498: Real Deal: BRRRR Deep Dive w/ Joe Asamoah (Pt 1)

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 26 August 2021

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

When most people think about section 8 housing, they think of run-down homes, troublesome tenants, and negligent landlords. This stereotype may prove true in some markets, but for Dr. Joe Asamoah, this is far from reality. Joe has built his real estate portfolio by renovating homes to an incredibly high standard, situated in some of the best neighborhoods in the DC market, and all while under section 8 housing. Joe figured out early on that section 8 housing authorities gave much more rent money for houses with 5 bedrooms and up, so he started renovating to match the rent section 8 could provide him. This not only allows him to take home a sizable profit, but score tenants who will respect his homes as their own, and stay there for 15 to 20 years minimum. This is no joke, Joe has tenants who have been with him for two decades! You’ll see a deep dive of Joe’s latest property in today’s episode, complete with pictures, videos, and other helpful visuals. If you’re only listening to this podcast, we’d highly recommend checking out the video version over on the BiggerPockets Youtube channel! In This Episode We Cover: What the “Big City BRRRR” strategy entails How to control tenant turnover so you have ZERO vacancy Using section 8 to take in higher rents How to create a top tier product that attracts top tier tenants Becoming the best landlord a tenant could ask for Adding bedrooms, bathrooms, and getting permits for everything in between And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Calculators BiggerPockets Pro Membership BiggerPockets Youtube Channel BiggerPockets Bookstore Brandon's Instagram David’s Instagram BiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe Asamoah Rookie Podcast 03: Coronavirus Crash? Do's and Don'ts from Recession Veterans Joe Asamoah and Steve Rozenberg BiggerPockets Youtube: Big City BRRRR Strategy & Recession Proof Cash Flow Real Estate with Joseph Asamoah! Check the full show notes here: https://www.biggerpockets.com/show498 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast show 400 and 98.
0:05.8	I start with the ending mind,
0:06.9	who am I trying to attract?
0:08.0	And I buy in those areas where I can attract those.
0:10.8	I renovate with the understanding
0:14.1	what the tenant is looking for.
0:15.8	And to renovate in such a way that it's going to attract
0:19.3	and retain the type of tenant I'm desiring,
0:22.8	then obviously the renting part, which is the key
0:25.9	because I'm looking for zero turnover.
0:28.3	So it's not just a matter of just finding somebody,
0:30.8	but it's carefully screening in such a way
0:33.3	that you get what I call a tier one tenant.
0:36.7	You're listening to bigger pockets radio,
0:39.2	simplifying real estate for investors large and small.
0:43.0	If you're here looking to learn about real estate investing
0:45.6	without all the hype, you're in the right place.
0:48.8	Stay tuned and be sure to join the millions of others
0:51.7	who have benefited from bigger pockets.com.
0:54.8	You're home for real estate investing online.
0:57.9	What's going on tomorrow, it's Brent Turner,
0:59.2	host of the bigger pockets podcast here with my co-host,
	...

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