498: Real Deal: BRRRR Deep Dive w/ Joe Asamoah (Pt 1)
When most people think about section 8 housing, they think of run-down homes, troublesome tenants, and negligent landlords. This stereotype may prove true in some markets, but for Dr. Joe Asamoah, this is far from reality.
Joe has built his real estate portfolio by renovating homes to an incredibly high standard, situated in some of the best neighborhoods in the DC market, and all while under section 8 housing. Joe figured out early on that section 8 housing authorities gave much more rent money for houses with 5 bedrooms and up, so he started renovating to match the rent section 8 could provide him. This not only allows him to take home a sizable profit, but score tenants who will respect his homes as their own, and stay there for 15 to 20 years minimum. This is no joke, Joe has tenants who have been with him for two decades!
You’ll see a deep dive of Joe’s latest property in today’s episode, complete with pictures, videos, and other helpful visuals. If you’re only listening to this podcast, we’d highly recommend checking out the video version over on the BiggerPockets Youtube channel!
In This Episode We Cover:
What the “Big City BRRRR” strategy entails
How to control tenant turnover so you have ZERO vacancy
Using section 8 to take in higher rents
How to create a top tier product that attracts top tier tenants
Becoming the best landlord a tenant could ask for
Adding bedrooms, bathrooms, and getting permits for everything in between
And So Much More!
Links from the Show
Check the full show notes here: https://www.biggerpockets.com/show498
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