BiggerPockets Real Estate Podcast

BiggerPockets Podcast 199: 25 Doors by Age 25 with Houssein Al-Eidan

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Real estate investing is no longer just for older generations! Today on the BiggerPockets Podcast, we sit down with Houssein Al-Eidan, an accountant from the St Louis area who has purchased 25 rental units — and he’s just turning 25 years old this month! You’ll hear Houssein’s unique strategy of buying lower-price properties (many from auctions) and using a variety of strategies to increase his returns (including AirBnB and even leaving some properties vacant!). This show is bound to leave you inspired to expand your own real estate portfolio — no matter what age you are.

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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 Fire Round sponsor FreshBooks.
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In This Episode We Cover:

  • How Houssein found BiggerPockets
  • How he relocated from Kuwait to St. Louis (and why)
  • How he discovered real estate through TV shows
  • What his first deal was like
  • How he dealt with a complicated foreclosed property with an existing tenant
  • The total number of deals he’ve done so far in the past year
  • How his numbers look for his condo units
  • What his game plan is after buying so much property
  • How he funds these properties through seller financing
  • The importance of understanding the seller’s motivation
  • Tips on Airbnb properties
  • How be built a team for delegation
  • A word of caution in this type of investing
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “The first purchase may not be always be the best.” (Tweet This!)
  • “Once you understand the seller’s motivation, from there you can customize a plan.” (Tweet This!)

Connect with Houssein

Show Preview

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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    Erika Carter Residential Real Estate Broker from Chicago, IL
    Replied over 3 years ago
    Great podcast! Thank you!
    Account Closed Investor from Lubbock, Texas
    Replied over 3 years ago
    Wow….I’ll say it this way. Brandon and Josh, you two did a great job trying to get this guy to answer questions. I felt like I was in a courtroom listening to a guilty party dodge questions in fear of self incriminating themselves. I sensed a bit of frustration from Josh, and for due reason…. Good job Brandon and Josh!
    Bill Schollmeyer Investor from Sparta, New Jersey
    Replied over 3 years ago
    Spot on Ryan. Appreciate the time and effort from John, Brandon, and Houssein, but I had a hard time believing anything Houssein said. Using real estate buzz words isn’t the same as answering questions.
    Eric Egeland Specialist from Long Grove, IL
    Replied over 3 years ago
    Agreed
    Harel Nadav Investor from Cliffside Park, NJ
    Replied over 3 years ago
    Ryan/Bill spot on. Really appreciate the time and effort though. Felt more like self promotion rather than here is my success story and this is how i did it.
    Account Closed from Los Angeles, CA
    Replied over 3 years ago
    Definitely agree with you guys. Normally love the show but didn’t feel like there was much meat to this one. Looking forward to #200!
    James Myers from Chattanooga, Tennessee
    Replied over 3 years ago
    Agreed. Didn’t find much to take away from this one. Owning 25+ units that do no preform seems like a terrible strategy.
    Peter Crisp Engineer from Surrey, BC
    Replied over 3 years ago
    I was most concerned about buying a Laundromat. If it included dry cleaning at one time, there’s a significant risk of contamination at the site and at neighbouring properties. This can make you bankrupt fast because dry cleaning solvent can migrate a lot. I sure hope that the speaker did his homework. Frankly I’d want a Phase 2 study from a firm I trusted before I’d touch any Laundromat/dry cleaning operation or any property anywhere close. The strategy could work if prices are rising sharply and it’s time to buy, but I would have thought that this would have happened a long time ago in this market.
    Hamid Hotaki from Cary, North Carolina
    Replied over 3 years ago
    Great job Hussain! For a 25 year old you did a lot better than many so called expert. Thank you again for sharing…
    Jesse Kropf from Lebanon, Pennsylvania
    Replied over 3 years ago
    I decided to listen to this podcast, in spite of the negative comments here. I was expecting the gentleman to be shifty and acting like he’s hiding something, but I came away with a much better impression after the show. Here are my impressions: 1. He has a Master’s Degree and is also a CPA. He’s used to talking in concepts rather than specifics. He expects the listener to apply the concepts to their own situation. 2. He is highly intelligent and thinks many thoughts at once, therefore he tends to speak more slowly. 3. He knows so much about finances, he might forget to fill in the blanks for the typical audience. It’s easy for a person like him to forget how much more he knows than the average person does. The average real estate investor does not have a Master’s degree and is also not a CPA. 4. He reminds me of a person who was taught at a young age to tell the truth, so he pauses to make sure he is accurately answering the questions rather than embellishing the truth. Those are my impressions. I’m in retail sales, so I’m used to reading body language and forming impressions of where people are coming from. I actually found this episode to be very helpful. I got some useful ideas about seller financing and Airbnb from this show, and I also think his strategy could be helpful for others who have a great income to work with.
    Drew Walker from Saint Louis, MO
    Replied about 3 years ago
    Thank you both for having an investor on from St. Louis. I feel like we having a very exciting market to work in here and it was nice to hear from someone in the area. I certainly learned a lot from the interview, thanks guys!
    James Zito from Staten Island, New York
    Replied almost 2 years ago
    Ha ha to the random dude behind Josh!