cover of episode 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)

382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)

Publish Date: 2020/5/14
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BiggerPockets Real Estate Podcast
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Shownotes Transcript

    <p>Today we bring you Part 1 of back-to-back episodes with real estate investor/appraiser/author/all-around good guy <strong>Josiah Smelser.</strong></p><p>This first conversation was recorded pre-coronavirus lockdown, but it's <strong>packed with tips </strong>you can put into action today<strong>. </strong>You'll learn how Josiah solved the #1 bottleneck in his business (capital!), allowing him to <strong>BRRRR at scale </strong>and rack up rental properties with very <strong>little money out of pocket. </strong>Even more impressive: he's doing it long-distance (The properties are in Dallas, TX and Josiah lives in Huntsville, AL.)</p><p>And if that weren't enough, the guys go in-depth on <strong>appraisals</strong> – and the techniques you can use to help appraisers see your side of the story. Josiah's a longtime licensed appraiser, so he speaks from experience... and he shares his playbook for giving yourself the best chance to pull all your money out of your deal.</p><p>If you like what Josiah has to say, then be sure to check it <strong>Part 2 tomorrow</strong>. We bring him back on, post-COVID-19, to discuss the serious challenges he's faced: lenders pulling out, property values dropping, and even a domestic violence issue at one of his rentals.</p><p>The good news: he made it through. Tune in tomorrow to hear how!</p><p><strong>In This Episode We Cover:</strong></p><ul>
  • Why Josiah sold his properties pre-2008 crash (and why he still regrets it!)
  • Combining hard money and private money to BRRRR with no money out of pocket
  • How Josiah uses "boots on the ground" partners to invest at a distance
  • Why he analyzes 8-10 deals per day
  • Buying houses sight unseen
  • Why BRRRR investors must keep cash reserves
  • How to talk to appraisers (like getting out of a speeding ticket!)
  • Why a property's list price is irrelevant
  • Deals... on the MLS, in 2020?!
  • The square footage trick that's made him thousands of dollars
  • Losing out to a lower offer on a big multifamily deal
  • And SO much more!

    • Links from the Show

    Check the full show notes here: https://www.biggerpockets.com/show382

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