Oct 11 2023 45 mins
About The Guest(s):
David Johanson is an entrepreneur and real estate investor based in Fargo, North Dakota. He has started, purchased, operated, and sold multiple businesses throughout his career. Currently, he and his wife own and operate three companies: Daybreak Properties, a real estate holding company; Daybreak Property Management; and Daybreak Property Maintenance. They also own a lease option company called First Door LLC.
Summary:
David Johanson shares his journey from selling his pottery studio business and to diveing headfirst into real estate investing. He chose Fargo, North Dakota as his market due to its robust economy and favorable investment conditions. David emphasizes the importance of building relationships and networking with local real estate investors to find the best deals. He also discusses his lease option strategy, which involves leasing properties to tenants with the option to purchase in the future. This strategy allows him to provide affordable housing options and create win-win situations for both tenants and investors.
Key Takeaways:
- Success in real estate investing is all about building relationships and networking with local investors.
- Choosing the right market is crucial for maximizing returns and cash flow.
- Lease options can be a profitable strategy for providing affordable housing and creating win-win situations for tenants and investors.
- Finding the right tenant-owner is essential for the success of a lease option deal.
- Honesty and transparency are key when evaluating potential tenants and their creditworthiness.
Quotes:
- "Success is all about people."
- "Expenses destroy profits."
- "You have to find a market that you like."
- "Success is all about relationships and people."
- "You have to find the right tenant-owner."
- "Lease options can be a win-win for both tenants and investors."
Get in touch with David
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