Dec 7, 2017
Property Investment is one of the hottest segments of the real
estate business, and HGTV like TV shows seems to make everyone
believe that they can become a professional and successful property
investor and "flipper." So to investigate this new trend and
phenomenon, Agent 251 sat down with Jared Irby, a bonafide property
investment professional I Buy Houses - Irby LLC, to
get his insights and thoughts. You have probably seen his mighty
jacked up 251-333-CASH truck rolling around all town. Jared
candidly shares his inspiration to get into the property investment
business, how you can get started and some pro tips on getting the
most out of every deal. The big takeaway of this episode is Irby's
revelation of the importance of choosing your investment portfolio,
business model, and niche.
Notable Notes:
- Finding the investment money to buy property
- Steps to grow into becoming a
- What makes a "good deal" for Jared Irby
- Determine your niche (i.e., low-end rentals or higher end properties)
- Why gumption and negotiating skills are a must in this business
- Why Agent 251 would want to partner or hire Jared Irby to help him on a project or property deal
- The importance of rewarding success and celebrating victories
- Wholesale vs. The Flip business model of property investment
- The upside of selling property investments to other investors
- The pros and cons of section 8 rental property
- Should you consider a property investment training program or should you just jump int o making your first deal?
- Maximizing your sphere of influence to get jump started in the property investment or real estate agent business
Quotable Quotes:
If I can buy something for $.50 (or less) on the dollar, then that is pretty hard to walk away from - Jared Irby
If your timid, shy and can't ask for the deal, then maybe property investment is not the line of work for you. - Jason Will
Doing the work, diligently looking, and hitting deals on a daily basis is the trick to succeeding in property investment. You have to be patient and consistent. - Jard Irby
Not every deal works for our long-term plan. That's why we try to sell these deals to the right investor and buyer. - Jared Irby
Of course have losses, but you make that up with the huge home runs - Jared
You are going to have painful losses, but the trick is to not commiserate on the failure but what can you learn from this moving forward so I can become a better investor or real estate agent - Jason Will
You do your due diligence to minimize your exposure to risk, but at the end of the day, this business is about taking risks.
Not every deal works but if you learn to know what you are doing and really get into it, you have the potential to make hundreds of thousands of dollars. - Jason Will
I love the numbers so for me it's assessing the risk and deciding if I am ok if I lose my investment. - Diana Will
In the long run, you can make your money back on a rental, the flips can be quite dangerous and can carry more downside risk. - Jared Irby
I don't go into business to lose; we go into win. - Jared Irby
Make sure you have as many options to win as possible and at the same time you're mitigating your downside. - Jared Irby