181: 9 Doors While Deployed and Investing from Afghanistan, Iraq, and Africa

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 11 May 2022

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When you think about long-distance investing, what comes to mind? People usually have reservations about investing out-of-state, but today’s guests took it a step further and invested from halfway across the world. Today’s guest, Caleb Drake, has closed on nine doors with one flip underway. Caleb was active duty military for fourteen years, and once he joined special ops he was deployed for six months at a time. During those six months, his house would sit, unused, and that’s when he saw an opportunity. Caleb decided to rent out his house through Airbnb. As a new landlord and Airbnb host, Caleb had to learn by doing, a task that was increasingly more difficult since he was self-managing from Iraq, Afghanistan, and Africa. Caleb was able to combat this challenge by building a team that could handle what he couldn’t. After a few years of investing solo, Caleb joined a partnership to expand his portfolio and increase his profit. His partner was also out of the country, so they switched off who was “on-call” and figured out how to automate their check-in and check-out processes. As the business grew, the partnership adjusted to ensure its longevity. Caleb now hopes to continue to scale his business, add to his personal portfolio, and build wealth in the background. In This Episode We Cover The importance of building a self-sufficient team and how to do so Vetting your guests/tenants and how to target your ideal tenants How to invest out-of-state or overseas and automating your check-in processes Residential loans vs. commercial loans and how to figure out which one to use How to balance and adjust your partnership(s) as your business grows The importance of having a real estate agent with an investor mindset, plus how to find one And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Youtube Channel Real Estate Rookie Podcast Real Estate Rookie Facebook Group Real Estate Rookie Bootcamp Airbnb BiggerPockets Forums The BiggerPockets Conference 2022 IGMS Alpha Geek Capital Rentometer BiggerPockets Calculators BiggerPockets Insights Connect with Caleb: Caleb's Email Caleb's Instagram Check out the full show notes here: https://biggerpockets.com/blog/rookie-181 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Real Estate Rookie episode 181.
0:04.6	I would say I think it's kind of cliché but network, network, network, network.
0:09.2	Everybody tell everyone what you are doing and what you want to do.
0:14.4	Whether that's, hey, I want to buy an off-market property or hey, I've got a quadplex and I want to fix it up.
0:21.7	Somebody's going to be able to help you in that and you know, you'll be able to create relationships
0:28.2	in the long run. Go to investor meetups, go to, you know, go to the bigger pocket forums,
0:33.2	ask the questions and just tell everyone.
0:35.3	My name is Ashley Care and I am here with my co-host, Tony Robinson.
0:39.5	And welcome to the Real Estate Rookie podcast where every week, twice a week, we give you the
0:44.0	inspiration, information, and amazing stories you need to hear to get started in your Real Estate
0:49.1	investing journey. Ashley Care, my wonderful co-host from the Terrible State of New York,
0:53.6	what is going on?
0:56.6	Well, just a couple weeks ago we finished the Real Estate Rookie boot camp weekend in Denver,
1:03.8	Colorado where Tony and I had about 300 rookie investors come to the Gaylord Rockies.
1:10.6	I just want to thank everybody who came to the conference and I hope you learned a lot and
1:15.2	were able to network and meet some people that will become lifelong friends and colleagues
1:21.0	or business partners in the future.
1:22.8	Yeah, and Ashley, I love how you glossed over me saying Terrible State of New York.
1:28.3	So I love to get asked your hard time because the weather in New York is always so terrible
1:32.5	compared to where I'm at in California. It's not only the weather, I mean, there's the
1:36.2	kind of landlord laws, there's the property theft.
1:39.2	The long closing time, yeah, now I think about it, you know.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.