Meet JC – house hacking in college for weed to 20 doors

Good Morning,

As some of you know – I’m working on a podcast. I listen to a lot of shows but feel that there are not a ton that cater to the everyday real estate investor.

The idea is to do a 25-30 minute weekly show talking to everyday investors. People who are successful in their niche who can help us all become better.

I bring this up because I actually need your help! I’d love some feedback to ensure the first few episodes rock!

If you’d be interested in hearing the first few shows ahead of time click here.

Now today we have a very special guest. Someone who is not only a great investor but is also just a good dude. It is my pleasure to introduce JC!

How many doors do you have?

So far I have 20 doors – pretty f$cking cool right?

What got you into real estate investing?

House hack in college. 4bdr, 3 roommates covered the mortgage and some weed money for me.

What market(s) do you operate in?

Single fam, college town. Prefer to keep the geography to myself.

How would you describe your portfolio?

Exploded in 2020 when rates dropped. The rate lows alongside bull market stock gains and refis gave me the cap to really get moving

What are you currently buying?

Focused on long play off market single fam but really focused on scaling to a large multi off market. I’m zeroed in on it, but just need that final commitment from the seller.

Tell us about your biggest mistake in real estate?

Not shopping loans and bouncing loan disclosures off multiple lenders. Their will to win, especially knowing I’d be repeat business could’ve saved me 10’s of thousands in the beginning.

Tell us about your biggest win in real estate?

Hoping to close it next week. Called the seller agent of a deal I got 4 years ago. Knew he was homeboys with the seller and that the seller had another killer spot in my locale. Called the agent, asked him to rep both of us. 3 hours later under contract at a huge discount. It’ll be a 20% annual COC return.

Outside of real estate what else do you invest in?

Crypto was fun, but I’m out. I cashed out 2/3 of my stock portfolio in 2021. The rest is in steady Eddie’s like BA, FB, AMZN, and heavy in what I see as the biggest risk/reward, BABA.

Books people should read before investing

Idk, I like Pat Conoroy and Shantaram. There’s more to learn on Twitter if u read through the bullshit lines than in a book. But that’s just me. I get bored reading nonfiction. I’m sure there’s great RE books but I’m too busy grinding. 9-5 and my 5-11 cold calling and networking.

What advice would you give to a new investor?

Start, but make sure you’re cash flowin. Risk Managment is cooked in when you get a killer deal. Oh, and KNOW WHY THE SELLER IS SELLING. Or know why they should be selling.

Appreciation is cool, super f$cking cool, but it’s the icing on the cake. banking on it especially in the short-term to longish is foolish. Cash money is king and mitigates a lot of risk.

Enough Business

We all take things for granted. It’s kind of a thing we humans like to do. For instance we don’t think twice about hopping into our car and driving to where we need to go.

But let’s stop and think for a second that we can’t just hop into our car. That we need to methodically think how we go from crutches or a wheelchair into the car. To shift our weight to allow us to open the door. Go inside then move our crutches or wheelchair into the back.

We’ve all be in a situations when we realize how lucky we were not too long ago. How life can get a lot more challenging in a blink of an eye.

About 12 weeks back Princess fell down a flight of stairs. Miraculously only twisting the ligaments in her paw. This week she finally got her cast off and started moving better.

I say all of this because when she had her cast on and really struggled with moving – she was still the happy go lucky 13 year old puppy. Made me wonder if I’d be as seemingly optimistic as her if I was in the position.

Wonder if she felt sorry for herself. Wonder if she thought about how she used to take going up and down stairs for granted.

See you on Tuesday

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