338: From Red Robin Waiter to 250 Units (Using the MLS!) with James Dainard

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 11 July 2019

⏱️ 87 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

From waiting tables to scaling up to 250 units! Today’s show is going to blow your mind. Brandon and David sit down with James Dainard, a real estate investor in the Seattle area, who is using his broad knowledge of real estate investing to do some big things! James shares how he got started door-knocking for someone else’s company to learn the business—and things took off from there! He also shares how he’s finding 60 percent of his deals from the MLS, how he uses local zoning knowledge to find opportunities others are missing, and how he made over a million dollars off an MLS flip! James has some GREAT strategies he uses, including combining flipping, wholesaling, and BRRRRing; improving the return on his equity; and “inventing returns." You’ll also be blown away at how he created a 60-room rental (!!!) property that earns over $9K a month and how he saves money on maintenance and property management by running it all in-house. James is a smart, humble, and experienced investor doing some very impressive stuff. Download this one today! In This Episode We Cover: How he got started door-knocking for someone else’s company Story behind his first deal How he bought a 60-room house How he got to over 200 units all single-family Combining wholesaling, flipping, and BRRRR What he looks for in an area and using zoning knowledge to find opportunity Profiting $1 million on a flip he found on the MLS About his apartment complex that was on the market for 200+ days How he uses flips to fund his rentals Getting 60% of his deals off the MLS How he calculates the return on his equity Why he hires people in-house to manage properties and do maintenance How he BRRRRed a deal with no money left in that cash flowed $2K a month His unique method for “inventing” returns And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Premium Forum Thread about BiggerPockets Premium BiggerPockets Youtube Page BiggerPockets Podcast 302: Making $100k/Deal Using Other People’s Money, Time & Experience with Cory Nemoto Brandon's Instagram David's Instagram Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 338.
0:04.0	And then as the first time, Flipper, the most important thing I can tell you is don't spend your profits, save your profit.
0:09.0	It's really easy to get your first check and just blow it.
0:12.0	Save it because then you don't have to bring in those equity
0:14.2	partners. It saves you so much money down the road.
0:17.4	You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small.
0:23.6	If you're here looking to learn about real estate investing
0:26.2	without all the height, you're in the right place.
0:29.4	Stay tuned and be sure to join the millions of others
0:32.4	who have benefited from bigger pockets.com
0:35.4	your home for real estate investing online.
0:38.4	What's going on everyone? This is Brandon, host of the BiggerPockets podcast here with the co-host the or the David Green.
0:48.0	What's up buddy?
0:49.0	Not much man, just another beautiful day in California slang in homes and building wealth.
0:54.4	How's it going over there?
0:56.4	It's good. I woke up this morning, grab my phone,
0:59.4	got a text message from a guy named David Green standing in front of a mirror with some giant
1:06.4	guns these guns I knew this coming I mean these things are like these are like
1:11.9	illegal in 40 states like the yeah you know well looking good
1:15.3	I'm a police officer so we can get access to permits that other people can't
1:20.0	get thank goodness yeah so for those who don't know and don't think that I just wake up in the morning
1:25.5	and send selfie gym pictures to everyone I know, Brandon and I have recently discussed how he started
	...

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