Manage episode 288512255 series 2505440
You’ve probably heard of The Breakfast Club, the morning radio show in over 90 markets that covers everything from hip hop culture, to celebrity gossip, to politics and more. If you've listened, you may recognize DJ Envy’s voice. He’s here today with his partner Cesar Pina, to talk real estate, seminars, and business.
DJ Envy grew up in Queens, New York, and was neighbors with a successful DJ. After he heard how much money DJs were making in the city, he decided to start DJ-ing himself, and began releasing mixtapes. As his success grew, he started working for a radio station and landed a morning show, which later became known as The Breakfast Club.
After buying his first house and later selling it due to a long commute, Envy walked away with around $80,000. He was hooked, and knew that real estate was a long-term way for him to build his wealth and create success for him and his family. He started out buying a house every year and selling it a year later, then bought some homes in Detroit for $15,000 that sold for over $260,000! Envy wanted to get more into real estate, so he was introduced to Cesar.
Cesar was serving time in prison when he first learnt about real estate investing. Once he was released, he decided to jump in. He bought single family homes, then small multifamily homes, then went on to commercial buildings. Now, heowns more than 1,600 units and flips anywhere from 60 to 80 houses per year! His new book, Flipping Keys, comes out later this month.
Cesar and Envy became an unstoppable duo, and now they're teaching others how they too can buy rentals and flip houses. They see this as a way to serve their community and let those who may be unaware of real estate investing have a chance at success and financial freedom.
In This Episode We Cover:
- How DJ Envy started buying and flipping homes
- Buying homes under market value to make high profits
- Why house hacking is the best way to get started in real estate
- Buying in Detroit during the early days of the recession
- How to use other people’s money (OPM) to fund your deals
- Why most real estate seminars take more than they give to attendees
- And So Much More!
Links from the Show
- BiggerPockets Podcast
- BiggerPockets book store
- Brandon's Instagram
- David's Instagram
- Grant Cardone on Multifamily Investing and Why You Should Never Buy a House!
Click here to check the full show notes: https://www.biggerpockets.com/show455