Starting A Real Estate Empire: Lessons From The $1B Man
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 802 Ratings
🗓️ 29 August 2022
⏱️ 33 minutes
🧾️ Download transcript
Summary
In this episode Ryan asks JP what he looks for when investing in a new city and tries to convince JP to invest in his hometown of Cleveland, Ohio.
JP outlines the exact process he uses when evaluating new real estate markets.
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*None of the information presented in this podcast is investment advice and is for entertainment purposes only.*
Transcript
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| 0:00.0 | I have a business idea that I've been kicking around for a couple of years, that I just can't keep in anymore. |
| 0:10.0 | But it's in an industry that I've been hesitant to get into because I really don't know anything about it and it's completely different from what I've been doing. |
| 0:17.0 | And basically, I want to invest in my hometown of Cleveland, Ohio. Cleveland, Ohio is where I was born |
| 0:23.6 | and bred. And I haven't lived there for 10 years, but I feel called to be part of it in some way. |
| 0:30.0 | And I'm not going to go live there right now, but I want to invest in it because I really do believe |
| 0:34.2 | that it is the next hotbed of America. It has so much going for it. It is, |
| 0:39.0 | I think, the next city on the rise. So I sat down with my mentor, JP, and I asked him, |
| 0:43.7 | how would I even get into this game? Because he manages like a billion dollars in real estate. |
| 0:50.1 | He runs this very successful fund that invest in real estate all over the country. I'm actually |
| 0:54.4 | sitting in the headquarters of it right now in this beautiful office. And so I asked JP, what advice |
| 0:59.9 | would you give to me as someone who's entering a new industry and somebody who's thinking about |
| 1:04.3 | going in this direction? And really, I'm just running on passion and excitement right now. So after |
| 1:08.9 | decades of experience, how would you advise somebody like me? |
| 1:12.1 | And so we sat down and he gave me the answer I was looking for. I hope you find value in this |
| 1:17.0 | episode with JP and I from the Investing on Purpose podcast. Hey, JP. Hey, Ryan. We're back. We're back |
| 1:23.5 | for stronger than ever. Another episode of Investing on on purpose. And I have a personal topic for |
| 1:29.8 | today because we started this podcast, the idea of this podcast came from a trip that we were on in |
| 1:35.9 | Utah. Yes. And during that year ago, by the way, a little less than a year ago. That's right. |
| 1:40.0 | And while we were on that trip, I went and saw some of the deals that you were working on. |
| 1:44.4 | And there was one deal in particular that stood out to me. And it was this complex that was |
| 1:49.7 | workforce housing. And this woman who was a single mom gave us a tour of her apartment. |
| 1:56.2 | And she was like the assistant manager of the place. And I think you had an agreement of |
... |
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