10 Golden Rules To Becoming A Successful Real Estate Investor

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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.

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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