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b'7 Steps to Your 1st Rental Property
\\nSet a goal. \\xa0Write that goal down and put it where you will see it every day. Reverse engineer your Freedom Number, and determine what it will take to reach that.\\xa0Clayton provides a free resource to help you determine your freedom number. Check it out here.
\\nFind a deal. Use wholesalers, turn key providers, real estate agents, or hunt for deals on your own.
\\nCalculate the Return on Investment (ROI). ROI = (Monthly Rent x 12 months x 0.6) / All in cost of property
\\nTake action! Analyze deals, make offers, and follow through with consistent action. Don\'t get stuck in analysis paralysis.
\\nGet a property inspection. This will help you protect your downside. You will uncover any potential problems with the property and use that information to determine if you want to purchase the property.
\\nFind a property manager
\\nRinse and repeat!At age 13, Clayton saw his dad lose his job. Ever since then he had a fear about money, and he always knew there had to be a more entrepreneurial way of creating wealth. He got into real estate investing to secure a future for his family so they didn\\u2019t have to go through the same financial pain as he did growing up. After years of success building up an enormous amount of passive income through real estate investing, Clayton started Morris Invest because he realized his passion is in helping first time real estate investors learn they don\\u2019t have to just work for a paycheck, and they don\\u2019t need $1 million to achieve financial freedom.
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\\nKey Points
\\nHow to calculate your Freedom Number
\\nGoing from a high profile job as a cable network news anchor, to a full time real estate investor
\\nBe, Do, & Have process
\\nUnderstand your "why"
\\nMoney, people, and a deal - you only need 2 of these to get started
\\nLightning Questions
\\nWhat was your biggest hurdle getting started in real estate investing, and how did you overcome it?
\\nLack of education on where to start.
\\nDo you have a personal habit that contributes to your success?
\\nClayton journals and meditates every morning.
\\nDo you have an online resource that you find valuable?
\\nSlack.com
\\nWhat book would you recommend to the listeners and why?
\\nThe Four Spiritual Laws of Prosperity by Edwene Gaines
\\nIf you were to give advice to your 20 year old self to get started in real estate investing, what would it be?
\\nBlock out all distractions. Buy and hold real estate is the number one way to build wealth.
\\nResources
\\nVisit Audible for a free trail and free audio book download!
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\\nMorris Invest'