#140 with Tony Ray Baker: How to Build an Effective Real Estate Portfolio & Investing with Partners

Millennial Millionaire Real Estate Podcast

English - December 17, 2020 18:43 - 44 minutes - 81.1 MB - ★★★★★ - 56 ratings
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Previous Episode: #139 with Aaron Perez: How to Build a Land Empire of Buying Extremely Low and Selling Way Higher

Next Episode: #141 with Jonathan Farber: Life Updates and Upcoming Mastermind

In this episode, Jonathan Farber interviews Tony Ray Baker on his road from signing up for a real estate school to building a portfolio of rentals, owner occupied, long term rentals, and an Airbnb. Tony is a broker and multistrategy investor in Tucson, Arizona. In this episode, we dig into topics like: how to start off right as a broker, why more brokers aren’t investing, taking advantage of renovation loans, and more!

Top Takeaways:

The key to a successful start as a broker - 9:30 - 12:15

If you want people to do business with you, bring them value

The best place to start is your 100 close friends that already like you

Bringing value can look like anything you would want to get as a homeowner

Why brokers don’t invest in real estate more - 12:45 - 15:15

Brokers have a very difficult income type for attaining property loans

They have to hustle constantly for their income and anything else can feel like a distraction

After roughly five years though, many successful brokers realize the money is in investing

Using a 203k FHA renovation loan - 21:45 - 24:00

The key to success is finding a lender who specializes in renovation loans

This brings with it the right contractors and vendors who are accustomed to the process