312: Conquering Nightmare Rehabs While Working Full-Time with BRRRR Investor James Masotti

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 10 January 2019

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Excited about real estate investing and looking for a blueprint to follow? Well, you’re in luck! Today’s guest James Masotti is a well-rounded investor who’s piling up properties while working a full-time job. James shares how he consistently finds deals in a competitive market (it’s not through the MLS), how he funds these deals (it’s not with his money), and how he handles the common complications every investor faces. He also gives some great advice for acquiring properties already occupied by tenants, and explains how he keeps his partner and lenders happy even when things don’t go according to plan. He offers tips on planning for CapEx and dealing with the dark side of real estate investing, too. Plus, you won’t want to miss his advice when it comes to building funnels to find deals, as well as just what to look for when interviewing real estate agents. James has a straightforward, no-nonsense approaching to succeeding in today’s market and provides tons of good content for how you can do the same! Download this episode today! In This Episode We Cover: Jame’s entrance into real estate investing while having a professional career Cash reserves and how he plans for CapEx How he finds and funds deals Dealing with tenant evictions Finding the lender you need What a debt cover ratio is Why he continuously builds funnels How to handle when things go wrong Analyzing and overcoming the dark side of real estate investing! And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar Be a Guest on the Podcast Biggerpockets Investor Deal Diaries BiggerPockets Meetup and Events BiggerPockets Marketplace BiggerPockets Podcast 308: From 0 to 400 Units in 3.5 Years with Sterling White BiggerPockets Podcast 297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie Duke BiggerPockets Podcast 304: Using Incredible Strength of Mindset to Succeed Despite Overwhelming Obstacles With Nick Santonastasso The Blitzkrieg Rent Collection Plan for Landlords (Blog) What is CapEx in Multifamily Real Estate Investing (Blog) Biggerpockets Bookstore Books Mentioned in this Show The Book on Managing Rental Properties by Heather and Brandon Turner I Will Teach You To Be Rich by Ramit Sethi The Book on Estimating Rehab Costs by J. Scott The Richest Man in Babylon by George S. Clason Rich Dad Poor Dad by Robert Kiyosaki E-Myth by Michael E. Gerber Lifeonaire by Steve Cook Fire Round Questions How to create a deal in partnership? Late rent problems, let me know your strategy! What are the most important rules of thumb you use when analyzing properties? Tweetable Topics: “Real estate is very forgiving.” (Tweet This!) “When you’re looking to scale, you want to have reserves available.” (Tweet This!) “Don’t chase something that you’re not comfortable with because that’s when you get in trouble.” (Tweet This!) Connect with James Jame’s BiggerPockets Profile Jame’s LinkedIn Profile Jame’s Twitter Profile Jame’s Facebook Profile Jame’s Instagram Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is the Bigger Pockets Podcast Show 312.
0:04.0	Again, you have to be flexible to kind of figure it out, right?
0:06.7	And then what did you learn from it?
0:08.2	So the mistakes are going to happen.
0:10.1	And if you just sit there and analysis, paralysis, you're never going to get through it.
0:13.7	But just trying to be able to say, you know what, okay, how do I get to the next step?
0:16.8	How do I get to the next step?
0:17.8	How do I get to the next step?
0:18.8	Rather than either shutting down or just thinking, well, now I can't get the 400 units.
0:23.2	You're listening to Bigger Pockets Radio, simplifying real estate for investors
0:28.4	large and small. If you're here looking to learn about real estate investing without all the height, you're in the right place.
0:36.0	Stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.
0:42.0	Your home for real estate investing online.
0:45.2	What's going on everyone?
0:45.8	This is Brandon Turner, host of the BiggerPockets
0:48.0	podcast, here with today's awesome, incredible,
0:52.2	handsome co-host. Mr. David Green, how you doing, Handsome David?
0:56.0	Thank you, Brandon. It's the first time you've ever said anything nice about me actually.
1:00.5	You had this great look on your face that whole time.
1:03.0	Quizical. Like, why is he saying this? Where's the insult going to come from? I know.
1:07.0	I'm actually doing super good. We put six houses under contract this week on the David Green team.
1:12.0	Almost all people that are looking to house hacks. your contract this week on the David Green team.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.