August 22, 2018

Episode 17: Passive Investing With Jim Pfeifer

Podcast Page Episode 17

In this episode, Brian and John welcome their first ever guest, Jim Pfeifer, to the show. Jim is a financial advisor by profession but invests passively in real estate by using property managers to help him oversee and manage his properties. Today, he shares with us his experience in rental properties, both single and multi-family home units, how he works with property managers, and how turnkey properties give him good income.

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This Episode is Sponsored by

Core Rentals Logo

Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit today to have the day-to-day operations of your rental property handled by professionals.

Covered Topics:

  • About Jim’s Real Estate Background
  • Rental Properties
  • Cash Flow vs Appreciation
  • Multi-family Homes
  • Losing/Making Money
  • Dealing with Property Managers
  • Turnkey Properties

Show Notes:

00:50 – Started managing properties for people

01:34 – Welcoming our first guest, Jim Pfeifer

02:32 – How Jim started in real estate

     - Background in finance in an insurance company

     - 12 years later, he left the job and taught accounting

     - Now he’s into financial advising and investing in real estate

03:29 – Welcoming his son and the 2008 crash

     - Moved into a new house and had the old one rented out

04:12 – Buying 2 single-family homes in 2014 — the beginning of his portfolio

05:44 – More about Jim’s rental properties

     - His realtor/property manager helped get both homes at a good price

08:54 – Go for cash flow first

     - Don’t bank on appreciation

09:58 – Do an initial analysis of properties

     - Make sure you get the numbers you projected

10:25 – Getting into multi-family homes

     - Jim purchased a 22-unit multi-family home and an 8-unit MF home

12:06 – Jim talks about his frustration in his 22-unit property

14:23 – Not foreseeing the process

15:36 – Losing and making money at the same time

17:33 – Dealing with property manager

19:48 – Turnkey Properties

     - Jim learned about turnkey by listening to podcasts

24:43 – Financing — personal and lending

26:17 – Buying distant properties and trusting property managers

28:23 – Look for people who communicate well and clear

29:47 – Biggerpockets

30:37 – Jim’s goal in real estate: build wealth through passive income

33:29 – Do your research on real estate investing

Topic Takeaways

  • When buying properties, always go for cash flow first.
  • Always do an initial analysis of the properties you’re buying and look at them later to see if you’re hitting the projections you’ve set.
  • Work with property managers who keep the lines of communication open.

Tweetable Quotes

“I really believe in real estate now more than ever.” (Tweet This!)

“We go for cash flow first. We don’t bank on appreciation.” (Tweet This!)

Brian Rightler John Horner Core Developements

Welcome to the Take Action Real Estate Podcast! 

Our hosts, Brian and John, created Take Action Real Estate: the website, podcast, and blogs to help YOU. We want to share our experiences and knowledge and help you get started without making the same mistakes we did.

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