From panicked newbie with just $1,000 saved to 40 rental units—in two years’ time!
On today’s show, we sit down with Henry Washington, a buy and hold investor from Arkansas who’s built a sizable portfolio while working full-time.
You’ll learn how Henry changed his mindset as he and his wife prepared to start a family and how he secured his first deal by doing something anyone can do—simply announcing to the world that he buys houses.
You’ll also learn how Henry built a deal pipeline by looking in places other investors didn’t, how he asked more experienced investors for help when he didn’t know what to do next, and how he does business with local banks to expand his portfolio.
Plus, Brandon and David dig into how to property screen tenants, how to decide when to flip or BRRRR vs. when to hold onto a rental, and how to use an online ad campaign to drive a steady supply of leads to your website.
This episode lays out a blueprint for building massive wealth. Just adapt it to your market, and work the process.
Don’t miss this one, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next!
In This Episode We Cover:How “panic” drove Henry to start saving and investingHow he started his investment career by simply “paying himself first”The list he used for his first (wildly successful) direct mail campaignThe lessons he, Brandon, and David took away from Rich Dad Poor DadWhy he told people he bought properties (before he ever did!)Why writing down his fears helps him conquer themHow he sought help from a more experienced investor on his first dealHow he used a 401(k) loan to buy a cash-flowing propertyHow he launched a Google Ads campaign to drive traffic to his websiteThe power of small, local banks to fund dealsWhy he holds open houses rather than individual showings for tenantsWhy the best real estate investors buy “situations,” not housesAnd SO much more!
Links from the ShowBiggerPockets Forumsbiggerpockets.com/podcastsurveyBiggerPockets Business Podcast 30: How to Guarantee Profit From Day 1 with Mike MichalowiczGoogle AdwordsLeadPropellerCozy.coTruliaRealtorHotPadsZillowCraigslistBiggerPockets BookstoreBiggerPockets Business
Check the full show notes here: http://biggerpockets.com/show366