18 Deals in 2 Years AND a Full Time Job with Kevin Christensen | Rookie Podcast 51

TL;DR

Kevin Christensen shares insights on juggling real estate, a full-time job, and personal growth.

Transcript

this is real estate rookie show number 51. i am ashley care and i am here with my co-host tony robinson and i don't even want to banter today because i just want to talk about our guest kevin so much good stuff like kevin he he's really active in the rookie facebook group so if you guys aren't in there you know facebook.com look her for the rookie ... Read More

Key Insights

• Kevin Christensen emphasizes the importance of confidence and genuine interactions in real estate negotiations, which helped him secure a significant deal by simply being nice to the sellers.
• He highlights the value of learning from mistakes, viewing them as experiences rather than failures, which has been crucial in his real estate journey.
• Kevin manages his properties with minimal time investment by using tools like Cozy for property management and Smartbnb for his short-term rentals.
• He stresses the importance of having a W-2 job for financial stability and better loan options, especially when starting in real estate investing.
• Kevin's approach to property renovations is to do them as if he were going to live there, which reduces future maintenance issues and enhances tenant satisfaction.
• His hiring of two full-time employees for property renovations was driven by the need for efficiency and quality, learned from previous challenges with contractors.
• Kevin's story of a subject-to deal gone wrong underlines the necessity of formalizing property transfers to avoid legal issues.
• Customer service is at the core of Kevin's business model, ensuring tenant satisfaction and positive reviews for his short-term rentals.

Questions & Answers

Q: How did Kevin start in real estate investing?

Kevin began his real estate journey by educating himself through podcasts, books, and online forums. He spent hundreds of hours learning about different strategies, which equipped him with the knowledge and confidence to pursue his first deals.

Q: What challenges did Kevin face with contractors?

Kevin faced significant challenges with contractors, as his worst financial and timeline outcomes were linked to projects managed by them. He found that many contractors did not meet his expectations, leading him to hire full-time employees to ensure quality and efficiency.

Q: How does Kevin manage his time between his job, retail stores, and real estate?

Kevin efficiently manages his time by using technology and setting clear priorities. He leverages tools like Cozy for property management and automates processes where possible, allowing him to balance his various responsibilities effectively.

Q: What is Kevin's approach to property renovations?

Kevin renovates properties as if he were going to live in them, focusing on quality to minimize future maintenance. This approach ensures tenant satisfaction and reduces long-term costs, aligning with his strategy of holding properties for passive income.

Q: How did Kevin handle a lawsuit related to a subject-to deal?

Kevin faced a lawsuit due to a lack of formal property transfer in a subject-to deal. He successfully defended himself by proving his adherence to the contract and learned the importance of formalizing property transfers to avoid legal issues.

Q: What role does customer service play in Kevin's business?

Customer service is central to Kevin's business model. He believes in treating tenants and guests with respect and addressing issues promptly, which has led to positive reviews and repeat business in his short-term rental ventures.

Q: How does Kevin view the relationship between mistakes and learning?

Kevin views mistakes as learning opportunities rather than failures. He emphasizes the importance of adapting and overcoming challenges, which has been a guiding principle in his real estate career, helping him grow and succeed.

Q: What advice does Kevin have for new investors about quitting their jobs?

Kevin advises new investors to maintain their W-2 jobs until they have established a stable and sustainable real estate business. Having a steady income provides financial security and better loan options, which are crucial in the early stages of investing.

Summary & Key Takeaways

• Kevin Christensen, a real estate investor with a full-time job and retail stores, shares his journey of completing 18 deals in two years. His success is attributed to a strong work ethic, confidence, and a focus on customer service.

• Kevin discusses the importance of learning from mistakes and treating them as experiences. He emphasizes the need for confidence in negotiations and the value of genuine interactions with sellers.

• He shares insights on managing properties efficiently using tools like Cozy and Smartbnb, and highlights the importance of maintaining a W-2 job for financial stability in the early stages of real estate investing.