BiggerPockets Real Estate Podcast

BiggerPockets Podcast 243: “How I Built 7-Figures of Wealth on a Working-Class Salary” with Joe “JD” Martin

Expertise:
406 Articles Written

Let’s be honest: not everyone is trying to buy hundreds or thousands of properties. In fact – just a small handful of incredible deals can help build impressive wealth AND great income. That’s the story you’ll hear today as we speak with Joe “JD” Martin, a real estate investor who’s building wealth while working his full-time job. As you’ll hear, JD had a rough start to his investing, losing over $100,000 on his first “deal,” but came back to create a stable, cash-flowing portfolio of single family houses that has given him financial freedom and over a million dollars in wealth. If that sounds like a plan you can get behind – don’t miss a moment of this powerful episode!

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

We just waRealtySharesnted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

Fire Round Sponsor

freshlogoA huge thanks as well to our sponsor FreshBooks.
FreshBooks customers spend less time on paperwork, freeing up 2 days per month to focus on the work they love. What would you do with that extra time?

Learn more by visiting FreshBooks.

In This Episode We Cover:

  • Losing six figures on the first deal
  • The number one problem of that failed deal
  • How Joe got back into investing again and the strategy he chose
  • The details on his first rehab
  • Landlords who hate being landlords
  • How the quality of tenants matter
  • The importance of knowing who you want to rent to
  • Having a day job while investing
  • A Simple investing strategy
  • How he finances his properties
  • What is Cashflow Recycling?
  • The freedom to do what you love to do
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics:

  • “A great place to live may not be a great place to sell to make some money.” (Tweet This!)
  • “There’s no one path that works for everyone.” (Tweet This!)
  • “You’re really just competing against yourself. There’s no competition.” (Tweet This!)

Connect with Joe

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...
Read more
    David Krulac from Mechanicsburg, Pennsylvania
    Replied about 3 years ago
    JD, Liked your BP Podcast a lot. Owning a dozen quality property free and clear is great. I’ve said before you don’t need 100 properties, which can be 100 headaches. And “free and clear” properties to me means that you don’t have that debt, which for me at one point was my biggest expense and I felt like after retiring from a full time job, I was working full time for the bank to pay those 50 mortgages. No more! David Krulac BP Podcast #82
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied about 3 years ago
    David, thanks! I’ve followed your posts for years and really appreciate the comments!
    Thomas F. from Lincoln, Nebraska
    Replied about 3 years ago
    David, I’m a “Nohbie” 🙂 , and really appreciate hearing that side of it. I see that generally leveraging is very much the popular route taught these days, that I just hadn’t heard perspective yet. It’s definitely something to consider as a goal if or when you’re looking for a more passive investing lifestyle at whatever age. ~Zoeimy Floyd
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied about 3 years ago
    Nohbie! Ha! I love it! We need BP “I’m a Nohbie” shirts 😀
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied about 3 years ago
    Now I’ve got 30 minutes of fame 😀 Serious thanks to Josh Dorkin, Brandon Turner, Mindy Jensen, Dave Visaya, and everyone over there for the invite and the podcast – I had a lot of fun doing it and when I consider the quality of guests that have been on here it is so humbling and flattering to add my name to that list.
    Joshua Dorkin BiggerPockets Founder from Denver, CO
    Replied about 3 years ago
    It was our pleasure! Thanks for the inspiration.
    Thomas F. from Lincoln, Nebraska
    Replied about 3 years ago
    Thank you Joe for the great “slow and steady” and quality landlording testimony. I’m partial to the hard work & persistence famous 4 answer. Forwarded the link to someone I know because of it… who could certainly use hearing your story and perspective. Continued blessings and success in your business and life. ~ Zoeimy Floyd
    Julie Marquez Investor from Seattle, WA
    Replied about 3 years ago
    This has got to be one of my favorite podcast! I already love your comments and interactions on the forum, and now it was great to “meet” via the podcast! I wouldn’t say you are an “average joe,” since having 12 rental properties is far exceeding average. I think it is approachable and realistic real estate. I also want easy, and don’t want to be a mega investor, just enough to get by and be happy. I love your story, and I think more stories like that should be told and be proud of.
    Julie Marquez Investor from Seattle, WA
    Replied about 3 years ago
    Oh yeah, and I love to hear of the real life losses, how long it took you 10 years to recoup, and how your stayed in the game. Real estate isn’t an overnight success, but you stuck it out, and thanks for all you give back!
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied about 3 years ago
    Hi Julie, thanks for the kind comments! I really appreciate it 🙂
    Terri Sarappo Investor from Sacramento, CA
    Replied about 3 years ago
    Loved your podcast what a nice sensible approach . Went looking recently in Nashville and that ship seems to have sailed. Nice insight into other markets in TN
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied about 3 years ago
    Hi Terri, thanks for the kind words! It’s getting tougher out here too ?
    Terri Sarappo Investor from Sacramento, CA
    Replied almost 3 years ago
    I know I was in Nashville in May I have family there and didn’t think it had good investment potential because of the new developments . Who knew that urban infill would pop . I had to pass on the market nothing that really would cash flow in East Nashville or other hot spots.
    Mike Dymski Investor from Greenville, SC
    Replied about 3 years ago
    JD, I enjoy your posts; so, I listened to the podcast and it was excellent. Many investors over-complicate real estate investing and your strategy is a great road map for all of us. You have achieved far more life “success” than many of the guests with boatloads of units. I am currently reading the book that you mentioned, Your Money or Your Life, and you are living the principles…well done!
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied about 3 years ago
    Mike, thanks for the kind comments!
    Kimberly Norris Property Manager from Johnson City, Tennessee
    Replied about 3 years ago
    Thank you so much for sharing your life experience in the real estate world. My husband and I are fairly new to real estate investing and trying to push through. We enjoyed your podcast! Great inspiration to not give up and stay the course. Best of luck to you pursuing your business!
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied almost 3 years ago
    Hi Kimberly, thanks for the kind words! Best advice I could give is just keep grinding!
    Felisha McCurry Flipper/Rehabber from Johnson City, Tennessee
    Replied almost 3 years ago
    Great show! I also invest in the JC, TN area! It’s a fabulous location. Although I have been in RE for a long time, I am new to Bigger Pockets and learning so much! Thanks for sharing your story! Have you been to the local REI meetings? Felisha
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied almost 3 years ago
    Hi Felisha! Thanks – I have not! It is one of my “intentions” but between full-time employment & running the RE business time has been scarce!
    Nathan G. Real Estate Broker from Cody, WY
    Replied almost 3 years ago
    Great job, JD! My favorite podcasts are the ones with regular folks in smaller communities with realistic goals. You’re a great example for those interested in responsible investing rather than over-leveraging to build a huge portfolio.
    JD Martin Rock Star Extraordinaire from Northeast, TN
    Replied almost 3 years ago
    Hi Nathan, thanks! Appreciate the kind words 🙂