In past episodes, we have talked about overnight success, and most importantly, that it doesn’t exist. Real success comes with effort and long hours of consistency, passion, and desire to achieve freedom and take control of your life. Our today’s guest knows perfectly what we mean: Dedric Polite is an entrepreneur and a 10-year real estate investor that started in this industry with a house hack. Stay with us in this Respect the Grind episode as Dedric tells us why the BRRRR Method is his favorite strategy to win in this game.
Years ago, young Dedric Polite purchased a triplex, lived in one unit and rented out the rest: by doing that, the other two rents paid his expenses and the property even appreciated significantly. Up until today, this property still generates a lot of cash flow to Polite. Today, he is the co-founder of Be Polite Properties, a company that owns and operates income-producing single-family, multi-family and commercial real estate. They focus on acquiring well-located properties around Boston, MA, North and South Carolina, and other metropolitan areas.
Walk with us in this new episode as we learn from Polite how to find potential property sellers, drive around your neighborhood and look for properties that are distressed. Plus, other amazing strategies to let owners know you are interested to find their properties and the power phone calls, letters and postcards. It’s never too late to go back to the classics, right? Discover how avoiding distractions and choosing knowledge will give you more satisfaction than procrastinating your life.
01:01 – The book that impacted Dedric’s life and his perspective on money.
02:18 – A brilliant start, a 10 year hiatus and an ambitious goal: Dedric’s real estate career.
19:32 – Why investing in coaching and training is a common practice among entrepreneurs.
12:07 – How smartly avoiding distractions and opting for knowledge will make you more successful.
13:25 – How Dedric got a 100,000 USD profit on a deal and all about the perks of being a wholesaler.
17:04 – The differences between wholesaling and virtual wholesaling and how to find colleagues who you can actually trust.
19:38 – What you can do today if you want to get started in real estate.
24:03 – Dedric’s Driving for Dollars Method: how to optimize your list.
28:41 – On Dedric’s inspiring wife, his money obsession and how he is teaching his kids to think like entrepreneurs.
37:37 – How lifesavers encourage people to quit, rather than to push through hard times.
Get connected with Dedric
Follow Dedric on Instagram
Check out the Be Polite Properties FaceBook Page
Subscribe to Dedric’s Youtube Channel
Check out Dedric’s Website
Rich Dad Poor Dad by Robert Kiyosaki
Never Split the Difference by Chris Voss
The 4-Hour Work Week by Timothy Ferriss
Thank you for listening to Respect The Grind with Stefan Aarnio. If you liked this show don’t forget to subscribe, share it with your friends, and leave a review on iTunes.