Is your ultimate goal to increase the spreads of your investments to the point where you can comfortably quit your job? Tune in for a conversation with Justin Silverio, an investor who successfully made the switch to full-time real estate entrepreneur and who is now focusing on the niche of higher-end rehabs. For tips on deal evaluation, how to find contractors for your particular project, and direct mail strategies, don’t miss this inspiring episode of the BiggerPockets Podcast!
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This Show Sponsored By
We just wanted 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!
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Equity Trust is a financial services company that enables individual investors to diversify investment portfolios through alternative asset classes, including real estate, tax liens, private equity and precious metals.
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In This Episode We Cover:
- Recap on last time Justin was a guest
- Why he was afraid to close that first deal
- Why he shifted to higher-end rehabs
- Market dips — and how he proactively takes advantage of them
- What key metrics he looks at when evaluating a deal
- The profit spreads Justin looks for
- Tips for finding contractors from lower end to higher end
- How many deals he does now
- How much he makes on each wholesale deal
- Tips for creating criteria for prospective properties
- How Justin does driving for dollars
- His hoarder house story
- What you should know about zoning restrictions that affect rebuiling a house
- How to track a direct mail list
- His experience quitting his job
- His most exciting deals
- And SO much more!
Links from the Show
- BP Podcast 186: How to Get Your First Few Properties — Even in a Competitive Market with Dave Meyer
- BiggerPockets Webinar
- BP Podcast 058: Flipping and Wholesaling Homes While Working Full Time with Justin Silverio
- BiggerPockets Facebook Profile
- BiggerPockets Forums
- Dave’s Twitter Account
- Brandon’s Twitter Account
Books Mentioned in this Show
- The Millionaire Real Estate Investor by Gary Keller
- Rich Dad Poor Dad by Robert Kiyosaki
- The New One Minute Manager by Ken Blanchard
- “When you go to a higher price point, the ability to create a larger profit is just much greater.” (Tweet This!)
- “If there’s a deal, you will find the money.” (Tweet This!)
- “It’s really difficult when you start, but after you get through the first couple deals, it gets easier.” (Tweet This!)