Episode 05: How to Make Money in Real Estate

In this episode, you'll hear how hosts Jerry Weaver and Jacobe Kendrick got into real estate, and some of the avenues that you can take if you want to take advantage of the real estate space. They discuss the importance of defining what you want so you can determine the right path for you.

 

Episode Highlights: 

• The real estate space is full of opportunities.
• Jerry shares the story of how he started in real estate. In February 2013 he took the course and got his license. He landed his first transaction within minutes of licensure.
• Jacobe shares the story of how he started in real estate. His journey started because of his desire for passive income.
• Getting into real estate gave Jacobe the opportunity to be creative and to help people in ways he never had before, while being compensated.
• Everybody is interested in real estate. If someone doesn't own a home, they've probably thought about it.
• There are other ways to get into real estate aside from getting your license.
• When you do get your license, it can be intimidating knowing where to start.
• Take time to really define what it is you want to do.
• You can get your real estate license in 30 days. If you know someone looking to buy or sell, you can send referrals even while you're doing another job.
• There are agents out there that never sell any houses, they just refer.
• Jerry is now trying to build a team to help other agents who don't want to be on their own.
• You can find a team that aligns with what you want to do.
• Showing houses is only one part of what you do as a real estate agent.
• Jerry transitioned from realtor to investor over two years ago. He was surprised to learn that 50% of properties sold don't go through an agent. 
• As an investor, the three major paths are wholesaling, becoming a landlord, and flipping houses.
• Jerry and Jacobe share their go-to resources for people starting out in real estate.
• They've both found a lot of value in having a good coach. There are many coaches in the real estate space.
• During the “Time to Invest” segment Jacobe educates us on making our money during the purchase. 
• The most important time to make your money is in the initial phase of when you're purchasing the property.
• Investors always buy at a discount.
• Always begin with the end in mind.

3 Key Points:

1.   There are many paths to success in real estate. 
2.   When you get your license, reflect on what you want to achieve as that will help you  determine your path.  
3.   Remember that investors always buy on a discount. You make your money when you purchase.  

Resources Mentioned:

• Jacobe Kendrick Facebook, LinkedIn, Instagram
• Jerry Weaver Facebook, LinkedIn, Instagram
• Jerry and Jacobe Podcast Facebook page
• Rich Dad Poor Dad (book)
• Think and Grow Rich (book)
• The E Myth (book)