Aaron Fragnito - Crazy Sh*t In Real Estate with Leigh Brown - Episode #166

I’m sorry, did you say Sunset Avenue or Gun-set Avenue? Aaron
Fragnito, founder of Peoples Capital Group and successful real
estate investor, gives us the nitty-gritty truth about being a
landlord. Tune in as he shares about his greatest challenges,
biggest shocks, and most valuable lessons that have shaped the
way he runs his business today. 


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Time Stamped Show Notes:


00:45 – Introducing Aaron, a real estate investor

01:30 – On being a landlord

01:45 – It’s not as easy as you’d think; Section 8 annual
inspections, the neighborhood, and difficult tenants can make it
hard to get an income from the property

03:15 – You need to pick and choose your tenants to fit what
you want

03:45 – What he looks for in a tenant and why

04:00 – Credit checks and checks on evictions are a good
place to start; interview them, see how they speak, and notice
how they take care of their car

05:22 – He had a bad experience with a tenant who didn’t take
care of the property; he visited and it looked like a third-world
country, they were living so poorly

06:50 – His property manager walks through each unit every
6-8 months now

07:47 – They ended up selling the building; they were unable
to evict the tenants

12:20 – On vetting your tenants and using property managers

12:42 – If you interview your tenants well, you’ll profit
more and have a better experience as a landlord

13:25 – His partner does a 30-second walk-through of their
current home as part of the interview process

14:00 – Aaron’s piece of advice: Diversify

14:38 – They buy an apartment building every quarter and have
tons of syndications; they’ve cracked the code to profit in their
area

15:20 – Get out there, meet people, ask questions, and
connect

16:45 – How to contact Aaron: peoplescapitalgroup.com



3 Key Points


Being a landlord isn’t always as easy as it seems.

Vet your tenants!

Connect with others to learn, partner, and connect.



Credits


Audio Production by Chris Mottram

Show Notes provided by Melissa Valder