{"id":137260,"date":"2021-04-23T11:30:00","date_gmt":"2021-04-23T17:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=137260"},"modified":"2023-03-29T03:40:32","modified_gmt":"2023-03-29T09:40:32","slug":"dr-joe-keys-success","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/dr-joe-keys-success","title":{"rendered":"Do Well by Doing Good: Dr. Joe Asamoah&#8217;s Tips for Success \u2014 In Any Economy"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC6881867003&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p><a href=\"https:\/\/joeasamoah.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Dr. Joseph Asamoah<\/a> arrived in the United States at age 24 with just $100 in his pocket. After receiving his Ph.D. and MBA, Joe reached financial independence just 18 years later through investing in real estate.<\/p>\n\n\n\n<p>But Dr. Joe isn\u2019t just saving as much money as possible for himself. He is living proof that real estate investors can create a positive impact on the communities where they invest. \u201cI strongly believe that we can make money <em>and <\/em>make a difference in other people\u2019s lives,\u201d he says. \u201cThis is why I love what I do. I don\u2019t think anyone has to choose between one or the other.\u201d<\/p>\n\n\n\n<p>Dr. Joe recently unveiled his latest property renovation at a ribbon-cutting ceremony. The occasion? He officially handed over the keys of a $750,000 property to a Section 8 tenant, a single mother of five, who survived abuse and homelessness. It\u2019s part of his \u201cTier 1\u201d model for Section 8 housing: Roll out the red carpet for the best voucher holders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Coming to America<\/h2>\n\n\n\n<p>\u201cI arrived in D.C. with two suitcases, $100, and only knowing one person in the United States at that time. It was a sink or swim situation,\u201d he says. \u201cAnd I opted to swim.\u201d<\/p>\n\n\n\n<p>Before coming to America, Joe was enrolled in a Ph.D. program designed to bridge the gap between engineering and business disciplines. As part of the program, he had to complete a research project within an established company, so he found a telecommunications company in the states and moved.<\/p>\n\n\n\n<p>After completing his Ph.D., he went on to work for several major U.S. companies including Verizon, HP, and IBM\u2014where the newly minted doctor had his first brush with real estate investing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">First property: The D.C. house<\/h2>\n\n\n\n<p>Joe\u2019s first house was a complete disaster. \u201cI did everything wrong and got burned big time,\u201d he says.<\/p>\n\n\n\n<p>After living in the states for just two years, Joe bought his first property in October 1987 at age 26. \u201cMy boss at that time was fired from his job due to a reorganization, and he encouraged me to consider investing in real estate because of the passive income potential.\u201d<\/p>\n\n\n\n<p>In order to learn everything about investing he could, Joe attended a local real estate investing association.<\/p>\n\n\n\n<p>\u201cI met someone that wanted to sell me a tenant-occupied house in Washington, D.C. He assured me the tenants were fantastic so I bought the house for $47,000 and forecast the cashflow at $50 per month.\u201d That comes to $111.44 in today\u2019s dollars.<\/p>\n\n\n\n<p>\u201cAfter closing, I found out the tenant hadn\u2019t paid rent for more than three months and had racked up a $5,000 water bill.\u201d In today\u2019s dollars, a horrifying $11,143.71. Dr. Joe eventually managed to turn the situation around and the property is now worth $750,000. The current cash flow is more than $4,000 per month.<\/p>\n\n\n\n<p>\u201cEverything was going wrong and I felt like calling it quits with real estate investing entirely,\u201d he says. \u201cIn hindsight, I am grateful I had such a bad experience so early on\u2014it taught me exactly what not to do in all my future deals.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Scaling up<\/h2>\n\n\n\n<p>Dr. Joe set about investing in additional rental properties, using another strategy that hadn\u2019t yet been named in the late \u201980s: the BRRRR strategy (buy, rehab, rent, refinance, and repeat). He purchased most of his properties at courthouse auctions and trustee sales in Maryland. Competition at these venues wasn\u2019t as cutthroat as it is today: A few usual-suspect buyers would attend, and it was hit or miss whether you\u2019d come away with a winning bid.<\/p>\n\n\n\n<p>He renovated these auctioned properties, which created enough initial equity to pull some of his cash back out to repeat the process.<\/p>\n\n\n\n<p>\u201cI have always focused on appreciation <em>and <\/em>cash flow,\u201d he says, which works well in the D.C. area. \u201cI\u2019ve never purchased a property that started with negative cash flow, but I\u2019ve purchased homes that broke even with a calculated risk that the area would appreciate in both values and rents over time.\u201d<\/p>\n\n\n\n<p>Luckily, for Dr. Joe, those bets paid off and the properties quickly started generating positive cash flow.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">First encounters with Section 8<\/h2>\n\n\n\n<p>Both Dr. Joe\u2019s nuts-and-bolts investing strategy and his personal mission entwine around a single core: Section 8 housing.<\/p>\n\n\n\n<p>Section 8 can come with a bad reputation, but Joe wants to set the record straight. In wealthy D.C., Section 8 sets far higher rent ceilings than it does in impoverished areas, like Baltimore. That, in turn, means Dr. Joe could place Section 8 tenants in solid working- and middle-class neighborhoods\u2014not just blighted neighborhoods.<\/p>\n\n\n\n<p>\u201cDuring the mid-1990\u2019s real estate downturn, I was having difficulty renting a property in D.C. and a prospective Section 8 tenant (with a net worth of zero dollars) scolded me because my house didn\u2019t have hardwood flooring, stainless steel appliances, and a Jacuzzi tub,\u201d he says. \u201cShe felt my house\u2014where I lived\u2014was not worthy of her and her family!\u201d<\/p>\n\n\n\n<p>After more showings, he realized that there was a group of Section 8 tenants that, unlike the stereotypical images, take tremendous pride in their neighborhoods. Immediately, Joe sensed an opportunity in this subset of voucher holders so he took a chance on a pair of Section 8 tenants, and it paid off.<\/p>\n\n\n\n<p>\u201cThere is typically huge demand and long wait lists for Section 8 vouchers and housing\u2014in good times and bad,\u201d he says. \u201cMany landlords overlook these tenants, to their own detriment, but it creates an enormous opportunity for me if you follow the strategy.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Building a Section 8 strategy<\/h2>\n\n\n\n<p>\u201cI started targeting these high-quality, low-entitlement voucher holders and developed a business model and formula,\u201d he says of his purchasing properties in desirable areas. \u201cI select, renovate, and stage my properties specifically to attract quality voucher holders.\u201d<\/p>\n\n\n\n<p>Believe it or not, in times of uncertainty, voucher holders are some of the most reliable and stable tenants, so you want to take care of them.<\/p>\n\n\n\n<p>Though his real trick lies in passing every annual Section 8 housing with certainty. \u201cAt eight pages long, my rental application is daunting. In it, I let the applicant know I will be pull credit, talk to their previous landlord(s), and go to their current home to see how they live,\u201d he says. \u201cIs it intrusive and extra thorough? Of course! But for the quality of my BRRRRs, I have no shortage of applicants.\u201d<\/p>\n\n\n\n<p>Dr. Joe also uses a $50 incentive for each tenant if they pass their annual inspection the first time around, with no work orders or reinspection required. This strategy embodies Dr. Joe\u2019s beliefs perfectly: He takes oft-adversarial relationships and finds a way to align the other parties\u2019 interests with his own.<\/p>\n\n\n\n<p>His long-term strategy also involves three sets of skills needed for any Section 8 investor:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Technical knowledge<\/h3>\n\n\n\n<p>\u201cYou need to know how to find good deals, to run the numbers, and to renovate properties profitably,\u201d he says.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1707\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-scaled.jpg\" alt=\"\" class=\"wp-image-137261\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-scaled.jpg 2560w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-1024x683.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-768x512.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-1536x1024.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/03520200130-2048x1365.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><figcaption class=\"wp-element-caption\">Photograph by Amanda Goldchain<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Customer service<\/h3>\n\n\n\n<p>Most of the job involves nurturing and managing tenant relationships. \u201cIf you treat your quality voucher holders well,\u201d he says, \u201cthey take good care of your property, pay their portion of the rent on time, and continue to renew for a long time.\u201d<\/p>\n\n\n\n<p>He focuses on minimizing tenant turnover, which is a landlord\u2019s greatest expense. In fact, Dr. Joe\u2019s longest tenant has been renting from him for more than 23 years on a 15-year mortgage! In short, screening is the key: While it may be easy to get someone into your house, it\u2019s a lot harder to get them out.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Building relationships with the housing authority staff<\/h3>\n\n\n\n<p>Dr. Joe developed a strategy of taking the time to get to know housing authority staff and management by attending their meetings and becoming a member of their landlord advisory group. \u201cWhat I\u2019ve realized,\u201d he says, \u201cIs that many housing authority staff are just as frustrated with their bureaucracy as I am.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Lessons learned<\/h2>\n\n\n\n<p>Every investor, no matter how accomplished, has made countless mistakes along the way\u2014Joe is no different. \u201cIf I had to do it again, I would have sold some houses in lower- appreciating areas sooner,\u201d he says, \u201cAnd kept more homes in desirable areas.\u201d<\/p>\n\n\n\n<p>Even still, it hasn\u2019t been all smooth sailing: Dr. Joe has had to evict tenants whose rent was $0, employed contractors that arrived on the job drunk, and worked with terrible lenders who had closings fall apart the day of settlement because of their mistakes. All experiences that taught him lessons for the future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Evolving investment strategies<\/h2>\n\n\n\n<p>At 42, Joe was achieved financial freedom and quit his full-time job at IBM. He wanted to spend more time with his family and less time traveling for his job.<\/p>\n\n\n\n<p>The truth that Dr. Joe has learned since then, is that the ten- ant is your real asset. Keeping that in mind, he\u2019s learned to nurture his relationships with tenants and truly takes care of them so that they would never dream of moving.<\/p>\n\n\n\n<p>\u201cMy tenants become part of my family, and they feel it. I send flowers to all my tenants on Mother\u2019s Day, gifts around Christmas, and I give a $50 gift certificate to kids who can show me a report card with straight As,\u201d he says. If you roll out the red carpet for your Section 8 tenants in this way, they will take care of you by paying the rent without fail, showing \u201cpride of rentership\u201d by taking care of the property, and they will stay a long time.<\/p>\n\n\n\n  <div id=\"posts_lists-block_606f380be0775\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            Be a great landlord          <\/h2>  \n                  \n                  <div class=\"mt-1 mb-0 text-sm mb-2 excerpt\">\n            Learn more about landlording from BiggerPockets          <\/div>\n        \n                  <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/landlording\" class=\"no-underline text-themeBlue-medium hover:underline uppercase font-semibold text-sm\" target=\"_blank\">Landlording &amp; Property Management<\/a>\n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-187186\" \n\tclass=\"content-card mb-0 flex flex-col  post-187186 post type-post status-publish format-standard has-post-thumbnail hentry category-landlording\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/landlord-responsibilities\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/07\/landlord-law_canva-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"4 Things Landlords Are Responsible For When Renting to Tenants\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/landlording\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Landlording &amp; Property Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">7 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/cropped-Tony02-1-scaled-1-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2026-03-13T13:16:03-06:00\">Mar 13, 2026<\/time><time class=\"updated\" datetime=\"2026-03-13T13:16:05-06:00\">Mar 13, 2026<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/tonyrobinson\" class=\"no-underline line-clamp-1\" target=\"_blank\">Tony Robinson<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/landlord-responsibilities\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\t4 Things Landlords Are Responsible For When Renting to Tenants\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">This article is presented by Steadily. Most real estate investors can tell you their ROI down to two decimal places. They can walk you through their expense ratio and their&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"187186\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-187186 -->\n<article \n\tid=\"post-187061\" \n\tclass=\"content-card mb-0 flex flex-col  post-187061 post type-post status-publish format-standard has-post-thumbnail hentry category-landlording\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-landlords-can-improve-their-existing-systems-with-industry-leading-tools\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/08\/portfolio-decisions-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Landlords: Here&#8217;s How You Can Improve Your Existing Systems With Industry-Leading Tools\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/landlording\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Landlording &amp; Property Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">3 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/273816.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2026-03-05T08:56:44-07:00\">Mar 05, 2026<\/time><time class=\"updated\" datetime=\"2026-03-05T09:04:56-07:00\">Mar 05, 2026<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/ashleykehr\" class=\"no-underline line-clamp-1\" target=\"_blank\">Ashley Kehr<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/how-landlords-can-improve-their-existing-systems-with-industry-leading-tools\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tLandlords: Here&#8217;s How You Can Improve Your Existing Systems With Industry-Leading Tools\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">This article is presented by RentRedi. Most DIY landlords are more organized than they give themselves credit for. You likely have a spreadsheet for rent tracking, leases saved in folders,&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"187061\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-187061 -->\n<article \n\tid=\"post-186965\" \n\tclass=\"content-card mb-0 flex flex-col  post-186965 post type-post status-publish format-standard has-post-thumbnail hentry category-landlording\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-landlord-reset-7-financial-moves-to-make-before-q2-sneaks-up-on-you\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/09\/landlord-insurance-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The Landlord Reset: 7 Financial Moves to Make Before Q2 Sneaks Up on You\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/landlording\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Landlording &amp; Property Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">6 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/07\/cropped-profile_small-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2026-02-25T12:45:36-07:00\">Feb 25, 2026<\/time><time class=\"updated\" datetime=\"2026-03-23T13:38:36-06:00\">Mar 23, 2026<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/annacottrell\" class=\"no-underline line-clamp-1\" target=\"_blank\">Anna K. Cottrell<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/the-landlord-reset-7-financial-moves-to-make-before-q2-sneaks-up-on-you\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe Landlord Reset: 7 Financial Moves to Make Before Q2 Sneaks Up on You\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">This article is presented by Avail. Did you know that if you&#8217;re a landlord, February is life&#8217;s gift to you in terms of getting your business finances in order? Understandably,&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"186965\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-186965 -->\n<article \n\tid=\"post-186772\" \n\tclass=\"content-card mb-0 flex flex-col  post-186772 post type-post status-publish format-standard has-post-thumbnail hentry category-landlording\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/7-places-where-self-managing-landlords-lose-money\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/09\/managing-tenant-turnover_canva-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The 7 Places Self-Managing Landlords Lose Money Without Realizing It\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/landlording\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Landlording &amp; Property Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">6 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/273816.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2026-02-06T12:49:29-07:00\">Feb 06, 2026<\/time><time class=\"updated\" datetime=\"2026-02-06T12:49:32-07:00\">Feb 06, 2026<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/ashleykehr\" class=\"no-underline line-clamp-1\" target=\"_blank\">Ashley Kehr<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/7-places-where-self-managing-landlords-lose-money\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe 7 Places Self-Managing Landlords Lose Money Without Realizing It\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">This article is presented by&nbsp;RentRedi. When I bought my first rental, I was determined to self-manage. Not because I loved property management, but because I wanted to learn. I wanted&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"186772\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-186772 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  \n\n\n<h2 class=\"wp-block-heading\">6 tangible steps to succeed in real estate<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Work on yourself first<\/strong>. Allocate time for education and training in order to understand your strengths, weaknesses, competitive advantages, and disadvantages.<\/li>\n\n\n\n<li><strong>Decide on a strategy<\/strong>. Based on your goals, finances, risk tolerance, and availability, choose a strategy.<\/li>\n\n\n\n<li><strong>Learn the basics of your chosen strategy<\/strong>. While it\u2019s not necessary to be an expert when you begin, you still need a foundation in the basics to avoid losing money.<\/li>\n\n\n\n<li><strong>Identify and work with a mentor or coach<\/strong>. As the saying goes, a wise man learns from his mistakes, and a genius learns from others\u2019 mistakes. Find a mentor that is knowledgeable in your area of focus, able and willing to provide guidance, and has a proven track record of success and real- world experience.<\/li>\n\n\n\n<li><strong>Proceed immediately to your first deal<\/strong>. Education alone will not make you wealthy\u2014it takes action. Do whatever it takes to get your first deal under your belt! Don\u2019t wait for the \u201cperfect deal\u201d or \u201cperfect time\u201d to start, because neither exists.<\/li>\n\n\n\n<li><strong>Respect the Golden Rule<\/strong>. Treat your tenants and vendors with respect, dignity, and fairness. His tenants are the reason Joe has been able to achieve financial independence and build real wealth. \u201cWithout them, none of this could have been possible,\u201d he says.<\/li>\n<\/ol>\n\n\n\n<p>Today, he finds all his deals from referrals brought to him through his Joint Venture (JV) program that Dr. Joe created to uniquely differentiate himself from other investors. Joe believes the best way to learn how to invest is to simply to do a real estate deal.<\/p>\n\n\n\n<p>Of course, new investors often find their first deal to be an expensive education where they inevitably make mistakes. So, the next fastest way to learn is by shadowing a successful investor to watch how they execute a transaction from start-to-finish and to witness the good, bad, and ugly of real estate\u2014this is where his JV program comes in.<\/p>\n\n\n\n<p>\u201cIn the end,\u201d he says, \u201cit\u2019s important to always remember that real estate investing requires hard work, patience, and a strong business system more than anything else.&#8221;<\/p>\n\n\n\n<p><strong>Interested in more articles like this? Subscribe to <\/strong><a href=\"https:\/\/store.biggerpockets.com\/products\/biggerpockets-wealth-magazine\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>BiggerPockets Wealth<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p><em>Republished with permission from the BiggerPockets Wealth magazine April\/May 2020 issue.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Joseph Asamoah arrived in the United States at age 24 with just $100 in his pocket. He&#8217;s now one of D.C.&#8217;s most successful investors. Learn his secrets here.<\/p>\n","protected":false},"author":158586,"featured_media":137262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,5524],"tags":[1606,7229,7230,3324],"class_list":["post-137260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-real-estate-investing-for-beginners","tag-landlording","tag-real-estate-investing-basics","tag-rookie-comm","tag-section-8"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/137260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/158586"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=137260"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/137260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/137262"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=137260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=137260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=137260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}