From division 1 football player to successful rental property investor

0:00The financing you use so I know you mentioned conventional with the down payment on the first one then 1031 how are you continuing to scale because now you've got a couple in Ohio I I think you're working on one in Arizona as well what's what's your plan for for continuing to scale yeah so my first deal I did walk Kean was conventional financing and then I 1031 and used that for another conventional for a single family in Columbus and then I did a sack in Columbus on a on a duplex and then so now yeah kind of ran out of capital trying to build back up but just kind of looking to partner with other people and also just trying to raise money and trying to show people my experience with real estate I think within my family I have a lot of people that know

0:48The benefits of real estate and would like to get into it but they just don't have that Network around them where they know people that have successfully done it and know like they can trust to put their money into them so I'm trying to be become that person within my network and within my family to you know help build wealth within the family different things like that so just trying to raise money and kind of partner with other people to help scale got it okay so so private money is is is where you're kind of leaning toward your next properties yes yes that's that's plan yeah and I think people underestimate that or think that well I don't know anyone who's got you know any money that they'd want to invest but I think the the amount of money that is in your local network it would just surprise the heck out of most people you know and it doesn't have to

1:36be like your parents but anyone that you have some sort of relationship even if it's just friends on Facebook there there's a lot of people that have money in mutual funds or they've been saving in a retirement account diligently for the last 20 years and it's accumulated into several hundred thousand and they would love an opportunity to make double- digigit returns so I think that's a really smart method and as soon as you prove it out and start giving them those returns they don't want their money back they just want to keep investing more with you so right it tends to snowball from there can you share a bit about the the deal that you're doing in Phoenix I or in the is it is it Phoenix Market yeah yeah yeah so I'm looking to Do complete a house Haack in Phoenix either a single family home or

2:25A condo at least in the area that I live in there's not many small multi family homes so I'm looking either if I want the condo route either have a two-bedroom two B has to be multiple bathrooms and just kind of get a roommate for that first year and kind of just cover that mortgage and then move out and kind of rent out the condo or a large single family house again and just get a bunch of Roommates so that's kind of kind of build my team here in Phoenix to start doing that to get a get a house hack that's the plan got it okay so and that's kind of what you did with in Columbus then with the first one is the house Haack method correct yep yep they just trying to you know use as little Capital as possible to keep scale them yeah I tell people all the time that I think the single best thing you can

3:13Do for your personal finances especially if you're younger is to do a house hack and the the impact that that will have if you can get your entire cost of housing covered which is pretty much everyone's largest line item in their budget Plus in a lot of cases you can make money on top of that too so somebody's paying you to live in your house as opposed to having this huge payment it's it's just night and day difference in terms of of the impact it has on your your personal finances and that's not just a one-time impact it's like month after month after month so I think that's so smart what you're doing there and what what part of Phoenix are you targeting now so Central Phoenix and then kind of in the Scottdale area so the that eastern part of Phoenix

4:03Area cool and I you mentioned that you have sort of three golden nuggets that you recommend to investors who are getting started with with real estate investing it was sort of around systems networking and taking action so I'd love to kind of hear a bit more about these these three different approaches that you kind of laid out as as keys to your success can you can you start with your your systems that you have in place like what what is it that you have put in place in terms of systems that that you feel has been beneficial yeah most definitely I think I the biggest thing in terms of scaling and kind of got this idea from this book called The eth just having you know different like

4:51Working procedures laid out of each little step that you do whether that's analyzing a property having that sheet and what you do each time going through that or how you write offers or how you look at markets or just every little aspect of your like real estate business having that written out so that as you grow you're able to hand that off to different people so kind of what I started doing was just kind of writing out like each little thing like hey how do I evaluate this Market what do I look for in terms of population growth job growth crime school ratings and just kind of wrote that down a working procedure went through the next aspect of just like analyzing deals just like I made my own like Excel spreadsheet like hey this is usually I go on Zillow look at you know what how old the house is how

5:39Many rooms how many bathrooms what I think the rental will be and just kind of wrote that down so then eventually once I get to that point where I'm growing and scaling I can hand that off like find virtual assistant that can actually take over those job and just kind of planning for the future and also just makes things more efficient as you're going through your business like you're doing everything the same way and you know that there's like a method to The Madness of what you're doing effectively so I would just say just pretty much just write down everything that you're doing just so that you're able to hand it off as you grow the second aspect of networking which I feel like is just so so important especially when you're first getting started just learning from other people just going to different meetup events or like Ria events where you can find local investors and kind of just see if they'll be your Mentor trying to just

6:27Add some type of value and kind of learn learn from their mistakes and what they're doing successfully like a big thing for me when I was first starting out I just you know I read a bunch of books I ask questions on Bigger Pockets I go to the r meetings but usually like I wouldn't network with a bunch of people I just kind of listen to like what the lessons or different strategies they give out I wasn't really talking to a bunch of people and I went out made some mistakes and kind of learned like hey if I just would have talk to somebody they would have gave me advice or I would have would have made these mistakes and would have I guess catap ped my results a lot faster so just going and networking I think is a huge thing and then the last part of just taking action like I feel like it's you always feel like there's something else you can read or something else you can do to prepare but at a certain point like you learn most by just going out there and

7:16Doing it and unfortunately by messing up I think is the quickest thing to learn like I spent a year again reading books and going to different meetings and all that and I felt like I knew everything there was to know when I got started and to be honest with you I had just hit that beginning of it like I learned so much more by buying that first property and being in it and you know thinking I'm losing money and gaining money and all this kind of stuff by actually just going out there doing so just I just waking up and no matter how like how small the step is just taking some some type of Step or some type of action each day towards your goal I think makes makes a big difference a