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Summary
John Chapman shares his real estate investing journey, starting in 1989 in the Pullman area. He began investing in rental properties to secure his family's financial future and has since grown his portfolio to over 85 units. John emphasizes the importance of property management and customer service, as well as staying current with technology to streamline operations. He also discusses the learning curve involved in building rental properties, including zoning and financing considerations. John's key advice for new investors is to start with a duplex and live in one unit while renting out the other (house hacking). He also highlights the benefits of networking and finding off-market deals. Looking ahead, John plans to continue managing his properties and eventually pass them on to his children.
Takeaways
- Start with a duplex and live in one unit while renting out the other (House Hacking)
- Build relationships with contractors and other property owners in your community
- Stay current with technology to streamline property management
- Consider the learning curve involved in building rental properties, including zoning and financing
- Persistence is key in real estate investing
- Explore opportunities in smaller markets outside of major cities
- Have a long-term vision and exit strategy for your real estate portfolio
Chapters
00:00 Introduction and Background
03:09 Property Management and Scaling
08:00 Importance of Customer Service and Technology
12:26 Learning Curve in Building Rental Properties
21:20 Lessons for New Real Estate Investors
27:42 Future Plans and Exit Strategy
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