243: “How I Built 7-Figures of Wealth on a Working-Class Salary” with Joe “JD” Martin

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 7 September 2017

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Let’s be honest: not everyone is trying to buy hundreds or thousands of properties. In fact – just a small handful of incredible deals can help build impressive wealth AND great income. That’s the story you’ll hear today as we speak with Joe “JD” Martin, a real estate investor who’s building wealth while working his full-time job. As you’ll hear, JD had a rough start to his investing, losing over $100,000 on his first “deal,” but came back to create a stable, cash-flowing portfolio of single family houses that has given him financial freedom and over a million dollars in wealth. If that sounds like a plan you can get behind – don’t miss a moment of this powerful episode! In This Episode We Cover: Losing six figures on the first deal The number one problem of that failed deal How Joe got back into investing again and the strategy he chose The details on his first rehab Landlords who hate being landlords How the quality of tenants matter The importance of knowing who you want to rent to Having a day job while investing A Simple investing strategy How he finances his properties What is Cashflow Recycling? The freedom to do what you love to do And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Pro Replay Josh’s Instagram Profile Brandon’s Instagram Profile Brandon’s Twitter Profile Josh’s Twitter Profile BiggerPockets Calculators and Analysis Tools Zillow Trulia Realtor Books Mentioned in this Show Real Estate Investing For Dummies by Eric Tyson & Robert S. Griswold Your Money or Your Life by Vicki Robbin, Joe Dominguez, & Monique Tilford The $100 Startup by Chis Guillebeau The Millionaire Next Door by Thomas J. Stanley & William D. Danko The 4-Hour Workweek by Timothy Ferriss Fire Round Questions Can I get started in real estate with $20k… and how? What’s your best advice for tenant screening? Electric vs Natural Gas Range/oven for tenants Tenant’s dog bit me on the leg Tweetable Topics: “A great place to live may not be a great place to sell to make some money.” (Tweet This!) “There’s no one path that works for everyone.” (Tweet This!) “You’re really just competing against yourself. There’s no competition.” (Tweet This!) Connect with Joe Joe’s BiggerPockets Profile Joe’s Personal Website Joe’s Band Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 2.43.
0:06.3	As we got some experience doing this,
0:08.1	and we haven't done a million deals like some of the guests,
0:10.5	but you know it's kind of in a slow and steady my my thing is you know hey you can be
0:15.6	just a regular old Joe and do this kind of thing you don't have to you don't have to
0:20.1	the guy out there swinging 50 50 50 apartments and leveraging it 80 or 85 percent.
0:25.6	And you can, I mean, we average out three or four a year and you know, and that's that's our
0:30.0	gig. And you know, but it's built a pretty good chunk of well.
0:33.4	You're listening to bigger pockets radio simplifying real estate for
0:38.1	investors large and small. If you're here looking to learn about real estate
0:42.4	investing without all the height you're here looking to learn about real estate investing without all the hype, you're in the right place.
0:46.0	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:52.0	Your home for real estate investing online.
0:55.0	What's going on everybody?
0:56.0	This is Josh Dorkin.
0:57.0	House of The BiggerPockets Podcast here with my co-host,
1:01.0	Mr. Brandon Turner.
1:02.0	What's going on, man? You you know Josh so I'm sitting here in
1:05.5	Scott Trench's office right now with this giant American flag
1:08.4	in America really patriotic because I'm actually here in Denver right now which is
1:12.3	unusual I don't live in Denver right now which is unusual.
1:13.0	I don't live in Denver which people don't realize that sometimes but no I am I'm
	...

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