cover of episode 428: Using Simple Conversations to Get Deals Others Can’t with Investor Rodney Ross

428: Using Simple Conversations to Get Deals Others Can’t with Investor Rodney Ross

Publish Date: 2020/12/24
logo of podcast BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast
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Shownotes Transcript

    <p><strong>Rodney Ross</strong> didn’t have the most gracious entrance to the real estate space. He bought a house while in college, with only <strong>$8,000 down and not a lot in the bank</strong>. The house ended up getting de-authorized for tenants to live in so Rodney had to go back on his loan. Game over right? Time to give up? Not for Rodney!</p><p>While finishing college, Rodney decided to take it a bit slower, getting his <a href="https://www.biggerpockets.com/real-estate-companies/find-real-estate-agent-directory"><strong>real estate agent</strong></a><strong> license </strong>so he could build up the capital to buy rentals. He’s been an <strong>agent, a wholesaler, a general contractor</strong>, and a buy and hold investor. If it’s happening in real estate, Rodney probably knows about it!</p><p>Unlike many new (and even experienced) real estate investors, Rodney took the time to <strong>nurture leads</strong>, have <strong>meaningful conversations</strong> with sellers and buyers, and found that by having some basic empathy for the other party, you’re more likely to close deals.</p><p>This strategy seemed to have worked, in a decade since his first deal, Rodney now has around<strong> 20 cash flowing units</strong>, and he’s looking for more! </p><p>Using the <a href="https://www.biggerpockets.com/mortgage/home/getting-an-fha-203k-loan/"><strong>203k loan</strong></a>, Rodney has been able to get homes at a discount, finance the repairs, and get them rented and refinanced, kind of like a speciality <a href="https://www.biggerpockets.com/guides/brrrr-method"><strong>BRRRR</strong></a>. This episode proves that if you care about real estate, care about your partners, and are willing to take risks, it will truly pay off.</p><p>In This Episode We Cover:</p><ul>
  • How to get back up after a frustrating investment
  • How knowing about construction timelines and projects can help you get comfortable enough to do your first rehab
  • Why mixed use properties are often an overlooked real estate class
  • The importance of defining your role with your partner
  • How to talk to buyers so they’ll choose you over other offers
  • Why it’s so important to look out for the other real estate parties in a deal
  • And SO much more!

    • Links from the Show

    Check the full show notes here: http://biggerpockets.com/show428

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