Ep 97: A Real Estate Empire, Three Books on Real Estate and Making Family First with J Scott

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J Scott runs a real estate company based in Maryland.  He invests in several markets around the county and specializes in both rehabbing distressed houses and building new residential construction.   Along with his wife, J builds and renovates about 20-25 houses per year.  In addition, they consult, manage, stage, list and market properties for other investors, and spend as much time as possible speaking and providing free training at various investor groups and clubs around the country. J has also expanded his investing platform into mid-sized Multifamily Acquisitions! Listen in for more about the SWEET SPOT J has found in Multifamily Investing! GETTING STARTED: "My wife and I were in the corporate world for a very long time... when we first got together we were both working 80 hours a week. She was traveling three weeks a month and I was traveling two weeks a month for our jobs. And when we decided to get married we knew that that just wasn't sustainable. We both knew that we wanted to have kids ... It's not something we wanted for our family. So we just made the decision to quit our jobs, we were going to move back east to be closer to our families and we were going to figure out the next chapter of our lives. But it was going to be something that was going to gives us the flexibility to focus on our family and focus on each other and give us the freedom to do what we wanted when we wanted. That ultimately translated in to real estate for us. ON MENTORSHIP AND THE BUSINESS OF REAL ESTATE: My wife and I are both business people. For us Real Estate is a vehicle. Real Estate is no different than any other business where you are buying or selling assets... For us the challenge and the exciting part is the running of the business, the scaling the business, figuring out how to optimize the business. For us the MENTORSHIP mostly came from the business side. ... My wife was at E-Bay and I was at Microsoft. We both had a lot of great business mentors...

BOOKS WRITTEN: "The Book on Flipping Houses", contains more than 300 pages of detailed, step-by-step training perfect for both the complete newbie or seasoned pro looking to build a killer house flipping business. In "The Book on Estimating Rehab Costs", J Scott pulls back the curtain on the flipping process and shows you not only the cost ranges and details associated with each and every aspect of the flip, but also the framework and methodology for estimating rehab costs. "The Book on Negotiating Real Estate" - also by Mark Ferguson and Carol Scott. Aimed at real estate investors and agents at any level, this book not only covers all aspects of negotiating real estate deals, but also contains dozens of true-life stories that highlight how strong negotiation can result in more and better deals, as well as dialogue that will teach you what to say and how to say it, strengthening your ability to close profitable transactions. WORDS TO LIVE BY (And BIG WHY): "I am a big fan of priorities... KNOW WHY YOU ARE DOING WHAT YOU ARE DOING. We got into this business because we wanted to put FAMILY FIRST." HOW TO FIND J SCOTT www.123flip.com j@123flip.com

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