Growing passive income can lead you to a life with financial freedom and who doesn’t want that? In today’s #Highlights episode, we look back at our conversations with successful passive investors Jim Pfeifer and Sam Silverman. They share their real estate journey as well as valuable tips on how to become a professional passive investor.
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Jim discusses how he developed his investing strategy and learned the syndication game by taking action and jumping into deals — even if many of these deals were suboptimal. Meanwhile, Sam shares what questions to be asked when you are investing your money for the first time and how you can effectively vet a sponsor. Enjoy the show!
Key Points From This Episode:
- Jim shares details about his journey into real estate.
- Being a passive investor versus syndicating your own deals.
- Hear how Jim has honed his skills and strategy by taking action.
- Leveraging your EQRP or solo-directed 401(k) to get into real estate investing.
- How Jim teaches other people about real estate syndication.
- The benefit of teaching; you learn more about the business as you teach it.
- Sam talks about his background and how he started in real estate investing.
- Why does having single-family homes require a lot of mental time?
- How did Sam start in the syndication business?
- Sam talks about his first project.
- Sam details what he looks for when investing in syndication.
“While that’s not the best strategy, I also think it’s a good strategy sometimes to just take a chance, try something out and see if it works. That’s what I did.” – Jim Pfeifer
“The act of sharing my — what I call my syndication knowledge or experience or whatever you want to call, it’s just been given back to me tenfold by talking to people that have a different perspective. Or don’t really know about syndications. And I learned something every time so I’m really surprised that that happened and grateful for it.” – Jim Pfeifer
“You can take a step back and think, okay, start with the end in mind of where you want to get to versus what you’re doing on daily basis just to push the ball forward a little bit.” – Sam Silverman
“You can take a step back and think, ‘Okay, start with the end in mind of where you want to get to versus what you’re doing on daily basis just to push the ball forward a little bit.’” – Sam Silverman
About Jim Pfeifer
Jim Pfeifer is one of the founders of Left Field Investors, a group dedicated to educating and assisting like-minded investors to negotiate the nuances of the passive investing landscape and world of syndications. Jim is a former financial advisor who became frustrated with the one-path-fits-all approach of the standard financial services industry. Jim now concentrates on investing in real assets that produce cash flow and is committed to sharing his knowledge with others who are interested in learning a different way to grow wealth. Jim not only advises and helps people get started in passive real estate syndications, he also invests alongside them in small groups to allow for diversification among multiple investments and syndication sponsors. Jim believes the most important factor in successful syndication is finding a sponsor that he knows, likes, and trusts. Jim is constantly looking for new investment ideas that match his philosophy of real assets producing cash flow, as well as looking for new sponsors with whom he can build quality, long-term relationships.
About Sam Silverman
Sam is a tech sales leader that has led global organizations of 45+ direct reports. He has leveraged his day job into building wealth through both passive investments and operating multifamily apartments.
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