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

BiggerPockets Business Podcast

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

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