On today's episode of the Passive Wealth Principles podcast, Jake chats with Tommy Christy, founder of iLoveHouses.com, an asset acquisition platform. He has 20 years of experience in the buying, fixing, and selling of foreclosure properties. Having lived and worked through one of the most tumultuous housing markets, Tommy has a ton of experience that has enabled him to thrive in remote investing and buy box strategy. He is at his peak of buying three houses every month each year and operating across five different states, including California, Nevada, Florida, Montana, and Missouri.
During the episode, Tommy explains his background and how he originally got into purchasing distressed homes.
He offers some thoughts on the "buy box: concept: A tool used by real estate investors to determine the types of properties they want to purchase. The buy box is normally broken down into columns and details the criteria a property must meet to be considered for purchase.
Tommy also explains why he believes that the ability to operate in the distressed world and find returns is based on being nimble: How many know what they're doing and how many are accurately closing as fast as they claim.
Join Jake and Tommy for this fascinating discussion.
What You Will Learn in this Show:
- How Tommy first got into distressed investing.
- Why today’s market is not the same as yesterday.
- Why the people that are going to do well in this market are those that work like a husband-wife team.
- Some of the unusual things Tommy has found in houses he's bought.
- And so much more...