Episode 338: Building Wealth Through Rental Properties with Joel Miller

·49 min·4 clips

A mobile DJ who became a real estate investor and hard money lender shares how he built wealth over 47 years.

Corey Kupfer hosts Joel Miller on the DealQuest Podcast to explore real estate investing and deal-driven growth. Miller shares his background, starting with childhood influences from a paper route and a pirate radio station that led to careers in mobile DJing and real estate. He bought his first rental property in 1978, a two-unit he converted to three units, which he still owns 47 years later. Miller managed 5,051 DJ appearances over 35 years while investing in real estate, eventually retiring from DJing in 2011. He describes a major mistake with a commercial property partnership where anchor tenants went bankrupt, causing a 10-year struggle and teaching him to avoid commercial real estate. Miller wrote a book during the pandemic, motivated by his son, titled 'Build Real Estate Wealth, Enjoy the Journey of Rental Property Investment,' which includes over 150 checklists and covers mindset, entity formation, and tenant selection. He transitioned into hard money lending in 2018, lending 100% of purchase and rehab costs to investors, emphasizing speed and cash offers. Miller explains that hard money costs are often offset by lower property prices due to quick closings. He advises networking in local investor groups to find deals and lenders. The episode concludes with Miller defining freedom as the ability to choose how to spend time while maintaining relationships, highlighting his preference for relationships over money.

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