#364: Meet Darius: From $10k & ZERO Knowledge to 9 Rentals in 6 Years
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 7 October 2024
⏱️ 33 minutes
🧾️ Download transcript
Summary
⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom:
https://www.coachcarson.com/rpm
🎙️ Episode #364 – Darius transformed Pontiac's downturn into his personal success story, starting with homes under $10K and scaling up to 9 properties. By mastering DIY renovations and strategic financing during tough economic times, he reveals the key strategies that can help any investor thrive in a recovering market.
▶️ Next Episode: Tenant Screening 101 For Landlords | with Pam Storm from Rent Marketplace
📄 Show Notes:
https://www.coachcarson.com/rewithd/
🎬 Timestamps:
0:00 - Turning a Downturn into a Personal Success Story
1:08 - Darius' Investing During Tough Times
4:16 - Darius' life when Starting his Real Estate Career
7:10 - Where Darius Saw Opportunity Despite Tough Economic Times
7:56 - Breaking Down the Numbers
9:12 - Big Learning Curves
11:33 - Growing his Confidence as an Investor
13:50 - Thinking Outside the Box
15:09 - How Darius Grew his Portfolio
18:41 - Balancing a Full-Time with Real Estate
21:07 - Screening Tenants
24:12 - Standing Out from the Competition
25:21 - Learning from the "scars"
32:11 - Screening and Picking the Best Tenants for your Rental
🔗 Connect with Darius:
- Instagram: https://www.instagram.com/darius_oneofone/
- Website: https://rewithd.com/
- YouTube: https://www.youtube.com/@darius_oneofone
- Facebook: https://www.facebook.com/realetstatewithdarius/
--------------------------
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https://www.coachcarson.com/toolkit-pod
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🐦 https://twitter.com/CoachChadCarson
💰 DealMachine – Software to help you buy more real estate deals: https://www.coachcarson.com/dealmachine
Transcript
Click on a timestamp to play from that location
| 0:00.0 | I saw a house on HomePath.com. I ended up purchasing that home, went in that bid for about |
| 0:04.4 | $9,100. That's Darius Keller, an investor who turned Pontiac, Michigan's economic downturn |
| 0:09.7 | into his personal success story, starting with major fixer upper houses that he bought for under |
| 0:15.1 | $10,000. Instead of sitting in front of the TV moping and crying like everybody else, I'm about |
| 0:19.8 | to go pick up some property for discount, you know? In this episode, you'll learn how Darius started from nothing in 2014. |
| 0:26.4 | I knew nothing. Like, I didn't even know how to use a drill. But what happened is I was always |
| 0:30.9 | nice to people and I met an engineer. How Darius creatively financed and scaled to nine properties. |
| 0:37.0 | I had like four properties and I pulled mortgages on three of them. |
| 0:41.3 | So I ended up getting about $280 plus $1,000 cash. |
| 0:45.6 | And his advice for any investor who's starting with $10,000 or less. |
| 0:49.3 | So if you can find a house that has minimal repairs and you can put that small like |
| 0:53.0 | 3% down and make sure you get it |
| 0:55.1 | inspecting and stuff. I would go that route. And now we're going to dig into all of that and more. |
| 1:03.3 | I was thinking about any good story, particularly in real estate stories. You have to know where somebody comes from. |
| 1:12.4 | You got to know the market, the location. |
| 1:15.2 | And I was looking up some details on the region of the country where you're from in Pontiac, Michigan. |
| 1:20.6 | And I was really interested looking at your market. |
| 1:22.8 | I was hoping you could kind of give me some insight from someone who's from there and who invests there. And one of the things was really interesting, just from the outside looking in, Pontiac was one of those areas that was like boomtown for a long time with the automobile industry, really big factories, really big economy. And then it looked like it had some tough times, you know, all the way to the point where, you know, the city government didn, didn't have enough money and your funding was an issue. But then it's come back and now you have this incredible appreciation rates, prices are growing, and you've kind of been in the middle of that. So I thought, could you just talk about Pontiac and talk about where you come from and what kind of this region in general? I think it's really interesting. Yeah, so I'm from Pontiac, Michigan. I also invest here. |
| 2:04.7 | And during, in 2014 is when I started investing in Pontiac. So like when I started, it was like |
| 2:09.7 | the recovery phase. So we got a hit real similar to like how Detroit was. We're 35 minutes out |
| 2:15.4 | from Detroit roughly. You know, after 2014, maybe to about |
| 2:18.6 | 2018 is when we started to see some kind of growth as far as value with the real estate. |
... |
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