In this #Highlights episode, we look back at our conversations with Pam Sacramando, Founder of The C.R.E.A.T.E Wealth Network and Dusten Hendrickson, Founder of Mailbox Money. They share the keys they discovered to make their side hustle in real estate investment a steady income stream. 

Pam recounts her early days in real estate, which she believes was the most difficult stage in her investing journey. Yet, it set the tone for the success she enjoys today. Dusten shares eye-opening principles for investing in different markets and the strategies he used to scale his portfolio even during the pandemic. Enjoy the show!

Key Points From This Episode: 

• The transition process from being an aerospace engineer to a real estate investor.
• Support from family and friends will keep you going along your chosen path.
• Finding a mentor is instrumental in keeping your focus and mindset straight.
• The hardest part of syndication.
• The biggest misconception in multifamily investing.
• How to pick the right market to invest in.
• Some rules of thumb for investing in different markets.
• Tip-offs to look for for a good operator.
• What is Dusten’s wellness design for apartment investors?
• How Dusten refinanced his entire portfolio in 2020 during the Covid-19 pandemic.
• What was his debt strategy?

Tweetables:

“Once you find a way that works for you and you set it up properly, then things will start to flow in.” –Pam Scamardo

“If something becomes very important, we can just focus just on that ’cause almost everything we do now is proactive, it’s not reactive.” –Dusten Hendrickson

“Your biggest enemy is not the scam artist, but it’s the guy who’s just operating in a mediocre fashion.” –Sam Rust

Links Mentioned in Today’s Episode:

Pam Scamardo on LinkedIn
Create Wealth Network
Episode 783 (full episode)
Dusten Hendrickson on LinkedIn
Dusten Hendrickson on Facebook
Episode 989 (full episode)

About Pam Scamardo

Entrepreneur Pam Scamardo is the Founder of The C.R.E.A.T.E Wealth Network – a top free educational resource for commercial real estate investing. Officially ‘retired,’ Pam is a mother and wife who discovered the benefits of passive income after realizing she did not need to be a millionaire to begin investing in commercial real estate. An aerospace engineer by trade, having been employed by Lockheed Martin, Boeing, and UTC Aerospace, Pam made a career pivot almost 10 years ago and founded her first company TPK Properties. She is passionate about helping others achieve “job optional” status through commercial real estate investing and wants to empower men and women along their journey to financial freedom.

About Dusten Hendrickson

Dusten develops real estate, purchases existing value add real estate, and invests passively as an LP. He also helps others invest in the same deals he invests in.  He has been involved in RE his whole career. He has a passion for green building and collaborated with South Dakota State University – Department of Architecture to build the first certified Passive House in South Dakota. He owns and asset manages over 300 units and he passively invests in over 1000 units. He also helps raise money for the deals he invests in. He has developed a skill set that is perfect for value add multifamily because of all the affordable design-build he has participated in by living in a very frugal community.