Norada Real Estate - Premium Turnkey Investments
Have you ever wanted to start investing in real estate but are just too busy?
Well, Marco Santorelli with Norada Real Estate Investments understands.
Marco is the founder of Norada Real Estate Investments, which is now a nationwide provider of turnkey investment properties for real estate investors. Learn how Marco built a hands-off approach for investors to develop monthly cashflow and equity through turnkey real estate.
So, Marco, how did you get into real estate?
I bought a townhouse and fixed it up. The rehab on this project took a while because I did most of the work myself with the help of my uncle, who was a carpenter.
Then I put some “For Rent” signs out, got some applications, screened a few tenants and leased the property out. I managed it myself even though I really didn’t know what I was doing at the time. However, in the end it turned out great!
How did Norada Real Estate Investments come about?
In early January 2004. I was buying up a ton of properties at the time. Real estate investors who were going to boot camps and workshops were coming to me asking, “Hey Marco, where are you finding these deals? How are you negotiating them? How are you doing the analysis? Can you give me a hand or coach me along? Can you find me some deals?"
I realized that there was an opportunity, a market, where investors want to invest but don’t necessarily have the experience, the willingness, the time, the knowledge, or the team to do it.
If I could help them along and take care of 60-70-80 percent of what they need to do and just basically present them with what I called at the time turnkey rentals or turnkey property investments, then it would make it much easier for them to invest.
That was when I realized that certain investors had a need for this type of service. And I was really one of the first, if not the first, nationwide provider of turnkey real estate.
What drove you at 18 to get into real estate. What was your mindset back then?
I just knew that real estate was the place where people created wealth. I didn’t know at the time that it was where people held their wealth. I didn’t grow up in a well-to-do family or anything. My parents had to work multiple jobs just to pay the mortgage, so I didn’t come from a place of money.
But I looked around and I just knew from being perceptive, looking at other people and understanding that people do well when they buy real estate. I just kind of knew I wanted to do real estate at an early age.
What was the biggest challenge getting Norada up to where it is today?
In the beginning, probably just getting known, getting out there and getting exposure.
I mean, I was literally driving to local real estate clubs from San Diego to Los Angeles, handing out flyers or postcards just trying to get the company name and services out there. There was a lot of footwork, spending a lot of time online and really trying to build a presence there too.
Then as time went on, we got to the 2008 recession, the housing market implosion and credit dried-up. That was probably one of the biggest challenges I faced while running Norada. In an effort to survive I scaled back and cut expenses.
Being a powerhouse for turnkey properties and other passive investments in real estate, what markets are you currently in?
Well, in terms of markets, we are in about 15 different markets including: Indianapolis, Kansas City, soon to be Oklahoma City, Dallas, Houston and San Antonio.
We're also in Birmingham, Huntsville, Montgomery, Atlanta, Memphis, Charlotte, North Carolina, Jacksonville, and some stuff in Tampa, Florida.
We also have new construction fourplexes in Salt Lake City and Idaho.
Goals & Advice
What are some of your future goals for Norada?
I want to just build this business to be the best premier provider of turnkey real estate on a nationwide basis. My ultimate goal is to help as many people as I can with this business.
We’re also looking to tap into other markets and other real estate investment channels such as China.
We’re looking at potentially re-doing the website from the ground up to make it better than it is now. We want to provide more online tools for investors. I want to improve the services we provide to make it better and easier for our clients.
What is your number ☝🏼 piece of advice you would give to a first-time real estate investor?
I’ll give you two:
Always be a student.
Continue to educate yourself whether it be books, podcasts, videos, articles or magazines. Educate yourself on real estate, real estate investing, finance, maybe some economics, but just be a perpetual student. They say the more you learn the more you earn. So be a professional student.
Take action with the right team.
Once you get to the point where you’re knowledgeable enough to ask some intelligent questions. Then start working with the right team to achieve your financial goals. Whether it’s us at Norada Real Estate, an advisor, a local agent or whoever your team is, work with the right team and take action. At some point the rubber needs to meet the road and you need to take action. If you don’t do that, nothing is going to happen.
Marco, thank you for giving us one of the most awesome real estate investing stories on this blog. Where can we go to learn more about turnkey real estate investing?
Please check out the Norada Real Estate Investments website. We have something for investors at every stage, whether you’re looking for passive turnkey property investments or a newbie investor looking to join our Real Estate Investment Group for free. We also have a free download about how to create passive investments in real estate.here.
This blog post is strictly an interview with Norada Real Estate, and we have no professional affiliate with them. While we encourage our readers to learn from fellow members in our community, please know that Startup Property is not responsible for any personal or professional purchases or business transactions that happen between yourself and the interviewee of this blog post.
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