Welcome to The Hungry Realtor Podcast with your host, Mike Severns (@HungryRealtor). In this episode, we have a special guest, Damon Forte, who shares his inspiring story of perseverance and success in real estate investing.
Damon's journey began as a financial advisor serving high-net-worth clients. He saw that all of his clients owned real estate. When the pandemic forced the closure of his family-owned restaurants, Damon had to pivot and went all-in on his food cart business and real estate investing. With his determination and hard work, Damon and his team/family have grown their food cart business from one to three in just four years.
Damon's first real estate deal was a pre-foreclosure in Glendora, NJ that needed extensive work. With his family's help, they did most of the work themselves, including adding a bathroom, remodeling the kitchen, and converting the attic into a bedroom. The property was staged by Damon's wife and his team sold successfully, exceeding their expectations despite dealing with the challenges of the pandemic and red tape.
In this podcast episode, Damon shares his experience in real estate investing, including balancing cost, quality, and speed, managing expectations, and betting on oneself to provide for their family and leave a legacy. He also emphasizes the importance of action and accountability and having a process in place for investing.
Damon and Mike also discuss various aspects of real estate investing, including the number of properties owned and plans for investing out of state. They touch on the benefits of having a management company and doing things yourself when you don't have money. They also talk about the challenges of starting small in the real estate industry and how it can be difficult to compete with larger, more successful investors.
Overall, Damon's story and insights offer valuable inspiration and guidance for anyone looking to enter the field of real estate investing and entrepreneurship. Join us on The Hungry Realtor Podcast to hear more from inspiring guests like Damon Forte.