Matt Porcaro is the founder of The 203K Way, a program that helps real estate investors build their portfolios by using the FHA 203K loan. He is a seasoned real estate investor who specializes in fix and flips, the BRRRR strategy, and small multifamily properties, and he is with us on the show today to shed a little more light on The 203K Way.
Listen now to learn how Matt used the FHA 203K loan to propel his real estate investing career to success and how you can learn how to do it for yourself too!
Key Talking Points of the Episode
[01:18] Who is Matt Porcaro?
[03:01] What is Matt’s background?
[04:57] How did Matt get into real estate investing?
[06:00] What is the FHA 203K Loan?
[07:16] How can you use the FHA 203K loan as an investor?
[08:37] How did Matt learn more about how the FHA 203K loan works?
[09:31] What was Matt’s first investment property like?
[12:01] How did the FHA 203K loan help Matt make progress in his investing career?
[14:04] Why should real estate investors consider utilizing the FHA 203K loan?
[16:24] What is the importance of learning to recycle the current real estate inventory?
[22:31] How does the FHA 203K loan work?
[24:12] What does the process of using the FHA 203K loan look like?
[25:33] What is the role of the 203K consultant?
[26:08] How can you make sure your renovation works with the FHA 203K loan?
[28:42] How do interest rates work with the FHA 203K loan?
[29:56] What was the turning point in Matt’s career?
[32:46] How can the FHA 203K loan make real estate investing easier?
[34:12] What is the importance of learning to lead by example?
[37:45] What is The 203K Way?
[38:32] How did Matt come up with The 203K Way?
[41:53] What is the purpose behind The 203K Way?
[43:49] What is Matt’s advice for investors today?
[46:02] How many people has Matt helped with The 203K Way?
[47:51] How can you connect and learn more from Matt?
“One thing I do know is that we’re not gonna be able to build houses fast enough, so we have to learn how to work with the existing inventory in the market and one of the best ways to do this is by using renovation lending.”
“People always wonder why all contractors suck, but it’s not that all contractors suck. It’s that all people go to the cheapest guy.”
“I think the thing I underestimated the most was getting one deal and how that one deal changes everything so fast. You, all of a sudden, are part of the club.”
“If you can get a good deal, a good deal absolves all sins.”
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Website: RCN Capital
Website: REI INK