Takeaways from a meeting with Nikolai Ray
Napoleon Hill, the author of "Think and Grow Rich," introduced and emphasized the concept of the "Master Mind" as a pivotal principle of personal success.
Had a really good masterclass yesterday. The guest speaker was Nikolai Ray.
Nikolai is CEO of the MREX, a multifamily real estate investor, luminary, and pioneer. He advocates his love of the "buy and hold" real estate investments forever strategy.
My main takeaways from this meeting with Nikolai. I've put what I heard into my own words.
The main 3 things to focus on as an investor is that you should:
- Never stop buying!
- Manage your assets effectively.
- Hold assets for as long as possible.
The 2 main risks when investing in real estate are:
- Not being able to pay the debt.
- Not being able to refinance or sell.
Avoid analysis paralysis
- It doesn't make much sense to focus on the cap rate for real estate when you can force appreciation
- It doesn't make much sense to try and precisely predict the future. No one has a crystal ball.
It was a good discussion. After listening to a number of seasoned investors in this space you start to hear recurring themes said in different ways. This isn't bad because it makes the signal within the noise clearer and people grasp things when said a certain way.
#multifamily #passiveincome #realestate #cashflow #financialfreedom #financialindependence #realestateinvesting #reignitecapital #igniteyourfi #intentionandfocus