104: How Anyone, Anywhere, Can Start Buying Profitable Real Estate with Andrew Luong

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8 • 696 Ratings

🗓️ 20 April 2021

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s hard for real estate investors to get started, especially without a mentor, a background in real estate, or an existing network. Many of those interested in buying profitable, cash-flowing real estate are busy with their 9-5 job or even running their own business. This was at least the case for landlord and founder of Doorvest, Andrew Luong, when he talked to his friends about buying rental properties. Andrew had a passion for real estate and knew that it was one of the best ways to make residual side-income. When he chatted up friends about real estate, they were interested too. Andrew would send them to agents, property managers, show them profit margins, and more. After a few months when Andrew would ask his friends how their real estate was going, they would reply “I didn’t have time to do any of it, will you just do it for me?” Just like that, Doorvest was born. Doorvest allows aspiring investors, regardless of where they’re at in the world, to purchase renovated, cash-flowing properties with management fully built-in. Not only does this help make a potential landlord’s life much, much easier, it also lowers the barrier of entry for anyone trying to get into real estate! In This Episode We Cover Resisting lifestyle creep so you can invest in your assets and businesses Letting your day job subsidize the other business opportunities around you Why most people won’t pursue real estate investing Capitalizing on the leads you get, and making it as easy as possible for them to purchase/invest Building systems and processes so you can be fully remote when running your business Using existing data to make your real estate search more profitable And So Much More! Links from the Show BiggerPockets Forums Turo GetAround Ebay BiggerPockets Forums BiggerPockets Events and Happenings Check the full show notes here: http://biggerpockets.com/bizshow104 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Here's the truth about AI. AI is only as powerful as the platform it's built into. Service Now puts AI to work for people across your business, removing friction and frustration for your employees, supercharging productivity for your developers, providing intelligent tools for your service agents to make customers happier, all built into a single platform you can
0:22.0	use right now. That's why the world works with ServiceNow. Visit ServiceNow.com
0:27.9	slash UK slash AI for people. Welcome to the Bigger Pockets Business Podcast show 104. For me personally,
0:37.0	from a business standpoint, it's always been to lead with demand.
0:41.1	So try to get the demand first. See if there's people that are interested at all.
0:45.9	And then use that to be able to invest either resources or cash or what have.
1:01.2	Welcome to a real world MBA from the School of Hard Knocks, where entrepreneurs reveal what it really takes to make it.
1:05.1	Whether you're already in business or you're on your way there, this show is for you.
1:07.1	This is Bigger Pocket's business.
1:13.8	How's it going, everybody?
1:15.6	I am Jay Scott.
1:18.6	And welcome to the Bigger Pockets Business podcast.
1:24.3	I am here again this beautiful week with my beautiful wife and co-host, Carol Scott.
1:25.7	How are you doing today, Carol Scott?
1:29.7	Having a great week. Thank you so much. It's kind of a crazy one with so many other things in the works with bigger pockets, new fun and exciting things.
1:35.1	We're winding this show down. So loving that we have had the opportunity to chat with over 100
1:41.6	amazing entrepreneurs and experts, learn from them, and find out what they have
1:47.5	to offer in terms of how we can all lead amazing lives. So we're winding this one down and more
1:53.5	great stuff to come. Yeah. And just to put a finer point on that when we say we're winding
1:57.9	this show down, this is going to be our second to last episode.
2:02.4	So we have an amazing episode today. So please stick around. And then we're going to have an even more
2:07.4	amazing episode next week. But after that, that's going to be the end of the Bigger Pockets
	...

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