812: 17 Properties in 3 Years Thanks to “Non-Stop Rejection” w/Jason Lee

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 31 August 2023

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jason Lee owns more rental properties than most full-time real estate investors. But, he didn’t do this by investing after the last housing crash, inheriting millions from his parents, or buying a hundred-unit apartment building at once. Actually, Jason seemed like the least likely person to end up as a big earner. He was raised in a household where finances were a constant source of contention, and he only went to college to play sports. Jason’s parents gave him one choice: become a doctor, lawyer, or other high-skilled professional, so he wouldn’t have to struggle like they did. After scraping through pre-med classes, living in the library, and dedicating all his time to school, he thought what every real estate investor thinks, “Maybe this isn’t the right path.” After having a sudden mental breakthrough, Jason knew he couldn’t continue. So what did he do instead? Real estate. He was working (for free) four days a week and going to school two just to level up his skills so that he could finally do what he loved when he graduated. His first deal almost blew up, he almost quit, and he got six figures stolen from him, but Jason is now back on top, only three years after graduating, with a portfolio in the eight figures. How’d he do it so fast? Stick around and find out. In This Episode We Cover Quitting a (potential) career to focus on what will REALLY build your wealth How non-stop rejection allowed Jason to become one of the most successful brokers/investors in his area Why working for free has a far higher ROI than most college students think Investing in an expensive market and why “cash flow” doesn’t matter How to NOT get scammed by a contractor and signs yours is stealing money Jason’s “formula for underwriting” and what he looks at most when doing deals And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Dave's BiggerPockets Profile Dave's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-812 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Recorded at Spotify Studios LA. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pogas Podcast coming at you from the Spotify Studios in downtown LA with episode 812.
0:07.6	I think it took about like a thousand conversations before I actually got like a really good lead.
0:12.2	You can't take the rejection personally because every single person that gets in a real estate, you get rejected.
0:17.6	Everyone's gonna tell you know in the beginning and it's just a part of getting into the game.
0:21.2	It's like the gate you need to walk through in order to become a real estate salesperson or an investor.
0:30.0	It's going on everyone. This is David Green. You are host of the Bigger Pogas Real Estate Podcast.
0:43.0	You're today with my co-host and partner in multi-family investing.
0:47.0	Also one of the smartest guys I know and incredibly funny for a smart guy.
0:51.0	We'll say that as well. In addition to being good looking, you sort of hit the trifecta of what we want in a podcast host.
0:56.0	So thank you. Andrew Krishman everybody.
0:58.0	Good. I don't know what to say after that man. That's untoppable.
1:01.6	I left you speechless. That's how I keep more mic time.
1:03.6	I just say everything you were going to say like Eminem in eight mile and you have nothing you can do to reply.
1:07.6	Yeah, you wrote right. No, I'm doing doing well. Glad to be here in person.
1:12.4	Glad to be back in California. Been traveling a lot. Good to be home, especially since they dropped the charges.
1:18.4	Oh, good to know. And also thank you for pretending like you understood that Eminem joke, which I know you're going to ask me later what the hell that meant.
1:25.4	In today's show you and I interviewing Jason who's sitting here with us right now who has an incredible story that has gone from being a very hard working student in school to a hard working broker to a successful broker to a bad ass real estate investor,
1:40.4	which is why you're being interviewed on the biggest the baddest and the best real estate podcast in the world. So glad that you're here.
1:46.4	Andrew, what should our listeners keep an eye out for to help them in their own investing journey?
1:50.4	There's a whole lot throughout the entire show Jason drops all kinds of knowledge and just in inspiring things, but I would say two that really stood out to me.
2:02.4	One, you know, he talks about he just worked his tail off to get that first deal got it right to the finish line and then it seemed like the whole thing blew up on him.
2:12.9	And it almost took him out of the game. It was almost emotionally crushed him and what he did part of how he got past that he's zoomed out and looked at the big picture and the skills that he had learned in the business in the pipeline that he had built and that helped him carry through and make sure you listen through to find out how he did eventually end up saving that deal.
	...

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