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#122

What if the secret to long-term wealth isn't just picking the right asset class, but surviving long enough to master the full cycle? In this episode of Path to Passive, Steven Arita sits down with Fuquan Bilal, a 26-year real estate veteran who has flipped over 200 homes, navigated the 2008 financial crisis, raised over $50 million in capital, and reinvented his strategy multiple times—from single-family flips to the "backdoor world" of mortgage notes, to multifamily investing in the Southeast, and now luxury spec homes in New Jersey. Fuquan shares the mindset shifts that saved his business after losing everything in the Great Financial Crisis, including how he rebuilt by planting seeds through books like Psycho-Cybernetics and Think and Grow Rich. He breaks down why notes felt like "the greatest investment in the universe" (buying $50K second mortgages for $5K and flipping them for profit), why he pivoted to multifamily after COVID, and the four pillars—people, strategy, execution, and cash—that separate mom-and-pop landlords from serious operators. There's even a hilarious moment when Fuquan admits his mom thought he'd found love when he came home glowing from a note investing class. For W-2 tech professionals looking to build passive income without the active grind, Fuquan offers clear advice: skip the Airbnb hustle, find a market-tested sponsor, and focus on learning the language of real estate through passive investing first. You'll walk away with mental models on resilience, capital raising, and why "real estate talk is therapy." Connect with Fuquan: Website:https://nngcapitalfund.com/ LinkedIn:   / fuquanbilal   Instagram:   / fuquanbilal   Facebook:   / fuquan.bilal.5   X: https://x.com/FuquanBilal https://api.leadconnectorhq.com/widge... Episode Highlights: [0:00] – Intro [3:01] – Intro to the episode and guest introduction [4:41] – Surviving the 2008 financial crisis and rebuilding from scratch [9:39] – How notes became "the greatest investment in the universe" [14:32] – Pivoting from notes to multifamily in the Southeast during COVID [25:25] – The four pillars of scaling from small to large multifamily [33:40] – Why W-2 professionals should avoid flips and choose passive investing [36:52] – Book recommendation: Psycho-Cybernetics and building a winning self-image [42:53] – Outro Share this with your tech friends who you think would benefit from learning about passive income and alternative real estate investments. For more resources and guides, check these out: Crack the Code https://www.aritacapital.com/crack-th... Investor 101 https://www.aritacapital.com/investor... Due Diligence Resource https://www.aritacapital.com/dd-check... If you want to learn more, reach out at: Email: steven@aritacapital.com LinkedIn:   / aritasteven   IG:   / the.real.arita