249: Net Worth of 6.5M - 35 Duplexes, 25 Houses, and Some Multifamily

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8 • 872 Ratings

🗓️ 25 July 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Zach has a current net worth of 6.5M which is comprised of almost all real estate including 35 duplexes, 25 single family houses and some multifamily. We discuss how he started in real estate (which included working as a broker and finding investment opportunities for other investors), the typical numbers on one of his single family rentals, mistakes made and general advice to someone who wants to get started in real estate.

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Transcript

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0:00.0	Like I feel like I've built this very slowly and I guess eight years is you know some
0:06.2	would see that as quick some wouldn't I think my mistake was that I was so I was
0:10.9	such a loner in the process that I didn't build relationships with people that could have helped me scale faster in different ways.
0:20.0	Although I'm pretty happy with being my own partner on my portfolio like I'm I prefer that actually
0:26.5	but just this most recent multi-family deal it's kind of opened my eyes to like, it takes me eight years to build a portfolio of a hundred,
0:36.0	and it took me 12 days to build a portfolio of, let's say it's 370 with two guys, you know, and that's just because of relationships. So I think my
0:45.5	mistake or what I you know would change would be just be more open with
0:51.2	people that are doing the same thing I'm doing instead of being so
0:54.9	closed off.
0:55.9	You're listening to the Millionaires Unvealed Podcast, where you'll hear the stories and interviews of everyday millionaires.
1:05.0	We'll unveil their decisions, their strategies, and their current portfolio allocation.
1:11.8	Now to your hosts, Clark Sheffield and J. Mattsonson.
1:17.0	Welcome back to another episode of the Millionozenville Podcast. This is episode
1:22.0	number 249. on most of it in real estate split between single family homes duplexes and some more recent
1:35.7	acquisitions for his portfolio in the multifamily space with themselves and some partners
1:40.8	It's a real interesting time out there with real estate values and prices. I think
1:45.8	we're starting to see the slowdown. Obviously the increase in interest rates is started
1:50.5	to cause, but definitely it would be something to pay attention to.
1:54.4	We obviously recorded this episode was Zach before, you know, rates started drastically increasing.
2:01.2	So maybe his portfolio has slipped a little bit, but we've not done a follow-up with him to ask.
2:07.0	So for all intents purposes, his net worth is at $6.5 million when we recorded. Last week we had Bob, his net worth was $3.5 million.
2:16.4	He came to the US in 1997 with only $800 in his pocket and worked his way up the corporate
	...

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