583: Building Your “Passive Income Blueprint” Using the Right Real Estate Agent w/ Johnny Hoang

Mar 15, 2022

Johnny Hoang, a top-performing real estate agent from the David Greene Team, shares his extraordinary journey of closing $67M in home sales in just two years. He reveals the essential traits of great real estate agents and how they prioritize client success over commission. The conversation dives into common pitfalls for investors, like the 'kiss of death' in communication with agents, and actionable insights on building passive income through strategic investments. Hoang also highlights the value of mentorship and effective collaboration in real estate.

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ADVICE

Client Prioritization

Prioritize clients needing immediate housing.
Focus on those with expiring leases or job relocations.

ANECDOTE

Kiss of Death Client

A client with unrealistic expectations can be a "kiss of death".
Unrealistic expectations include low capital, high cash-on-cash return demands.

ADVICE

Finding an Honest Agent

Look for direct, data-driven realtors, not "yes men".
Test agents with slightly unrealistic scenarios to gauge honesty.

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The signs of a bad real estate agent aren’t very clear if you’re a new investor. But, after trial and error and a lot of deals done, you’ll be able to weed out the basic agents from the rockstar realtors. If you’re brand new to real estate investing, there’s no need to sort through ten agents just to find out what makes the good ones great. Today, we’re giving you a shortcut as we pick the brain of one of the top real estate agents in the San Francisco Bay Area, and the country!

Johnny Hoang just began his real estate agent journey only a short two years ago, but he’s been able to close on an astounding $67M in home sales despite having such a short time in the market. Even with things as hot as they are, that’s a very impressive number from any agent, let alone a rookie! Of course, it should come as no surprise that Johnny is a student of David Greene and works with David daily.

In today’s show, David and co-host Rob Abasolo break down what it means to be a great real estate agent. They walk through different scenarios and situations with Johnny so you, the listeners, come away knowledgeable of the difference between an agent who will help you grow your portfolio and an agent who purely wants a commission check.

In This Episode We Cover:

How top agents prioritize clients and what you need to do to get to the top of the list

The investor-client “kiss of death” and how to NOT talk to an experienced agent

The seven signs of a bad agent and when to steer clear of an agent who’s all talk

Finding the perfect investor-friendly agent that will diligently hunt down deals for you

House hacking and using owner-occupied loans to slowly build your wealth

What to expect (and not expect) your real estate agent to bring to the table

And So Much More!

Links from the Show

BiggerPockets Forums

BiggerPockets Youtube Channel

Quickly find a local, investor-friendly real estate agent who can help you find, analyze, and close your next deal using the Agent Finder

DavidGreene Team

Keller Williams Realty

Redfin

Zillow

David's BiggerPockets Profile

David's Youtube Channel

Rob's Tiktok

Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-583

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