BiggerPockets Podcast 242: How to Live an Incredible Life Now & Achieve Early Retirement with Josh Randall

by | BiggerPockets.com

Money doesn’t buy happiness – but it can give you the freedom to live a truly extraordinary life, something our guest today can really speak to! We sit down with Josh Randall, an investor from Kentucky with nearly 100 units who also works as a full-time business owner. You’ll love Josh’s mindset when it comes to buying cars, travel, and more through real estate, as well as his “goal-focused” investing that will get him fully retired by the age of 48 (with $50k a month in cash flow!) Josh is incredibly fun and also highly informative, so don’t miss a second of this show which Brandon calls “one of his top episodes ever!”

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In This Episode We Cover:

  • How Josh got started in real estate through buying a Corvette
  • Details on his first deal – a mini mall
  • Selling bath tubs while property was still empty
  • How many properties Josh currently owns
  • Juggling business and real estate investing
  • Facebook Marketing to find deals
  • The Plumber story
  • His strategy
  • His monthly cashflow
  • The ‘why‘ behind his investing
  • Making assets pay for the liability
  • His strategy in finding deals
  • The types of houses he buys
  • Adding one more bedroom to a house
  • What is a knockdown?
  • Managing a business with 70 employees and real estate investing
  • The Limo Hummer
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics:

  • “Real estate is a piece of cake. I can do it with my eyes closed!” (Tweet This!)
  • “There’s always a way to add an additional bedroom.” (Tweet This!)
  • “Not everybody is the same person.” (Tweet This!)

Connect with Josh

Photos:

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!

19 Comments

  1. Paul S.

    My wife’s family is from Central City – interesting to his perspective on the area.

    As someone new to REI, it’s confusing to hear this guy seem to do pretty well with 30k ‘pigs’ that rent for 5-600/month and yet hear so many other BP guests turn their nose up at such properties.

    • phil morgan

      The difference is the area. That is an average price for a house in his area vs $30k houses would be the bottom of the barrel in other areas. In those other areas you would be dealing with bottom of the barrel tenants in those houses vs he is dealing with the average blue collar tenant in his houses. Hope this helps.

  2. Zoeimy Floyd

    Really got a lot out of this episode!

    Particularly liked the idea about routinely asking yourself “where am I bottle necking in my business?” That kind of objective, cyclical & routine self/business assessment can open yes, change, optimize, and otherwise keep you moving in the right direction.

    Josh D. Thanks for your transparency and your props to Apostle Paul!

    ~Zoeimy

  3. Jeff Parr

    I would love to get details about his buying model from a financing perspective – he mentioned buying with a line of credit. Is this line of credit through his real estate business, his printing business, or a personal line of credit? I’m close to maxed out on purchasing homes through my home equity line and refinancing them with conventional investment loans. I currently have 6 SFRs and after about two more I will be maxed out on my debt to income to qualify to refinance through a conventional loan, so I will have to move from conventional loans to something else.

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