Today's Guest: Chris Logan
I am excited to have my friend and fellow investor, Chris, on the show today! He is a super smart investor that is passionate about teaching people how to invest outside of their home market.
Highlights From The Show:
We start the interview as we always do by getting some of Chris’ background and how he got started in real estate investing. He was introduced to real estate (like so many others) by reading Rich Dad Poor Dad and then signed up for an investing course with his wife, Heather. They began their business by wholesaling properties and Chris said during that time they tried fix and flipping, but that strategy did not appeal to them. They built their wholesaling business into a 7 figure business and wanted to focus on the one thing that they were really good at.
We then discuss wholesaling in markets other than where one lives, which is what Chris primarily does. He said when he is picking a new market, he looks at the population and median home prices. I asked him what specifically he is looking at regarding the population and he said they look for a population between 250,000 and 500,000 people because you know that many houses will be bought and sold and also that it is an area that people want to be in. Chris also recommends using the power of local Facebook groups to build your buyers list and network.
Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Chris Logan to learn the ins and outs of virtual wholesaling!
Notable Quotes:
“You are just going to drop value, I know it.”
“Rich Dad Poor Dad is like the gateway drug for real estate investing.”
“Flipping is more of a construction business and wholesaling is a sales and marketing business.”
“I am not the biggest fan of flipping, either. I get burned out with the contractor situation.”
“It is not like you take a wholesaling course and then money starts falling from the sky.”
“We don’t start investing in a market because we want to be there - we follow the money.”
“I like starting in an area where I have a runway to scale.”
“I think you should build your buyers list before you market for sellers, especially if you are a brand new investor.”
“Massive and perfect action is what you want to focus on.”
“Our mentality is ‘keep it small, keep it all.’”
“Let’s do deals together!”
“Massive action is the cure for most things.”
Thank You for Listening!
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Resources and Links From Today's Show:
Rich Dad Poor Dad
The ONE Thing
Mailchimp
Aweber
PropStream
Chris on Facebook
Virtual Wholesaling Made Simple
Mike on Facebook
More Resources From Mike:
