Business
Many new investors find excuses for why they can’t buy properties. Either they don’t have the money, the deals, or the experience. Our guest today, Jon Wooten, had none of these three, but found a way to acquire 18 units (and become financially free) in only a few years.By asking questions and sticking out to the local real estate investors, Jon was able to acquire valuable experience, all while gaining equity in his rental properties. Jon has his own method for finding deals and acquiring wealth, called the “Sunflower Method”, which has helped him get to the point he is at.Now, financially free at 28, Jon has the ability to choose whether he wants to work, which projects to go after, and how he wants to spend his time. This isn’t a far away goal that only the rich and well connected can get to, it’s available for all real estate investors!You may be working a minimum wage job, stuck in a career you want out of, or have debt. Jon shows that all of these can’t stop you from acquiring wealth!How do you find houses? How do you find a mentor? What’s the best way to find a quality handyman? How can you make sure a house is being inspected properly. All these questions and more are answered in this episode!In This Episode We Cover:How to find a mentor AND get your first rentalWhy you should make it an effort to get to know your local real estate investors Why self-managing is a great way to gain experienceHow to get seller financing on a rental (and who to ask for it)Why you should call “for rent” signsWhat the “Sunflower Method” is and how it builds wealthThe best way to find a quality (and inexpensive) handyman Fake cash flow vs Pure cash flowHow to properly inspect a house before you make an offerAnd SO much more!Links from the ShowBiggerPockets ForumsDavid's InstagramBrandon's InstagramBiggerPockets PodcastBiggerPockets StoreBiggerPockets Podcast 050: Getting Started and No Money Down House Flipping with Mike SimmonsBiggerPockets Podcast 200: A Step-by-Step Guide to Buying Your First Real Estate InvestmentBiggerPockets Podcast 180: 58 Deals by Age Twenty-Three with Devan McClishBiggerPockets Podcast 355: From Small-Time Landlord to 1,000+ Units Under Contract with Ryan “The Mercenary” MurdockOpen Door CapitalTony RobbinsCheck the full show notes here: https://www.biggerpockets.com/show426