Adventures in Real Estate Investing from a Mortgage Broker with Matt Gouge
Matt Gouge, aka Matt the Mortgage Guy, got his start in lending back in 2013. As a self-proclaimed math nerd and a people person, he burned his proverbial ships, leaving a steady paycheck with the State of California, for the commission-based world of brokering residential mortgages. He has excelled in the field because he himself is a real estate investor and he can advise clients at a high level. As a real estate investor himself, he is able to help clients not only analyze the mortgage on their primary residence but on potential investment properties as well.
In this episode, we talk to Matt about his journey from state employee to a commission-based mortgage broker, the power of taking the leap into the unknown from an unfulfilling job, the tale of buying his first property before the Great Recession that is still a rental, and his misadventures investing long-distance.
What You'll Learn in This Episode
How Matt Gouge left a secure state job with a pension for a commission only job as a mortgage broker
How lack of job satisfaction should be an indicator that something needs to change
How to analyze the risk when planning to make a big decision
How Matt Gouge bought his first investment property
When buying a property to live in, you should keep in mind how well it will work as a rental when you move out
How has he expanded his investment property portfolio
How he got burned investing long distance and the mistakes he made
Why you should always have an extra property manager ready to take over your rental properties
Why you should NOT diversify your single-family rental portfolio across multiple cities
Why you SHOULD diversify your real estate investments into syndications like apartments, self-storage, and mobile home parks
How much time does take to manage a rental property portfolio
How owning four or more rental units lowers your risk
Where to learn how to buy investment properties
Why you should buy real estate when everyone is afraid of buying real estate
How to avoid paralysis by analysis
How losing money on a deal can be a better education than a paid mentorship
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.