Episode Details

Doing the right thing with 130 Section 8 Units - Andy Cairns

Season 1 Episode 21 Published 2 years, 3 months ago

Description

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