#38 with Russell Brazil: How to be an A+ Landlord and Spend Only 15-30 Minutes a Month Self Managing
Millennial Millionaire Real Estate Podcast
English - July 21, 2020 17:31 - 1 hour - 120 MB - ★★★★★ - 56 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Jonathan Farber interviews Russell Brazil on his path from a full-time job in the healthcare industry to a full-time real estate investor. Russell is a thought leader in the real estate investing space, utilizing BiggerPockets and other platforms to grow his business. He currently has 13 units under self-management. In this episode, we dig into topics like taking advantage of opportunities, building a rental portfolio, deciding if you should self-manage, and more!
Top Takeaways:
How to capitalize on opportunity - 12:45 - 15:15
Cash reserves are vital
Being able to not just weather a storm but also take advantage of the situation
Having good relationships with lenders gives you the chance to jump on opportunities
How to build a portfolio - 20:40 - 27:20
Gentrification makes the most but has the most headaches
Buying suburban can be easier to manage but the higher cost to enter
Finding an area with a clear path of gentrification makes identifying a location easier
Areas with interspersed areas are more challenging but still doable on the ground
New college graduates, hip bars are signs of gentrifying neighborhoods
New people moving into a neighborhood drives up demand, which drives up appreciation
Buying where you take advantage of your experience
How to decide if you should self-manage - 27:50 - 34:00
Self-managing is nearly always less expensive than professional management
The amount of time spent is far less than many people think
Having systems in place to deal with issues makes things even easier
Paying slightly more for a reliable service, like a contractor or eviction company, can save money and stress in the long run
How to bring value to Russell Brazil:
Taking advantage of technology to leverage more opportunity
Social Links:
www.biggerpockets.com/users/russelltee
www.longandfoster.com/RussellBrazil
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule 1 on 1 time: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr