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Episode 52: How Jerry & Jacobe Create Passive Income With Real Estate Investing
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On this episode of the Jerry and Jacobe Podcast, the topic ishow to create passive income with real estate investing! They are discussing various categories in real estate investing and investing in general. What do you need to know to make the best investment choices? Tune in now.
Episode Highlights:
- In the military, they have classes that are called transition assistance; All of the classes get you ready for civilian life.
- Jacobe was introduced to Robert Kiyosaki, he talked about his financial IQ and then he mentioned the book, Rich Dad, Poor dad, when he read it that is what ran him down the road of passive income.
- Jacobe started researching and he found out every person who has a significant amount of wealth has real estate in their portfolio. It is the one endeavor that the average human being, the average person, if you get creative, you can do whatever to get into real estate. He started looking down the road you get on YouTube.
- On the first day of the event, Kent got up and did his intro speech and he said two things that stuck out to Jerry. He said that 50% of the houses in America are sold off markets and the second thing he did, he defined this thing called wholesaling.
- Taking action on the right information will change your life, make sure that you have access to the right information.
- There are opportunities out there, you just have to know how to find the opportunities and most of the people that Jacobe speaks with want to invest in real estate, what they call gambling.
- The one part about real estate investing that Jerry likes so much is, with the skill set that he has between retail sales and investment, he doesn’t know if there is a good or a bad market. People always say it is a good market or it is just the market and whatever the market is doing is what he needs to figure out, so it definitely expanded the skill set.
- You make your money when you buy it. And that means you have to make an offer that allows your profit-one that your profit has already been accounted for, says Jacobe.
- Jacobe says from an investing mindset, wholesaling is a skill that if you want to become an investor, wholesaling is something that you should just know in general.
- People buy houses that they are going to live in and those are retail. Retail set purchases are most of the time on the MLS. You are going to find a house that is being sold at retail and what that means is it’s being sold close to its market value. You have to be able to buy something at a wholesale price and then mark it up and sell it at a retail price, that’s what an investor does.
- When you are investing in real estate, you want to find either an area that you know is up and coming or you know really well or if you don’t have any knowledge and you are just starting out, you want to find a place that has a lot of transactions because it has a lot of data and real estate residential real estate is sold on comparable sales.
- So many investors look back in 2008, 2009 and 2010 and they were so nervous then that they didn’t buy. And they definitely regret it because the real estate market has definitely rebounded from those years, that is for sure.
3 Key Points:
- Jerry didn’t know anything about real estate investing. He had been a realtor for probably five years, and he knew people invested. All of the investors that he worked with all had money. They were buying houses for cash, or, they were putting 50% down and getting a loan.
- Jacobe explains what actual investing is. “If it is real estate or anything else, as you have something and you add value to that, you know that you’re going to get a return on that investment or on the money you put in or on the product you put out.”
- Every time you remodel a house, there will be something that comes up that you did not expect or when you go to sell the house, there will be something that will come up that you do not expect.
Resources Mentioned:
- Jacobe Kendrick Facebook| LinkedIn | Instagram |YouTube|
- Jerry Weaver Facebook | LinkedIn | Instagram|
- Success Without Sacrifice Facebook page
- BJJ Realtor YouTube
- https://www.weaverrealtypro.com/
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