Episode 36: Becoming a Real Estate Tycoon after 50
Bill Manassero (pronounced “MANNA+ SARROW”)is the host and top dog of The Old Dawg’s REI Network, a web site, blog, newsletter and new weekly podcast for people 50 years and older who are using real estate investing as a means to fund their retirement years and create a legacy for their children and grandchildren.
At 60 years of age, he came off the mission field with very little retirement funds and the dilemma of going back to work or finding another way of making money. He chose real estate investing. As he pursues REI he is also committed to helping others who are in the same situation by sharing his journey via the Old Dawg’s REI Network. In addition, he will feature knowledgeable guests and other investors on his weekly podcast. Bill’s goal is to own/control 1,000 units/doors in less than 6 years. He plans to double the number of units/doors of each prior year. He is currently at 28 doors and in year two.
Prior to forming the Old Dawg’s REI Network, Bill and his family were missionaries to orphaned, abandoned and at-risk children living on the streets of Port-au-Prince Haiti. Prior to Haiti he was a professional musician and, prior to that spent over 20 years in business on the corporate and entrepreneurial side. A few highlights of his career include meeting Ronald Reagan, running an annual event for actor Jimmy Stewart, being interviewed by Oprah Winfrey and having CNN produce a documentary on their work in Haiti.
What you’ll learn about in this episode:
- Bill’s background and why he started The Old Dawg’s REI Network
- The economies of scale Bill noticed when buying properties of different kinds
- Bill’s goal of 1000 units by 2020 and how he’s going to get there
- The markets Bill owns in
- Stealth tennant marketing: how Bill turned around an area that wasn’t as occupied as it should have been
- Why Bill likes multi-family over single-family
- How to find a lot of buyers and renters
- How Bill find his properties
- How Bill funds his properties — and the opportunities to partner with Bill
- Bill’s podcast The Old Dawg’s REI Network
- Why you should never let an offer die on your side of the table