E012: Downsizing to Make Room for Better Opportunities with Arlene and Dean Quirk

Based in Milford, Pennsylvania, Arlene Quirk has been a realtor for 22 years now and has been with Keller Williams since 2010. Both Arlene and Dean have backgrounds in food and beverage and hotel management. Arlene went into hotel management for 15 years and Dean went from restaurant management to food administration in the prison system. 30 years out, Dean’s retirement fund gave way for Arlene to jump into real estate investing. They bought a condo as a real estate rental investment knowing that when the market got good, they would sell their house and downsize – and so they did it. Here’s what we talked about: The power of teamwork even when Why you should build a real estate team What made them jump into Renault Leveraging syndication the best way you can The role of culture when choosing where to invest How to realize your vision Episode Highlights: The Power of Teamwork Even if you don't have a spouse or significant other, you can align yourself with a team of people to make your dreams work. That being said, it’s still important to create vision boards and dream boards with your partner to help you figure out where you want to go and where you want to be. This sets you up for success in passive income. There could be sacrifices to be had. In Arlene and Dean's case, they had to downsize their house. Why You Should Build A Real Estate Team Building a real estate team allows you to have a little downtime at the same time. This allows you some space and time to travel and temporarily disconnect whenever you need to. Active vs. Passive Income You can actually buy a house wherein you can rent out the rooms. That way, your housing is free to you and you're renting it out. This is the active way. People actually have to go buy it and they have to take care of the property. And that's probably what 99% of the people think real estate is. But then there's this other way of joining a partnership and letting someone else do the heavy lifting. You provide some of the capital and then receive the same benefits as if you own the whole thing. The Role of Culture When Choosing Where to Invest Culture is really important. That's one of the reasons why Arlene joined KW. It’s how you want to live and how you want to project yourself. It helps develop you as a person and develop your team. How to Realize Your Own Vision Ask yourself how you can get started with something. And if you feel it's not for you, try to keep an open mind so you begin to see the opportunities – which are actually everywhere. Again, you just have to be open. Consider investing in different ways so have a lot more opportunity to delve into different possibilities. Just start somewhere and financial mastery is key. Links:

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E012: Downsizing to Make Room for Better Opportunities with Arlene and Dean Quirk is an episode from Wealth Building With Friends by Bob & Usha with Melanie & Josh McCallen.

This episode is 00:28:32 long.

This episode was published on Mar 30, 2021.

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