BiggerPockets Podcast 167: 0 to 25 Units in Your First Year (Part-Time!) with Kevin Wood
People have a lot of excuses about why they aren’t’ investing in real estate. “I work too much.” “I live in an expensive area.” “I don’t know enough.” 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!
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In This Episode We Cover:
- 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
- BiggerPockets is hiring!
- BiggerPockets’ Twitter
- Mail BiggerPockets Support
- Real Estate Deal Analysis and Advice Forum Category
- BiggerPockets Calculators
- BiggerPockets Forums
- BiggerPockets Radio Podcast 003: Getting Started in Real Estate and Raising Money with Brian Burke
- BP Podcast 076: Growing Your Real Estate Company Into a $30 Million Dollar Business with Brian Burke
- BP Podcast 152: Building Wealth and Passive Income with Rental Properties with Ben Leybovich, Brian Burke, and Serge Shukhat
- BiggerPockets Webinar
- Keyword Alerts
- Rob Regan’s Website
- BP Podcast 077: Negotiating Your Way to 1000 Wholetail Real Estate Deals with Michael Quarles
- Sharon Tzib’s Profile
Before and After Images
Books Mentioned in this Show
- Rich Dad Poor Dad by Robert Kiyosaki
- Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down
- Investing in Apartment Buildings by Matthew Martinez
- The Millionaire Real Estate Investor by Gary Keller
- The 4-Hour Workweek by Timothy Ferriss
- The One Thing by Gary Keller and Jay Papasan
- “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!)