Quality Properties = Quality Tenants = Quality Profits

damottaleonardweb
Jun 2, 2022
3 min read

A long-term real estate investor and advisor joins host Liam Leonard for this episode of The Prosperity Perspective to help you reach your financial freedom number, and it all starts with a Google search and a focus on the long game. Michael Dominguez shares his hard-earned appreciation of what it takes to get your dream life from day one, whether you only ever invest in one property or a hundred.

3 Key Takeaways:

If you want to reach that freedom number you have in mind, then you need to do thorough research in the markets that interest you. That starts with a simple Google search.
Michael reached his financial freedom point by NOT listening to others’ conviction to make money when you buy. Instead, find a location with a quickly growing appreciation rate.
It’s important to distinguish real estate as a fund for your life, not the runner of your life. Set those boundaries from the get-go and be better off in the long term.

Listen to the Full Episode:

Show Notes:

[0:20] Michael introduces himself and his background in real estate investment

What does financial freedom mean to Michael?

[1:45] Michael shares how he got to the point of financial freedom, starting with his experience as a kid

[4:15] Once Michael got started, how long did it take Michael to hit his financial freedom number?

[5:55] Michel gives his framework for how he invested his extra income

[7:52] Michael decided to go into real estate; he explains what led him to this strategy

[12:20] Michael breaks down the metrics for scaling his investments

[15:10] Is Michael able to mirror the appreciation market versus cash flow in a turn-key perspective?

[18:30] For someone who’s beginning their own business, where would Michael suggest they begin looking for investments?

[20:58] Michael suggests finding the right partner through the resources that worked best for him

[22:00] The most exciting thing Michael is involved in today: Travel

“Real estate funds my life but doesn’t run my life.” -Michael Dominguez

About Michael Dominguez

Michael Dominguez is an award-winning sales representative, a member of the RE/MAX Hall of Fame and the founder of Doors to Wealth Real Estate Group, a team of realtors focused on educating and assisting people in residential real estate. After becoming a realtor in 2008, Michael realized the opportunities in real estate investing and bought his first investment property, proceeding to add to his portfolio for 10 consecutive years. Throughout his realtor career, he has completed over 300 investment property transactions.

When he entered real estate in 2008, Michael was drawn towards people who saw real estate ownership as a vehicle for building wealth and reaching their goals. Many of his current and former clients were able to quit their full-time job, do more of what they want to do, and seek their passions. As an investor realtor, Michael discovered a real passion for helping others build their wealth so they can experience the choices and financial freedom they desire.

Michael has been named Investor Realtor of the Year by the Real Estate Investment Network (REIN) twice, as well as Canadian Real Estate Magazine Investor Realtor of the Year. He was also awarded a RE/MAX Jazz Mentorship Award.

In his downtime, Michael is a die-hard Los Angeles Dodgers fan and an avid traveler who desires to have as many once-in-a-lifetime experiences as possible in his life. Currently, he and his wife own 11 two-unit dwellings in Ontario, Canada. Learn more at www.armchairrealestatemillionaire.com.