cover of episode 393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman

393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman

Publish Date: 2020/7/30
logo of podcast BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast

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Shownotes Transcript

    <p>Real estate investing... old school!</p><p><strong>Rick Jarman </strong>(@realestateoldschool on Instagram) joins us today to share some of his hard-won wisdom from <strong>44+ years</strong> as a flipper and landlord in Tuscaloosa, Alabama. And it's <strong>quite the journey,</strong> from cabinet maker and campus maintenance man to cigar-puffing 64-year-old social media influencer!</p><p>In this episode you'll hear tales of <strong>up markets</strong>, <strong>down markets</strong>, losing it all, getting it all back... and a <strong>tornado</strong> that wiped out 20 of Rick's <strong>100+ rental houses</strong>. He also takes us through his rules for <strong>tenant screening</strong>, explains why he favors<strong> 15-year mortgages</strong>, and paints a picture of what it's like to <strong>self-manage</strong> such a large portfolio of single family homes (with a team, of course).</p><p>Give Rick a follow, and if you know someone who'd make a great guest on the BiggerPockets Real Estate Podcast send them over to <a href="https://airtable.com/tbleGMIyBenEoyboU/viwgoO69lRa3w2JCJ/biggerpockets.com/guest"><strong>biggerpockets.com/guest</strong></a> where they can apply to appear on the show.</p><p>In This Episode We Cover:</p><ul>
  • How Rick went from maintenance guy to owning 100+ properties
  • Selling his truck to buy his first rental in 1981
  • Investing lessons learned through 4 recessions
  • Why his rentals saved him when his home building business failed in the late 90s
  • Losing 20+ houses in a tornado in 2011
  • Rick's tenant screening process
  • Why tenants' credit scores don't tell the whole story
  • Wrapping 40+ houses into one loan
  • Why some investors "get bored with what works"
  • And SO much more!
  • Links from the Show

     Check the full show notes here: http://biggerpockets.com/show393

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