#3 - BUYING & FINANCING RENTAL PROPERTIES & MANAGING CONTRACTORS WITH ARPAN PATEL
By Ricardo Rodriguez & Matthew Mesick
On episode #3 of the Profits Over Wages Podcast, we sit down and talk to Arpan Patel-an active real estate investor & real estate broker. We talked about what to do and what not to do on your first deal, how to create a rental portfolio, and how to find private investors on sites like Facebook and BiggerPockets.
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SHOW NOTES & LINKS
00:45 - How and when Arpan got started
04:50 - Burning your ships
07:35 - Arpan’s first deal
08:35 - On whether to start wholesaling first vs rehabbing and rentals
09:30 - Advice on getting started wholesaling
11:30 - Best type of deal to do first
19:45 - Working on historical district
21:15 - Advice to people getting started on their first rehab deal
23:30 - Getting multiple bids per trade
28:55 - BRRR strategy
33:20 - Arpan’s numbers when doing sfh rentals
37:18 - Leasing with the option to buy
41:40 - Screening possible tenants
44:10 - Who takes care of what repairs when doing a lease option
46:20 - Financing rental properties
48:30 - Structuring partnerships with lenders
49:10 - Finding private lender / partners on bigger pockets
54:42 - Biggest variable on rehab projects
57:42 - Finding investors on Facebook
59:28 - Finding deals
01:03:50 - Benefits of being a broker and an investor
01:06:16 - Arpan lays out a plan for people that want to get started in real estate investing from deal #1 to deal #10


Website:  Homewyse
Website:  BiggerPockets
Website: Optimus Capital
Website: Chicago REIA
GET IN TOUCH WITH ARPAN PATEL
Facebook: Arpan Patel
BiggerPockets Profile:  Arpan Patel
COMMENTS & QUESTIONS

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Questions? We’d love to hear from you, you can email us at support@profitsoverwages.co. We’ll also answer lightning-round questions from Facebook & Instagram if you use the hashtag #AskTheProfitsOverWagesPodcast.
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