60: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 6 March 2014

⏱️ 112 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we are pumped to bring you one of the most exciting conversations yet on the BiggerPockets Podcast when we sit down with Serge Shukhat, a real estate investor from the Arizona area who is absolutely crushing it in real estate. Serge started with no rental properties just four years ago but has quickly built up a sizable portfolio with a mix of both single family and multifamily properties using creative finance methods and using the cash flow to quit his job. On this show we cover everything from getting started, choosing single family versus multifamily, tricks for dealing with tenants, increasing the value of your properties, and a ton more. This is definitely a show you’ll want to take some notes, so get ready to have your mind blown! In This Show, We Cover: How Serge got started while working full time How an Umbrella Policy can reduce your risk Landlord responsibilities vs. tenant responsibilities What kind of legal entity Serge uses Overcoming bad deals by “Doubling Down” How a competitive advantage can transform your business Working with real estate agents vs. getting your license Serge’s unique apartment that he’s bought and sold 4 times Hiring a resident manager to help reduce the load How to increase the value of your property by hundreds of thousands of dollars (OMG) And a lot more! Links from the Show BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager Newbies Take Note: Why You Shouldn’t Buy Houses for $30,000 by Ben Leybovich HomePath.com/ Buildium.com Books Mentioned in the Show Landlording on Auto-Pilot by Mike Butler The Real Book of Real Estate by Robert T. Kiyosaki Good to Great by Jim Collins The 7 Habits of Highly Effective People by Stephen Covey Tweetable Topics “Real estate never works out how you thought it would when you bought it in paper.” (Tweet This!) “I don’t want to work till I’m 65, sick, or corporate downsized.” (Tweet This!) “My biggest risk was not losing my job- it was not buying enough real estate.” (Tweet This!) “You can go broke buying good deals.” (Tweet This!) “Population, income, and jobs drive real estate.” (Tweet This!) “It doesn’t matter if the first deal is bad… at least you learned.” (Tweet This!) Take what the market gives you and be quick to pivot. (Tweet This!) Connect with Paul Serge’s BiggerPockets Profile 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 60.
0:04.0	You're listening to Bigger Pockets Radio,
0:06.0	simplifying real estate for investors large and small.
0:10.0	If you're here looking to learn about real estate investing without all the hype, you're in the right place.
0:16.0	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:22.0	Your home for real estate investing online.
0:25.2	What's going on everybody? This is Josh Dorkin, host that the BiggerPockets podcast,
0:30.0	here with Brandon Turner. What up Brandon? What up, Brandon?
0:31.9	What up Josh? I am excited about today's show.
0:35.0	I am also excited about today's show because we've pre-recorded the show and it's really fantastic.
0:41.0	It is awesome. It is life changing. So very, very cool. Yeah, yeah. So this show is a little bit longer than usual. So we're going to keep this front in nice and short for you guys. Before we get started, really quick, this is show 60 of the BiggerPockets podcast.
0:56.3	You can check out the show notes at bigger pockets.com slash show 60.
1:01.5	And of course on the show notes you can ask our guest any kind of questions that you've got for them about anything that we've talked about on the show. So definitely be sure to check that out.
1:12.0	So today's quick tip. Today's quick tip is make sure you try and get together
1:20.9	with your business partner or
1:23.1	or your spouse or whomever you're kind of doing your real estate business
1:25.9	with, you want to sit down with them.
1:27.9	What do you think, Brandon?
1:28.9	Probably about once a week.
1:30.0	Yeah, that's at least once a week, once a month.
1:32.2	I mean, whatever it takes, I guess, for your business. Yeah, at least once a week, once a month. I mean, whatever it takes, I guess, for your business.
1:34.1	Yeah, to basically sit on and talk about your business,
	...

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