Scaling Your REI Business Using Turnkey Rentals As The Exit Strategy with James Wachob

RealEstateInvesting.com Podcast: Real Estate Investing | Passive Investment | Investor Strategies

James Wachob has scaled his investing business in Memphis Tennessee to having 78 team members and is rehabbing well over 200 houses a year, along with doing new construction. His investing model is around providing turnkey rentals as well as doing some traditional wholesale deals and flips. On the turnkey & property management side, his company manages over 1700 rental units for some 500+ investors. He has built quite a large operation and there is a lot to be learned from what he has to say regardless of if you are a beginning investor or an experienced investor looking to scale your real estate investing business to the next level.

Key Takeaways

1. Focus on one area of real estate investing and take action. Beginners should avoid shiny object syndrome and taking on too many ways to invest at one time.
2. Place a dollar figure on one hour of work value for yourself, then, when you can afford it, hire-off to someone else everything that isn't worth your hourly rate.
3. Build that team because that team is the only thing which will make you scale!

Resources & Books Mentioned

• Book: What the Heck Is EOS? by Gino Wickman
• Book: Traction by Gino Wickman
• ListSource
• ListHub
• CallRail
• Zoom.us
• InvestorFuse
• Google Calendar
• G Suite

Topics Covered

• How James got his start in real estate investing.
• Cashing in on the downturn of 2008 by buying in-fill lots.
• Key strategies for buying lots in the right neighborhoods.
• How James saves money by systemizing & building new construction on a "fee basis".
• Why wholesalers are not sending him as many houses as before.
• How he has his team "driving for dollars".
• The strategies he uses for direct mail, where he gets his lists and what he mails.
• How leads get processed as they come in.
• Estimating repairs.
• How they present an offer to the seller and when.
• Deciding the exit strategy and why the year the house was built plays a key part in the decision.
• James' typical rehab budget.
• How and why James has three sets of pre-determined product selections.
• How James was able to scale the business.
• What his team structure looks like in his department.
• About using VAs (Virtual Assistants) when sourcing real estate deals.
• Types of software his company is using.
• James' advice on getting started in real estate investing.

Connect With James Wachob

• James' Company Page: ThinkMemphisRealEstate.com
• James on LinkedIn
• James on Facebook