Realtors who invest: Turning property knowledge into lasting income

A real estate career can produce a good income, but income isn’t the same as wealth. At Florida Realtors®’ Wealth Building Summit, panelists said building wealth means moving beyond the next commission check and using real estate knowledge to create lasting income and financial freedom.

Real estate investors Andy Scaglione, Tiffany Bonfiglio and Cynthia DeLuca, joined by moderator Steve David, didn’t offer a formula. Rather, they showed how buying and holding property can turn a transaction-based career into something that keeps producing over time.

“The only way you build wealth is by owning property, and it’s in our arena,” Scaglione said. “Why build somebody else’s empire? Build your own.”

Buy for more than one outcome

That doesn’t mean chasing every listing. DeLuca starts with two requirements. “First thing is cash flow; it has to cash flow. And second thing is we require a plan A, a plan B, and hopefully a plan C.”

If a long-term rental no longer works, the property might be sold, used as a short-term rental or even occupied by the owner. The lesson for Realtors® is to analyze how a property can perform under more than one set of conditions before putting money into it.

Scaglione said he prefers opportunities close to home, where he can stay involved and monitor how the properties are performing. He also credited his reputation for keeping his word with bringing more deals his way, showing how the trust Realtors build through their daily work can carry over into investing.

Bonfiglio found her own lane in lower-cost Ohio properties suited for Section 8 rentals. “Everybody does it a little bit different,” she said. “You just have to find what works for you.”

Ownership starts after closing

None of the panelists described rental income as hands-off. Scaglione visits every property at least twice a month and shows up for major repairs. Bonfiglio manages local rehabs closely and uses a property manager for out-of-state homes. DeLuca tracks maintenance in detailed spreadsheets, asks residents to send photos of problems and hires third-party inspectors annually.

David put the responsibility plainly: “Inspect what you expect.”

That follow-through is where a Realtor’s working knowledge becomes an investing advantage. Understanding property is the starting point. Protecting its performance requires systems, dependable vendors and attention long after the sale.

DeLuca added another measure of success. “This is a human business,” she said. Owners are providing housing to people, and residents’ real-life circumstances are part of the work.

The panel’s version of wealth wasn’t simply a larger bank balance. It was an asset base that can support a family, survive changing markets and create choices.

“Money doesn’t buy happiness; it buys your freedom,” Scaglione said.

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