Buying 1,000 Rentals In 3 Years | Jennings Foster Smith

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.8 • 2.1K Ratings

🗓️ 7 June 2022

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s podcast I had Jennings Foster Smith on! Yes, he has three last names, but this guy is an absolute killer in real estate! In just three years, he went from flipping mobile homes having zero rentals, to owning over 1,000 apartments, a bunch of storage, and other things. If you want to hear his story about how he did that in such a short amount of time and not a lot of money, you definitely want to stay here for this podcast! Jennings also flips the script on me and starts giving me some questions to answer, so if you want to know what a guy who already owns 1,000 units wants to know from me, who doesn’t own 1,000 units, you definitely want to see this! This is what smart people do, they ask great questions and are always trying to learn!

Follow Jennings on social media!
Instagram - @jenningsfostersmithjr
Facebook - My First Million In Multifamily
Podcast - Unlock Your Life

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Jennings was first into construction and begin a flipping mobile homes! His first trailer was $5,000 and flipped it for $15,000. However, the owner destroyed the place and quickly stopped making his payments. He continued to flip and rent out trailers to better tenants.

Jennings says that he was able to scale so quickly by investing in his education and creating his story foundation in sales, relationships, confidence in himself, and more! Jennings also asked me some questions, so make sure you listen to what I had to say!

Transcript

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0:00.0	Today's podcast I had Jennings Foster Smith. That's right. He has three last names, but this guy is an absolute killer in real estate in just three years.
0:09.0	He went from flipping mobile homes, having zero rentals to owning over a thousand apartments and a bunch of storage and a whole bunch of other things.
0:18.0	So if you want to hear his story about how he did that in such a short amount of time with not a lot of money, you definitely want to stay here for this podcast.
0:26.0	Jennings also actually flips the script on me and starts giving me some questions to answer. So if you want to know what a guy who already owns a thousand units wants to know from me, he doesn't own a thousand units, you definitely want to see that because that's what really smart people do.
0:42.0	They ask great questions and they're always trying to learn. So with that being said, let's jump in the podcast.
0:48.0	Welcome to the Ryan Penaedish show.
0:50.0	Where our mission is to invest. I only expect to make money and things that I understand. It's about believing in the future and thinking that the future will be rather than the past and inspire.
1:02.0	I am much more likely to hit my goal just due to putting it out there.
1:07.0	Now, rocking with the best.
1:10.0	What's going on, everybody? Welcome to another episode of the Ryan Penaedish show today. I've got a real estate mogul who I've met and my buddy Tim Brotts' event before this man.
1:21.0	Interesting fact about him.
1:23.0	He is the man with three last names. I've gotten none other than Jennings Foster Smith. What's up, dude?
1:30.0	Appreciate you having me, man. Thank you, Ryan.
1:32.0	Yeah, when you told me your three last names, I was pretty shocked. What's the time in my life I've heard that?
1:37.0	Well, yes, family name. I'm actually a junior and my son is the third. We're carrying it on.
1:43.0	Yeah, your son's got a cool name for sure. Jennings Foster Smith, the third.
1:47.0	J-cubed.
1:48.0	J-cubed. There we go. So, dude, how far on what you got going on, man?
1:52.0	Yeah, you know, I was a construction guy and had a small, we built custom homes, renovated bathrooms, kitchens.
2:01.0	And got a sick of that. You know, that's a tough business to scale and to really make significant money with.
2:08.0	So, moved into rental properties, flipping trailers, single-family homes, and then got into multi-family real estate.
2:17.0	Got it. So, tell me a little bit about those early days of flipping the trailers, man.
	...

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