BiggerPockets Podcast 140: The Riches Are in the Niches (Like Student Housing) with Bill Syrios
Real estate investing is a BIG field, and there are hundreds of ways to build wealth. However, according to our guest today, the riches are in the niches! On today’s show we sit down with Bill Syrios, an investor from Oregon who specializes in the incredibly lucrative field of student housing (as well as numerous other niches!). You’ll learn how he transformed an early real estate setback into a business that owns hundreds of properties in multiple states!
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In This Episode We Cover:
- Times when the Syrios family has been on the BP Podcast!
- How Bill got started in investing
- What the interest rates were like in 1980
- What kept him going despite market crashes and failures
- How to treat your real estate investing as a business
- The importance of becoming an expert in a niche market
- How he got started investing in student housing
- The pros and cons of student housing
- Tips for handling student turnover
- What you should know about finding a property manager for these properties
- What Loan Care Services is
- How to deal with difficult rental situations
- Important legal restrictions for campus properties
- The details on a 48-unit fraternity house renovation
- Bill’s current portfolio and the states he invests in
- The concept of giving over ownership
- And SO much more!
Links from the Show
- BiggerPockets Meet
- BiggerPockets Forums
- BP Podcast 121: Creating the IDEAL Real Estate Investing Business with Andrew and Phillip Syrios
- Ultimate Beginner’s Guide to Real Estate Investing
- BRRRR Strategy
- BP Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay Papasan
Books Mentioned in this Show
- The Everything Landlording Book: An All-in-one Guide To Property Management by Judy Tremore
- Good to Great by Jim Collins
- Built to Last by Jim Collins
- 7 Habits of Highly Effective People by Stephen R. Covey
- The 8th Habit by Stephen R. Covey
- First Things First by Stephen R. Covey
- The Millionaire Real Estate Investor by Gary Keller
- The ONE Thing by Gary Keller and Jay Papasan
- The Black Swan by Nassim Nicholas Taleb
- Outliers: The Story of Success by Malcom Gladwell
- The Tipping Point by Malcolm Gladwell
- What Got You Here Won’t Get You There by Marshall Goldsmith
- Triggers: Creating Behavior That Lasts by Marshall Goldsmith
- Profit by Investing in Student Housing by Michael Zaransky
- Smart Essentials For College Rentals by Dan Gooder Richard
- “Even if you only own one property from day one, you treat it as a business.” (Tweet This!)
- “Every business, every niche has an obstacle.” (Tweet This!)
- “That’s where real estate investing starts—it starts with a great deal.” (Tweet This!)