191: Buying Out-of-State Rentals and Investing Later in Life with Bill Manassero

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 8 September 2016

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on the BiggerPockets Podcast, we’re excited to introduce you to a man who didn’t start investing until later in life but has built an impressive portfolio in the past few years. Even more, he bought his rentals thousands of miles away from where he lives! You’ll learn the inspiring tale of our guest, Bill Manassero, and how he went from running an orphanage in Haiti to buying rental properties and the challenges that transition caused. You’ll also be inspired by Bill’s heart and his real purpose for creating wealth through real estate. You are going to love this powerful episode, and it just might change why you invest in real estate! (And don’t miss Bill’s story of how his family appeared on Oprah!) In This Episode We Cover: Who Bill is (and why he’s hung out with Oprah) Why he built an orphanage How his plans transitioned to real estate Thoughts on investing while nearing retirement The risk profiles for various ages How he focuses on family and not just the money How to reach your freedom number How he and his family got onto Oprah What exactly a turnkey property is — and Bill’s turnkey story A few red flags when it comes to turnkeys His goal of reaching 1,000 units How he finds properties The struggles of reaching his goal, from finding funds to working with the right people How he maintains the property And SO much more! Links from the Show BiggerPockets Videos BiggerPockets Webinar Child Hope International BP Podcast 115: Getting Started with Apartment Complex Investing with Jeff Greenberg BP Podcast 151: Finding Your “Freedom Number” with Clayton Morris Desperate for Tenants in Memphis [Forum Post] BP Podcast 190: Building 61 Different Passive Streams of Income with Pat Hiban BiggerPockets Forums Loopnet BiggerPockets Calculators TEDx Talk by Robert Kiyosaki [Video] 021: Buying Properties with Little or No Money Down with Brandon Turner[Podcast] Books Mentioned in this Show The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets The ABCs of Real Estate Investing by Ken McElroy The Book on Investing with No or Low Money Down by Brandon Turner Rich Dad Poor Dad by Robert Kiyosaki The 4-Hour Workweek by Timothy Ferriss Tweetable Topics: “I got tired of working for these other folks, so I decided to become an entrepreneur.” (Tweet This!) “I want to be able to go where I need to go.” (Tweet This!) “You gotta get in there and get your hands dirty, and that’s where the learning really starts.” (Tweet This!) Connect with Bill Bill’s BiggerPockets Profile Bill’s Company Website Old Dawg’s Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast Show 191.
0:05.0	You know, I want to be able to produce not only just nothing come from my family, but I also want to help support what we're doing in Haiti.
0:12.0	So, you know, what would that be and I kind of
0:13.8	calculated it out and so forth and I said I want to do a thousand units.
0:18.1	You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small.
0:25.4	If you're here looking to learn about real estate investing without all the height, you're
0:29.4	in the right place.
0:31.3	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:37.0	Your home for real estate investing online.
0:40.0	What's going on everybody? This is Josh Dorkin.
0:42.0	House to the BiggerPockets podcast here with my co-host
0:45.8	Brandon Turner. What's up, man?
0:48.4	Hey, not a whole lot. It's actually been the craziest real estate week of my entire life,
0:52.2	probably in terms of
0:53.0	sheer number of things going on two properties under contract two duplexes a
0:56.5	house listed a house sold and a tenant moving out and gonna list that one this
1:00.2	week all within a seven-day period. It's been insane.
1:02.6	Well, you're an impressive guy.
1:04.1	It's just been a weird fall, you know.
1:06.1	This has been, or summer, it's not quite fall yet, but not quite yet.
1:09.4	Well, congratulations, as we say Mazzauslau to you.
1:13.0	Thank you.
	...

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