Show Notes
Ryan had a great chat with real estate investor superstar Andrew Lanoie. He’s given us some great tips to generate passive income, and we thought you should know what they are. Let’s dive right in:
The mobile home market is really underrated
Andrew puts a lot of his focus on investing into mobile home communities. Investors hadn’t really looked into that market for a long time, and Andrew saw a great opportunity here. You should consider looking into it.
Entering into fragmented, underserved fields can lead to amazing scaling
Andrew said that the mobile home market is very fragmented. There hasn’t been a consolidation of businesses in the space into major owner/operators, and it’s only recently that large investors have been paying serious attention to the market.
Andrew is convinced that, if he plays his cards right and executes his plan well, he can become a major player in this space once it matures.
Work with people who know the asset class you’re interested in
Andrew is aware of investor excitement in other asset classes, such as cryptocurrencies. It does interest him, but he’s going all-in on his real estate niche. If he were to enter into another asset class, it would only distract him from the empire he is trying to create.
To ensure the best possible returns, Andrew works with a number of people who really understand the market, and focuses solely on his expertise in this space.
We hope you enjoyed listening to Andrew as much as Ryan enjoyed chatting with him!
Key takeaways:
- The mobile home market is really underrated
- Entering into fragmented, underserved fields can lead to amazing scaling, and
- Work with people who know the asset class you’re interested in
Connect with Andrew
Learn more about Andrew at http://andrewlanoie.com/
