Florida, Denver, California discussed on BiggerPockets Money Podcast

Automatic TRANSCRIPT

Rental property that you're getting paid to own the cash flows and and you gotta have the eighty to seventy eighty thousand dollars to go in and buy the deal which comes right back to that whole financial foundation thing right this is a tougher deal if you don't have that money in the first place right how did you have to do all that work at the same time so yes the only reason i can buy that house for the price i'm paying for it is that it won't qualify for conventional financing because it's in such bad shape k so as a cash buyer immediately i limited ninety five percent of my competition because only five percent of the investors out there can pay all cash right and i'm in florida where fifty grand goes really far that's a lot of money in florida it's nothing in denver in california so i basically found inefficiencies at every single level and i've maximize each one of them and then at the end they all come rolling back to me and i get way more money in aback than what i put in and this catch on property now you multiply that times two or three houses a month in and consider how much money you're adding to your net worth and your cash will ever year you are remarkable sir thanks long distance real estate investing had a bye rehabbing manage out of state rental properties and i talk in that book about these systems that we're talking about like how you maximize them at every level that book by the way is fantastic i read it recently actually listed i read it and then i listened to the audible version as well and it blew my mind and it's something that i'm going to attempt to transition replicate over the next couple of years myself so i think he's got wow so i just want to add before we get to the last segment of our show which is the new famous for i want to add that i am so excited about real estate just every single day and i am renewed renewed lee excited.

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