426: Using the “Sunflower Method” To Buy 18 Properties in Just a Few Years with Teacher Jon Wooten

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 17 December 2020

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Many new investors find excuses for why they can’t buy properties. Either they don’t have the money, the deals, or the experience. Our guest today, Jon Wooten, had none of these three, but found a way to acquire 18 units (and become financially free) in only a few years. By asking questions and sticking out to the local real estate investors, Jon was able to acquire valuable experience, all while gaining equity in his rental properties. Jon has his own method for finding deals and acquiring wealth, called the “Sunflower Method”, which has helped him get to the point he is at. Now, financially free at 28, Jon has the ability to choose whether he wants to work, which projects to go after, and how he wants to spend his time. This isn’t a far away goal that only the rich and well connected can get to, it’s available for all real estate investors! You may be working a minimum wage job, stuck in a career you want out of, or have debt. Jon shows that all of these can’t stop you from acquiring wealth! How do you find houses? How do you find a mentor? What’s the best way to find a quality handyman? How can you make sure a house is being inspected properly. All these questions and more are answered in this episode! In This Episode We Cover: How to find a mentor AND get your first rental Why you should make it an effort to get to know your local real estate investors Why self-managing is a great way to gain experience How to get seller financing on a rental (and who to ask for it) Why you should call “for rent” signs What the “Sunflower Method” is and how it builds wealth The best way to find a quality (and inexpensive) handyman Fake cash flow vs Pure cash flow How to properly inspect a house before you make an offer And SO much more! Links from the Show BiggerPockets Forums David's Instagram Brandon's Instagram BiggerPockets Podcast BiggerPockets Store BiggerPockets Podcast 050: Getting Started and No Money Down House Flipping with Mike Simmons BiggerPockets Podcast 200: A Step-by-Step Guide to Buying Your First Real Estate Investment BiggerPockets Podcast 180: 58 Deals by Age Twenty-Three with Devan McClish BiggerPockets Podcast 355: From Small-Time Landlord to 1,000+ Units Under Contract with Ryan “The Mercenary” Murdock Open Door Capital Tony Robbins Check the full show notes here: https://www.biggerpockets.com/show426 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is a bigger pockets podcast show for 26.
0:04.0	But if you just stick with it and keep following the process, it gets easier and easier.
0:08.8	So you're one, you might make two, 50 a month, you're two, you might buy three or four houses,
0:13.2	and now you're at a thousand a month, you're three, you got tired of waiting and buying just two or three at a time,
0:18.5	and you might buy 10 at a time.
0:19.7	And who knows, by your three, four, five, you're going to be making $10,000 a month just by snowballing that process.
0:26.5	You're listening to bigger pockets radio, simplifying real estate for investors large and small.
0:32.9	If you're here looking to learn about real estate investing, without all the hype, you're in the right place.
0:38.8	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:44.9	You're home for real estate investing online.
0:48.0	What's going on with one of its brand turner, host of the bigger pockets podcast here with my co-host, Mr. David Green.
0:54.8	What's up, Mr. Long distance real estate himself. What's going on with you?
0:59.5	Well, it's end of the year. So I'm looking to buy a couple more properties that I have to do before 2021 comes.
1:06.4	So I'm kind of on the hunt, which is funny because I'm looking primarily in Tennessee,
1:10.0	mostly because I believe a lot of Californians are going to leave California and they're going to go to places like Tennessee as our property taxes
1:15.3	and our income tax are set to increase.
1:17.8	And today's guest was from Tennessee, lucky me.
1:20.8	So we got to learn a little bit about that market.
1:22.7	Yeah, today's guest is phenomenal today.
1:25.2	Our guest today is John Mouton. He is a biology teacher out of, yeah,
1:29.6	Chat in New York, Tennessee has some high school there and the guy is legit in terms of understanding real estate,
1:34.8	buying stuff, overcoming fear, finding deals.
	...

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