Great real estate investing advice makes a huge difference!
We had known Michael Dominguez for a while. He helped us purchase our primary residence. We’ve always wanted to get into real estate investing, and Michael guided us along the way. We took an opportunity following Michael’s investing advice and we got into the market.
Michael and his team are known for the property tours. Do you go on them on a regular basis or do they just bring new possible properties and you go from there?
I’ve actually been on a couple of the tours when I was looking, and one when I wasn’t looking. Great opportunity actually to pick people’s brains. There’s a lot of people out there that have a lot more knowledge than I do. It was a great opportunity to sit back and sometimes engage, and other times just sit in the background and gather the knowledge.
I can’t lie, I’ve only been on one. But same thing, huge amounts of knowledge. Now, they also do a monthly report. Do you read that on a regular basis?
I wouldn’t say regular, but I do take a look at them every couple of months. A lot of great information in there. I tend to gravitate towards the things that apply to me in the moment, but Michael always provides a ton of stuff in there that I had no idea of, which is great.
What advice would you give to yourself starting out that you now know?
That you don’t need to know everything yourself, honestly. Go through and meet different people in different disciplines, but surround yourself with a team of people that know it’s impossible to know all the information for one person. I would definitely not allow that to hold me back and surround yourself with good people.
Now, as someone who’s had multiple properties, have you ever gotten one of those dreaded midnight calls?
No, I wouldn’t say midnight calls. We’ve had some dreaded calls. But no, the tenants that we’ve had have been really good. We screen them the best that we can and any emergencies we’ve taken care of in a timely fashion, but nothing in the middle of the night, oddly enough. Hopefully, this isn’t going to lead towards that.
I don’t know that I do much differently than most people. We do all the social media background checks, talking to the references. One of the things that may separate — I do a lot of the qualifying for myself and my partner and one of the things when I’m talking to the references is to just have a conversation with them. You would be amazed at how much information you get from people when individuals let their guards down. And you’re not asking a list of questions, you’re more just engaging in a conversation. That’s been a big help for us.
If someone was looking to get into the real estate game, would you welcome them into the Doors To Wealth family?
Yes, absolutely. The network of people that we’ve met through Michael and Lisa, their knowledge and then the individuals that they surround themselves with has been awesome. It’s alleviated a lot of the strain that can go with being a real estate investor and all the panic that could go with that as well. For sure, absolutely.
Just to wrap up, is there anything you’d like to say in regards to an actual testimonial with regards to the team and how you’ve over the time that you’ve dealt with that?
You know what, it doesn’t take long to gain the confidence in them that they know what they’re talking about, but not that they just expect you to take their word for it. They really guide you through the process, they educate you, which is an approach that is far more beneficial than just taking somebody’s word for it. I think he really liked my comment.