Real Estate Lessons from "Millionaire Maker" Steve Trang

In the fast-paced world of real estate investing, insights from seasoned professionals like Steve Trang are invaluable. As the host of the Real Estate Disruptors podcast, Steve has made it his mission to unlock the secrets of real estate success and create opportunities for aspiring millionaires. His journey from a curious reader of "Rich Dad Poor Dad" to a thriving real estate disruptor comes with many lessons for both novice and experienced investors.

Steve's Journey to Real Estate Success

Steve's path into real estate investing mirrors many others in his generation. After reading "Rich Dad Poor Dad," he realized there was an alternative to the traditional career path. This eye-opening experience led him to start buying properties and eventually transition into a successful real estate career.

It all began when Steve met a realtor who seemed to be making more money with less effort than he was. In witnessing this, Steve decided to get his real estate license. He then progressed through various roles in the industry:

• Short sales and foreclosures specialist

• Brokerage owner

• Wholesaler

After "Rich Dad, Poor Dad"

The book "Rich Dad, Poor Dad" was just the beginning. Inspired by the book's teachings, Steve took his first steps into property investment. He quickly realized the potential for financial freedom and wealth creation that real estate offered. As he delved deeper into the industry, Steve's passion for real estate grew, propelling him to explore various aspects of the field and ultimately shaping his successful career.

Initially working as a realtor, Steve gained essential insights into the real estate market dynamics and client needs. This foundation proved invaluable as he progressed in his real estate journey. Even as a wholesaler, his experience as a realtor made a difference.

When the investor transitioned to wholesaling in 2014, he realized it was his passion. The fast-paced nature of wholesaling deals and the potential for quick profits aligned perfectly with his entrepreneurial spirit and desire for rapid growth in the industry.

As Steve's career progressed, he found himself juggling multiple roles - realtor, podcaster, coach, investor, and co-founder of a financial solution. This diversity presented both opportunities and challenges. To maintain focus amidst these varied responsibilities, Steve implemented strategic approaches:

• Hiring the right people to lead different aspects of his businesses

• Utilizing coaching services for personal and professional development

• Holding regular accountability meetings to ensure progress across all ventures

Despite the success of managing multiple companies, Steve acknowledges that a more singular focus might have yielded even greater results. This realization underscores the importance of strategic prioritization in business growth.

The Real Estate Disruptors Podcast

Steve's Real Estate Disruptors podcast was born from a desire to share valuable insights and create opportunities for aspiring millionaires. Inspired by his grandmother's legacy as a single mother who created opportunities for her family, Steve aims to impact lives through his platform.

The podcast is a way to create new opportunities for others

The podcast serves multiple purposes. For one, it shares success stories and lessons learned in the real estate industry. It also promotes entrepreneurship and capitalism as paths to financial freedom. By helping others achieve millionaire status, the podcast makes ripples in the real estate industry. Through this mission, Steve hopes to change legacies and positively impact not just individual investors, but also their employees, families, and communities.

Strategies for Real Estate Success

Success in real estate investing requires a combination of personal traits, market awareness, and practical strategies. There are several essential elements that Steve Trang identifies as crucial for thriving in the dynamic world of real estate. One sometimes overlooked tip is to look to the future.

More specifically, an investor needs to be able to look for trends in real estate. Steve notes that one trend is the potential impact of AI. Although people are starting to realize the potential that AI brings to the real estate niche, they've only scratched the surface. Investors should keep an eye on the newest technology and learn how to use it.

Still looking ahead, Steve emphasizes the importance of being ready for increased regulation in the industry. He advises investors to:

• Diversify their strategies (e.g., offering flat-fee realtor services, using installment methods)

• Access more capital to take on more properties

• Be prepared to pivot and innovate

Those who can adapt to these changes will likely find themselves with a competitive advantage as the market evolves. While Steve doesn't know what the future will bring, he's found that trying to plan for future trends has been a key to his success.

Lead Management

There's a growing emphasis on effective lead management and inside sales strategies to drive business growth. With good leads, an investor can do anything. There are a variety of methods for successful lead generation, one of which is to buy your leads. Doing so frees up time for other aspects of the business.

It's not enough to just obtain leads. In fact, it's equally important to manage those leads properly. This means either developing your own sales skills or giving your staff the sales training needed to enhance their skills and results.

Overcoming Fear

Investors of all experience levels have fear of the unknown. Until you overcome that fear, you limit yourself. Oftentimes, that fear comes from not knowing the future. As the real estate landscape continues to evolve, understanding future trends and gaining insights from experienced professionals becomes increasingly valuable.

Going forward, Steve anticipates increased regulation in the real estate industry, affecting both realtors and investors. To prepare for these changes, he advises:

• Diversifying strategies (e.g., offering flat-fee realtor services, using installment methods)

• Accessing more capital to take on more properties

• Being prepared to pivot and innovate

While increased regulation may pose challenges, Steve believes it could also create opportunities for those who can adapt effectively. By staying ahead of regulatory changes, investors may find themselves with a competitive advantage in the evolving market.

Continuous learning is one way to prepare for changes

Ideas for Future Investors

If you're nervous about starting out in real estate, Steve has some advice for you. For one, you can join a mastermind or tribe to see others succeeding. Their success could inspire you to get started. It's also crucial to continuously work on overcoming limiting beliefs. If you don't think you can succeed, you won't.

Self-doubt can stop investors with potential. To overcome this, surround yourself with people doing what you want to achieve. Doing so can help you build confidence and accelerate the learning curve in the industry. They may also help you keep perspective during challenging times. Success rarely comes overnight and that even the most successful individuals have faced significant failures.

Instead of seeing setbacks as failure, you should see them as learning opportunities. Steve believes that continuously educating yourself and staying open to new strategies and ideas is another way to push past the obstacles. Over time, he's learned that success in real estate is not a matter of if, but when - as long as you remain committed to growth and learning.

Steve also believes that it's important to focus on lead management and inside sales. In order to do this, you may need to invest in sales training and hire individuals with the right experience.

Getting Started

You can read more about Steve Trang here. If you're ready to embark on your real estate journey, now is the time to get started. With Steve's advice and the right real estate leads, you can be on your way to a successful career in REI.