Ep. 74 How We Made $1 Million Property Deal in the Most Unexpected City
Description
In this episode of the RE Social Podcast, hosts Andrew McCormick and Vince Rodriguez talk about how they made $1 million in real estate from Bakersfield, a city that many overlooked!
They share stories about buying and selling properties, including a key deal at 713 Iris Bakersfield. They discuss the challenges they faced, how government policies, market changes, and inflation affected their investments. They also explain the importance of having the right partners, taking smart risks, and managing cash flow and property value.
Tune in now to learn some tips on achieving this success and the hard work needed to get there!
Key Takeaways
00:00:00 $1 Million Out of a Ridiculed City
00:01:56 Property Investment Journey
00:04:12 Challenges and Learning Experiences
00:07:02 Reason for Investing in Bakersfield
00:13:27 Profits and Property Management
00:16:01 Selling and Buying in Orange County
00:20:35 Managing Properties in Different Areas
00:23:48 Balancing Cash Flow and Appreciation
00:32:40 Risk Tolerance in Investments
00:35:20 Work-Life Balance and Passion
00:36:22 Passive Income and Investment Options
00:39:35 Starting Small and Partnering
00:41:25 Coaching and Personal Growth
Resources and Links
Keller Williams https://www.kw.com/
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