BiggerPockets Real Estate Podcast

812: 17 Properties in 3 Years Thanks to “Non-Stop Rejection” w/Jason Lee

Aug 31, 2023

Jason Lee, a big earner despite a challenging upbringing, shares his journey from pre-med to successful real estate investor. He overcame setbacks and rejection, emphasizing the importance of learning and building wealth. They discuss childhood experiences, finding passion in real estate, maintaining perspective, and the challenges of investing in the San Diego market. Jason's story teaches the value of resilience, mentorship, and seizing opportunities.

01:04:12

Creator website

Episode guests

Jason Lee

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Rejection is a normal part of real estate investing, and perseverance is crucial for success

Finding off-market deals can lead to better opportunities and potential growth

Thoroughly vetting contractors and having written agreements can protect against scams and provide financial support to loved ones

Deep dives

Overcoming rejection and persistence in real estate

The podcast episode discusses the importance of not taking rejection personally when starting out in real estate. It emphasizes that every investor faces rejection and that it is a normal part of the game. The speaker shares their personal experience of making thousands of cold calls before finding success, highlighting the need for perseverance and resilience in the face of rejection. They also mention the significance of finding a good sales trainer and learning the necessary skills to become an expert in the market. Overall, the main idea is to focus on the long-term goals and not let initial rejection discourage you.

Introduction

2min

Overcoming Setbacks and the Importance of Learning

9min

Childhood experiences, giving back, and college expectations

3min

Finding Passion in Real Estate

19min

Maintaining Perspective and Building a Pipeline

5min

The Challenges and Rewards of Investing in San Diego Real Estate

12min

Learning from a Contractor Scam

15min

Casual Banter, Real Estate Companies, and Social Media Naming Mishaps

4min

Jason Lee owns more rental properties than most full-time real estate investors. But, he didn’t do this by investing after the last housing crash, inheriting millions from his parents, or buying a hundred-unit apartment building at once. Actually, Jason seemed like the least likely person to end up as a big earner. He was raised in a household where finances were a constant source of contention, and he only went to college to play sports.

Jason’s parents gave him one choice: become a doctor, lawyer, or other high-skilled professional, so he wouldn’t have to struggle like they did. After scraping through pre-med classes, living in the library, and dedicating all his time to school, he thought what every real estate investor thinks, “Maybe this isn’t the right path.” After having a sudden mental breakthrough, Jason knew he couldn’t continue. So what did he do instead? Real estate.

He was working (for free) four days a week and going to school two just to level up his skills so that he could finally do what he loved when he graduated. His first deal almost blew up, he almost quit, and he got six figures stolen from him, but Jason is now back on top, only three years after graduating, with a portfolio in the eight figures. How’d he do it so fast? Stick around and find out.

In This Episode We Cover

Quitting a (potential) career to focus on what will REALLY build your wealth

How non-stop rejection allowed Jason to become one of the most successful brokers/investors in his area

Why working for free has a far higher ROI than most college students think

Investing in an expensive market and why “cash flow” doesn’t matter

How to NOT get scammed by a contractor and signs yours is stealing money

Jason’s “formula for underwriting” and what he looks at most when doing deals

And So Much More!

Links from the Show

Find an Agent

Find a Lender

BiggerPockets Youtube Channel