youtu.be
Brian Schroeder and Lucas Walls fill in for Sam Prim in the 2020 Real Estate Investor Debate. They own multiple businesses in the single-family residential real estate investing game, including a flipping company that buys and sells about 200 houses a year. They provide a market update and mention that Sam Prim is on a west coast golf trip and will be on TikTok.
Brian and Lucas discuss the benefits of investing in single-family rentals, including the potential for equity growth and the ability to pay off the note over time. They mention that interest rates are currently very low, making it a great time to invest in rentals. They also reflect on how technology has changed the way they advertise for tenants.
They suggest networking and building relationships with local wholesalers, real estate agents, and other professionals in the real estate investment industry to find off-market deals. They recommend attending local meetups and joining real estate investment clubs or Facebook groups to connect with investor-friendly agents and wholesalers. They also suggest using direct mail to target specific areas and find potential deals.
Brian and Lucas discuss the "bur method" of real estate investing. The burr method stands for buy, rehab, rent, refinance, and repeat. They explain that this method involves buying a house at a discount, fixing it up, renting it out, and then going to a local bank to get it appraised at a higher value.
They discuss their strategy for deciding whether to keep or sell a rental property when a tenant moves out. They explain that they aim to create a long-term, quality asset with their portfolio of houses. If a tenant moves out, they ask themselves if they want to own the house for the rest of their lives. If the answer is yes, they re-rent the property. If the answer is no, they sell it.
Brian and Lucas discuss the differences between owning properties in your personal name versus an LLC. They explain that you can have up to 10 properties in your personal name, and after you buy, rehab, and rent the property, you can refinance.
They also discuss the current state of the real estate market, noting that the demand for rentals has slowed down as we move into the fall and winter months. They recommend a video on their YouTube page for beginners in real estate investing and discuss the potential for using the burr method in Jacksonville, Florida. They express their appreciation for the viewers and their goal of inspiring people to achieve financial freedom through real estate investing. They also mention that they enjoyed the debate and hope to do it again soon.
Brian Schroeder and Lucas Walls fill in for Sam Prim in the 2020 Real Estate Investor Debate. They o