22: 5 Rentals on Autopilot with Full-Time Highway Patrolman Ruben Galindo

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 29 July 2020

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Curious how to manage a rental portfolio in your limited free time? Learn from today's guest Ruben Galindo, who had his hands full managing hundreds of law enforcement officers in Texas... but didn't let that stop him. Ruben is 48 years old, and in the past five years, he's acquired five rental properties that require about an hour of his time each week. In this episode, he'll teach you how he uses Cozy and Docusign to do everything virtually, how door knocking led to one of his best deals, and how he leverages his 401(k) in his real estate business. Ruben didn't jump in until his 40s, but he already has experience with buying a foreclosure, helping a seller avoid foreclosure, a short sale, and a straightforward live-in flip (where he currently lives). Not bad for a relative rookie! If you pick up any tips from Ruben or have questions for him, leave a comment in the show notes at biggerpockets.com/rookie22. And if you're feeling extra generous, leave us a rating and review in Apple Podcasts. In This Episode We Cover: How Ruben automates his rental property management Building and maintaining a network of contractors The accounts where Ruben, Ashley, and Felipe hold their reserve funds (Rookie Request Line question! 1-888-5-ROOKIE) Buying a HUD foreclosure Helping a family avoid foreclosure by temporarily taking over payments Hiring an attorney on a tricky pre-foreclosure deal How door-knocking helped him beat his competition How to avoid over-leveraging yourself as a rookie And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast Cozy Zillow Venmo Cash App HUD Home Store Rookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse Rasmussen AppFolio Buildium BiggerPockets Podcast 352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 Doors BiggerPockets Events and Meetups Check the full show notes here: http://biggerpockets.com/rookie22 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie show 22.
0:04.4	I've had a good solid team. Now I need to continue to build on that because it doesn't mean that that one person is going to be there forever.
0:16.0	So I need to continue to grow that team just in case. Hey I am Ashley Kerr and I am here today with my wonderful co-host Felipe Mejia
0:31.6	who has promised me a matching t-shirt so we can match on one of the episodes
0:36.8	so we have to hold him to that.
0:39.6	Absolutely so I'm wearing my Mexico soccer jersey.
0:43.0	One of my favorite ones is this black and green neon with it.
0:45.4	But anyways, I'm going to send you on Ashley and we will do one together.
0:48.8	Okay, but I have to tell you something and you could probably tell I was a little frazzled today when we first
0:53.7	hop on to record this episode because I had bank fraud happen on one of my property accounts
1:00.7	and the bank is like their system is down so they can't even pull the checks but I was able to pull it on my online banking and I had to send them to them but it's like not even my checks and to make it all worse the person the checks were written out to is someone I
1:15.0	know that I had hired for a short time to clean the air to be and be so I'm
1:20.3	really hoping that like someone just stole her identity or something like that, but we will see but it's been like a stressful day and after this I have to go file a police report.
1:31.0	Man, that's tough actually. I'm so sorry that happened.
1:33.0	I know that that can be stressful because at the end of the day, one, you know your money's okay, but it's still the wasted time and I hate
1:40.0	that because I hate more wasted time than wasted money and if somebody in my instance needed it I would rather just let them borrow it or have it then steal for me.
1:49.0	So that sucks. I'm sorry that's going on.
1:52.0	Yeah, well I have to say that I'm in a way better mood after we recorded this awesome
1:57.0	podcast recording with our 48 year old police officer who started investing. How old was he when he started? I mean fairly
2:06.0	recently. Yeah he said he really recently started investing in real estate.
2:10.4	He's a full-time police officer, was it is or was in the military, and still
2:15.4	found the systems in place using Cozy and a couple other tips that I'm not going to give out
	...

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