cover of episode 167: 0 to 25 Units in Your First Year (Part-Time!) with Kevin Wood

167: 0 to 25 Units in Your First Year (Part-Time!) with Kevin Wood

Publish Date: 2016/3/24
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BiggerPockets Real Estate Podcast
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Shownotes Transcript

    <p>People have a lot of excuses about why they aren’t’ investing in real estate. <em>“I work too much.” “I live in an expensive area.” “I don’t know enough.”</em> But on today’s show, we sit down with a BiggerPockets member who is absolutely crushing it — despite a full-time job, living in Silicon Valley, and being brand-new to real estate. You’ll learn how Kevin Wood has managed to go from zero to twenty-five deals in under a year, largely using networking on BiggerPockets to make it happen. You’ll be inspired, motivated, and educated to get off the bench and jump into the game!</p><p>In This Episode We Cover:</p><ul>
  • How Kevin went from 0 to 25 units in less than a year
  • How to overcome the fear of buying that first deal
  • How BiggerPockets helped Kevin focus on his investing
  • The “condo mistake” Kevin almost made for his first deal
  • How to have a competitive advantage
  • Tips for approaching other investors
  • Why (and how) Kevin bought five houses at once for his first deal
  • The logistics of buying five properties at once as a newbie
  • How to know if you’re buying a good deal or not
  • The benefits of analyzing 100 deals
  • Investing in stocks vs. real estate
  • How to make a good partnership
  • Tips on working with partners — the good, bad, and ugly
  • How to introduce yourself on BiggerPockets
  • How Kevin got a $200,000 discount on his 6-plex
  • The 14-unit turnaround — and the drama associated with it
  • How to work with a designer to get the best look for a unit
  • A discussion on contractors and how to find them
  • How to manage a multifamily complex
  • The caveats associated with big fixer-upper deals
  • Tips on going for package deals
  • The genius negotiating strategy Kevin uses to get incredible deals
  • And SO much more!

    • Links from the Show

    Before and After Images

    Books Mentioned in this Show

    Tweetable Topics:

    • “Once you have that first deal, you suddenly become more legitimate.” (Tweet This!)
    • “Once the number makes sense, then we do everything we can to find the yes.” (Tweet This!)
    • “Never compromise in your returns.” (Tweet This!)

    Connect with Kevin

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