Ep. 73 How Joe Ramos Bought His First House at 21 Using His 401K and FHA Loan
Description
In this episode of the RE Social Podcast, hosts Andrew McCormick and Vince Rodriguez interview Joe Ramos, a real estate investor and the Director of Investor Relations at JSJR Asset Management LLC, about his inspiring journey in real estate investing.
Joe shares how he purchased his first house in 2008 using an FHA loan and his 401K, and emphasizes the importance of building a reliable team, overcoming financial hurdles, and learning from both successes and failures. He highlights strategic partnerships, creative financing, and the value of hard work and saving. Joe also dives into his experiences with flipping properties, out-of-state investments, and the significance of setting clear goals and taking calculated risks in real estate.
Tune in to discover more insights and practical advice from Joe. Listen now!
Key Takeaways
00:00:00 Who is Joe Ramos
00:03:36 Lessons from Early Investments
00:11:13 Challenges with City Regulations
00:17:49 The First House Purchase
00:19:04 Starting to Make Money
00:21:05 Tax Incentives
00:27:36 Building a Real Estate Team
00:30:21 FHA Loan Insights
00:34:26 The 401K Program
00:37:00 Out-of-State Investments
00:41:34 Leveraging Relationships
00:49:12 Expanding Real Estate Portfolio
00:50:53 Flip Business in Atlanta
00:51:24 Bringing Value as a Partner
00:54:18 Deal Analysis
00:58:43 Equity Partners vs. Lenders
00:59:45 Investing in Multiple Locations
01:07:40 Living Below Your Means
01:16:02 Surrounding Yourself with Visionaries
01:19:08 Connect with Joe
Resources and Links
Airbnb https://www.airbnb.com/
Big Bear https://www.bigbear.com/
Pad Split https://www.padsplit.com/
The 7 Habits of Highly Effective People by Stephen R. Covey https://a.co/d/04rO4bZe
Land Shark Financial Freedom Podcast https://podcasts.apple.com/us/podcast/land-shark-financial-freedom-podcast/id1605191209
Connect with Joe
https://www.instagram.com/so_cal_traveler/
https://www.instagram.com/thelandsharkpodcast/
https://www.linkedin.com/in/joe-ramos881/
https://www.youtube.com/@socaltraveler881
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