30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe Asamoah | BP Podcast 356
Vložit
- čas přidán 22. 08. 2024
- www.biggerpock...
Want to build massive wealth in a top-end rental market that’s also really expensive-all while minimizing your risk? Don’t we all!
Well, you’re in luck, because today’s guest has done just that-and in a surprisingly simple way that anyone can replicate. On today’s show, Brandon and David dig deep into the strategy used by Joe Asamoah, a Washington, D.C. investor, who owns more than 30 single family homes that are currently building him massive wealth!
You will be absolutely fascinated as you hear how Joe uses HUD housing vouchers to generate big returns in high-end areas while also reducing his risk to survive tough markets. Joe also shares some amazing tips for how he keeps tenants for 15 years at a time, including how he creates a huge demand for his homes, which kinds of properties he targets, and how he gets deals brought to him before anyone else.
Joe goes on to reveal some extremely effective tips regarding how to treat your tenants so well they never leave, how to convince lenders to work with you, and why he visits potential tenants in their current homes on short notice.
This show is chock full of extremely practical advice anyone can follow, not to mention useful tips for high-level real estate investing. This is an episode you will listen to several times and walk away extremely inspired.
Check full show notes here: www.biggerpock...
I've watched almost every BP interview and this is HANDS DOWN the best guest I've seen!!
Agreed
He has something new to bring to the table to where the interviewer is learning from him.
Just sharing knowledge in a niche with experience vs slinging product like many guests.
Please have more guests like this! Legit experience. Not fear mongering. Doing good in the world while taking care of yourself. It doesn't have to be either or.
Anna Markowski EXACTLY!!!
I think this guy just chanced a few thousand people lives just now. If more people can execute this, so many people can be helped and so many people can also create wealth all while helping people
Please do
Laura Amour I'm just glad that the guest spoke to and for a people who to suprise of some racist stereotypical types that are ignorant and stupid and dont think.Thats what's wrong with people they dont think they assume and haven't had the whole experience with other human beings outside of themselves - if you get my drift?Yet, like this guest said, they(section 8 renters or low income) want the same things that anyone else would want for their children and families.They dont want to get shot at no more than anyone else wants to get shot at.They dont want to live in a shabby hell hole.FACT! SUPRISE! SUPRISE! SUPRISE! To all the foolish and assuming people.
Go to their house to see how they live now before leasing to them ... GENIUS
@Freeway Rick bc the worst people won't do that. Also it's hard to do all of that work in a short period of time. These are renters it's not likely that in just a day or two of notice that they will paint, clean and mow the lawn.
Yeh man! Now that's thinking!
Absolutely freaking genius!!!!
Wow this is genius I never thought about it like that
It's always about relationships.
This is my favorite show. I've watched it at least 8 times. He's an amazing guest with tons of valuable and useful knowledge. I invest in Los Angeles county and he has given me info that I recently have used and have truly opened my eyes to opportunities near me. So happy you all did this.
I am here too, care to pass along some of the knowledge? 😁
The most knowledgeable episode I have viewed so far on this show! As a beginner investor, I wanted to find a way to do it while giving back and this strategy with Section 8 is what I have been looking for. God bless this man and his heart!
@behindeverybladeofgrass uhh yea...giving people who are low-income a NICE and SAFE place to live is giving back.
@@lovestarr823 it’s not done out the kindness of his heart… he’s getting paid. Also, if you pay taxes then you helped the people actually. Any money the government uses for charity came from your paycheck.
I loved Joe Asamoah's philosophy of thorough screening for Section 8 families with children who are growing and want stability and want that social mobility of moving into a decent well kept home in a decent neighborhood and landlord who rewards their children's academic success.
Because of Dr Joe he’s the reason my wife and I changed our real estate strategy to go after the Section 8 market. I let too many people talk me out of dealing with Section 8 tenants and they are just regular people just like regular rent paying tenants. I wish you more success Dr Joe and keep dropping gems! Thank you 🙏🏾
@ Karl Bennett that’s exactly what I am thinking to do also . This podcast was absolutely amazing ! I am in South Florida so I am not even sure if section 8 is a good option here .
What state did you switch to section 8?
I definitely want to implement Dr Joes business philosophy into it tho . It totally resonates with me.
Best episode ever. HUD families want to live in safe, clean homes too. Classism and elitism laid to rest.
This guy blew my mind like seriously life changing hopefully!!
One of the BEST podcasts I have seen on Bigger Pockets!! Great information. And, I like that he treats his tenants like people...successful business model, low tenant turnover, and a profitable business!!
This was a brilliant podcast. Joe is an excellent landlord and this brought so much value.
Tenants are people too (not spreadsheets entries). Love this podcast.
depends on the tenant, some are pigs!
Great content as usual. I've rented to section 8. Some were great tenants, a few were crappy. I learned so much about codes and housing laws. It's lucrative if your tenant screening is very selective.
How could anybody even thumbs down this. This is one of those videos that enhanced me and my life
Haters smh
I thought the same thing!!! This was on point!!
Incredible! I value all the BP Real Estate Podcasts ( I'm a BP fan!); but this one, blew my mind. I watched it 3 times, to make sure I own, what was taught. Turning 3 beds to 5, he is doing a Super Brrrr. He is really forcing appreciation, allowing himself to concentrate more on the right property & area and less on getting a deal.
The Section strategies- mind blown!
So thanks!
I’m on BP 3-4 hours daily. This My favorite BP episode (by far). The subject matter was incredible. Dr. Joe, thank you for sharing. See you at your workshop in DC
His customer service is admirable!! Love it
Episode is so good I had to listen to it twice! Very enlightening. I love how he takes care of his tenants.
This is unbelievable and so educational. The way he nurtures the relationship with his tenants to keep them happy and avoid turnover is genius.
I absolutely love how he manages his portfolio and treat his renters and his process!
This guest was amazing! He was knowledgeable, humble, and genuinely focused on taking care of renters instead of only worrying about his bottom line. Please have more guests like this, mind blown!
This is one of the best bigger pockets interviews I've heard. Great job! I'm in the DC area and hadn't heard of this investor, however I'll be bringing him deals soon.
Brendan I’m in the DC area, too. Please let me know.
I'm in DC also. Does anyone know the neighborhood he's doing the rehab in this video?
He’s a true “Go Giver”. This a dream biz model for someone like me.
Quality guest and genuine discussion; love the human aspect, you earned my sub
Amazing interview. Very grateful for this valuable information. Im in the DC area looking to become an investor. Will definitely lookout for Dr.Joe's next meetup. He's the real deal.a million thanks
Awesome interview. Inspired me to step up my game in terms of the management of my properties. Much respect.
Brandon & Joe thanks for sharing this! It’s awesome to see how other investors are successfully investing in different markets! Appreciate the content!
Yes, this video was one of the best I've seen. It kept me up until 2am this morning!!!!
He Blew Brandon's Mind!!!!!!
This man is BRILLIANT! He understands business and human relationships.
Heyyyyy guys it’s Sean from Smart Money Cafe. Me and the SMC community will watch this one a few times. An Excellent guest and excellent questions Guys!! 👍🏽
I LOVE THIS!!!!! Now that's a landlord!
This was such an inspiring video. My take away was the bit about adding value for the tenant. I will definitely do that from now on. The part about the timeshare and tenants having a weekend every year, blew my mind.
One of the best podcasts. This was great.
This section 8 housing concept is blowing my mind. Joe Asamoah is truly next level for real estate and landlord mindset. I love that he builds a relationship with his tenants and the rapport solidifies his investments. I love that he humanizes the tenant landlord process and experience. Thank you for sharing.
I love Joe's WIN-WIN Strategy. Look out for others and they in turn look out for you
Absolutely appreciated...the value in Joe's experiences are vital...I have and will take to heart giving mother's day and Christmas gifts to my tenants moving forward. Absolutely! Reciprocal responsibility!
1st time watching and I believe I just learned a decades of information in 1 hour and some change. Thank you for the interview, you have changed my life.
Being diligent about renant screening also is important in building good will among other homeowners in the neighborhood. They want people living next to them that are clean and respectful.
I have been doing section 8s for a few years and this guy has an amazing plan right now I have no higher end houses but watching this guy makes me want to use my houses I flip and move them into section 8 thanks for this interview
This is by far my favorite podcast.. a lot of great ideas.. also, I feel like joe is Canadian.
Amazing human being. Wow
top notch. I love the way Joe is doing his thing
This is the best episode i’ve heard so far. The value of this podcast is to hear different systems. His system is intuitive, unique, and profitable
Awesome interview! As a owner of 32 units, I’ll be incorporating some of these practices moving forward. Keep the videos coming! Bravo 👏🏽 👏🏽 👏🏽
I accidentally mirrored joe’s strategy when i recently bought in DC. i found a gem in a gentrifying neighborhood, rehabbed it from a 2 to 3 bedroom. stumbled upon section 8 applicants when i realised my zip code had a high fmv. thank you joe for your advice on how to keep my tenants happy. hearing this podcast gave me confidence to keep hunting and renting to section 8. DC is a tough market to find deals but they happen once in a while if you’re patient.
The only weakness to that strategy is it relies on govt subsidies but as that feeds many investors and provides housing for the needy neither party is likely to change it. Flawless victory
ThaRealERAQ so who pays the rent ? The government?
One of the best episodes I've ever seen on CZcams. Please keep interviewing such interesting and knowledgeable guests!
This method and approach is pure genius. Visiting a future tenants current home is a great idea. Giving Mother's Day flowers and gifts to kids who get Straight A's. Love it!
People don't relaize how powerful section 8 is. It's a goldmine💰💰
@Alana Weaver I'm not sure about your market but where I'm at, I'm able to get higher than normal rents normally about 20% higher with the potential of increasing it legally ofc every year.
james funk many races use section 8. Who’s racist?
@@jerbear7952 True Jeremy. No matter where you go, you will find section 8 housing. Most neighborhoods tend to self segregate, so your tenants may be of mostly one race or another, for each property. Though, a section 8 is definitely not a race thing. You'll find everyone using it, Asian, Hispanic, white, black, does not matter. What's better is that many section 8 people have government appointed financial managers that pay you for the space and not the people receiving the subsidies directly. In that case you are pretty much guaranteed payment.
James funk you don't have to be racist to not be a section 8 fan.. in my area a house that would rent for 600 would get about 375 and everyone has quit renting their houses to section 8 because they have ALWAYS trashed them. The wait list around here is a mile long because there is literally nobody that will rent to them.
Zack Howard which are is it ? Can you share ?
This is THE BEST podcast I’ve listened to EVER! Such an excellent caliber investor. His approach to investing and tenant relationship is amazing.
This was eye opening. I have a very upscale house I'm currently selling instead of renting because I thought it was to nice.
While you do that, take a HELOC on the equity to make a down payment on another property.
@@jeffg6924 - Already did and already got a new property
Unfortunately I live in CNY where appreciation is non-existent. However we have a high demand for 4+ bedrooms and handicap accessible. So it may be an opportunity to create more cashflow.
My mind is blown. This man's thought process is amazing.👍🏾🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾
Joe, you're the best!!! Awesome interview!
one of your best episodes, keep it coming
That was deep bro. By giving yourself a title you will subconsciously strive to become that!
Just when I'd thought that I'd seen every episode, this gem pops up. This was a GREAT show! I don't know how I missed it.
One of the better interviews - a lot of meat for this interview unlike others BP has had
Bigger Pockets is great! They definitely inspired the creation of my videos for investing in real estate and a podcast
He is an awesome investor, great at spreading the knowledge and what he does for tenants.
I love my tenants they manage my properties.
I was looking for more teaching material from Joe and discovered that he is a doctor. It blows my mind how humble he appears. I have a lot to learn from him....
This guy is the ultimate dream landlord. So happy to hear that there are landlords that take care of their less fortunate tenants
Awesome... TQ for sharing.
I learn how to appreciate and treasure existing customers.
Worth listening over and over again...
Easily one of my favorite episodes!!! Keep them coming!
Appreciation plays are smart/ safe way to go when your in recession proof markets like DC that is also in high demand.
This is single video has TOTALLY changed my view on rental properties and the tenants therein. I can't thank you enough as host(s) and guest.
Mr. Joe, you are a saint! Wow!!! What pride you have. You are an inspiration!!!
This guy is one of the smartest real estate investors ever. With that said we are paying for his tenants to live in nicer houses than most people do
This has probably been my favorite and most influential interview by far.
Here’s one thing - fundamentally isn’t the idea of section 8 to be temporary? So when we’re talking about tenants staying 15-20 years in the same property...isn’t that sort of working against the idea of people becoming self-sufficient?
Enabling people who are doing their best to have a peaceful and quality is home is what it’s about. No doubt the children that grow up in these homes are going to be better off and more productive citizens because of the better environment...
Wow!!! What an amazing interview!!!! If only I can find a mentor like Mr. Joe here in Florida.
Harvey hit me back. I am looking at a new investment in Tampa if your interested mfemfemfem@gmail.com
Watch the editing error around 25-36 min mark. David Greene asks the same question twice. Simply FYI
This was such a wonderful interview! That man is an absolute delight and I hope he continues to do great things! Thanks fellas!
*Real* *estate* *is* *my* *favorite* *way* *to* *invest* . Just keep in mind that if
you plan on purchasing a property to rehab and rent out, have about 20% of the
purchase price in reserves in case any surprises happen along the way. Cheers!
HE Has the 🔑🔑to GREAT💴💲INVESTING
👌🏾🔥👌🏾🔥👌🏾🔥👌🏾👌🏾🔥👌🏾🔥👌🏾🔥👌🏾
I wish I had heard this when I was considering landlording few yrs ago. This is great!
A great Podcast I will be listening to it over and over again and taking notes thank you
One of the best guest yet!!!
Great podcast one of my favorites
This guest is such an inspiration for putting hearts in the numbers without loosing track of the path. I loved this episode!
What a great podcast, he was dropping gems...
i love this interview and this approach. I never considered the recession proof of Section 8 voucher program.I love the idea of building a long term relationship with renters. There are good tenants in every income bracket
One of my very BEST of your podcasts! He is a MAster at being Landlord. Taking some lessons here
This is the most phenomenal episode I have watched on this show! This man dropped alot of Gems💎💎💎
Definitely one of the best I've listened to on bigger pockets. He's doing great things for his community and not just himself. #nuggets
Wow, I sure am glad that I caught this show today! This guy Joe Asamoah has shared lots of win win tenant retention ideals and I like that his interviewing tenant process also includes visiting their home to evaluate their housekeeping and lifestyle.
wow I am so blown away as to how great Joe Asamoah treats people. This was so amazing to watch!
Thank yall for everything
A guy told me the same thing like a decade ago..He said Section 8. I was like WTF NO..He was like..Bro..Their rent is ALWAYS paid, guaranteed. I was like oooooooh shit...ur RIGHT! He was like F yea I am
This interview was excellent, goes back to great customer service. Where can I look up what sec8 pays for rentals.
Google "your city + housing authority rents" and see if you can find rents online. Or call your local housing authority and say "I'm interested in renting to Section 8 voucher holders. Where can I find the rents based on number of bedrooms?"
Very Informative Interview..He shared awesome tips on his RE investing model with Section 8 program and treating people with respect and providing a beautiful home.
I love the part where he talks about putting stainless steal in unit to compete with condos that dont sell. So true in dc
The more we give the more we receive! Thanks Joe.
This guy is a genius. I wish I had a mentor like him. It’s amazing how my plan aligns with the way he’s managing his property.👍🏽
One of my favorite episodes. This guy is great
Great episode!! No basements here in Santa Barbara 😒 it’s rare here also to find 3 plus bedrooms. 5 bedrooms that’s not a multimillion $ home is almost unheard of.
I’m here for ALL OF THIS!
This guy is brilliant. I'm the same type of landlord
Great video. Offer a top notch product that survives market cycles. Other CZcams videos just brag about how to go cheap and say tenants don't deserve good products
Very uplifting, educational, & motivational episode. Love it!
Married 25 years, two children and an all around outstanding person. What an inspiration!