Chris Hsu, a West Point graduate and real estate entrepreneur, shares his inspiring journey from military life to mastering self-managed rental properties. He discusses how optimizing cash flow guides his investment strategies and why trust is crucial in building a support team. Hsu dives into the challenges of property management during the pandemic, detailing plumbing and roofing woes, while emphasizing the importance of a personal touch with real estate agents and property managers. His insights are invaluable for both novice and seasoned investors!
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First Rental
Chris Hsu's first real estate venture involved renting out his previous home after buying a new one.
This leveraged approach resulted in doubling his initial investment, sparking his interest in real estate.
volunteer_activism ADVICE
Self-Management
Self-managing properties can be more efficient and cost-effective than using property managers, especially with tools like Azibo.
Consider self-managing for longer-term rentals in good locations, as they often rent themselves.
volunteer_activism ADVICE
Finding an Agent
Find a trustworthy real estate agent who can connect you with reliable local contacts like inspectors and plumbers.
Plumbing issues are a major challenge in rental properties and should be thoroughly evaluated.
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In this podcast episode, Vikas Gupta interviews Chris Hsu, a West Point graduate, former army captain, and real estate entrepreneur. Hsu shares his journey into real estate and how he got hooked on it after buying his first rental property. He discusses his investment strategies, the importance of cash flow, and how he evaluates different markets based on cap rates and stability. Hsu also explains how he manages his properties, the challenges he's faced with plumbing and roofing issues, and why he prefers self-managing.The conversation also touches on the impact of the pandemic on the rental market, with Hsu sharing his thoughts on the rise in rents and the importance of optimizing cash flow during this time. He also talks about the importance of finding trustworthy team members, including real estate agents and property managers, and the benefits of having a personal relationship with them.Throughout the episode, Hsu shares his insights and experiences in real estate and offers valuable advice to anyone looking to get into the industry. Whether you're a seasoned real estate investor or just starting out, this episode provides a wealth of knowledge and practical tips to help you succeed in the world of real estate.## Takeaways- Self-managing rental properties can be more efficient and cost-effective, but it depends on the nature of the asset and whether or not you have the time.- Trust is key in finding reliable team members, including real estate agents and property managers.- A real estate investor should focus on cash flow rather than betting on appreciation in uncertain market conditions. Long-term, appreciation is much more attainable.- Plumbing and roofing issues can be major expenses and should be thoroughly evaluated before investing in a property. Inspection is important, as well as expecting 5-10% of the property cost in renovations.
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