1 hr 4 min
How to be a Creative Real Estate Investor | How to Manage Rental Properties Black Real Estate Dialogue
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- Investing
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This episode with Kevin Phillip was inspiring! Kevin began his journey renting two houses with his wife after upgrading their residence to accommodate their growing family. Unfortunately, those properties were rented out at losses.
After a string of evictions under the same property manager, Kevin and his wife knew they had to make a change. Their eventual success was a matter of going out of their way to educate themselves, being willing to get personally involved with each unit they acquired, and a lot of out-of-the-box thinking when it came to acquiring capital as they scaled.
In this episode, we discuss how Kevin sets his properties apart in today’s market, why he believes that discipline and setting expectations are vital to mitigating risk when taking out personal loans, and his approach to creative financing.
Highlights
1) When you first get into real estate, there are a ton of unknowns. Take some time to educate yourself on mindset, money management, and the world of real estate investing. And even then, allow yourself to make mistakes, simply because there is no greater teacher than experience.
2) A property manager typically becomes worthwhile once you’ve accumulated 60 units. Consider self-managing your properties until you get to that point. Make it a much smoother process by taking on quality tenants and sticking to a strict window of availability to limit phone calls.
3) Business success all comes down to a quality product positioned well and a clear picture of your ideal customer. With regards to being a real estate investor, it’s not so much about the current quality of the neighborhood, but about your standard of tenant and how you intend to attract that tenant to the neighborhood.
Learn how to invest out of state- https://www.outofstatemoney.com/
Access all of our resources on our website- https://www.blackrealestatedialogue.com/links
Join the B.R.E.D. Investing Community- https://bit.ly/joinbredcommunity
Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1
Learn how to find your first tenant- https://bit.ly/firsttenantcourse
Text BRED to 74121 to join our VIP Text List to get a free training and the latest updates!
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
Don't forget to subscribe, leave a rating and a 5-star review. I will be shouting out all 5-star reviews on the show!
This episode with Kevin Phillip was inspiring! Kevin began his journey renting two houses with his wife after upgrading their residence to accommodate their growing family. Unfortunately, those properties were rented out at losses.
After a string of evictions under the same property manager, Kevin and his wife knew they had to make a change. Their eventual success was a matter of going out of their way to educate themselves, being willing to get personally involved with each unit they acquired, and a lot of out-of-the-box thinking when it came to acquiring capital as they scaled.
In this episode, we discuss how Kevin sets his properties apart in today’s market, why he believes that discipline and setting expectations are vital to mitigating risk when taking out personal loans, and his approach to creative financing.
Highlights
1) When you first get into real estate, there are a ton of unknowns. Take some time to educate yourself on mindset, money management, and the world of real estate investing. And even then, allow yourself to make mistakes, simply because there is no greater teacher than experience.
2) A property manager typically becomes worthwhile once you’ve accumulated 60 units. Consider self-managing your properties until you get to that point. Make it a much smoother process by taking on quality tenants and sticking to a strict window of availability to limit phone calls.
3) Business success all comes down to a quality product positioned well and a clear picture of your ideal customer. With regards to being a real estate investor, it’s not so much about the current quality of the neighborhood, but about your standard of tenant and how you intend to attract that tenant to the neighborhood.
Learn how to invest out of state- https://www.outofstatemoney.com/
Access all of our resources on our website- https://www.blackrealestatedialogue.com/links
Join the B.R.E.D. Investing Community- https://bit.ly/joinbredcommunity
Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1
Learn how to find your first tenant- https://bit.ly/firsttenantcourse
Text BRED to 74121 to join our VIP Text List to get a free training and the latest updates!
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
1 hr 4 min