Our guest on the show today is Maurice Philogene, who invests and operates apartments, mobile home parks, and multi-family commercial real estate across the United States. When Maurice was just 23 years old he began to think about how he could generate a passive income to achieve greater financial freedom. After buying a condo and watching the one next door with the same floor plan sell for $30 000 a few months later, Maurice became interested in real estate and particularly the concept of equity.
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After that, he immediately began to learn as much as he could on the topic, and 12 short months later had already bought a remarkable 10 properties. Maurice joins us on the show today to speak more about this story, and also share the details about how he just kept expanding upward and onward from it. He talks about how he ended up owning over 30 properties and self-managing them all while still being a father with two jobs! Another big takeaway is the story of how Maurice transitioned into the multi-family world and the huge success he has enjoyed thereafter by drawing on mentorship and overcoming limiting self-beliefs. Now Maurice runs an almost self-sustaining business and uses his time to travel the world. Maurice comes from a family of self-made people and his story is incredibly inspirational so make sure you catch this one!
Key Points From This Episode:
- Some background about Maurice and his career as a consultant in government.
- How Maurice bought 10 condos in a year after finding out about what equity was.
- The fact that Maurice did a brave thing by making such huge moves so young.
- Ways that Maurice learned investment through books and calculated risk.
- Maurice’s journey continuing to buy homes and self manage them until he owned over 35.
- How Maurice exploited the bubble, sold houses, and used the equity to pay others off.
- After his passive income eclipsed his salary, Maurice experienced financial freedom.
- Feelings of discontent and how they lead Maurice to learn about multi-family.
- Maurice’s focus on mobile home parks and how it is his way of giving back.
- The value of mentorship and how it helped Maurice execute 10 transactions in 3 years.
- Motivators for Maurice: his desire to live a free life, not build a huge business.
- How Maurice structures his business using a lot of delegation.
- The value of networking for growing Maurice’s business: he spends 70% of his time on it.
- Maurice’s biggest challenge while transitioning into the multi-family space: limiting beliefs.
- Work habits of Maurice’s that got him to where he is while being a consultant, cop, and father.
- How Maurice is preparing for the downturn: focussing on conservative underwriting.
- Ways Maurice streamlines his business: through self-regulating systems like virtualization.
- How to take care of investors: make sure they are compatible by knowing their goals.
- The role of Maurice’s police and military background plays in his lack of fear.
[bctt tweet=”I didn’t want life to always be about nine to five and then I figured that there must be a way out. — Maurice Philogene” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Maurice Philogene
Maurice Philogene is passionate about living life to the fullest and invests in multi-family real estate as a way to make that possible. Maurice was born in New York, grew up in Boston, went to the University of Virginia and then ended up moving to Maryland. Additionally to being in real estate, Maurice has been in the military for 22 years and has been a street cop for 12. He is also in the consulting space with the federal government and works as a life coach too. As far as real estate goes, Maurice locates, invests and operates apartments, mobile home parks, and multi-family commercial real estate across the United States. He’s focused on conscious capitalism, providing safe and affordable housing for fixed income, veteran, elderly, and other communities in need.
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