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393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman

393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman

FromBiggerPockets Real Estate Podcast


393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman

FromBiggerPockets Real Estate Podcast

ratings:
Length:
79 minutes
Released:
Jul 30, 2020
Format:
Podcast episode

Description

Real estate investing... old school!Rick Jarman (@realestateoldschool on Instagram) joins us today to share some of his hard-won wisdom from 44+ years as a flipper and landlord in Tuscaloosa, Alabama. And it's quite the journey, from cabinet maker and campus maintenance man to cigar-puffing 64-year-old social media influencer!In this episode you'll hear tales of up markets, down markets, losing it all, getting it all back... and a tornado that wiped out 20 of Rick's 100+ rental houses. He also takes us through his rules for tenant screening, explains why he favors 15-year mortgages, and paints a picture of what it's like to self-manage such a large portfolio of single family homes (with a team, of course).Give Rick a follow, and if you know someone who'd make a great guest on the BiggerPockets Real Estate Podcast send them over to biggerpockets.com/guest where they can apply to appear on the show.In This Episode We Cover:How Rick went from maintenance guy to owning 100+ propertiesSelling his truck to buy his first rental in 1981Investing lessons learned through 4 recessionsWhy his rentals saved him when his home building business failed in the late 90sLosing 20+ houses in a tornado in 2011Rick's tenant screening processWhy tenants' credit scores don't tell the whole storyWrapping 40+ houses into one loanWhy some investors "get bored with what works"And SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)BiggerPockets WebinarsCredit Score and FICO QuickbooksFacebook MarketplaceBiggerPockets BookstoreBiggerPockets Shirts and MugsMBA562 Guest Teacher: Brandon Turner- How to (Finally) Write a Wicked-Awesome Book in 100 Days or Less Check the full show notes here: http://biggerpockets.com/show393See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Jul 30, 2020
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.