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For Marco Santarelli, founder of the California-based Norada Real Estate Investments and host of the popular “Passive Real Estate Investing” podcast, true wealth is not just about finances. Wealth is “a measure of time, not money,” Santarelli said during a recent interview.
Santarelli made his first real estate investment at age 18, and founded Norada in January 2014.
“Norada has been a major force in putting ‘turnkey’ real estate investing on the map,” Santarelli said. “Investors looking for help and guidance seek our services when they want to invest without doing all the heavy lifting. They often lack the time to go it alone and assemble a trustworthy team to work with. We’ve done all that for them.”
One of the benefits of working with Santarelli and his team is that they are “market agnostic,” he said.
“We are not married to any specific market. In fact, we’re not married to anything—including builders, rehabbers, property managers, lenders, inspectors, etc. This is a huge benefit to investors because we only make recommendations based on their financial goals and investment criteria.”
All members of Norada’s staff are real estate investors who want to help people succeed, Santarelli added.
“I love that I can help hundreds of people create true wealth, which for me is financial freedom that provides time freedom — our most precious commodity. I don’t have to do what I do, but I do it because I love real estate and I love helping people achieve what I’ve been able to achieve in a few short years.” Santarelli hopes to help save others time, money and avoid pitfalls.
“The wealth formula is simple, but having the right process will save time and avoid costly mistakes, which I’ve made long ago. When we can show others how to create wealth and lifelong passive income, that is truly a winning formula that provides generational wealth.”
Major influences behind Santarelli’s personal and professional success are not necessarily formal mentors, but the many real estate, business, finance, and personal development books he’s read over the years. Two of the books that helped him the most are Tony Robbins’ “Personal Power” and Napoleon Hill’s “Think and Grow Rich.”
If Santarelli could give only one piece of advice to beginners in real estate investing, it would be for them to educate themselves as much as possible. “Knowledge is the new currency,” he said. “It’s my first rule of successful real estate investing.”
Additional advice would be to work with professionals to avoid common pitfalls, such as only investing in one’s geographic backyard (i.e. your local market). “Nothing is further from the truth,” Santarelli said.
“The greatest hurdle people have when investing out-of-state is their mindset and psychology. It’s no different than investing in Coca-Cola stock knowing their head office is in Atlanta and you live in San Diego.”
“Once you get started and purchase a few properties, you’ll realize that you never have to visit it physically. Everything is done through your team and especially your local property managers.”
“Invest your cash where it generates the greatest returns for you. This is particularly true for those living in more expensive markets such as those along the U.S. coast. Out-of-state rental properties are the only real solution for many investors in order to see favorable cash-on-cash returns.” Santarelli offers three additional pieces of advice for investors, especially those just starting out.
1. Get started as early in life as you can
2. Increase your income as soon as possible to put towards investing
3. The financial system is designed to work against you, and real estate is one of the few ways to beat the system
To learn more about Marco Santarelli and Norada Real Estate Investments, visit www.NoradaRealEstate.com or www.PassiveRealEstateInvesting.com Many free resources are available on Norada’s website, including “10 Rules of Successful Real Estate Investing” and “The Ultimate Guide to Passive Real Estate Investing.”
Norada’s headquarters, in Laguna Niguel, California, can also be reached during normal weekday business hours by phone at: (949) 218-6668 or (800) 611-3060.