In today's episode of the Cashflow for Life podcast, Andrew is joined by Bart Kosinski, a seasoned contractor with 20 years of experience, to discuss his transition from contracting to successful real estate investing. The conversation begins with Bart's background in the industry, highlighting his Polish heritage and how he started as an employee learning various trades before establishing his own business. Bart shares his journey of initially working on projects for investors and clients, leading to his interest in investing himself. He recounts his first steps into real estate investment, starting with flips and gradually moving towards rental properties.
Bart explains the challenges and learning experiences he faced in his investment journey. He reflects on his initial strategy during the COVID-19 pandemic, opting for Section 8 rentals in C neighborhoods for security. Bart also touches on his experiences with Airbnb investments, starting in Florida and then expanding to Chicago. The discussion explores the nuances of choosing properties for different investment strategies, such as Airbnb, rentals, and flips, and the importance of location in these decisions. Bart emphasizes the ease and profitability of managing smaller properties and shares his shift in focus from high-cost, time-consuming projects to more manageable, lucrative ones.
Andrew and Bart also discuss the critical mindset shift from contractor to investor. Bart highlights the importance of understanding the real estate market, accessing private money lenders, and adopting efficient strategies for refinancing and rehabilitating properties. He shares insights on balancing contracting work with personal projects and the criteria he uses to select which properties to invest in.
Listen now and enjoy!
What You Will Learn In This Show:
