BiggerPockets Real Estate Podcast

BiggerPockets Podcast 118: Condos, Multifamily, and Dealing with Management with Himanshu Jain

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When getting started, should you go BIG or go small? On this episode of the BiggerPockets Podcast, learn how Himanshu Jain got started investing in real estate by buying BOTH a condo and a 20-unit apartment complex. Discover the lessons Himanshu learned in the process, as well as the pros and cons of each. Additionally, the discussion on property management is going to blow you away — especially when you learn why Himanshu uses not one but THREE different property managers to look after his portfolio.

Whether you want to diversify your real estate portfolio or you’re just interested in different forms of investing, check out this fascinating, innovative episode!

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This Show Sponsored By

podioWe just wanted to give a shout out to our podcast sponsor on today’s show: Podio.

Podio is an online and mobile CRM tool from Citrix, that's the perfect fit for the always-on-the-go workstyle of a real estate agent.

Voucher code: biggerpockets

Fire Round Sponsor

A huge thanks as well to our Fire Round sponsor HomeSearch.
HomeSearch-LogoHomeSearch.com is an online marketplace committed to helping home buyers, sellers and investors achieve their real estate goals through utilizing an advanced auction platform.

Learn more by visiting HomeSearch

In This Episode We Cover:

BiggerPockets-Podcast-Cover 300 300

  • How Himanshu got started with real estate investing
  • The pros and cons of getting a vacation rental as a first property
  • How he branched out into condo units
  • What exactly corporate housing is
  • Opinions on Homeowners Associations
  • How he made the big jump to multifamily
  • How to use another business to finance your next deal
  • Why exit strategy matters to Himanshu
  • The ins and outs of having multiple property managers
  • Tips on marketing multifamily units
  • How Himanshu finds properties
  • How he dealt with “unusual activity” in his multifamily unit
  • Why he became a real estate agent
  • And SO much more!

Links from the Show:

Books Mentioned in this Show

Tweetable Topics:

  • “Buy with the end in mind.” (Tweet This!)
  • “Nobody will ever take as good a care when it comes to properties as yourself.” (Tweet This!)

Connect with Himanshu

Real strategies that work for real people seeking to build wealth through real estate investments. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investo...
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    Deshan Kennedy Real Estate Agent from Fredericksburg, VA
    Replied almost 5 years ago
    Himanshu, thank you for sharing your experience with us. I wanted to know as your real estate portfolio continues to grow, at what point do you start looking at creating your own property management/marketing company to handle the needs your properties along with other properties in the area? This way you grow your team and staff without really having to worry about the property manager/marketer growing their own properties to manage and having your properties suffer because of it? Also, I think the competition between the property managers/marketers is a great idea. Competition to be the best of the best and nothing less is the greatest!
    Himanshu Jain Real Estate Agent from Ballwin, Missouri
    Replied almost 5 years ago
    Thanks Deshan For now I want to keep it all outsourced and work that way. But might get into having my own team at some point in future when I am doing this full time.
    Nick Munsee Property Manager from Sacramento, California
    Replied almost 5 years ago
    Just listened to the podcast, Himanshu. Great stuff. I can definitely sympathize with your hassles with HOA’s. We’ve had a number of clients that bought condos as rental properties, only to find out they couldn’t rent them out because of HOA regulations. I’m glad you addressed the matter with the listeners. By the way, congrats on your success!
    Himanshu Jain Real Estate Agent from Ballwin, Missouri
    Replied almost 5 years ago
    Thanks Nick
    Colin Murphy Investor from Tampa, Florida
    Replied almost 5 years ago
    Really enjoyed listening to this podcast, Himanshu seems like a very shrewd and smart guy. However the craziest thing was what Brandon mentioned at the top of the show about Fannie Mae throwing their toys out of the pram because he put a property under contract as a cash deal with a private lender funding it. Exact same thing happened to me today!!
    Himanshu Jain Real Estate Agent from Ballwin, Missouri
    Replied almost 5 years ago
    Thanks Colin
    Gautam S. Real Estate Investor from Eola, IL
    Replied almost 5 years ago
    Great podcast and good strategy you shared here, Himanshu. Awesome success story! …need to connect to pick your brains!
    Jason Dismukes from Goshen, Connecticut
    Replied almost 5 years ago
    Himanshu, I listened to your podcast this afternoon. I enjoyed it a lot. One thing jumped out at me. You have your system in place and your managment companies operate in your system as opposed to there’s. I would love to learn about this more. I am just getting a self directed Solo401k set up for real estate investing. I am trying to amagine how I can have RE in different parts of the country with different managment companies yet have something in place to track the whole portfolio. Thanks for sharing your experience with us.
    Laura DelGuidice Investor from Bayonne, New Jersey
    Replied almost 5 years ago
    Sweet podcast. I love how relaxed, sophisticated, and eloquent you speak. There are some hyper interviewees who I cannot keep up with. I retained and processed all the insight I gained from your podcast before i fell asleep. I wish you the best of luck with your future business endeavors.
    Taheem Bellz from Atlanta, Georgia
    Replied almost 5 years ago
    Thank you, thank you, thank you. I’m going to utilize that strategy ,it’s brilliant having few property management companies using your system not theirs ,and compete for your business WOW . Great success to you Himanshu.