Is your ultimate goal to increase the spreads of your investments to the point where you can comfortably quit your job? Tune in for a conversation with Justin Silverio, an investor who successfully made the switch to full-time real estate entrepreneur and who is now focusing on the niche of higher-end rehabs. For tips on deal evaluation, how to find contractors for your particular project, and direct mail strategies, don’t miss this inspiring episode of the BiggerPockets Podcast!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
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Equity Trust is a financial services company that enables individual investors to diversify investment portfolios through alternative asset classes, including real estate, tax liens, private equity and precious metals.
Get your free 10 Ways to Partner on a Deal with Your IRA Checklist: trustetc.com/bp3
In This Episode We Cover:
- Recap on last time Justin was a guest
- Why he was afraid to close that first deal
- Why he shifted to higher-end rehabs
- Market dips — and how he proactively takes advantage of them
- What key metrics he looks at when evaluating a deal
- The profit spreads Justin looks for
- Tips for finding contractors from lower end to higher end
- How many deals he does now
- How much he makes on each wholesale deal
- Tips for creating criteria for prospective properties
- How Justin does driving for dollars
- His hoarder house story
- What you should know about zoning restrictions that affect rebuiling a house
- How to track a direct mail list
- His experience quitting his job
- His most exciting deals
- And SO much more!
Links from the Show
- BP Podcast 186: How to Get Your First Few Properties — Even in a Competitive Market with Dave Meyer
- BiggerPockets Webinar
- BP Podcast 058: Flipping and Wholesaling Homes While Working Full Time with Justin Silverio
- BiggerPockets Facebook Profile
- BiggerPockets Forums
- Dave’s Twitter Account
- Brandon’s Twitter Account
Books Mentioned in this Show
- The Millionaire Real Estate Investor by Gary Keller
- Rich Dad Poor Dad by Robert Kiyosaki
- The New One Minute Manager by Ken Blanchard
- “When you go to a higher price point, the ability to create a larger profit is just much greater.” (Tweet This!)
- “If there’s a deal, you will find the money.” (Tweet This!)
- “It’s really difficult when you start, but after you get through the first couple deals, it gets easier.” (Tweet This!)
Connect with Justin