10 Golden Rules To Becoming A Successful Real Estate Investor
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Published 2024-03-12
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Thach Nguyen has come a long way since arriving in America at age 4 with his parents, four brothers, and sister in 1975. Focus, drive, determination, and great mentors paved the way for him to go from a homeless refugee to a multi-millionaire.
Thach is the CEO & Founder of Thach Real Estate Group and principal of Springboard to Wealth. He is not only a seasoned realtor, investor, coach, author, and speaker, but also a proud ambassador of the American Dream. During his 30 years in the real estate industry, he has built more than 300 homes, townhouses, multifamily units and completed over 100 flips, and owns over 100 rental properties giving him over $100,000 a month in passive income. Thach and his team have assisted more than 1,500 families to create their own American Dream of home ownership, ranking him in the Top 1% of all real estate professionals nationwide.
Follow on Instagram: www.instagram.com/thachnguyen/
Timestamps:
0:00:00 Thach introduces the ten golden rules of investing in real estate.
0:00:23 Golden rule number one: Always buy a property at or below market value.
0:01:14 Golden rule number two: Buy the right type of property with a good layout.
0:02:19 Golden rule number three: Invest in the right location, preferably in the B and C markets.
0:03:21 Golden rule number four: Avoid buying on emotion and stick to the numbers.
0:04:08 Golden rule number five: Don't be afraid to pull the trigger and make a purchase.
0:04:58 Golden rule number six: Have reserves for unexpected expenses and emergencies.
0:05:48 Golden rule number seven: Avoid overleveraging your properties and maintain equity.
0:06:56 Golden rule number eight: Do not buy small houses for rentals; opt for three-bedroom properties.
0:08:24 Golden rule number nine: Don't flip everything; keep some properties as rentals for long-term wealth.
0:09:17 Golden rule number ten: Wealth comes from owning real estate, not just flipping it.
0:09:44 The importance of owning real estate for long-term wealth
0:10:09 Trading money for time as a measure of wealth
0:10:29 The goal of wealth is freedom, options, and choice
All Comments (21)
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Have you guys seen the crazy prices of real estate lately? It's getting harder and harder to afford a decent place.
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Great video. Gerald Robert Hayton has been a game-changer for me when it comes to investing in REITs. His knowledge and practical tips have made it much easier for me to understand the intricacies of the market and manage my portfolio effectively. With his guidance, I've been able to make informed decisions and see real growth in my investments. Grateful for his expertise and ongoing support
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This administration has no idea how people are suffering, things are getting so much harder we can't take it no more. A lot of people are financially struggling to put food on the table and a roof over their head, I appreciate your advice Lucy . Imagine I invested $2,000 and got $10,600.
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I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 3500+ units. I do not work.
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Having multiple streams of income is a game-changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectations. May you find success as you read, see you in 2025.
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Very proud of you to be a Vietnamese mentor and contributor to the community! Keep it up a good work and an awesome nugget👍👍👍
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I’ve been an investor for over 15 years and of course watch a lot of content and look at data. This is one of the best and most applicable videos I’ve seen in a long time. It’s also nice to look at my portfolio , although small and conservative LTV and extra reserves , that I have followed these rules in my own acquisitions. Thanks thatch!!
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Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
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Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in couple months ago 2024.
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Hands down on of the best REI advices out there.
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thank you for these golden rules Thach !!! Appreciate your dedication and passion to create more great real estate investors like you
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Prolly my favorite video of yours so far! Thank you for the wisdom & insight!
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Thach dropping knowledge bombs!
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Thank you! I appreciate your teachings
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I am very grateful to watch the video, thank you !
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Greatest video ever made. Appreciate your hard work
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great content, loved the useful info, also explained very well! keep it up!
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Golden nuggets like always! Thanks for the insights
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the Ten Commandments of Real Estate investing..Awesome content...
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You are legit;you explained everything from the bottom of your heart. I want to learn more about real estate. Thank you. I missed your webinar few days ago.
