Manage episode 251224914 series 83575
From panicked newbie with just $1,000 saved to 40 rental units—in two years’ time!
On today’s show, we sit down with Henry Washington, a buy and hold investor from Arkansas who’s built a sizable portfolio while working full-time.
You’ll learn how Henry changed his mindset as he and his wife prepared to start a family and how he secured his first deal by doing something anyone can do—simply announcing to the world that he buys houses.
You’ll also learn how Henry built a deal pipeline by looking in places other investors didn’t, how he asked more experienced investors for help when he didn’t know what to do next, and how he does business with local banks to expand his portfolio.
Plus, Brandon and David dig into how to property screen tenants, how to decide when to flip or BRRRR vs. when to hold onto a rental, and how to use an online ad campaign to drive a steady supply of leads to your website.
This episode lays out a blueprint for building massive wealth. Just adapt it to your market, and work the process.
Don’t miss this one, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next!
In This Episode We Cover:
- How “panic” drove Henry to start saving and investing
- How he started his investment career by simply “paying himself first”
- The list he used for his first (wildly successful) direct mail campaign
- The lessons he, Brandon, and David took away from Rich Dad Poor Dad
- Why he told people he bought properties (before he ever did!)
- Why writing down his fears helps him conquer them
- How he sought help from a more experienced investor on his first deal
- How he used a 401(k) loan to buy a cash-flowing property
- How he launched a Google Ads campaign to drive traffic to his website
- The power of small, local banks to fund deals
- Why he holds open houses rather than individual showings for tenants
- Why the best real estate investors buy “situations,” not houses
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Business Podcast 30: How to Guarantee Profit From Day 1 with Mike Michalowicz
- Google Adwords
- BiggerPockets Bookstore
- BiggerPockets Business
Check the full show notes here: http://biggerpockets.com/show366