173: The Inventor of Turnkey Real Estate 🔑🏘: Marco Santarelli of Norada Real Estate Investments

173: The Inventor of Turnkey Real Estate 🔑🏘: Marco Santarelli of Norada Real Estate Investments

Background on Marco Santarelli of Norada Real Estate:

Marco Santarelli is the host of the Passive Real Estate Investing Podcast and he is also the founder of Norada Real Estate, a premier real estate investment firm offering turnkey investment property in growth markets nationwide.

He purchased his first real estate investment at the age of 18. He successfully handled the entire rehab and property management of his first property without ever taking a course or reading a book on the subject. Marco went on to get his real estate license and sell residential real estate for three years before leaving real estate sales to pursue other active business ventures.

Because of his love and passion for real estate, and desire to help others succeed in building their wealth through real estate investing, he eventually returned to real estate investing and founded Norada Real Estate Investments in 2003.

Time-Stamped Show Notes:

[0:47] Marco Santarelli started Norada Real Estate Investments in 2004, which currently operates all over the US. They are a nationwide provider of turnkey cash flowing rental properties and help people build their real estate portfolios to attain passive income.
[2:04] Marco fully explains what he means about turnkey real estate investment.
[5:05] They are actually not the ones who acquire the distressed properties and fix them up. They partner and work with third-party companies that would find the distressed inventories, fix them up, and hand them over to Norada.
[5:50] The company name Norada has an interesting background story.
[11:41] The only source of income they have today comes from the marketing fees from the sales of properties.
[13:35] People find Norada through several sources. They have an excellent online presence, as well as a podcast that has a good following.
[16:11] Marco emphasizes on the importance of SEO and putting out good online content.
[21:49] At a very young age, Marco knew that he wanted to get rich. It became his mission to learn more about money and wealth.
[23:39] In 1997, Marco and his cousin wanted to create a company that would become the Amazon of the golf club industry. He thought he was going to be successful but things didn’t turn out great for them.
[26:10] Attending the 3-day seminar event of the Enlightened Wealth Institute by Robert Allen was the turning point in his life and it led to creating Norada.
[31:03] For people who have a business and wants to invest in real estate, Marco suggests having and doing both.
[37:27] In 2007, the recession hit and Marco was forced to lay off his whole staff.
[42:34] He learned that he should avoid investing in very distressed areas or C to C minus neighborhood properties. There’s a lot of problems dealing with the low-income demographic.
[47:31] Marco has an important tip for real estate investors when it comes to buying a property based only on appreciation.
[48:55] When it comes to growing the business, he learned that, as a business owner, he should be able to create a system that would automate or delegate tasks.
[56:12] Marco offers a $35,000 piece of advice to the listeners.

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Fabulous 4 Questions:

📖 📚 Favorite Book(s)? Rich Dad, Poor Dad by Robert Kiyosaki, Think and Grow Rich Napoleon Hill
🙌😎 Favorite Amazon.com purchase? My Samsung Camera
🌱💸 Favorite Tool that's GROWN your Business? Probably our CRM ystem
💭💡 BIGGEST Challenge keeping your Business from GROWING? Marketing to reach more people

Key Point from the Interview:

“You’ve got to be able to delegate, and you’ve got to be able to automate, and you’ve got to be able to create systems, because if you can’t do those things, you’ll never be able to grow or scale a business.”

Resources Mentioned:

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