In this episode of the Cashflow for Life podcast, Andrew talks with father-son duo Mark and Josh, exploring their journey in real estate investing. Mark shares his early struggles with real estate, including buying rentals at high retail prices that didn't yield profitable returns. He re-entered the field after educating himself through various resources, including Andrew Holmes' insights. Mark emphasizes the long-term value of real estate for wealth creation and improving his family's future.
Josh, at 24, discusses his transition from studying math to finance and then to real estate. He highlights the simplicity and accessibility of real estate investment and the importance of cash flow. His first property investment at $63,000, with a rehab budget of around $33,800, appraised at $155,000, illustrating the potential for profit in real estate.
Mark then discusses his business strategy as a leasing agent, efficiently managing property showings and leveraging email communications to minimize phone calls. His methodical approach involves grouping property showings to optimize time and create a sense of urgency among potential tenants. He also reveals the growth of his rental portfolio, now comprising 20 properties with 25 doors, generating significant monthly cash flow. He aims to further automate his leasing process using virtual assistants and AI, with Josh's assistance.
Enjoy!
What You Will Learn In This Show:
