Episode description
Episode description
CJ Calio's story begins with him working as a well-paid, labor-intensive UPS driver. However, a particularly busy Christmas season where he couldn't see his family for months made him realize that he couldn't continue doing this job for the rest of his life. After discussing his frustration with his wife, she suggested looking into real estate as a potential income replacement. Although initially hesitant due to his lack of knowledge and pride, CJ eventually came around and supported his wife's idea. Together, they started attending networking events and learning about real estate strategies. CJ initially felt out of place and afraid to engage with others, but as he immersed himself in the industry, he realized that it was a legitimate opportunity for financial success. They took a leap of faith and purchased a property, eventually realizing that it was generating income. This success propelled CJ into becoming a leader in the real estate industry. He and his wife rapidly grew their portfolio, enabling them both to leave their previous jobs. As word spread about their achievements, CJ found himself mentoring others who were interested in achieving financial independence through real estate. After five years of mentoring, CJ and his wife have helped numerous individuals overcome their fears and start building their own portfolios of passive income. They are thrilled to be a part of this journey and continue to empower others to achieve financial success in real estate.Connect with CJ Calio: https://www.instagram.com/wnnproperties/
Key Topics and Bullets:
- Leveraging social media and joining REI meetup groups and mastermind groups
- Building a list of team members including agents, lenders, property management, and loan officers
- Presenting oneself seriously and being genuine on social media
- Establishing credibility by getting on the phone with people quickly and introducing oneself as a real investor
- Organic growth of team building efforts and being authentic about current status and goals
- Some people taking time to believe in the speaker, but maintaining communication with them
- Focusing on cash flow and buy and hold strategy from the beginning
- Seeking a stream of income that can replace job income
- Success with the buy rehab rent, refinance, and repeat (BURR) strategy
- Scaling portfolio in single-family and small multifamily properties
- Spouse becoming overwhelmed as portfolio grew
- Applying expertise in other areas and gaining confidence from experience
- Expanding into commercial real estate investing, specifically in retail, strip malls, office space, and medical space
- Applying same strategy but on a larger scale in commercial properties
- Discussing different types of commercial properties owned, including an office, a medical facility, a government building, and a mixed-use space
- Contrasting commercial properties with residential properties in terms of evaluation and return on investment
- Starting with inner circle and having conversations with people they trust
- Receiving honest feedback from family and friends and shifting focus to what's in it for others
- Overcoming initial perception of being a salesman and emphasizing benefits for others
- Belief that they needed to work long hours to deserve income, but shifting mindset to prioritize productivity
- Mentoring from someone with experience helping change mindset and focus on productivity
- Having more time to spend with family after shift in mindset
- Finding dealing with businesses and commercial entities intimidating, particularly technical aspects such as leases
- Need for legal assistance due to lack of standardization in commercial leases
- Focus on acquisition...