Show notes
What do you do when you take over managing a 32-unity property where the landlord collects rent with a gun behind his back? Join Sam and Lucas as they recount the wild story of how they were able to eventually own a derelict building with knife marks in the drywalls and water bubbles in the ceiling.
First, they fixed it, then they bought it, then they re-financed it – and now they’re sitting with a multi-family accommodation asset that sits at well above market value. Learn to do the right thing as a landlord, and you can secure your long-term financial security too!
We’re giving away 2, all-inclusive sets of tickets for a full day and night with us worth $10-20,000! Get the chance to fly from anywhere in the country to our office in St. Louis and spend the entire day with us, plus a little dinner on the side, before we fly you back the next day. Enter to win here
“If you are in real estate, or you want to get into real estate, you have a choice. You can either be a slum landlord or a good landlord. If you do the right thing you can have pride in ownership – and you’re going to make more money. If you get better tenants in and take better care of your property, you’re going to make more money in the long run because tenants aren’t going to move out.” ~ Sam Primm
In this Episode:
- Why Lucas calls real estate “feel estate”
- Why getting creative with utilizing private lenders is sometimes your only option
- The blow-by-blow account of how to turn a slumlord situation into creating community in a multi-family building
- Why offering your tenants a bit of a deal (5%-10% discount on rent compared to similar areas) makes smart business sense
- How multi-family investing can set you up in the long run for financial stability
Connect with Sam and Lucas:
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- YouTube
- TikTok
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