479. Investing with Purpose: Finding Fulfillment Beyond Material Wealth with Engelo Rumora

In this captivating episode, Suja interviews Engelo Rumora, a former professional soccer player turned real estate investor who has built a successful business in Toledo, Ohio. Despite quitting school at the age of 14, Engelo's passion, hard work, and determination have led him to flip over a thousand properties and establish a thriving property management company. He shares his journey, the challenges he faced, and the lessons he learned along the way. Engelo also discusses his investment philosophy, the importance of sticking to what you know, and the value of creating a business that serves a greater purpose than just personal gain.

 

Engelo Rumora is a prominent real estate executive, investor, and CEO, known for his remarkable achievements in real estate investments, as well as his diverse entrepreneurial ventures spanning various industries. With a global portfolio encompassing countries such as the Bahamas, Croatia, Japan, Australia, and the USA, he has demonstrated a comprehensive understanding of investment strategies. Engelo's expertise extends beyond real estate to include tech, crypto, stocks, and oil funds. He is the driving force behind several successful companies, primarily in the real estate sector, having experienced both setbacks and triumphs. Engelo's enduring commitments are Ohio Cashflow, a leading turnkey property provider, and Oz Realty, a renowned property management firm. His career has seen involvement in over 1,000 real estate transactions, including flips and buy-and-holds.

 

[00:00:00] - [00:04:00] From Soccer Pitch to Real Estate Riches

- Engelo's journey from quitting school at 14 to become a professional soccer player

- The decision to leave soccer and start a new career in real estate

- Building a portfolio in Australia and the challenges faced

 

[00:04:00] - [00:09:00] Discovering the Toledo, Ohio Market

- Why Engelo chose to invest in Toledo, Ohio

- The benefits of investing in a tertiary, niche market

- Explaining the business model of flipping and property management

 

[00:09:00] - [00:14:00] Mastering the Art of Property Management

- The initial struggles and mistakes made in property management

- Streamlining processes and incorporating technology to improve efficiency

- The importance of having in-house property management for a successful turnkey business

 

[00:14:00] - [00:19:00] Investing Beyond Real Estate

- Engelo's experiences investing in various markets worldwide

- The advantages of investing in the U.S. compared to other countries

- Diversifying investments while maintaining a focus on core competencies

 

[00:19:00] - [00:25:00] The Purpose Behind the Grind

- Engelo's semi-retirement at 28 and the realization that material possessions don't bring happiness

- Doing business for the benefit of family and loved ones

- The importance of having a purpose greater than oneself to stay motivated

 

Quotes:

 

"Food and shelter are the two most important things to humanity. So for as long as Elon Musk doesn't send us to Mars, people are always going to need a roof over their head." - Engelo Rumora

 

"If you do things for you, you will eventually let yourself down because you aren't enough to continue the grind. But if you do things for someone else that's blood related or a bigger purpose than yourself, you won't give up." - Engelo Rumora

 

Connect with Engelo:

Website: https://ohiocashflow.com/

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