229: Cashing In On Overlooked Off-Market Deals & Overcoming Analysis Paralysis w/Ryan John

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.7 • 1.8K Ratings

🗓️ 26 October 2022

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

Your network can be your most powerful tool inside and outside of real estate. Today’s guest, Ryan John, started his real estate investing journey after seeing his friends succeed in the investing space—including his childhood friend, Ashley Kehr. Ryan has been in the real estate game for a year and a half and has closed on two off-market deals—a house hack and a duplex. As all rookies know, trying to find and close on your first deal can be a mix of emotions. From excitement to fear to anxiousness and fulfillment, you go through various emotions when trying something you’ve never done before. While Ryan wanted to get started right away, he experienced a lot of nervousness regarding his first deal—waking up at three in the morning, scared he was missing something. But, unlike many other investors, he didn’t allow this to deter him from accomplishing his goals. Ryan prefers off-market deals because he doesn’t have to go through a realtor. An off-market deal requires more legwork but often comes with significantly better numbers. Becoming an investor has also given Ryan the freedom to make big life changes. Ryan went to his first real estate investor meetup and met investors with a wide range of experience. After attending, an incident at work prompted him to quit. Since he lives below his means and has cash-flowing rentals, he has the time and ability to breathe and explore his options before deciding his next steps. In This Episode We Cover How to overcome analysis paralysis and the fear of your first deal The pros and cons of off-market deals and how to find them in today’s market How to buy a small multi-family property and why they’re worth investing in House hacking 101 and how to make money using unused space on your property or in your home Time value vs. opportunity cost and how to know when it’s time to outsource The power of real estate meetups and being surrounded by motivated investors And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group The Real Estate Podcast Real Estate Rookie Podcast RentRedi Connect with Ryan: Ryan's BiggerPockets Profile Ryan's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-229 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 229.
0:05.2	I prefer the method of not being an apostor syndrome,
0:09.2	but just telling people, hey, I'm looking for property.
0:13.2	I've had property in the past, you know,
0:15.3	just primary residence that I ended up selling.
0:17.2	I didn't know about house hacking or really major flips.
0:21.3	And then when I met the guy that I put out the duplex from,
0:24.8	I just jumped right in at him, I figured I was nervous.
0:29.3	I was waking up at like 3am, sweaty and like,
0:32.5	I'm going to screw it up or something I had to have missed, right?
0:36.5	And just keep kind of researching and then realizing that once you get in it,
0:41.8	you just learn so much.
0:43.3	My name is Ashley Care and I am here with my co-host, Tony Robinson.
0:47.4	And welcome to the Real Estate Rookie podcast where every week,
0:50.8	twice a week, we're bringing you the inspiration information and stories you need to hear
0:54.1	to kickstart your investing journey.
0:56.0	And we oftentimes like to start the show with a quick shout out to folks
0:59.2	in the rookie community who have left an honest rating review for us on Apple
1:03.0	or whatever podcast platform you're listening to.
1:05.2	And today's review comes from Brave Smith 28.
1:08.3	And Brave Smith says, this podcast has been constantly pushing me
1:13.0	in my Real Estate investing career.
	...

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