We Both Cashed Out Our 401ks to Buy A 32-Unit Apartment Building | Shawn DiMartile E140

Rich brings on his old business partner, Shawn DiMartile - Real Estate Investor, Host of The Real Estate Takeoff Podcast, Co-Founder of Takeoff Capital, Author of California Gold, and US Navy Veteran. Before cashing out his 401k to get his start in real estate, Shawn worked as an Air Traffic Controller for 6 years and before that he was a Navy Controller. He now owns over 300 rental units, $50 million in real estate, and his podcast, The Real Estate Takeoff, has over 200,000 downloads. 
 

Rich and Shawn start off by discussing a recent rain storm in San Diego, how they met each other and got into the real estate game, their first deal: a 32-unit property in Indianapolis, what Shawn and Mike Tighe (his business partner) are currently focused on, Bonus ADUs in San Diego, being bullish on San Diego and ADUs, current market trends, landlord tenant laws, investing in San Diego, the synergy Shawn and Rich still have, the top ten states with high income taxes, and property insurance.

They then reflect on cashing out their 401ks, Shawn’s new book “California Gold,” the stress of working as an Air Traffic Controller (ATC), the dangers of working graveyard shifts, the craziest stories they had as ATCs, Mike Tighe’s piloting skills, whether you can actually retire off of a 401k, the evergreen cashflow of real estate, the government profiting off of 401ks, and S&P Index Funds.
 
Lastly, Rich and Shawn talk about the trains of San Diego, what Shawn and Mike started focusing on after Rich left the partnership, a deep dive into Bonus ADUs, Takeoff Capital’s 10-unit Ocean Beach apartment complex,  Takeofff Capital’s deal in Pacific Beach, appealable and non-appealable coastal zones, Rich’s new 3-Story ADU in Little Italy, underground parking for apartment complexes, third party property management, their 32-unit property in Indianapolis, listing vacancies on Craigslist and Facebook Marketplace, Tenants in Common, and then reflect on the last 5 years of success in real estate.

Connect with Shawn on Instagram: @shawn_dimartile

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