How To Quit Your Day Job Through Multifamily Real Estate Investing | John Geldert
The A Game Podcast: Real Estate Investing For Entrepreneurs
Nick Lamagna
5.0 • 101 Ratings
🗓️ 21 March 2022
⏱️ 61 minutes
🧾️ Download transcript
Summary
Join Nick Lamagna as he sits down with guest John Geldert, who is a former construction worker turned real estate investor from Long Island! John currently owns 85 doors and is a Limited Partner on an additional 460 units and counting! He started investing when he lived in his parents basement and worked himself out of his 9 to 5 gig going full time into real estate and even starting his own successful company GMG Home Inspections.
He has made money doing all kinds of different exit strategies over the years building up a lifetime of experience and hands on knowledge which he has taken to now scale up into multifamily real estate investing. Always a great time talking to fellow Long Islanders who are making big moves in the industry!
Topics for this episode include:
✅ How to make enough money in real estate to quit your day job
✅ Hard Money vs Private Money
✅ What is the difference between deferred maintenance and capital expenses (Capex)
✅ How to go from investing in single family homes to multifamily buildlings
✅ The unavoidable reality of paying for mentors
✅ What is a Limited Partner vs General Partner (LP vs GP)
✅ What's the best pizza on Long Island ➡️ More!
See the show notes to connect with John!
Thank you to Chris Cianciulli and Connexx for linking us up and many others! Check them out
Text Nick today to do some real estate deals together whether you are new or experienced at (516) 540-5733
Check out the affiliates page in our bio link to contact Maryann at Nationwide Business Capital Group to get some money for your real estate deals!
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Connect with John:
https://www.gmginspections.com/
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Connect with Nick Lamagna
Transcript
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| 0:00.0 | Welcome to the A-Game Podcast with Nick Lemanya, digging into the minds and experiences |
| 0:19.3 | of some of today's brightest entrepreneurs in real estate and business, along with Hollywood |
| 0:24.4 | stars, UFC fighters and your favorite rock fans. People that have figured out how to overcome obstacles, |
| 0:31.1 | take chances, live boldly, and no matter what they do, they always bring their A-Game. |
| 0:41.5 | All right, my guest today on the A-Game Podcast is my long Island Paisan John Yilden. He is |
| 0:46.8 | a absolute beast. People sleep on him. They don't even know what he's doing over there. He's |
| 0:51.2 | new to the podcast circuit, so we got him all of these fresh, but everybody's going to start |
| 0:54.9 | having him on and hearing his story over 500 something units now at this point, lived in Long Island, |
| 1:00.0 | had his W2 job invested in out-of-state properties before it was the cool thing to do while he lived |
| 1:04.4 | at home or lived in his parents' basement, had a construction background, has a home inspection |
| 1:08.9 | background now, and slowly just built it up by doing the same things everybody wished they did. |
| 1:13.7 | You know, having those properties that just bring in cash flow, eventually bring in equity, |
| 1:17.7 | doing the birth strategy, some flips, some rentals, then going into some bigger things, |
| 1:22.1 | getting into syndication, getting into some multifamily, and was able to replace his W2 |
| 1:26.9 | income that he worked for for years with some of his passive income, and has drastically |
| 1:30.6 | scared that up within the last three years. So you want to hear a guy who literally started, |
| 1:34.6 | blue collar guy, blue collar area, worked his way up against all the odds, and just created |
| 1:39.2 | an amazing success story that's only the beginning, who's just a good dude. You could just tell right |
| 1:44.2 | from the beginning his energy is awesome, he's humble, he's willing to share, he's an open book, |
| 1:48.1 | he's my kind of guy, I'm not just saying that because he's a Long Island guy, but shout out to |
| 1:52.0 | Christian, Julie and connects for putting that together. You guys are going to love this story, |
| 1:55.6 | we're beginning to some mindset stuff, we talk about his portfolio, we talk about all the things |
... |
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