135: 2 Houses Flipped as a Part-Time Real Estate Agent & Full-Time Father

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 1 December 2021

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real estate is a relationship-based business. As you establish more relationships within the industry, your job continues to get easier and today’s guest, Jay Simpson, is a prime example of that. With the help of his mentor, he has successfully flipped two houses and already turned one into a rental property. The primary reason he got into real estate was because he wanted the time to be actively part of his daughter’s life — a freedom his W-2 didn’t allow. His ability to cultivate meaningful relationships is the reason he has been able to find so much success as a real estate agent and investor. Jay heavily emphasizes the role his mentor plays in his real estate career, especially given that when he was new to the industry, he needed someone to show him what the classroom couldn’t. His genuine nature got him his first sale, his first flip, and a continued relationship with his lenders. Real estate has allowed him to not only free up his time but enjoy the time he has freed up, which to a family man like himself, is the dream. Investing is about more than building wealth, it’s about learning the value of time, especially because you can never get it back. In This Episode We Cover Getting your real estate license and how it can be the first step to investing Working for a broker and what that means for your career as an agent House flipping and the signs that indicate a great potential flip How to estimate rehab costs as a first timer The importance of a detailed scope of work and its benefits The importance of being genuine and authentic with everyone you encounter And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Rookie Podcast 55: Combining House Hacking and Live in Flips with Tyler Madden BiggerPockets Podcast Zillow Lowe's 16Personalities Tony Robbins Website BiggerPockets Bookstore MLS Apartments.com Cozy Buildium rentredi appfolio BiggerPockets Forums BiggerPockets Conference Check the full show notes here: https://www.biggerpockets.com/rookie135 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie podcast number 135 with my dad
0:06.9	Jay Simpson and I'm Lillia Simpson a future investor
0:15.5	So they're taking a risk trusting me with their money and buying this property and then making a profit on it and then paying them back
0:21.9	I think it's more focused on relationships like we talked earlier than the money and the money will come if you really are being
0:27.4	Authentic with people and truly care about taking care of people. It'll it'll work itself out
0:32.6	Amount the wrong podcast with like Ashley said a little bit different this today like what's what's going on?
0:37.1	Is everything all right by different you mean younger or youthful more sweet and innocent?
0:45.3	Yes
0:48.3	That was Lillia our special intro speaker today today is her birthday
0:55.9	So happy birthday Lillia and the reason we had her do the special intro is because our guest today is her one and only dad
1:08.2	Jay we have brought him on the show we actually got to meet Lillia and her dad Jay in Vegas when we were out there doing a recording
1:18.0	We had recorded with Jay and the microphone was not on so we are
1:23.9	Recording with him
1:25.9	There was like an hour and a half of just me and Ashley having some really good conversation and then like some blank spots
1:30.6	Raje was talking so we figured that wouldn't be the best kind of podcast
1:33.8	So we figured let's do it all over again, but he had a really good story and we're glad to get him back on
1:38.4	But before we dive into Jay actually what's new with you?
1:40.7	Give me like a life update. What's going on? So I just got back from like I feel like a cross-country tour of
1:47.2	Events so you know we did the bigger pockets conference together and I had gone to court Elaine self storage governance and then
1:53.9	I just got back yesterday from a seminar that I was speaking at on real estate investing in Florida
2:01.6	Met some awesome awesome investors
2:03.4	I took my kids with me and my mom and we turned into like a little mini vacation and that was super fun
	...

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