Collin Placke is a petroleum engineer and real estate investor and entrepreneur who began investing in single-family rentals to help smooth some of the up and downs of the oil and gas industry. Today, his focus is on large 100+ unit apartment buildings and has done close to 2000 doors across the Southern Eastern US in Texas, Tennessee, Florida, Arkansas, and Alabama. Collin is also the creator and host of the Rigs to Real Estate podcast that seeks to give back to the industry and help oil and gas professionals set their first foot in investing in real ...
Collin Placke is a petroleum engineer and real estate investor and entrepreneur who began investing in single-family rentals to help smooth some of the up and downs of the oil and gas industry. Today, his focus is on large 100+ unit apartment buildings and has done close to 2000 doors across the Southern Eastern US in Texas, Tennessee, Florida, Arkansas, and Alabama. Collin is also the creator and host of the Rigs to Real Estate podcast that seeks to give back to the industry and help oil and gas professionals set their first foot in investing in real estate.
Timestamps
[02:28] Collin Placke’s background in the oil and gas industry
[03:27] Why real estate is a strong bet in the market now
[06:33] Preparing for bad times
[09:35] Networking for real estate investors
[11:00] Keys to success in real estate
[14:11] Mistakes to avoid when starting
[18:53] Skill transfer from oil and gas into real estate
[20:36] About Rigs Real Estate podcast
[22:36] Buying the first property
[23:09] Mass exodus to urban areas and investment
[33:08] Fundrise and micro-investment platforms
[41:02] Finding a good real estate CPA
[42:41] Real estate mastermind group
[44:53] Collin Placke’s why drive
[49:48] The future of the oil and gas industry
[51:54] Collin Placke’s contacts
- Fall in love with finding a solution to the problem. Don’t fall in love with an industry solution.
- The point is to be doing things when times are good to be better prepared when times are bad.
- You’re going to think about something that can be passive, can create income, and have passion for it. Otherwise, you’ll burn out.
- Your network is your net worth
- You’re gonna make mistakes when you get started. You just have to learn from them and keep going forward.
Resources
Connect with Collin Placke
Rigs to Real Estate
(1) Collin Placke | LinkedIn
Is Real Estate a Strong Bet in the Current Market?
People are talking about cryptocurrency and blockchain for the most part of their investment ideas, forgetting about one of the most profitable investments, real estate. But with real estate has been around for a long time now, is it still a good bet in the current market? To find out more, we interviewed Collin Placke, the owner of Rigs to Real Estate podcast that is focused on giving back to the industry and helping oil and gas professionals set their first foot in investing in real estate. He gives reasons why he thinks real estate is still a big bet in the current market, networking for real estate investors, and the keys to success in the industry.
Collin Placke is a petroleum and real estate investor and entrepreneur. He began investing in single-family rentals to help smooth the ups and downs of the oil and gas industry. To date, Collin he has done close to 2000 doors across the southeastern US in Texas, Tennessee, Florida, Arkansas, and Alabama with his specialty being on large 100+ unit apartment buildings. He still also works full-time as a production engineer for Delaware Asset Company.
Preparing For Bad Times
“The point is to be doing things when times are good to be better prepared when times are bad.”
Colin says you need to get control of your own finances first. You shouldn’t be looking at investments until you have control of your own finances. To take control of your finances, you need to live within your means.
After getting control of your finances, he advises that you find something that can earn you money while you’re asleep and things that are not going to be tied to commodity prices. He also emphasizes diversifying your investments instead of putting them all in one basket.
“You’re going to think about something that can be passive, can create income, and have passion for it. Otherwise, you’ll burn out.”
Keys to success in real estate
Focusing on your passion makes the whole thing not feel like work. Network with people who have done what you want to invest in and get their insights. You can also pay a mentor to guide you through.
Colin advises real estate investors to network through social media platforms such as Facebook and LinkedIn. Join groups and conversations with people having similar goals.
“Your network is your net worth.”
On mistakes you need to avoid when starting, he says that you need to know if real estate is for you or not for you. You can ask yourself these questions to find out.
- What are your monthly cash flow goals?
- Where is your time best spent?
Real estate is not for you if you haven’t taken care of finances also.
Collin says that you’re going to make mistakes when you’re started. What will bring the difference is whether you will learn from them and keep going forward.
“The biggest mistake is not getting started at all. You could really start with tow of three things. (Education, time, money).”
Connect with Collin Placke
Rigs to Real Estate
(1) Collin Placke | LinkedIn
About the show
On Coffee & Liquidity, our mission is to give some perspective and context to those that may not have the tools at their disposal, whether income or acumen, to become a full-time entrepreneur but can still leverage their networks, etc., to build passive revenue streams or wealth in other ways. The American dream can be reached through multiple paths. It’s time we talk about it!
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