BiggerPockets Real Estate Podcast

BiggerPockets Podcast 139: Getting Started as a Businessman, Not a Handyman with Fat Tony

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Many people struggle to get started, especially when they live in an expensive market. That’s why today on the BiggerPockets Podcast we’re excited to bring you this interview with a newer investor who’s figuring out how to make a passive investment business despite living in one of the most expensive cities in America. You’ll learn how Fat Tony (yes, that’s really what he goes by!) invests in out-of-state deals and how mindset has played a major role in his early success.

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This Show Sponsored By:

b2rfinance-logoWe just wanted to give a shout out to our podcast sponsor on today’s show: B2R Finance
A new commercial lender offering loans specifically for rental investors. B2R Finance could help you unlock equity from existing properties so you can get cash out now.

Learn more by visiting: B2RFinance.com

In This Episode We Cover:

BiggerPockets-Podcast-Cover 300 300

  • Who is Fat Tony, and what’s with the name?
  • How he got started in real estate investing
  • Why it all starts with changing your mindset
  • The value of continuing education
  • His first deal: a short sale
  • Whether it’s worth it to look into condos
  • How to start doing the things you need to do
  • The importance of tracking your net worth
  • Why you should view real estate as a long term play
  • What it takes to successfully invest out of state
  • The importance of working with people who you can trust
  • Why all investors should have cash reserves
  • Why Tony believes in buying site unseen
  • The worth of his properties today
  • Tips for finding people who share the same mindset
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “I’m a businessman, not a handyman. And I’m okay with that.” (Tweet This!)
  • “There’s gotta be a way. Other people are doing it. I just need to figure out the way.” (Tweet This!)

Connect with Fat Tony

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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    Alyxaundria Sanford Real Estate Professional from Brooklyn, New York
    Replied over 4 years ago
    I LOVE this podcast. As I’m getting started, I see I definitely have to start with my mindset before I can really grasp investing. Thanks so much!
    Kyle Carpenter
    Replied over 4 years ago
    Loved this episode. It was actually super helpful as someone who is getting started investing while living in San Diego! Thanks so much!
    Michael S. Helton Real Estate Redeveloper from Reno, NV
    Replied over 4 years ago
    Good episode. I loved the fact that Fat Tony is so completely chill and hands-off. Not my style, but a great contrast to many of the guests on the podcast. I also received a number of ideas from the podcast and kept pausing it to make reminders for myself in the morning. Good stuff.
    Michael S. Helton Real Estate Redeveloper from Reno, NV
    Replied over 4 years ago
    Good episode. I loved the fact that Fat Tony is so completely chill and hands-off. Not my style, but a great contrast to many of the guests on the podcast. I also received a number of ideas from the podcast and kept pausing it to make reminders for myself in the morning. Good stuff.
    Mario Mormile Investor/ Real Estate Agent from Burton, Ohio
    Replied over 4 years ago
    Great episode! I have allowed myself to fall into the handyman position. I am pulling myself out of it and transitioning back to the role of business man. Thanks for sharing, Tony!
    Hunter L. Accountant from McLean, VA
    Replied over 4 years ago
    Hey Tony, I’m looking to get into REI, and my situation seems to be similar to yours. I am a tax accountant, not a handyman. How hard has it been to find deals where the numbers still work, even if you don’t perform the necessary repairs, updates, etc. by yourself?
    Nick Thompson Investor from BAY CITY, MI - Michigan
    Replied over 4 years ago
    Fat Tony, I was wondering if you could tell me who your property manager in Saginaw is? I am a new investor that lives in Bay City, which is 10 miles north of Saginaw. There are unlimited opportunities in Saginaw, but it consistently ranks top 10 most dangerous cities in the country. I have heard many horror stories, but usually from people who poorly manage their properties. I would potentially consider investing there with a great reliable property manager. I would also suggest that you consider investing in Bay City if you are looking for more rentals in the area. The resale value inside the city is not much better than Saginaw, but the crime and murder rates are much better. I don’t know a ton yet, but I may be able to help you a little bit if you consider investing more in the area. We have a tax auction next week in Bay City, and there are a handful of multifamily houses that should go for around 10k.
    So Heng Care Review Processor from Long Beach, California
    Replied over 4 years ago
    Fat Tony, This is the most relatable episode I’ve listen to so far. Thank you for your story and advices.
    Erik Noraas from Maple Grove, Minnesota
    Replied 6 months ago
    Hey, I just was listening to the podcast and tried Fat Tony's links to Break Parallel and the Expansion Podcast. They are not what they seem and probably should be removed.