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#25 - TOP REAL ESTATE INVESTOR IN THE COUNTRY - 1,000+ DEALS IN LESS THAN 10 YEARS WITH ANDREW HOLMES

By Ricardo Rodriguez & Matthew Mesick

On Episode #25 of the Profits Over Wages Podcast, we sit down with Andrew Holmes. Andrew is a real estate investor that has completed over 850 fix and flips and wholesale deals in the Chicagoland market. He also owns over 180 rental properties with a combined value of over $20 million. Andrew founded the Chicago REIA 3 years ago and has grown it to over 6,000 members and 12 locations making it the #1 REIA in the country. He also founded Chicago Cashflow & Chicago Flipping and has personally worked with and helped over 300 investors acquire rental portfolios surpassing over 2000 rentals combined. Lastly, Andrew has hosted his own radio show, Real Estate Live, on AM 560 The Answer for the last 6 years with a listener base of over 20,000. Andrew is a true entrepreneur at heart.

On this episode we talk about, the pros and cons of investing in single family vs multi-family rentals, why in real estate you must be paranoid in the short term but optimistic in the long term, and how Andrew has personally worked with over 300 investors in the Chicagoland market and helped them develop a portfolio of over 2,000 rentals.

If you are a current or aspiring real estate investor, this is a MUST listen. One of the top investors in country drops some serious knowledge

 
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SHOW NOTES

- About Andrew and his background as a Real Estate Agent
- Andrew talks about his start in the real estate investing world
- The 2-5-7 Model: 2 years 5 houses and get them paid off in 7 to 9 years
- How Andrew was able to finance deals during and/or right after the market crash when banks weren’t lending
- Growing pains from the first year of rehabbing properties
- Why in real estate you must be a short time paranoid but a long term optimistic
- Andrew’s main business today
- Why Andrew never touches money from rentals
- The growing pains from getting short terms loans for rehabs to long term loans to build a rental portfolio
- Why properties that don’t need a lot of work are the better quality deals, better real estate
- Focus on buying great real estate, you’re in the real estate investing business, you’re not in the rehabbing business, rehabbing is something you have to do to because you’re adding value
- Pros and cons on investing on single family rentals vs multi-family rentals
- Andrew talks about starting what today is the biggest REIA in the Chicagoland area with the 13 locations and 6,000 members
- Andrew Holmes’ Mastery Program and the kind of people he’s looking for
- Andrew’s philosophy “If you take care of real estate for 5 years, it will take care of you for life”
- Book: The Intelligent Investor
- Where Andrew gets his deals from and how many offers are going in per week
- Andrew’s radio show on AM radio which has been going on for 6 years now
- Andrew talks about 3 things that can go wrong doing a rehab project and if you do all 3, you’re done

QUESTION ROUND

- What do you wish you knew before you started?
- Why do you do what you do? What gets you through the tough times?
- What habits helped make you successful?
- What was the worst piece of advise that you ever got?
- How do you stay motivated?
- To what do you attribute your success?
- what is one thing that you find to be true that most people would disagree with?
- What are your thoughts on the Chicago real estate market?
- Do you have a favorite failure, is there one that set you up for a future success?

COMMENTS

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If you’d like Ricardo & Matthew to answer your question on the podcast, leave a voicemail at 847-999-4486

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 #AskTheProfitsPodcast.
 

PREVIOUS EPISODE

Release date: 03/26/2018

 

#24 - KEEPING IT REAL: HOW 10 YEARS OF HARD WORK MAKES YOU AN OVERNIGHT SUCCESS WITH NICK LIBERT

On this episode we talk about, goal setting and strategies on how to reach your goals, being a student of other successful people, and Nick talks about how he was able to take over Exit Realty during the dark days post market crash to the #1 Exit Realty office in the country.

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