Join Steve as he talks with Alex Cheng about how to invest intelligently so where your money goes has a purpose. Alex is the owner and creative director of instaMERSION studios, a digital media studio. He tells his story of how he went into the real estate industry. There’s a lot to unpack, so stay tuned and enjoy the episode!
Make It Count
Alex first bought a house in 2004, back when prices were still low. Despite the heavy mortgage payments amid a recent divorce, his parents encouraged him to keep paying them as it would be worth it in the long run. Alex did see the fruit of his labor because the property doubled in value in a span of time. That was how Alex got involved in real estate. From that experience, he got himself immersed in the real estate industry along with his digital media business.
Investing is a strategy game, and Alex says that networking is especially important when it comes to real estate. In order to gain trust and learn from other seasoned investors, he had a lot of lunches with them. The relationships gained from these interactions will eventually become a reward in the future. Connections are the easiest way to deal with in the business of real estate. Decisions made on where to put money in will make or break investments. Thus, every action must count and have a purpose.
About Alex Cheng:
Alex Cheng integrates problem-solving, technology, and design with his expertise as a digital artist, designer, and storyteller. His initial passion for designing page layouts led to his breakthrough into the print industry. Incorporating imagery and typography, creating ads, brochures, posters, and flyers eventually honed his ability to create highly dynamic websites that caught the attention of Fortune 500 companies. He later solidified his skills as a digital artist by expanding his passion for video and motion graphics. Alex has worked with numerous national and local agencies as an interactive designer, digital marketer, and strategist. Now, as the owner and creative director of instaMERSION studios, he enjoys collaborating with clients and leading their projects from concept to creation.
Outline of the episode:
- [01:53] How Alex started his journey in developing passive income with real estate
- [08:08] The importance of networking in real estate investing
- [11:31] Should you buy from a distance?
- [14:29] Rat race, family influence, and getting by on your own
- [18:52] Real estate as a life-changing investment vehicle and technological changes
- [24:54] Reevaluate the situation due to financial market changes
- [27:45] Advice for people who want to get started in their journey to financial freedom
Resources:
Connect with The Cashflow Project!
The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com