1. Find deals 2. System to know what to do with the leads 46:30 Every Monday morning, go to the for rent section of Craiglist and find mom and pop people. Ask if they want to sell. If they don't, ask if they have anything else. 56:08 Better than BRRR
Love this show, I've watched it several time. Mr Washington, you've inspired me to put the things you talked about into how I operate my business. I have yet to do a deal but I'll be buying my first rental by may of 2022.
This is definitely one of my favorite episodes! Have listened to it a couple times now! Henry is such a good person and so relatable! I can see why he does so well! Having the appearance and demeanor of a bid teddy bear probably helps also 😂😂😂 ❤
IndependenceRealtyGroup thank you for sharing your story! It’s motivating to us newbie Investors. Are you going to do educational vids on your YT channel ?
@@TheHenryWashington can I ask, what we’re some resources you used to learn to run the numbers? How did you learn what numbers made sense for each deal? How did you create your criteria?
Love listening to this while driving but so hard to hear with one person loud, one extremely quiet, perhaps can equalize the sound or whatever it’s called so it’s all equal volume? Love the show though
Conner Thegamer7 i thought the exact same thing. They need to fix the audio either pre recording or post because i had the volume way up for Henry... then dave or brandon talking almost popped my eardrums
@@kevinleahy3619 I know audio balancing can be tricky with live guests and two hosts, but it really does add to the professionalism of the broadcast and steps your game up 10x.
Man am I glad they mentioned the rich dad poor dad book! The day I quit I got the audiobook and had a blast listening to it. Yelling out loud as I was agreeing to Robert's statements!
@@mannythompson8800 no I have not. I actually went to apply for a mortgage for a property I saw in 2020 but was denied because of my income to debt ratio. My kids student loans are messing me up right now.
@@TrudyVanD sorry to hear that, but it's important, too. If you work, putting money into your retirement account, and maybe doing some taxable brokerage account investing can get you started with building wealth and passive income until you can get into rentals.
8:04 Pay yourself first. 10% in a savings account before you pay your bills. 9:50 The key is mindset. When you have a fear, write those fears down and look at it. What things can you do to alleviate those fears? This can help you get over them and move forward. 17:46 Poor people say I can't afford it. Rich people say how can I afford it? Get creative and make it happen!
27:30 Over $100 per door he's going to buy, if not that if can be flipped an ear over $15k-$20k than it's a buy 54:49 Potential deals on Craigslist 1:01:00 how to deal with contractors down payment
So impressed with the number details you walk through here at BiggerPockets ... you just may have one up on Robert Kiyosaki from that perspective Thank you so much 🙏🏾🙏🏾🙏🏾👍🏾👏🏿👍🏾
I'm pivoting to real estate from PC gaming as how I mostly spend my time. I still follow channels where a buyer of a computer part (say a graphics card) will show up for pickup and ask "what else you got?" Sometimes the person will have something else you'd like or something FREE like an old computer or monitor that actually works. I bought an Instant Pot over the holidays for $40 and I asked the guy while I was there what else he had. I picked up a nice cast iron skillet for $10 that made a nice additional gift for my wife. WHAT ELSE YOU GOT?? Always ask!
Rich dad poor dad was the first book ive read and changed my life currently remortaging our house after 5 years to release equity to buy our first btl in the uk turning 30 in october want to leave day job in 5 years been there for 10 years so far.
Great interview , probably will listen to this a couple times throughout the journey , always had aspirations of real estate , not sure I’ve put the steps in play to fully move forward . Started really researching ( podcast , blogs , books) start of 2019 , its 2020 still no property yet lol but live in an expensive market (SF) and really starting to put the wheels in motion to do a long distance but hold for the first one .. just wanted to say thanks for this episode and solid process hopefully can continue to follow his journey in future - JG
I look at these places and prices and think damn ITS CHEAP in the latter stages of my first buy. Underwriter just closed, appraisal done. Im in Miami duplex $388,850 but I realized God put me in the Lions den for a reason... 😆 see you at the top. PS if it's about the people you will succeed hell or high water. Amen
NEVER, EVER GIVE A DOWN PAYMENT!!!!! BUY, MATERIALS YOURSELF, THEN PAY 75% of work completed ... Always, hold enough back to be able to not lose money getting someone else to finish... Plus, most smaller jobs should be done by end of week or 2 and they get paid...NEVER LET CONTRACTOR CONTROL MONEY OR THE JOB PACE!
“If I had a six hours to chop down a tree, I would spend the first four sharpening my axe” -BT I am going to miss this type of wisdom from Brandon Turner on BP. Great podcast from start to finish. I took notes.
When you build on the vacant lots, will the bank from the original purchase still hold a lien on the property + improvements or how would you separate those lots from the original loan?
What i learned from Rich Dad and Poor Dad was how to think above the normal person. Instead of I can't do this...and change it to How can i do this It applies great to real estate and that is when your brain starts thinking.
None are free and clear. Paying off the loans are not my focus at the moment. Im focused on buying as many as possible at great prices. In the future, i may look to sell off half my portfolio and use the profits to pay off the remainder of the portfolio.
Step 1. Find a random deal Step 2. Get money from your hard working wife's life's savings Step 3. Spam people with mailers begging to buy their junk house Step 4. Find a contractor to quote you on repairs Step 5. Borrow/Beg people you think have money to fix it up Step 6. Pay people back after a flip and walk away with racks on racks.
@biggerpockets @henry How were you able to find a breakdown of age demographics with residential dwellings (and other useful information) for the mailing campaign?
He said over a $100 a dollar and he’s taking it. Here I am looking for an investment property in a certain market seeking to get no less than $500. Who else would be accepting so little and why?
Can someone explain that loan to me. If the rehab is included in the loan does that mean the property has gained extra equity when the property is paid off?
Anyone know what episode they interview Mike Macavit. I'm spelling his name wrong for sure but Brandon advises to check it out at 1:12:00 Thank you in advance
I mean, some wealthy people did not work for their wealth and were brought up around it. But yeah, in order to use money and income to generate wealth you have to have a completely different mindset than just an employee and consequently a consumer.
How do you maintain so many doors if you can't find tennants? And how do you keep having access to finance with so much debt on hand with all the doors?
The audio on this show needs to be regulated. Maybe prep your guests on staying close to the mic the entire time. Or modulate the sound in post production.
0:30 - Start of Show
2:21 - Quick Tip
4:08 - Welcome Henry Washington
what camera are you using the vid quality is great!
Get bunch of leads, prep, do something with them leads 😆 🤣 😂
Bigger Pockets! Could you do a con in Colorado? Denver?
This guy looks like he gives good hugs
Tarzan lol
Cameron McNulty 10/10, can confirm.
Facts! i do give good hugs!!
The cuddles... must be great!
@@TheHenryWashington how much profit did u make from that 6 unit property?
"Rich Dad, Poor Dad" is definitely a great read! I'm so happy that book was what caused him to make a first step! Love the story, great video!
I love your content, too! Thanks you for relaying all the fine print to us!
Subbed. You are awesome; Mrs. Erika.
This was one of the most relatable and practical podcasts on your channel. Would like to hear more from RE investors like Henry Washington.
Thank you!!!
Quick tip is truth! Share, network, start a channel, but connect with others, it’ll help you out a ton! It’s a team sport!
1. Find deals
2. System to know what to do with the leads
46:30
Every Monday morning, go to the for rent section of Craiglist and find mom and pop people. Ask if they want to sell. If they don't, ask if they have anything else.
56:08 Better than BRRR
Love this show, I've watched it several time. Mr Washington, you've inspired me to put the things you talked about into how I operate my business. I have yet to do a deal but I'll be buying my first rental by may of 2022.
Possibly the BEST BP episode ever! I learned SO MUCH from this fantastic guest! 👍
This is definitely one of my favorite episodes! Have listened to it a couple times now! Henry is such a good person and so relatable! I can see why he does so well!
Having the appearance and demeanor of a bid teddy bear probably helps also 😂😂😂 ❤
40 doors with a full time job... aggressive 👍🤑
Thank you!
IndependenceRealtyGroup thank you for sharing your story! It’s motivating to us newbie Investors. Are you going to do educational vids on your YT channel ?
Wow! So motivating for those of us who work full time but want more and planning to get started in real estate investing.
#Goals
@@TheHenryWashington can I ask, what we’re some resources you used to learn to run the numbers? How did you learn what numbers made sense for each deal? How did you create your criteria?
I like the part about fear, writing them down or talking about them does help.
Amazing video!! Brandon’s humble attitude is so refreshing!! Boy wish we could teach this to the world. Lol
Love listening to this while driving but so hard to hear with one person loud, one extremely quiet, perhaps can equalize the sound or whatever it’s called so it’s all equal volume? Love the show though
Conner Thegamer7 i thought the exact same thing. They need to fix the audio either pre recording or post because i had the volume way up for Henry... then dave or brandon talking almost popped my eardrums
@@kevinleahy3619 I know audio balancing can be tricky with live guests and two hosts, but it really does add to the professionalism of the broadcast and steps your game up 10x.
Same... can't hear him.
Why is he whispering? Jeez Louise.
This was good stuff. The guy is so detailed and makes info plain for everyone..
Thank you!
Man am I glad they mentioned the rich dad poor dad book! The day I quit I got the audiobook and had a blast listening to it. Yelling out loud as I was agreeing to Robert's statements!
So good! Henry is a good Human and a good investor. Heartwarming
Excellent episode. By far my favorite. I learned a lot! As a new investor, I am stuck and have not made moves. Henry made it much less intimidating.
What are you waiting for?
Henri M fear!
@@TrudyVanD I hope you were able to get started in the past year!
@@mannythompson8800 no I have not. I actually went to apply for a mortgage for a property I saw in 2020 but was denied because of my income to debt ratio. My kids student loans are messing me up right now.
@@TrudyVanD sorry to hear that, but it's important, too.
If you work, putting money into your retirement account, and maybe doing some taxable brokerage account investing can get you started with building wealth and passive income until you can get into rentals.
Love this. Inspiring! Thanks for telling your real story. Alot of folks never share how they got their initial money for their first home!
The Power is in the DEAL!!! SHEESH! Im motivated now!
Facts man!!!
So glad to see someone from NWA on here. Great inspiration!!
Thank you sir!
Great story! Great methodical, thoughtful advice from Henry. He is crushing it!
Thank you!
Talking about marketing, "It's absolutely worth it if you're going to do work after you get the lead." [35:40]. ❤️👊🏻
8:04 Pay yourself first. 10% in a savings account before you pay your bills.
9:50 The key is mindset. When you have a fear, write those fears down and look at it. What things can you do to alleviate those fears? This can help you get over them and move forward.
17:46 Poor people say I can't afford it. Rich people say how can I afford it? Get creative and make it happen!
27:30 Over $100 per door he's going to buy, if not that if can be flipped an ear over $15k-$20k than it's a buy
54:49 Potential deals on Craigslist
1:01:00 how to deal with contractors down payment
Rich Dad DEFINITELY changed the entire trajectory of my life and future!
So impressed with the number details you walk through here at BiggerPockets ... you just may have one up on Robert Kiyosaki from that perspective
Thank you so much 🙏🏾🙏🏾🙏🏾👍🏾👏🏿👍🏾
Great Story!!! Why has no one I've talked to about real estate given me a box of books and offered to help me invest in real estate?
22:21 Why building deal pipeline is important.
Good deals don't find you. You need to find them.
There are a lot of great tips in this video! Thank you for all the information!
Glad you enjoyed it!
Getting that meeting with the apartment building owner...genius.
I'm pivoting to real estate from PC gaming as how I mostly spend my time. I still follow channels where a buyer of a computer part (say a graphics card) will show up for pickup and ask "what else you got?" Sometimes the person will have something else you'd like or something FREE like an old computer or monitor that actually works. I bought an Instant Pot over the holidays for $40 and I asked the guy while I was there what else he had. I picked up a nice cast iron skillet for $10 that made a nice additional gift for my wife.
WHAT ELSE YOU GOT?? Always ask!
Love the mindset of this individual. Pure hustle is making him good passive income.
David finally made it into the intro! woot!
Rich dad poor dad was the first book ive read and changed my life currently remortaging our house after 5 years to release equity to buy our first btl in the uk turning 30 in october want to leave day job in 5 years been there for 10 years so far.
40 doors is great in Arkansas and probably cost 5 doors where I live i need to move. Great job Henry
Great interview , probably will listen to this a couple times throughout the journey , always had aspirations of real estate , not sure I’ve put the steps in play to fully move forward . Started really researching ( podcast , blogs , books) start of 2019 , its 2020 still no property yet lol but live in an expensive market (SF) and really starting to put the wheels in motion to do a long distance but hold for the first one .. just wanted to say thanks for this episode and solid process hopefully can continue to follow his journey in future - JG
be careful things are priced to perfection and stories successful like these are rare with things they dnt tell u
I look at these places and prices and think damn ITS CHEAP in the latter stages of my first buy. Underwriter just closed, appraisal done. Im in Miami duplex $388,850 but I realized God put me in the Lions den for a reason... 😆 see you at the top. PS if it's about the people you will succeed hell or high water. Amen
NYC is the lions den.
NEVER, EVER GIVE A DOWN PAYMENT!!!!! BUY, MATERIALS YOURSELF, THEN PAY 75% of work completed ... Always, hold enough back to be able to not lose money getting someone else to finish... Plus, most smaller jobs should be done by end of week or 2 and they get paid...NEVER LET CONTRACTOR CONTROL MONEY OR THE JOB PACE!
Could you explain this more please
40 doors is a great achievement.
Thank You.
In some places local banks will compete with each other too. "Bank x on the other side of town said they would do what? we can do better than that."
Great episode. As a working professional, with a family, it’s great to hear his story. ✅
Thank you!
“If I had a six hours to chop down a tree, I would spend the first four sharpening my axe” -BT
I am going to miss this type of wisdom from Brandon Turner on BP. Great podcast from start to finish. I took notes.
When you build on the vacant lots, will the bank from the original purchase still hold a lien on the property + improvements or how would you separate those lots from the original loan?
Yes we would look to use the same lender. Hopefully avoid having to put money down that way.
Such a great podcast, Henry is such a beast
Love the humble attitude!
What i learned from Rich Dad and Poor Dad was how to think above the normal person.
Instead of I can't do this...and change it to How can i do this
It applies great to real estate and that is when your brain starts thinking.
How did you compile the list of people to send post cards to?
Awesome show!! My dream to own an whole block of rental properties:) #Inspired
What systems do you use? Such as finding phone numbers, sending mailers, sending text, cold calling… etc
Great show. What is a good deal? How do you know if a deal and home is more expensive than the offering price?
Henry is a good dude, very smart, and silent killer (in REI)
Bigger pockets for the win again!
This is a people business, real estate is just the way that money is made.....BEST BP QUOTE TO DATE!
What was the real estate book on raising capital ?
well done. Thank you for sharing
This is a great episode, so detailed and realistic!
Section 8 housing is the way to go
I love his work ethic but would love to know if he cleared any of properties. How many doors are free & clear?
None are free and clear. Paying off the loans are not my focus at the moment. Im focused on buying as many as possible at great prices. In the future, i may look to sell off half my portfolio and use the profits to pay off the remainder of the portfolio.
Very inspiring thank you very much. I began in this journey
Wow!! Very motivational. Keep up the momentum
For big jobs 4 weeks +
1/3 down to cover materials
1/3 progress payment 50% completed
1/3 final payment
which podcast has Mike Makaravitz? (sp?)
Really good info and great story -- thanks for sharing!
Boom on the way #On2DaNext
Great video. Thanks for sharing your thoughts and experiences.
Thank you!!!
great episode
Great episode, Fam!
Great interview but they didn't go over THE most important aspect of how he qualifies for so many loans.
If they're commercial loans there is no limit as long as he has the down payment.
once you get going you don't need a loan. You buy with cash
Just have a decent credit score and a good loan to value. You can have as many commercial loans as the bank will allow.
*Fantastic story!* 👍
Thank You,
Step 1. Find a random deal
Step 2. Get money from your hard working wife's life's savings
Step 3. Spam people with mailers begging to buy their junk house
Step 4. Find a contractor to quote you on repairs
Step 5. Borrow/Beg people you think have money to fix it up
Step 6. Pay people back after a flip and walk away with racks on racks.
"...Drugs are bad" Love that!!!
What was the name of the book for raising capital?
Very inspirational story
Thank you!
Would love to hear about his owner financed deals.
Find me on IG and shoot me a DM @independencerealtygroup Id be happy to share details. I also talk about it the BRED podcast episode 8
@@TheHenryWashington hey saluet big dog... ur killin it!
@@TheHenryWashington bred?
What was the name of the real estate book he recommended?
Great story bro!!
I love the dogs and treat comp
@biggerpockets @henry
How were you able to find a breakdown of age demographics with residential dwellings (and other useful information) for the mailing campaign?
I used ListSource.com There are filters for everything
He said over a $100 a dollar and he’s taking it. Here I am looking for an investment property in a certain market seeking to get no less than $500. Who else would be accepting so little and why?
Can someone explain that loan to me. If the rehab is included in the loan does that mean the property has gained extra equity when the property is paid off?
I'll be checking out lead propeller website
Where do you find these banks? THat is crazy. Every bank around me is typical 25% down.
Just call every local bank in your area and keep a spreadsheet of the kinds of terms each offers.
Man! Inspiring stuff
Anyone know what episode they interview Mike Macavit. I'm spelling his name wrong for sure but Brandon advises to check it out at 1:12:00
Thank you in advance
th-cam.com/video/M-huE_m-Ir0/w-d-xo.html
Mike Michalowicz
Carrots, contractors and chocolate chips
😂😂😂
The Book on Raising Capital.... who’s the author? Was trying to find it on Amazon and a bunch of stuff popped up
Awesome interview!
Thank you!
PLEASE fix your audio peaks. Love the podcast but damn is hard to listen to when it's quiet and then BAM EVERYONE IS SCREAMING lol
Well alrighty thn I guess I gotta go pick up rich dad poor dad....great story by the way real inspiring!
DO IT! Changed my life!
I mean, some wealthy people did not work for their wealth and were brought up around it. But yeah, in order to use money and income to generate wealth you have to have a completely different mindset than just an employee and consequently a consumer.
People look at the way rich people live now, they don't look at the way rich people had to live to get to the place they're at now.
what database did he use to find older homeowners with equity to mail too?
Orlando Gonzales listsource
Thoughts, if real estate will crash before the end of year 2023 due to high inflation?
For everyone that made it to the end: ERMAHGERD KERRERTS!!! - Google image search....it's hilarious
Wells Fargo and BBT will appraise the property and give you that amount
40 with a full time job and a family!
Wow
Great video. How risky is it being a hard money lender?
Do you have any smaller banks that you can refer me to that would fund a great deal I have?
How do you maintain so many doors if you can't find tennants? And how do you keep having access to finance with so much debt on hand with all the doors?
They find a way. Don't focus on the problem, focus on a solution.
The audio on this show needs to be regulated. Maybe prep your guests on staying close to the mic the entire time. Or modulate the sound in post production.