225: Jack Gibson & Jeff Schechter | Investing In Turnkey Real Estate

 

Jack Gibson and Jeff Schechter, co-owners of High Return Real Estate and hosts of the of the High Return Real Estate Show talk to your host Travis Chappell about real estate investing. You’ll get practical tips about using real estate as an investment plan.

Here’s what Travis, Jack, and Jeff discuss in this episode:

  • Jack talks about his career path and how he ended up where he is today.
  • In network marketing, the first thing that gives you an immediate jumpstart in the business is your immediate network.
  • How Jack and Jeff met and became business partners.
  • How Jeff grew up and his background before meeting Jack.
  • The best way to prepare for an economic correction and what Jack and Jeff are currently doing.
  • You need to have cash reserves in a down market.
  • Buy for cash flow, have cash reserves, increase your knowledge, and deepen your connections in a down economy.
  • Jack talks about how the High Return Real Estate Business came about – he was sick of the stock market rollercoaster.
  • You can find an avenue in turnkey investing that makes it easy to establish passive income.
  • Before working with Jack, Jeff had sworn off real estate because of his negative experiences.
  • Being able to have a “done for you” solution in any niche is very powerful.
  • A brief synopsis on what a turnkey property is and how Jack and Jeff leverage that model.
  • Go to highreturnrealestate.com and look at the Properties page and the FAQ page.
  • About Jack and Jeff’s podcast show High Return Real Estate
  • Both who you know and what you know are important, but what you know is the most important.
  • You build up a network by keeping your work and getting people to know, like, and trust you.

The Random Round:

  • What profession other than your own do you think it would be fun to attempt?
    • Jeff: Rockstar
    • Jack: Professional Athlete
  • If you could sit on a park bench with anyone for an hour who would it be, and why?
    • Jeff: Albert Einstein
    • Jack: Abraham Lincoln
  • How do you like to consume content?
    • Jeff: Books
    • Jack: Podcasts and Audio Books
  • Give us a glimpse of your morning routine?
    • Jeff:
      • Get up early
      • Think of three things he’s grateful for
      • 10-minute exercise
      • Drink a ton of water
    • Jack:
      • Goes to the gym and works out for an hour.
  • What is something that you are not very good at?
    • Jeff: Most things tech related.
    • Jack: Golf
  • What is your go-to pump up song?
    • Jeff: We Are the Champions
    • Jack: Wake Me Up
  • What is one place where we can find you the most?
    • Jeff: Facebook
    • Jack: Facebook

3 Key Points:

  1. If you want to scale your business you have to massively grow a new network.
  2. In preparation for an economic downturn, buy those properties that will always have a solid renter base, not for appreciation.
  3. A turnkey property allows you to skip the prep work and start making money right away.

Tweetable Quotes:

  • “Personal development tells you that you need to become the type of person who can attract success.” -Jack
  • “Anytime you buy an investment, you’re not buying and praying. You’re buying because you know the immediate cash flow and ROI.” -Jeff
  • “If you don’t build a network, you’re looking for work.” -Jack
  • “The biggest challenge in knowing our business was not knowing who we could rely on.” -Jeff

Resources Mentioned:

 

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