Understanding the Real Estate Business with Joe Rullier

It’s every person’s dream to make money while they sleep, but most of us are still trying to figure out how to achieve it. Could real estate be the answer?  In this episode, we have Joe Rullier joining us. He will be helping us understand the real estate world better and also share his career and entrepreneurship journey.  If you have an interest in real estate, this is your opportunity to learn. Joe’s Sports Career and Entrepreneurship journey Joe was drafted by the king in 1998. He was 17 at the time. He moved to the states at 19. He played bass for like 9-10 years, then went to Europe, played in Switzerland, Finland, and Russia. By the time he retired an apartment in Baghdad and a condo in New York. He decided to go back to school in New York to study finance with a Bachelor's in real estate and started working as a broker in New York commercial brokers. At the time, he didn't have 100, $200 million to compete with all the big guys coming in from New York. Fat finger just got to be in front of the product. He could put it together and see some of his friends who are investors and do some projects like that, and he fell in love with a brokerage. Currently, he is into brokerage, and soon he will be starting a company of private lending. His goal is to make money, even when sleeping. Advice for anyone wanting to join real estate According to Joe, location is the most important thing in terms of real estate. If a property is in a good location, even if you overpaid for it, eventually, you're going to do well with it.  Do your study before, you know, due diligence on the effects of the building. Don't cut your corners on that because it costs you 567 $1,000 to get an inspection. Do the inspection and go through the due diligence and do it properly. Making sure that the building is in good shape knowing that you don't have to invest a certain amount of money within the next few years. Joe’s Superpower One of the most significant assets for Joe is knowing what he is weak at and taking the call using the right tool to turn these weaknesses into something strong. He doesn’t lie to himself, and that helps him know when something is not going well.  He figures it out and looks for someone who can help him get better. He is not afraid of spending some money to hire a coach or get the right tools to better himself. Also, he is extremely disciplined and honest with himself. Timestamps [00:28] Getting to know Joe [03:08] How Joe got into real estate and his sports career [06:48] How private money works [08:21] Effects of Covid on Joe’s business? [13:40] Advice on looking to get into real estate [15:29] Joe’s mindset growing up [20:38] Joe’s inner superpower Quotes:  “Don’t just buy a building to buy a building, get the right professional to do your due diligence.” “I'm not smart enough. I hire somebody better than me. Don't be cheap on that. Get a professional.” “Being in sports at such a young age teaches you discipline and the willingness of winning and playing as a team and it teaches you all the right strategies of life.” “I think if you ask a lot of the pros, what they missed from the game after one day retires, not necessary, the game itself, but the commodity and the goals of the competition as a team.” “I don't lie to myself, I know when something is not going well. I figure it out, I figure out who can help me and I'm not afraid to spend some money to hire a coach or get the right tools to be better at that.” “The more honest you are with yourself, the more you could change your outside world. Because if you're not honest with yourself, and you have some kind of ego or something, it's only going to get in your way.” Connect with Joe Website: https://joerullier.com/ LinkedIn: https://www.linkedin.com/in/joerullier/  Facebook: https://www.facebook.com/joerullierCRE  Instagram: instagram.com/joe.rullier