Tuesday, October 17, 2017

How to Make Money in Real Estate

make money in real estate, capital gains, capitalism podcast, capitalism, joe fairless, finance

You can make money in real estate.

It’s a proven fact that the return on investment (ROI) for the typical real estate deal far exceeds what you’ll see in the typical wall street investment. But the risks are – well – different.

There’s a tremendous learning curve when it comes to real estate investing so you want to be sure you have your ducks in a row before you step into the game. Having a person like Joe Fairless as a resource and guide will definitely help you make that learning curve shorter, which is why he’s the guest on this episode of Capital Gains.

Joe is an experienced real estate investor who makes money in real estate primarily through purchasing multi-family apartment buildings. On this episode you’ll hear how Joe got started, what he looks for in deals, and why he believes anyone can make money in real estate if they take the time to learn the business.

From a New York advertising agency to real estate investing: Joe Fairless’ story.

If you’ve spent any time in the online real estate world you’ve probably heard the name “Joe Fairless” before. Joe is a successful real estate investor and podcaster.

His show, “The Best Real Estate Investing Advice Ever” is one of the most listened to podcasts in the real estate investing niche.

Joe’s story spans college, a career in a New York City advertising firm, and self-studying the real estate industry so that he could learn how to invest in real estate himself.

On this episode you’ll hear Joe’s entire story as well as get some sage advice about how a first time investor can get started making money in real estate, so be sure to listen.

Don’t get into the real estate investing game without doing your homework.

When Joe Fairless is asked what he’d suggest to a first time real estate investor he immediately responds by saying that nobody should jump into real estate investing and expect to make money if they are not willing to take the time to learn what goes into a successful investment.

He suggests listening to real estate podcasts, reading books (he’s got a new one out right now), and asking questions of experienced investors you know or meet on sites like BiggerPockets.com. With the right preparation you can make money in real estate just like Joe has.

If you don’t have money to fund a real estate investment there are plenty of people who do.

When Joe Fairless got started in real estate investing he couldn’t qualify to buy a house of his own. But obviously that didn’t stop him.

He started working through his contacts to find people who might be interested in pooling their cash to get into a real estate investment.

What he discovered is that there are plenty of people out there with substantial sums of money who are interested in making money in real estate deals but don’t want to put in the time to learn the business for themselves.

That’s where Joe stepped in – and he and his investors have purchased over $54 million in properties to date as a result. Joe shares a lot of his experience and insight on this episode so be sure you take the time to listen.

You’ll get a “from square one” education on how to make money in real estate on this episode.

How Joe Fairless ensures he’ll make a profit on his multi family properties.

One of Joe Fairless’ primary principles for real estate investing is that he doesn’t want to lose money (Duh).

To that end he has developed a system that ensures that when he invests in a multi family apartment building (his favorite type of investment) he’s going to make money on the deal.

His system looks at things like occupancy rate, current income from the property, and improvements he can make to the property that will enable him to raise rents, thereby increasing cash flow to make the property more profitable.

You’ll get to hear it from Joe directly on this episode so grab a pen and paper and take some notes.

Outline Of This Great Episode

  • [1:10] Introduction of Joe Fairless, Real Estate Investor.
  • [3:10] Joe’s background: from Texas to New York City: advertising & self taught real estate investing.
  • [5:13] Making the switch to multi-family properties and leaving the advertising job.
  • [8:18] Real estate investing with groups of investors is how Joe got started.
  • [10:18] A unique strategy for his first deal.
  • [14:38] A two year learning curve ‘til his next deals and an eventual $54 mil in properties.
  • [19:41] What Joe looks for in properties to make a better return.
  • [25:10] How Joe makes sure that he’ll get the profit he’s looking for in a new property.
  • [30:07] The typical investor who works with Joe on his real estate investing purchases and how he meets them.
  • [35:22] What an investor should look for in a partnership or investing group.
  • [41:19] What should a first time investor look for and how should they get started?
  • [48:19] How Joe got started podcasting and how it’s impacted his business.
  • [52:43] Joe’s bonus guide for everyone who buys his new book.
  • [53:43] The goal Joe has to control $1 billion within the next 10 years.
  • [55:09] How you can connect with Joe.

Connect With Today’s guest: JOE FAIRLESS

Resources Mentioned On This Episode

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  • C. Davis

    There is no audio available.

    • capitalismbethechange

      Thanks for your note, C. Davis. The article has been updated.

  • tony_rovere

    How do you download the podcast? Or am I missing something?

  • Joe Fairless

    Really enjoyed our conversation and grateful for our friendship.

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