Everything Joe Fairless said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Fairless: Multifamily apartment repairs average $250 to $300 per unit annually
“I mean, on average, you're going to look at about 250 to 300 dollars per unit per year.”
Fairless: Multifamily syndicators charge 1-3% acquisition and 0.5-2% management fees
“Generally speaking, when you do, it's called multifamily syndication. And you know, there, there's multiple ways to do it, but generally the three main ways are one is acquisition fee and I'll get specific in a second. I just want to stay at a high level. One …”
Fairless: Retained 12.98% equity worth nearly $200K on first apartment deal
“And then on the ownership, I have 12.98% Ownership, which when you factor in the net worth, now cashflow standpoint doesn't mean anything until you actually sell it. But the net worth, you know, with the, with equity, it's valued almost around 200,000 dollars.”
Fairless: $5K per unit renovation yielded $75 rent bump, 20%+ return
“In the case of the last two deals, we put in 5000 dollars a unit, raise rents about 75 bucks and make over a 20% return on that.”
Fairless: 168-unit Cincinnati apartment complex had $105K monthly gross potential rent
“When you add up all the rents, 105,000 dollars. That, that would be gross potential income.”
Fairless: Master lease avoided nearly $1M prepayment penalty on 6.19% loan
“We did a master lease with option to purchase because there's a large prepayment penalty on the property. And you know, upwards to almost a million dollars. And the loan wasn't very desirable to assume because it was 6.19%.”
Fairless raised over $800K in equity from his podcast audience
“I've raised over 800,000 dollars from investors who just know me through the podcast.”
Fairless left a $150K base salary ad agency role for entrepreneurship
“So base salary of 150,000 dollars, not including bonus, which probably would have been, I don't know, 10 to 20,000.”
Fairless: Early single-family rentals yielded roughly $200 monthly profit each
“I had purchased my first house in 2009 and then my second one, third, fourth. So I ended up having four houses at that point between 2009 and like 2012 or so. And what I realized by purchasing the houses is that I was making like, you know, 200 bucks a month. …”
Fairless: Commercial property managers typically charge 4% to 5% of collected revenue
“With commercial stuff, yeah, you pay about four to five percent of the money that they bring in every month or gets collected every month.”
Fairless: Daily podcast generates $5K in monthly sponsorship revenue
“I probably make, you know, it varies every month, but probably around, I bring in probably on average, 5000 and then, you know, minus say 2500 to 3000 in cost depending on the month.
So probably a couple thousand dollars a month.”
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