Joseph Gozlan hosts Steven Nguyen on the Apartments Operators Podcast Episode 127 to discuss how Steven grew his portfolio to over 90 units on his own with no partners and while still having a busy W2 job! Steven shares his insights and honestly admits some of the regrets he has from the journey.
Episode 127: Zero to over 90 units while still working a W2 with Steven Nguyen
- 01:42 House Hacking: I lived in the master bedroom and I had to rent out the other
- 04:21 There is good debt, bad debt, and really bad debt.
- 05:04 There's a famous video of Warren Buffett
- 06:53 the value of apartments is based on the net operating income
- 10:08 Oklahoma City? It's not a sexy market.
- 11:02 choose a market first and then try to scramble to find a property manager.
- 11:49 when you interview 20 property managers, it does one or two things.
- 17:11 my job is to remove those barriers as fast as possible
- 17:47 don't worry about committing for too long
- 22:18 simplicity scales, fancy fails.
- 24:31 shiny object syndrome
- 26:15 there's always somebody that represents you
- 30:42 It was always by the unit.
- 31:32 That's why I said it's better to be great at one asset class versus be okay at two or three.
- 32:29 make sure that your property managers give you at least three bids for every project
- 36:44 get started in real estate earlier
- 37:36 focus on the process, not the outcome
- 38:40 writing large checks every month has a psychological burden
- 39:16 happy medium in the middle where that's a sweet spot
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