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Do NOT buy rental properties. There’s a MUCH better way to build wealth. And we mean that literally, “building” wealth is the best path. At just twenty-seven years old, today’s guest has built twenty-five homes, often making around a one-hundred percent return on his money, all without the hassle of the creaky floors, poor piping, and outdated electricals of old, “cash-flowing” rental properties. So, how is he doing it?
Donovan Adesoro bought his first duplex in 2020. He took advantage of a zero percent down loan program, allowing him house hack a new build for just $3,000 out of pocket. But once he saw how much equity he could make, he realized he had to do more. So, Donovan linked up with other investors, overseeing the new build process in exchange for capital to buy land. He then used the plots of land as collateral for his new construction loans, and within six months, Donovan was the proud owner of a brand new duplex with TONS of equity included.
But if you’re like most investors, you know NOTHING about new construction. Thankfully, Donovan, who wasn’t a builder by trade, breaks down the entire building, funding, and capital-raising process so you can repeat his system and start building your wealth instead of buying it! Plus, Donovan gives ACTUAL numbers on what he’s making for every new home and some expert tips on lowering your costs while selling for a high price!
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David:What’s up, everyone? Welcome to the BiggerPockets podcast, the biggest, the best, and the baddest real estate podcast in the world. I am your host, David Greene. I’m here with my skilled, talented, handsome, buff, and brilliant co-host, Rob Abasolo.
Rob:Thank you. I appreciate that. That’s what I needed on a Wednesday, my friend. How are you?
David:I’m good. Did I leave anything out? I suppose I could have said ripped, artistic, wonderful lover.
Rob:Two out of three is not bad. Listen, for everyone at home, we have a pretty incredible story for you today. We’re here with Donovan Adesoro. Donovan started investing in duplexes right out of college in the Houston market, my backyard. He has grown quite a portfolio in his short time as an investor, and has started building duplexes himself.
David:So if you’ve ever been frustrated by the lack of inventory, wanting to get deeper into real estate, but traditional paths don’t seem to be yielding much fruit, today’s show is for you. You’re going to hear about how Donovan selected a product that was needed in his market, saw where the demand was, and move forward mitigating risks on how he did it. What an awesome story and incredible young man. Let’s bring him in.Donovan, you started investing in duplexes right after college, not something that everybody does. What year was this, and why did you choose duplexes specifically?
Donovan:So, in 2020, after I bought that first duplex, I realized there’s j