EP.178 Breaking Free from the W2: Real Estate Success with Donnie Coram

Episode Description: In this episode of the W2 Prison Break Show, host Brian O'Neill welcomes Donnie Coram, a successful entrepreneur and real estate coach. Donnie shares his transformative journey from a W2 job at HP to becoming a thriving real estate investor. Listen in as Donnie discusses his first real estate deal, overcoming fears, and his 5F system for flipping foreclosed homes. Don’t miss out on the valuable insights and actionable steps to start your journey in real estate investing.

Key Takeaways:

1. Journey from W2 to Real Estate:

   • Donnie’s realization moment: Falling on ice and preferring injury over going to work made him realize he needed to leave his W2 job.
   • His first deal: Flipping a house with a colleague, leading to a profit of $17,846.32 and setting the stage for his real estate career.

2. The Importance of Partnerships:

   • Donnie’s first partner brought funding, while Donnie found the deal. Despite both lacking construction skills, they successfully sold the property.
   • Highlighted the importance of collaboration and finding the right partner.

3. Foreclosure Market and Opportunities:

   • Foreclosure investing is becoming more relevant due to the current economic climate.
   • Donnie’s 5F system (Find, Figure, Fund, Fix, Flip) helps investors navigate the foreclosure market successfully.

4. Addressing Common Fears:

   • Fear of losing money and fear of the unknown are common barriers.
   • Importance of hiring a coach to mitigate risks and provide guidance through the process.

5. Coachability and Action:

   • Being coachable and willing to take advice is crucial for success in real estate investing.
   • Importance of taking massive action and being ready to learn and adapt.

6. Finding Deals:

   • Utilizing resources like HUDHomeStore.com to find foreclosed properties.
   • Leveraging marketing strategies and networks to locate profitable deals.

7. Systematic Approach to Real Estate Investing:

   • Donnie’s system aims to generate consistent profits with minimal risk.
   • Clients are guided through the process, with an average target profit of $25,000 per deal.

Connect with Donnie Coram:

• Visit ForeclosureDealsCoach.com to learn more about Donnie’s coaching program.
• Schedule a call with Donnie to discuss your suitability and get started on your real estate investing journey.

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