Sometimes to find success, you have to think outside the box! That’s why today on the BiggerPockets Podcast we’re excited to bring you an interview with Johnny Youssef, a young investor who has found clever ways to turn properties that no one else wants into cash flowing monsters. You’ll be inspired and motivated after hearing Johnny’s story, as well as his philosophy of using “financial freedom” to help others. Don’t miss a second of this powerful show!
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In This Episode We Cover:
- Thoughts on this year’s epic battle: the Mets vs. the Royals
- Who Johnny is and how he started investing during college
- How he got his real estate license early to get the commissions
- How he managed 7 properties from a young age
- The importance of understanding and helping your market
- Thoughts on how to fund a property
- Insight into the question: To have a real estate license or not?
- How to start out in real estate with no money
- Why the first property he bought was a duplex
- How to use the same money to keep your business growing
- A look at Johnny’s current portfolio
- Big mistakes people make in hiring employees
- The level of finish you should aim for when flipping properties
- How to tenant-proof your properties
- What is he currently looking at right now
- The importance of thinking outside of box when investing
- Johnny’s thoughts on flips vs. rental properties
- How to manage vacancies
- Tips for new investors
- And SO much more!
Links from the Show
- BiggerPockets Youtube
- A Beginner’s Introduction to Real Estate Investing (Course)
- The Key to Business Success with Bestselling Author of The E-Myth Michael Gerber
Books Mentioned in this Show
- Rich Dad Poor Dad by Robert Kiyosaki
- The E-Myth Revisited by Michael Gerber
Tweetable Topics:
- “Look for something that has equity in it. Make money out of it and start investing in other things.” (Tweet This!)
- “When you’re buying, especially when you are still starting, you’re gonna be emotional about things.” (Tweet This!)
Connect with Johnny
- Johnny’s BiggerPockets Profile
- Johnny’s Personal Blog
- Johnny’s Instagram
- Periscope: @johnnyyou
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23 Comments
Podcast doesn’t seem to be loading at all, anyone else having this problem?
Jarred, did you try it again? It should be working now! Hope you enjoy it!
GREAT show! Thanks Johnny. I love the thinking outside the box, most folks tell you to only do ABC and don’t go outside the boundaries. Its great hearing how folks who step out do see the rewards and prove that ABC is not the only way to be successful. The mind is going now, appreciate the food for thought! THANKS
Great to hear Jack! I find that my most profitable properties are the ones that didn’t fit anyone else’s box. They are the diamonds in the rough and if you are willing to get creative, you can find a way to offer something others don’t!
Nice job, Johnny — great enthusiasm, and I’m diggin’ the “crazy” ideas.
Brandon — about 42:30… awesome thoughts about helping others as being the true power of wealth-building.
Thank you Kurt! It was a pleasure!
Great podcast. I liked you energy and thinking outside the box.
BTW Brandon/Josh, Royals are the World Series Champs:-) Go Royals!
GO ROYALS! Glad you enjoyed it!
I really enjoyed this podcast! I’d recommend it to anyone who thinks outside the box like me 🙂
Thank you Dave! Often, outside of the box thinkers are the ones that bypass the “norm” and the margins that other investors are happy with! It’s all about taking educated risks!
Great interview i learned a lot
I appreciate the encouragement Julius!
Great Podcast guys! Pleasure to listen to a guy making it happen. Way to go Johnny!
Thank you for the encouragement Darren!
Great podcast! Very creative way to approach various deals, which is the best way to set yourself apart from the competition.
Thanks Andrew! That’s exactly right. It’s about offering something that the competition can’t even handle!
I really enjoyed this interview. Now I’m thinking about converting all of my college town rentals to renting by the room. I could probably pick up another $50-$100 per room that way!
Denny, my recommendation is to give it a try one ONE town rental for a semester. If it works out well, then implement it on the rest. Don’t jump the guns because things can work in one place and not the other depending on the market, the type of contracts and house rules your implement, etc….
Really enjoyed the podcast and the thinking outside the box mentality. One thing I want to point out though, is that it’s going to cost a lot more to replace a ceiling fan with recessed can lights. in a typical bedroom or living room with a ceiling fan with a light kit (or a surface mounted light in the center of the room) it will take at least 4 recessed cans- probably more- to get a consistent level of light throughout the room. That is a lot of wiring, and we’re talking about either working in an attic or cutting holes in the ceiling to get the wiring through the ceiling joists, which means cutting, patching and painting.
Don’t mean to be a downer, because it was a great podcast and I’m not saying it isn’t a good idea to go with the cans, but it will cost a lot more than simply hanging a new ceiling fan.
This is one of the best practical podcasts I’ve listened to on here. It wasn’t just a testimonial but offered very practical information, such as the extras to put in the home, how to use properties in non-traditional ways, creating urgency, etc.. I really appreciated the more tactical advice and how to execute. Thank you!
@Johnny Youssef, enjoyed listening to this. So great to see a young person building his life and business on sound principals. It’s obvious that your faith has shaped the path of your feet! I trust that you find continued success, persevere!
Great Podcast Johnny. I like how you are using your success to help others. I am working on my long term plan to get passive income so I can take the family on long term mission trips out of the country.
Inspiring podcast/journey! God bless you!