#15: Life Begins at Age 50 for Real Estate Investors with Bill Manassero
Aug 07, 2019
Bill Manaserro came off the mission field in Haiti to begin investing in multifamily property. After this interview, I bet he wishes he was back in Haiti. Let me just say that one of the two of us was incredibly irreverent. And it wasn't the Reverend. Be prepared for another laugh riot on the Multifamily Investing Podcast.
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Life Begins at Age 50 for Real Estate Investors with Bill Manassero
Most people think that you need to start early in your life to become a real estate investor... Bill didn't start his career until he was over 50. Bill received an inheritance check and didn't want to put it in the stock market because he felt it was volatile.
Bill decided to start looking at ways to invest in real estate. Bill found out about turnkey properties and purchased a duplex and two single-family homes. But Bill realized that he was making twice the amount with the duplex, but it was the same cost as the single-family homes. This was Bill's start into multifamily investing.
Bill found a 22-unit property in Indiana on... Loopnet and purchased it. He always had problems with property managers and with his new property, decided to live on-site for a month. Because Bill lived on the property, he was able to get to know the area and tenants very well. Bill says that he learned more about real estate investing when living on his property than at any other time. This was the official start to Bill's quest to owning 1,000 units in 6 years.
In this episode we also cover:
- Why it never hurts to make an offer
- Why the biggest lie in multifamily is the asking price
- How Bill reached out to a large company to find tenants
- Why Bill borrowed against his properties
- How he re-built his credit from scratch
Connect with Bill:
Links mentioned in the show:
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