Manage episode 246192165 series 83575
Want to build massive wealth in a top-end rental market that’s also really expensive—all while minimizing your risk? Don’t we all!
Well, you’re in luck, because today’s guest has done just that—and in a surprisingly simple way that anyone can replicate. On today’s show, Brandon and David dig deep into the strategy used by Joe Asamoah, a Washington, D.C. investor, who owns more than 30 single family homes that are currently building him massive wealth!
You will be absolutely fascinated as you hear how Joe uses HUD housing vouchers to generate big returns in high-end areas while also reducing his risk to survive tough markets. Joe also shares some amazing tips for how he keeps tenants for 15 years at a time, including how he creates a huge demand for his homes, which kinds of properties he targets, and how he gets deals brought to him before anyone else.
Joe goes on to reveal some extremely effective tips regarding how to treat your tenants so well they never leave, how to convince lenders to work with you, and why he visits potential tenants in their current homes on short notice.
This show is chock full of extremely practical advice anyone can follow, not to mention useful tips for high-level real estate investing. This is an episode you will listen to several times and walk away extremely inspired.
In This Episode We Cover:
- Why he targets 5-bedroom houses
- Why the greatest HUD demand is for 4-, 5-, and 6-bedroom homes
- HUD requirements for what qualifies as a bedroom
- The advantages of investing in a capital city
- Why he rehabs his properties to HGTV-grade quality
- Why he visits potential tenants at their current homes
- Why he sends his tenants flowers on Mother’s Day and presents for Christmas
- Why he rewards his tenants' children for good grades and even offers vacations for tenants
- How his model is designed to be recession-proof
- Why he has a 20-page lease
- Why he focuses more on reducing expenses than he does on increasing rents
- Why he hired an assistant to manage his properties instead of using a traditional property manager
- And SO much more!
Links from the Show