393: Campus Maintenance Man to $10M in Real Estate Owned with Rick Jarman

2020-07-30

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Real estate investing... old school!Rick Jarman (@realestateoldschool on Instagram) joins us today to share some of his hard-won wisdom from 44+ years as a flipper and landlord in Tuscaloosa, Alabama. And it's quite the journey, from cabinet maker and campus maintenance man to cigar-puffing 64-year-old social media influencer!In this episode you'll hear tales of up markets, down markets, losing it all, getting it all back... and a tornado that wiped out 20 of Rick's 100+ rental houses. He also takes us through his...

Real estate investing... old school!

Rick Jarman (@realestateoldschool on Instagram) joins us today to share some of his hard-won wisdom from 44+ years as a flipper and landlord in Tuscaloosa, Alabama. And it's quite the journey, from cabinet maker and campus maintenance man to cigar-puffing 64-year-old social media influencer!

In this episode you'll hear tales of up markets, down markets, losing it all, getting it all back... and a tornado that wiped out 20 of Rick's 100+ rental houses. He also takes us through his rules for tenant screening, explains why he favors 15-year mortgages, and paints a picture of what it's like to self-manage such a large portfolio of single family homes (with a team, of course).

Give Rick a follow, and if you know someone who'd make a great guest on the BiggerPockets Real Estate Podcast send them over to biggerpockets.com/guest where they can apply to appear on the show.

In This Episode We Cover:

How Rick went from maintenance guy to owning 100+ properties
Selling his truck to buy his first rental in 1981
Investing lessons learned through 4 recessions
Why his rentals saved him when his home building business failed in the late 90s
Losing 20+ houses in a tornado in 2011
Rick's tenant screening process
Why tenants' credit scores don't tell the whole story
Wrapping 40+ houses into one loan
Why some investors "get bored with what works"
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Podcast
BiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)
BiggerPockets Webinars
Credit Score and FICO
Quickbooks
Facebook Marketplace
BiggerPockets Bookstore
BiggerPockets Shirts and Mugs
MBA562 Guest Teacher: Brandon Turner- How to (Finally) Write a Wicked-Awesome Book in 100 Days or Less

Check the full show notes here: http://biggerpockets.com/show393

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