encouraged him to pursue the tried and true traditional path that leads to retirement at sixty-five, but after sixteen years at a corporate job, he needed something to change. Omid was looking for something new when he stumbled upon BiggerPockets and discovered the power of real estate investing. He already knew Tony since he was Sara's cousin, but it wasn’t until they found out they both followed David Greene that they realized they could be making money together. From there, they did their first deal and as the saying goes, the rest is history. Omid and Tony work well together because they complement each other’s skillsets. Where Tony is idealistic, Omid is realistic and together they reach each goal they set. Omid has been able to leave his corporate nine to five of eighteen years and increase his wealth overall—his financial wealth, social wealth, time wealth, and physical wealth. For the first time in years, he’s able to drop his kids off at school, prioritize his physical health, and travel while still making money. Omid serves as proof that we all need to stop classifying wealth as just financial and realize true wealth is about finding your freedom. In This Episode We Cover Breaking away from the traditional “American Dream” (and finding something even better) The BRRRR method and how to a find low-risk rehab How to prepare to transition from a fixed income to a variable income  How to structure a partnership and prioritize partner alignment  Understanding cash flow and making the numbers work for you Identifying a client’s need and how to create a mutually beneficial relationship and partnership And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Youtube Channel Real Estate Rookie Podcast Real Estate Rookie Facebook Group Real Estate Rookie Bootcamp Airbnb BiggerPockets Forums Alpha Geek Capital David Greene's BiggerPockets Profile Monday.com Wrike Rookie Reply: How Much Cash Flow Do You Need to Quit Your W2? w/Daryl Clinch Daryl Clinch's Instagram Find Money, Partners, & Deals Using The “D.A.D System” w/ Mike Michalowicz Mike Michalowicz's Website Hospitable Rod Khleif's Website Connect with Omid: Omid's Instagram Check out the full show notes here: https://biggerpocket.com/blog/rookie-183 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the Real Estate Rookie episode 183.

0:06.0

Sometimes we gotta be aware of our biases of like, okay, this may not be a place I may want to travel,

0:12.0

but this is the data proves that there's a huge demand.

0:16.0

And so now it's changed my attitude around, okay, just because maybe I don't like this particular vacation rental market,

0:23.0

it may not mean that it's in high demand.

0:26.0

And so I'm going to default to Tony. He's like the geek when it comes to software and it's like,

0:30.0

he busts out all this like data and I'm like, sold, sold, okay.

0:36.0

My name is Ashley Care and I'm here with my co-host, Tony Robinson.

0:42.0

And welcome to the Real Estate Rookie podcast where every week, twice a week,

0:46.0

we give you the inspiration, information, and education you need to become a real estate investor.

0:52.0

So Ashley Care, what is going on?

0:54.0

Not much. I dropped my crutches so I was allowed to get rid of them.

0:59.0

So now I'm just hobbling around.

1:01.0

The hobbling gear.

1:02.0

Crazy.

1:05.0

So I actually took a improv to road trip to Florida last week.

1:10.0

And so I had to have my crutches for about half the road trip and then the second half,

1:15.0

I got to get rid of them.

1:17.0

So it was nice.

1:19.0

Progress.

1:20.0

Shoot Tony. Yeah. What's new? How was your foot?

1:23.0

My foot is also healing.

...

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