Ep. 288 75 Rental Units in Their 30's w Jason & Carrie Harris

35 Replies

It takes a long, long time to become successful in real estate and financially free — doesn’t it? Well, not according to the power couple on today’s show! In this episode of the BiggerPockets Podcast, we sit down with Idaho’s Jason and Carrie Harris, who have built a sizable portfolio of more than seventy rental units over the past few years. These two have used a variety of creative financing strategies, and the lessons and stories they share are sure to inspire and educate you! Be sure to listen for the story of how they bought a four-plex for no money down, put $3,000 into it, and later made $186,000 in profit from that one deal. It’s unbelievable!

Listen here or on your favorite podcast app.

@Brandon Turner nice job! The beard is really turning out well. On a side note, I really like the video format of switching frames rather than the triple split screen setup. 

Excited to catch up on all the podcasts. A few months ago, I started with BP podcast #1. I'm listening to #126 right now. I'll be caught up within two months. Every day, podcast consumption! 

Thank you for providing such a valuable resource (not just BP as a whole, but the published podcasts). 

Great show, I always listen on my morning commute. I was wondering if while you guys were in the process of acquiring these units you had considered putting any money towards property reserves? Thanks for sharing your story!

Excellent podcast.  Having never done a deal, it's really starting to sink in what people mean when they say the first deal isn't about getting rich, but learning and building relationships.  It really came up in this episode for me when Jason described how one investor sold them a 4plex, and then another the following year.  

"What are the chances an investor is just sitting around dumping properties one by one?" I had previously thought.  "Why would they just happen to have other properties that they want to sell, but not now?"  To limit their tax liability of course! Duh!

So Jason stuck to his guns and made sure he got the cash flow he needed, but focused primarily on building the relationship through doing the deal.  Then next year, got his home run deal on the second property.

Great stuff.  

I loved this episode! I can't believe this couple lives in my back yard in Utah! I'd love to talk to them in person given the opportunity. It's sad that they dont have any upcoming free events posted on their website for the upcoming months :( 

This was awesome. Plenty of small multis in my town for affordable prices. I won't get rich off of appreciation, but if I get enough units, cash flow will be excellent. Man the last 3-4 podcasts have been fire.

This was a great podcast!  I'm a newbie here so I didn't really understand the part when Jason said that they raised the rent by $750 on their four-unit place after spending $3000 to fix up the outside.  Did he mean $750/unit? or was it $750 split up among all 4 units?  Thanks in advance!

This was a great podcast!! @Kyle Dunleavy I know an older investor who is selling properties as the leases run out too, so that’s another reason. I ask everyone if they have any other properties they are looking to sell!

This episode really opened up my eyes to the possibility of my first property. It helped me realize that I was potentially cutting myself too short and limiting my scope when that wasn't necessary at all! 

Great episode! 

Originally posted by @Joel Brown :

Yes was the rent raised to $750 or raised by $750 on the 4 plea they sold?

I was also curious about this and was it 750 between all 4 units because raising by 750 per unit sounds crazy haha.

Great podcast. Very impressive to hear what Jason and Carrie were able to accomplish in a relatively short period of time. The story of the $186,000 in 6 months they made on the 4plex with only $3000 of their own money was really impressive.  Like a 62X return! 

I believe they said their goal is 500 units , with $200 month per unit, really inspiring.

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