55 min
How to Join a Real Estate Investment Group Authentic Business Adventures Podcast
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- Entrepreneurship
Derek Dombeck - The Generations of Wealth
On the Challenging Relationship Employers Are Forced Into: "Speculation and appreciation doesn't pay your bills or keep your family fed. It looks beautiful on a spreadsheet ,on a balance sheet, until things go the other way."
Real Estate Investing is a powerful tool for growing your wealth, as well as building a legacy for you and whomever you would like beyond your life.
But some real estate investors just want to invest in real estate, and not deal with tenants, painting, plumbing issues, 3am phone calls and the paperwork that comes with owning property. Some investors prefer to just invest their money, get a decent return and continue the process of having their money work for them.
Derek sheds light on innovative solutions for storage unit businesses, his own path in the real estate industry, and the importance of understanding local markets and regulations. We'll explore the nuances of investing in places like Madison and Milwaukee, and uncover why he advises starting with single-family properties and values local real estate investor associations.
With the launch of his Generations of Wealth podcast slated for March 14th, Derek is set to share his comprehensive approach to wealth, which extends far beyond financial gains. You'll learn about his commitment to helping Wisconsin locals navigate the real estate market without hidden costs or tricks.
We'll also delve into the significance of effective communication and negotiation in closing deals, both in real estate and beyond, and the challenges posed by the evolving landscape of customer service in an AI-dominated world.
Whether you're dealing in duplexes or many door count multifamily properties, this conversation boasts invaluable insights, including Derek's tales of overcoming adversity during the 2007 market crash and how building relationships can form the backbone of any successful business venture.
Listen as Derek explains how to get into the real estate investing game without having to get dirty into the real estate investing game.
Enjoy!
Visit Derek at: https://thegenerationsofwealth.com/
Podcast Overview:
00:00 Passing on real estate wisdom to future generations.
06:25 Speculation doesn't pay bills, control business.
12:26 Ethical real estate broker helps sellers profit.
18:26 Structuring installment sale, focusing on mutual benefit.
21:57 Suggest talking to professional for personalized tax advice.
29:18 Reluctantly filed bankruptcy, stood by decisions.
33:40 Risky debt led to starting lending company.
37:33 Networking in person is more effective.
46:20 Shows, wealth.com, contact info, investing experience, Wisconsin.
49:31 Embracing diversity, solving problems, and staying humble.
55:14 Start small in real estate; seek local advice.
01:00:47 Authentic Business Adventures introduces successful business owners.
Podcast Transcription:
Derek Dombeck [00:00:00]:
I have to call people. What if they answer? And and I said, okay. Let's look at it this way. Twist your mindset. If you know you have the skills to help somebody and you choose not to call them, you are by default harming that person.
James [00:00:17]:
You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. Downloadable audio episodes can be found in the podcast link found at draw in customers.com. We are locally underwritten by the Bank of Sun Prairie. Today, we're welcoming slash preparing to learn from Derek Dombek,
Derek Dombeck - The Generations of Wealth
On the Challenging Relationship Employers Are Forced Into: "Speculation and appreciation doesn't pay your bills or keep your family fed. It looks beautiful on a spreadsheet ,on a balance sheet, until things go the other way."
Real Estate Investing is a powerful tool for growing your wealth, as well as building a legacy for you and whomever you would like beyond your life.
But some real estate investors just want to invest in real estate, and not deal with tenants, painting, plumbing issues, 3am phone calls and the paperwork that comes with owning property. Some investors prefer to just invest their money, get a decent return and continue the process of having their money work for them.
Derek sheds light on innovative solutions for storage unit businesses, his own path in the real estate industry, and the importance of understanding local markets and regulations. We'll explore the nuances of investing in places like Madison and Milwaukee, and uncover why he advises starting with single-family properties and values local real estate investor associations.
With the launch of his Generations of Wealth podcast slated for March 14th, Derek is set to share his comprehensive approach to wealth, which extends far beyond financial gains. You'll learn about his commitment to helping Wisconsin locals navigate the real estate market without hidden costs or tricks.
We'll also delve into the significance of effective communication and negotiation in closing deals, both in real estate and beyond, and the challenges posed by the evolving landscape of customer service in an AI-dominated world.
Whether you're dealing in duplexes or many door count multifamily properties, this conversation boasts invaluable insights, including Derek's tales of overcoming adversity during the 2007 market crash and how building relationships can form the backbone of any successful business venture.
Listen as Derek explains how to get into the real estate investing game without having to get dirty into the real estate investing game.
Enjoy!
Visit Derek at: https://thegenerationsofwealth.com/
Podcast Overview:
00:00 Passing on real estate wisdom to future generations.
06:25 Speculation doesn't pay bills, control business.
12:26 Ethical real estate broker helps sellers profit.
18:26 Structuring installment sale, focusing on mutual benefit.
21:57 Suggest talking to professional for personalized tax advice.
29:18 Reluctantly filed bankruptcy, stood by decisions.
33:40 Risky debt led to starting lending company.
37:33 Networking in person is more effective.
46:20 Shows, wealth.com, contact info, investing experience, Wisconsin.
49:31 Embracing diversity, solving problems, and staying humble.
55:14 Start small in real estate; seek local advice.
01:00:47 Authentic Business Adventures introduces successful business owners.
Podcast Transcription:
Derek Dombeck [00:00:00]:
I have to call people. What if they answer? And and I said, okay. Let's look at it this way. Twist your mindset. If you know you have the skills to help somebody and you choose not to call them, you are by default harming that person.
James [00:00:17]:
You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. Downloadable audio episodes can be found in the podcast link found at draw in customers.com. We are locally underwritten by the Bank of Sun Prairie. Today, we're welcoming slash preparing to learn from Derek Dombek,
55 min