428: Using Simple Conversations to Get Deals Others Can’t with Investor Rodney Ross

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 24 December 2020

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Rodney Ross didn’t have the most gracious entrance to the real estate space. He bought a house while in college, with only $8,000 down and not a lot in the bank. The house ended up getting de-authorized for tenants to live in so Rodney had to go back on his loan. Game over right? Time to give up? Not for Rodney! While finishing college, Rodney decided to take it a bit slower, getting his real estate agent license so he could build up the capital to buy rentals. He’s been an agent, a wholesaler, a general contractor, and a buy and hold investor. If it’s happening in real estate, Rodney probably knows about it! Unlike many new (and even experienced) real estate investors, Rodney took the time to nurture leads, have meaningful conversations with sellers and buyers, and found that by having some basic empathy for the other party, you’re more likely to close deals. This strategy seemed to have worked, in a decade since his first deal, Rodney now has around 20 cash flowing units, and he’s looking for more! Using the 203k loan, Rodney has been able to get homes at a discount, finance the repairs, and get them rented and refinanced, kind of like a speciality BRRRR. This episode proves that if you care about real estate, care about your partners, and are willing to take risks, it will truly pay off. In This Episode We Cover: How to get back up after a frustrating investment How knowing about construction timelines and projects can help you get comfortable enough to do your first rehab Why mixed use properties are often an overlooked real estate class The importance of defining your role with your partner How to talk to buyers so they’ll choose you over other offers Why it’s so important to look out for the other real estate parties in a deal And SO much more! Links from the Show BiggerPockets Forums David's Instagram Brandon's Instagram BiggerPockets Podcast BiggerPockets Store Keller Williams Wells Fargo Check the full show notes here: http://biggerpockets.com/show428 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 428.
0:04.7	They said, Hey, I just want to let you know we got your offer for a team that by the way, no proof of funds, no nothing.
0:08.8	Like we got you off of 18.
0:10.8	We've met this other guy who's a cash buyer and it was like 50 places in the area.
0:14.2	You offered us 20 and I was like, OK, well, that's that's it.
0:16.7	But they hang up.
0:17.6	She's like, well, we're going to go with yours.
0:20.7	I was like, why would you go with mine?
0:22.5	Like, well, we like you better.
0:24.9	You're listening to bigger pockets radio, simplifying real estate for investors,
0:29.5	large and small.
0:31.2	If you're here looking to learn about real estate investing without all the height, you're in the right place.
0:37.1	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:43.1	Your home for real estate investing online.
0:46.0	What's going on?
0:46.5	Everyone's Brennan Turner host of the bigger pockets podcast and I got one thing to say to you.
0:51.9	My co-host, Mr. David Green, Mary Christmas, buddy.
0:54.7	Merry Christmas to you as well.
0:59.3	You look like a slim fit young Santa Claus.
1:02.3	Wow.
1:02.9	Thank you.
1:03.3	That's actually what I've been going for.
	...

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.