BiggerPockets Podcast 146: Buying 100+ Units Through Word of Mouth Marketing with Enrique Jevons

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Finding deals can be tough in today’s real estate market, but one technique that works in every market is word of mouth marketing! In today’s show, Enrique Jevons shares his story of quitting a 21-year career to become his own boss and build a real estate empire. You’ll learn about finding deals, managing properties, getting your real estate license, and so much more!

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In This Episode We Cover:

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  • How Enrique got into real estate coming from the hotel industry
  • How signing checks for the owner opened his mind
  • The importance of buying properties at the right time and right price point
  • How be obtained a 13-unit apartment complex as his first property
  • What you should know about choosing between multi- and single-families
  • How he found his first property despite being a newbie
  • How to use a HELOC for investing
  • His current portfolio of over 100 units
  • Enrique’s experience managing 500+ units with his property management company
  • How he became the “guy that closes deals
  • How to get leads through word of mouth marketing
  • Where Enrique finds deals
  • Tips on networking and meeting new investors
  • How he finances his deals
  • What you should know about presenting yourself to banks
  • How he manages his business one problem at a time
  • Thoughts on getting a real estate license
  • Whether you should consider starting a property management business
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “Get as many units as you possibly can under one roof.” (Tweet This!)

Connect with Enrique

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners — without the non-stop pitch prevalent around the industry.

With over 1500,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!


  1. Enrique Jevons

    Thanks so much for listening. I had a question this morning on my mention of my Home Equity Line of Credit, so I thought I’d post that answer here.

    You can take out a HELOC on both your personal residence and your rental properties. The interest rate on your personal residence will always be lower, about 1 point in my experience than on 1-4 unit rental properties, and 2 points less than a HELOC on a 5+ property.

    Most people have a traditional mortgage already on their primary residence, and will then obtain a HELOC on the remaining equity of that residence. For example, if you have a mortgage for 80% of your homes value, you can then get a HELOC on the remaining 20% in equity. In my case, I do not have a traditional mortgage, I only have a HELOC. So, it’s called a HELOC in the first position by the bankers. It is a 2.5% interest only loan for up to 80% of the value of my home. This means the principal is never being payed back. I am only paying the monthly interest on however much I of the HELOC I am using on any given month.

    For me it’s a way of paying a very low interest rate on only the money I need at any given time. Check with a loan officer at the smallest bank in your town to see if they offer HELOC’s. I highly recommend them due to their low rates. Have fun investing!

    • Carolyn Lorence

      Enrique – I really enjoyed your podcast and learned some great new finance tools – thank you! Congrats on your success!

      Can you please clarify how the HELOC is used in first position on your primary residence. The way I understand it is that your primary mortgage is paid off so you own your home free and clear, and you’re using up to 80% of the equity in form of a HELOC for financing other properties. Is this correct?

      • Enrique Jevons

        Thank you Carolyn.

        You’re correct. I do not have a traditional mortgage on my primary residence. I only have the HELOC on it. My HELOC is good for up to 80% of the value of my home, which is up to $412,000 at 2.5%. So, I can buy properties up to $412,000 by writing a check from my line of credit. I can then rehab, raise rents, and seek out a permanent loan for property and use that money to pay off my HELOC. The BRRRR method Brandon talks about.

    • Nghi Le

      Wow, I’ve never heard of an interest-only HELOC. I have a HELOC at 1.99% (promotional rate at my credit union), but they make me pay a minimum of 0.75% of the balance every month, which equates to 22% interest and 78% principal I believe. Every other HELOC I’ve seen so far are like that too. I guess I need to find more banks and do more research.

      Would love to talk to you more about the banks you’re using the next time we see each other 🙂

    • Enrique Jevons

      Thank you Jeff.

      I have Jevons Properties LLC and two dba’s. One dba is Jevons Property Management and the other is Yakima Valley Real Estate. I have 5 real estate agents working for me under Yakima Valley Real Estate, and 5 full time administrative staff working under Jevons Property Management along with 2 virtual assistants. I kept just one LLC for everything in order to keep some of my overhead down, such as insurance.

    • Enrique Jevons

      I started out holding all my rentals under my LLC. But, I then ran into the difficulty of superior court in WA State requiring either an owner on title representing themselves in court or having an attorney represent the LLC. I tried to represent my LLC in court, but they said I could not, even though it is a single member LLC.

      So, I spoke to my attorney about it, and he recommended changing the titles over to my personal name and just making sure I am well covered by my insurance, both business and personal. He also told me it is becoming much easier for challenging attorney’s to “pierce” an LLC and sue the managing members of the LLC personally.

  2. Jeff S.

    Great thoughts on LLCs. Most large companies are just that, a large company, one corporation.

    Are your companies multi-member? That is supposed to help.

    Live in Portland and have about 50k in a Roth. Do you you think it would make sense to buy in your area and have you manage it?

    • Enrique Jevons

      Yes, I’ve heard having multiple members in an LLC helps prevent piercing of it, but it’s just me in my case. Besides being very cautious to make sure I am not sued, I have a 2 million dollar insurance policy on both my business and myself personally. I also have umbrella policies on both myself and my business. So, hopefully my maximum exposure is my $5,000 deductible.

      I definitely think looking into a self-directed IRA is worthwhile. But, there are a lot of IRS rules involved, and I’m not an expert on that. I do know all IRAs must be held by a custodial entity such as a bank, credit union, trust company or an entity that is licensed and regulated by the IRS as a “non-bank custodian.” If it’s possible to have me as the management company for such custodian, then I’d be happy to do that.

  3. very informative podcast Enrique, thank you. My girlfriend rents from a property you manage (the new town homes off 72nd) so when I saw the podcast advertised on this site it piqued my interest.

  4. carl tasios

    Great Podcast, gleaned lots of good tips, Enrique.

    What were you going to say about the /live in/ PMs?

    I think that was the more important answer to the question, “Do you hire a property manager if you’re house hacking?,” before Josh and Brandon interrupted you. 😉

    Thanks, Carl

    • Enrique Jevons

      Thanks for asking Carl.

      I was going to say that I have had a lot of experience with live in on-site managers. They always start out good, but over time they become irritated when tenants frequently coming to them with questions, and they get slower and slower in keeping the place clean and well maintained. Other tenants in the apartment complex then either love or hate the on-site manager, and start coming to me to complain about the manager.

      Instead, in my larger apartment complexes and some of my lower income neighborhood apartment complexes, I use a uniformed security guard company to do nightly patrols. Currently, I am using one that only charges me $200 a month per apartment complex for 3 visits every evening. They are great at handling noise complaints, making sure no one is tagging the place with graffiti, drinking in public, making sure the laundry rooms are locked, etc. Cheaper than an on-site manager, and the tenants feel much safer with a uniformed guard patrolling.

  5. Zachary Paul

    Great podcast as always guys! Always nice to hear the background and growth of someone’s business you aspire to emulate.

    Brandon – I took your Facebook Challenge and posted on my page my intent to acquire more properties. I already have gotten two texts from friends who know people looking to sell…not necessarily good deals, but worth getting my name and intent out there to my network.

  6. Andy A.

    Enrique – Great podcast and congrats on your success!

    One question I had for you is when you reach out to Agents to seek “pocket listings” for purchases, do you represent yourselves (since you are an Active Broker) or do you have the Agent represent both sides?

    • Enrique Jevons

      Thanks Andy.

      If I represent myself or another person, then I expect a commission whether it is a pocket listing or not. Same as if I have a pocket listing myself. I’ll negotiate a commission with the seller to represent the seller. If I bring in the an unrepresented buyer, then I’ll pick up both sides of the commission to represent both parties. Usually if it’s a pocket listing the commission will be less than an MLS listed property, as there was no advertising or other money spent on it.

  7. Nghi Le

    Brandon, I did the Facebook Challenge, but in reverse. I’m trying to find off-market buyers for the properties I’m getting ready to list (to avoid the extra hassle/fees of putting it on the MLS). Does that count? 🙂

  8. Calah Lopez

    I really enjoyed the podcast! I feel really inspired. De verdad distrute el podcast! Me inspiro mucho.
    Brandon, I did the facebook challenge too! I would love to win your new book!
    All the best, guys- todo lo mejor,


  9. Keith Thompson

    Enrique – Congratulations on having the fortitude to quit your job after 21yrs and strike out on your own AND for the success you have realized. Your story is inspiring and I’ll add this Podcast to the short list that I recommend to folks to when they ask me what I do and if they could be successful too. Well Done!

    Will you comment on the Management Software that you use, why that particular product and perhaps the features that others did/do not have that led you to choose this one? For all my activities, I have intentionally avoided Landlording but am now headed in that direction. I’ll get the BP Book on Rental Property Investing you mentioned – any others that are stand outs?

    • Enrique Jevons

      Hello Keith,

      I’m currently using AppFolio and love it. Previously I was using Quickbooks and Google Docs. Besides the BP book, make sure to join your local landlord association in order to obtain all their forms. Try to stay away from using generic forms from the internet or office supply stores. Besides each State having their own landlord/tenant laws, each city often enacts their own ordinances, so it is important to have forms that are specific to the city in which your properties are located.

      Good luck.

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