How Lease-Purchase Deals REALLY Build Wealth | Jim Manning

SmartStay Show - Short Term Rental Counsel + Coaching | Airbnb Hosting Tips

Joining us today is Jim Manning, the host of the Passive Wealth Show and the founder and CEO of Doorway Properties. Jim comes to us from St. Louis, Missouri, and he has an incredible story to share about his journey towards financial freedom through real estate investing. Jim's experience as an intern for a self-made billionaire taught him that material wealth alone doesn't lead to happiness.

This realization led him to pursue real estate, aiming for financial success while positively impacting his community. He faced significant challenges, including capital constraints, but overcame them with the help of strategic partners, achieving 3,500 deals across several companies and funds. Jim emphasizes the importance of diversifying real estate strategies, such as lease purchase agreements, which provide passive income by shifting maintenance responsibilities to tenants.

He also redefines retirement as an "income problem" and advocates for impact investing to achieve social good. In a discussion Jim shares valuable insights on finding financial freedom through strategies that align with personal goals and values, making his experiences a resource for those navigating real estate investing.

Things we discussed in this episode:

• Jim's formative experience working for a self-made billionaire and the lessons he learned about the importance of happiness beyond wealth.
• The challenges of scaling a real estate investing business with limited capital, and how Jim and his partner overcame these obstacles.
• The importance of partnerships in real estate investing, with a focus on finding the right combination of capital and hustle.
• Tips for raising capital from high net worth individuals, including the value of a well-crafted presentation.
• The role of hard money loans as an "intermediary" step for real estate investors before transitioning to private lending.
• Jim's mistakes and lessons learned in his early real estate investing, including not becoming landlords and overestimating profit margins.
• The lease purchase model as a strategy for generating more passive income by shifting maintenance and repair costs to tenants.
• Jim's perspective on retirement planning, advocating for an "income problem" approach rather than a "nest egg problem."
• The concept of "impact investing" and using capital to drive positive social change.
• The hosts' and Jim's shared experiences in hosting real estate-focused podcasts and the value of exploring diverse perspectives in the industry.

Get in touch with Jim:

Facebook - https://www.facebook.com/passivewealthshow

Linkedin - https://www.linkedin.com/in/jimmmanning/

Website - https://passivewealthshow.com/

Youtube - https://www.youtube.com/@passivewealthshow

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