Doing the right thing with 130 Section 8 Units - Andy Cairns
Stay Ready Real Estate Podcast · Emeka Ogbonna
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Show Notes
Andy Cairns, a real estate investor, shares his journey and insights in the industry. Starting in 2020, he acquired around 30 single-family homes, driven by the need to secure his retirement. With a portfolio of approximately 130 single-family properties, Andy discusses the challenges and benefits of managing single-family homes versus multifamily units. He highlights his work with women and children in facilities and his commitment to helping as many people as possible. Andy also shares experiences of managing multifamily units during the COVID-19 pandemic and the importance of finding the right Section 8 tenant. His strategy involves buying, fixing up, renting out, and refinancing properties, using the BRRR method. Challenges in finding good deals and the decision to self-manage properties are explored. Andy discusses developing an app to analyze deals but expresses concerns about liability. The conversation delves into real estate goals, integrity, and partnerships, emphasizing asset accumulation and learning from past mistakes.
Chapters
00:00 Introduction to the Stay Ready Real Estate Podcast
02:06 Andy Kearns' Current Portfolio
04:16 Finding the Right Section 8 Tenant
06:28 Developing an App for Underwriting and Analyzing Deals
08:52 Goals and End Game
10:52 The Challenges of Working in Real Estate
13:06 Wholesaling Distressed Properties
14:52 The Importance of Cash Flow and Equity
14:59 Crazy Experiences in the Real Estate World
15:01 Planning for Retirement with Passive Income
16:09 Recommended Books for Aspiring Investors
17:12 Using Assets to Pay for Liabilities
17:53 How to Reach Emeka
18:11 Raising Money for the Business
18:36 Introduction
18:39 Step 1: Visit the Local Housing Authority
19:22 Step 2: Networking at Real Estate Meetups
19:56 Step 3: Understanding the Local Market
20:26 Conclusion
Connect with Andy Cairns :
Website: https://www.skyefive.com/our-company/
Facebook: https://www.facebook.com/TheAndrewCairns
Instagram: https://www.instagram.com/theandrewcairns/
TikTok: https://www.tiktok.com/@theandrewcairns
Connect with Emeka Ogbonna:
Website: Gobonnaequity.com
Instagram: https://www.instagram.com/stayreadyrealestate/
Podcast: https://rss.com/podcasts/stayreadyrealestate/
LinkedIn: https://www.linkedin.com/in/emeka-ogbonna-481379164/
YouTube: https://youtube.com/playlist?list=PLIeAZ-rMMFqhE44gu23a0Tqo7a5xqemQD&si=81iIqKvKfCl05ktM
Spotify: https://open.spotify.com/show/7C5pv7sUSF0qEcotOmdElm