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Real Estate Rookie

39: $500 Per Door on Multifamily Properties (During COVID!) with Thomas Tsitouridis

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 25 November 2020

⏱️ 55 minutes

🧾️ Download transcript

Summary

Thomas Tsitouridis is truly a jack of all trades. As a kid, he was used to helping on the project-management side of his parent’s 64-unit apartment building (taking out the trash, helping with tenants, and so on). He later realized that real estate investing would hold a special place in his future. Thomas later worked for a construction manager, then chose to start his own construction business, property management business, and long term buy-and-hold business. Using the experience and cash flow from his construction business, Thomas found that he could amplify his money by buying deals and using his own team to do the construction and rehab. Now Thomas (and his partner) are buying multifamily deals, fixing them up, and getting sustainable cash flow, so they can retire early. Within his first year as a real estate investor, he has already learnt a lot. Thomas shares some great tips on tenant management, system automations, construction, and even financing so you can get better ROI earlier on! In This Episode We Cover: What to look for when partnering up with other investors The importance of having a great broker on your team Why you need to take action and lock down your first deal How to facilitate a rent increase while having empathy for tenants How to split responsibility between you and your partner Why ARM loans are a great choice for the BRRRR strategy Managing tenants while controlling your own emotions Why you need to ask the stupid questions to be smarter later on How to start automating everything in your real estate business And SO much more! Links from the Show Real Estate Rookie Facebook Group Ashley's Instagram Tony's Instagram Realtor.com BiggerPockets Calculators BiggerPockets Insights Chase Buildium Tidying Up with Marie Kondo Check the full show notes here: https://www.biggerpockets.com/rookie39 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 a real estate rookie show number 39er

0:09.3

So, always look at things long term.

0:11.0

So especially a buy and hold strategy you're not looking to

0:13.7

sell this in a year two years three years we're looking 10 years 20 years

0:17.5

30 years down the line we want to have cash flow. So I am Ashley Care and did you guys hear that?

0:26.4

I am Ashley Care and did you guys hear that?

0:30.0

Did it, what are you comfortable?

0:31.6

Walkie Talkie? Did get to a diner in there?

0:34.4

I have no idea what's happening right there.

0:37.0

Wait, I have to introduce you first, Tony.

0:39.0

And then I'm here with my co-host Tony Robinson,

0:41.8

who has no idea the Tommy boy quote. It was so heartbreaking.

0:46.0

So tonight he is going to watch Tommy boy and get to know all of the the Tommy boy quote.

0:51.6

All right, consider it done.

0:54.2

This is my commitment to you as partners.

0:56.3

I gotta go.

0:57.6

Tommy boy.

0:58.4

All right, done.

1:00.0

Does it repeat it 10 times until you can quote the whole movie with me?

1:04.0

So what's going on? What's new with you? I think I saw on Instagram. You might be selling some

1:09.9

property. Yeah, so we're me and my partners were actually liquidating almost all of our

1:14.4

long-term rentals in Louisiana. We're pivoting to the short-term rental game so

...

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