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May 20, 2018

This week we are joined by fellow podcaster and investor Joe Fairless! Joe hosts the longest running daily real estate investing podcast Best Real Estate Investing Advice Ever Show and currently controls over $301,000,000 worth of real estate with 4200 units. Check out his two books, Best Real Estate Investing Advice Ever Volumes I and II, which include advice from some of the smartest people in real estate.

We chat about:

  • What caused Joe to get into real estate investing.
  • Reading Investing for Dummies and Rich Dad Poor Dad
  • Living minimally while investing to make to accelerate investing
  • Early investing in single-family homes and moving into multifamily
  • How property analysis changes moving from single family to multifamily
  • The process of reviewing a multifamily opportunity 
  • The importance of word of mouth referrals
  • Raising money, getting verbal agreements, and identifying 30% more than what is needed
  • Ashcroft Capital 
  • The process of raising $24,000,000 raised in 7 days
  • How to locate the properties?
  • Pocket listings
  • Primary money maker is interior renovations but initial purchase focuses on cash flow
  • Avoid properties that require heavy lifting and focus on items that can help increase rent roll
    • You aren't going to be able to increase rent by improving plumbing
  • Build your network
  • Read, learn, and be focused on our path
  • If you'd like more information on investing in apartments send an email at info@joefairless.com and ask for the Apartment Resources Guide
  • Accredited investors that are interested in investing can contact Joe at InvestWithJoe.com

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Follow Josh Koth and Jack Hoss on their journey towards financial freedom using the power of Real Estate through the REI Rookies Podcast (Real Estate Investing Rookies Podcast). We share our experiences as we acquire rental properties, build net worth, and work towards financial freedom. We are focused on creating wealth through conventional and creative real estate investing while improving our financial education. If you are a fan of Rich Dad Poor Dad by Robert Kiyosaki and Millionaire Real Estate Investor by Gary Keller or are looking for an alternative to the Dave Ramsey, Jim Cramer, Motley Fool or Suze Orman shows we invite you to subscribe today!