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.
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.
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.
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.
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.