Category: <![CDATA[Podcast]]>

When most people think about section 8 housing, they think of run-down homes, troublesome tenants, and negligent landlords. This stereotype may prove true in some markets, but for Dr. Joe Asamoah, this is far from reality.

Joe has built his real estate portfolio by renovating homes to an incredibly high standard, situated in some of the best neighborhoods in the DC market, and all while under section 8 housing. Joe figured out early on that section 8 housing authorities gave much more rent money for houses with 5 bedrooms and up, so he started renovating to match the rent section 8 could provide him. This not only allows him to take home a sizable profit, but score tenants who will respect his homes as their own, and stay there for 15 to 20 years minimum. This is no joke, Joe has tenants who have been with him for two decades!

You’ll see a deep dive of Joe’s latest property in today’s episode, complete with pictures, videos, and other helpful visuals. If you’re only listening to this podcast, we’d highly recommend checking out the video version over on the BiggerPockets Youtube channel!

We’re back for part two with The Multifamily Millionaire authors Brandon Turner and Brian Murray. This time, Brian is on the mic to give you the ten steps to purchase your first large multifamily property. You may be thinking that these ten steps sound too easy for such a large deal, but that is part of the advice that Brian gives.

Brian wants smaller multifamily owners or even single-family owners to know that buying a large multifamily property is just more volume, not a completely different skill set. If you own one or multiple units right now, you may have more skills than most to take down a 100-unit apartment building or a big mobile home park. The only thing standing in your way is the mindset.

This episode just scratches the surface of what’s possible in large multifamily real estate investing, the rest can be found in The Multifamily Millionaire Volume II. As a reminder, if you purchase before the end of August 2021, you’ll get a four-week multifamily masterclass, taught by Brandon Turner.

It often seems like the most successful people are the ones who take the most risks. There’s no surprise that at one point, billionaire entrepreneurs were given the choice to either stay where they stood or leap for something greater. This is something that today’s guest, Sukhinder Singh Cassidy, understands. She’s helped lead some of the biggest companies around like J Crew, Stitch Fix, TripAdvisor, and Urban Outfitters (just to name a few).

The one thing that Sukhinder has found throughout her years in Silicon Valley and through writing her new book, Choose Possibility, is that groundbreaking leaders don’t just take one big risk, they take several small ones. This works for real estate investors too. If you’ve just gotten into real estate investing education, the first step for you isn’t to go out and buy a house, it’s to join a meetup, contact an agent, or even join the BiggerPockets forums. These are what Sukhinder calls the “minimum viable choice”. Don’t worry about doing everything, just do something!

Sukhinder gives some great advice on leadership for those in executive business roles, plus how to find talent in this increasingly competitive market. If you’re just starting in your career, take Sukhinder’s advice and do great work for great people, the rest will fall into place.

There’s a new three-peat on the BiggerPockets Real Estate Podcast, and no, it’s not Michael Jordan. Danny Johnson, the founder of Forefront CRM, is back with us on today’s episode to talk about the five F-words of real estate investing. Before you jump to conclusions, this is a family-friendly show, the F-words we’re talking about are fear, fundamentals, focus, funnel, and follow up.

Many investors find too few deals, too few motivated sellers, or too few ways to find financing. This is all being said while other investors are closing deals, finding motivated sellers, and getting the financing they need to pursue even more deals. What separates the two from each other? Often, it comes down to the simplest things.

Are you trying to be too creative or are you mastering the fundamentals? Do you know your metrics down to a tee so you can improve upon them? How is your funnel being filled and where are your leads coming through? If leads come through, are you following up or letting them fade away? And lastly, are you pushing past your fear to do any of the above things?

If you feel like you’re stuck, without much of a handle on your real estate business, feel free to try Danny’s Forefront CRM!

It’s rare to find someone with the experience, knowledge, and downright friendliness of Ken McElroy, which is why we’re having him back on the show! This time, Ken breaks down some of the fundamental truths of real estate investing and how it can help you, as an investor, make more money, reach financial freedom, and live the life you were born to live.

Ken has been in the real estate game for decades, starting as a property manager in college, becoming a landlord with a sizable portfolio, then meeting Robert Kiyosaki and working on books, education, and systems with some of the biggest names in real estate. Ken has been through multiple market cycles, dozens of policy changes from the government, and made lots of money on many different types of deals. He has a unique experience that gives him a leg up on much of the new competition.

You’ll hear Ken’s thoughts on the “affordability crisis” we may be facing in the coming years, how short-term rentals are changing the landscape of month-to-month rentals, and how an inexperienced investor can get started with “good debt”. Make no mistake, the lessons Ken talks through in this episode took decades to learn, but you can get them all in just over an hour!

Rob Abasolo, AKA Robuilt on Youtube, didn’t have a background in real estate, or construction, or hospitality, or really anything related to his current success. He did have drive, creative thinking, and the will to make something work when other people told him it was impossible.

Rob and his wife moved from Kansas City to Los Angeles, trading a $1,100 mortgage on a house for a $1,800 rent bill on a small apartment. Around this time, Rob started hearing about Airbnb and short-term rental hosting. So, he decided to buy a house, keep his apartment, and try his hand at some Airbnb arbitrage. It worked, and thus the short-term rental revenue model was proven!

Rob then started to Airbnb out the apartment attached to his new home. He was pulling in some solid income, anywhere from $2,000 to $3,000 a month. So what did he do next? He built a “tiny house” in his backyard for around $72,000 and began renting it out for up to $4,000 a month on Airbnb. That’s when Rob thought “what if I built ten of these?”

Now, four years later, that’s exactly what he’s done. Rob has a growing portfolio of short-term rentals all across the United States. From California to Texas, to Tennessee and beyond. But this isn’t the end for Rob. His new plans? Build a massive “glamping” compound on his newly acquired 50 acres of land in Gatlinburg!

Many of us have a story behind doing what we do. You may have been raised by parents living paycheck to paycheck, spurring you to chase financial freedom and create a better life. Or maybe you labored tirelessly at work to get a promotion or raise, simply to be passed up for someone else. For Adam Gilbert, founder of MyBodyTutor, his “why” is his father.

Adam looked up to his father all his life but saw the pain and distress he was going through when he had a heart attack, a triple bypass surgery, and was later diagnosed with multiple sclerosis. This forged a path for Adam that materialized in the health and fitness space. Adam knew that he never wanted to be “too tired” to play with his kids, spend time with his family, or pursue a passion.

As Adam has grown his business over the past decade and a half, he’s come away with many lessons that ring true for not only fitness enthusiasts but business owners as well. We talk through the five rules that Adam has put together for anyone to become healthy, wealthy, and mentally sound. While this is a mindset episode, you’ll be surprised with how many of these rules crossover almost perfectly into real estate investing.

We all know that Hawaii is expensive. With its black sand beaches, fantastic surfing waves, and delicious poke bowls, why wouldn’t you want to live and invest there? Well, even with all those positives, many investors steer clear of Hawaii due to its high prices and lack of land, but one investor, Indar Lange, has proven those critics wrong.

Indar is Hawaii’s largest flipper, running about 15 flips at any given moment, and tackling deals priced at upwards of $3,000,000! Indar is no rookie to the game, he’s been doing this for the last decade and a half, but he had humble beginnings.

Growing up poor on a farm in rural Hawaii, Indar thought that his life would be set once he got his engineering degree. After realizing that engineers topped out at about $150,000 per year, Indar had to think of something else to do. He coincidently bought a small home at the time, fixed it up, and sold it after living in it for a few years. He paid zero taxes on the gain and this became his first live in flip, which caused the real estate wheels to start turning in his head.

Now, he’s hooked up with some of the best lenders, agents, wholesalers, contractors, and investors in the Hawaii area, taking down massive deals for a big payday. You’ll hear Indar’s full story and catch his “Ninja Tips” for the aspiring real estate investor.

Real estate is a business, but we often don’t think of it that way. A single-family home here, a duplex there, at the end of the day we’re just landlords, right? 

What if some large corporation or outside buyer wanted to buy your real estate business from you. Even better, what if you had such efficient systems in place that you could sell your business for 10x what you put into it. Sounds pretty sweet right?

Today we talk to Michelle Seiler Tucker & Sharon Lechter, authors of Exit Rich and Rich Dad Poor Dad. Michelle and Sharon have spent years building and selling businesses and have defined the 6 Ps to a profitable exit. Their main critique of most business owners: start planning to scale efficiently TODAY.

This can help you as a real estate investor start putting systems in place to grow your portfolio faster and with less work from you later on. If you’re willing to put in the upfront effort to start hiring right, systematizing, and opting for efficiency you most certainly will “exit rich”!

The average journey of a real estate investor tends to go something like this: buy a house, use profits to reinvest into another house, buy a duplex here and there, and buy another house again. Does this sound like you or someone you know?

For Feras Moussa, stacking single-family properties was never the goal, especially after he had to manage his first rental investments. At some point, it becomes too hard to scale and you’re stuck with 30+ units and 30+ tenants all trying to get your attention to fix something. This is how real estate can become more of a job than a business.

Feras knew this so he started venturing into medium/large multifamily investments instead. His first big multifamily deal was a 99-unit deal in Atlanta, Georgia. He was able to take a neglected apartment complex and turn it into a cash-flowing, high-value piece of property that he later sold for a sizable multiple. Now, Feras does bigger deals, like a $50M+ apartment complex that his company Disrupt Equity and Open Door Capital are partnering on.

If you feel too scared to jump (or even dip your toe) into bigger multifamily investments, hear out Feras. He shows it’s a lot less scary than most people think.