cover of episode 203: Finding Deals, Funding, Contractors, and Mentors with Matt and Liz Faircloth

203: Finding Deals, Funding, Contractors, and Mentors with Matt and Liz Faircloth

Publish Date: 2016/12/1
logo of podcast BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast

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Shownotes Transcript

    <p>When learning how to invest in real estate successfully, most people struggle finding four things: mentors, contractors, deals, and funding. That’s why today we’re excited to bring back Matt and Liz Faircloth onto The <a href="https://www.biggerpockets.com/podcast">BiggerPockets Podcast</a> to talk about how they find each of these! <strong>Matt and Liz</strong> (who were on <a href="https://www.biggerpockets.com/show88">episode 88</a>) join us today as we dive deep into solving many of the problems that new investors struggle with. They also share the difficult story of how they recently shut down a major arm of their business and why it was the best move for them. Finally, Matt and Liz delve into the recent purchase of their 49-unit apartment building, offering some unique tips that will help you find and fund your next big deal!</p><p>In This Episode We Cover:</p><ul>
  • A recap of who Matt and Liz are
  • Why they purchase a combination of flips and rentals
  • What their “why” for investing in real estate is
  • How many deals they look at
  • A discussion on paying someone by the hour vs. by the job
  • The do’s and don’ts of finding partners through BP
  • How to “scale back
  • How to find good, quality contractors
  • Tips for dealing with bad contractors
  • How they got into rental units
  • The details of their 49-unit apartment complex
  • How they were able to finance a $3.4 million deal
  • A tip for finding property managers
  • Why they give away flat screen TVs each year to their tenants
  • And SO much more!
  • Links from the Show

    Books Mentioned in this Show

    Tweetable Topics:

    • “You’ve got to have a really solid ‘why.’” (Tweet This!)
    • “Sometimes you need to step back and ask yourself, ‘What am I really good at?'” (Tweet This!)
    • “If you got a good horse, keep running with it.” (Tweet This!)
    • “What you think is who you are.” (Tweet This!)

    Connect with Matt & Liz

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