#107: From Scratch to 15 Multi-Unit Properties in Washington DC
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 30 March 2020
⏱️ 56 minutes
🧾️ Download transcript
Summary
In this episode, Chad interviews 36-year old Joe Breslin, who started investing 13 years ago while earning $16,000/year as a tutor. Today Joe's portfolio of multi-unit properties in Washington DC pays him enough passive income to pay all his bills (and then some)! And with management in place, he spends most of his time with his family, on hobbies, and building a non-profit to address homelessness. Learn how his approach to investing, how he grew safely, and how he finds a balance between work and other activities that matter.
Companion article: https://www.coachcarson.com/200000-passive-income-real-estate/
Real estate teacher discussed in episode - Greg Pinneo:https://www.thecorco.com/
Transcript
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| 0:00.0 | You don't have to have the cash personally. If you really want to get started, you need to focus a ton more on finding real deals. |
| 0:17.2 | Welcome to the real estate and financial independence podcast. |
| 0:22.3 | I'm your host, Chad Carson. |
| 0:23.9 | You can also call me coach. |
| 0:30.5 | And this is a show all about investing in real estate, achieving financial independence, and doing more of what matters. |
| 0:41.9 | The topic of today's episode is actually an interview, but the title is from scratch to 200,000 per year of passive real estate income in 13 years. |
| 0:46.9 | It's kind of a mouthful, but I'm going to interview a good friend of mine, Joseph Breslin. |
| 0:48.1 | We can call him Joe. |
| 0:50.5 | And Joe is an amazing guy. |
| 1:14.2 | He is in a mastermind group that I have been doing for trying to count now, I think, six or seven years. So it's me and Joe and one other guy, Anthony. And the three of us have pushed each other, helped each other. Joe is in Washington, D.C. I'm in the southeast and South Carolina. Anthony's in the northwest up in Washington. And so it's been really interesting and fun for us to look at each other's different situations and portfolios and markets and just help each other out. |
| 1:15.5 | We're all kind of similar places. |
| 1:18.9 | And I think you're going to enjoy from Joe, a lot of different things. |
| 1:20.6 | We get into a varied conversation. |
| 1:25.4 | We start off, of course, with real estate investing, how he got started, how he built things from scratch. |
| 1:28.0 | He was a tutor and just started kind of his own little business on the side tutoring people for SAT prep and different things like that was making about |
| 1:32.5 | 16 grand a year. And so really similar to what I had to do, but in his own way, in a bigger urban |
| 1:37.5 | market had to use other people's money, use partners, use creative financing, use the art of |
| 1:43.6 | dealmaking and negotiating with sellers to use |
| 1:47.0 | safe leverage to build a portfolio. And he's done that very well. I think you're going to find, |
| 1:52.2 | as I have, Joe is wise beyond his years. He's got kind of like a Warren Buffett style, patient, |
| 1:58.3 | long-term investing approach. And he buys multi-unit properties in his market in |
| 2:03.7 | DC, has hired a partner to help him manage a lot of the day-to-day stuff. So he spends a lot of time |
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