BRRRR to Financial Freedom with Joseph Cornwell
Joe Cornwell was a full-time police officer from 2012-2021, He began real estate investing by doing a live-in flip in 2011-2014, he started buying rental properties in 2017. He became a real estate agent in 2016, and started a general contracting company in 2018. He has mainly focused on deep BRRRR properties on small to midsized multifamily based in Cincinnati, Ohio. He currently has around 75 doors, 5 full-time contractors, and 1 full-time assistant as employees. His company is Realty One Stop.
We talked to Joe about the importance of having a clear vision, how solving problems can create new opportunities, and how he became a real state investor while being a police officer. LISTEN HERE:
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[00:01 – 04:52] Opening Segment
Joe talks about his background;
He talks about how he got into buy and hold real estate;
[04:52 – 16:30] 3x Return
Joe talks about his process of walking away from his day job for real estate investing;
Why having a clear vision and goal is crucial;
Different ways to make money from real estate;
How solving problems opened a way for Joe;
How being a police officer translates to real estate;
Joe’s advice to blue collars and community service providers who would like get into real estate;
[16:30 – 27:17] An Evolving Investor
Joe talks about the biggest deal he closed;
Why it took so long for him to find a midsize deal;
How having a good relationship helped him close the deal he has been looking for;
How to structure your debt in today’s high interest rate market;
The importance of staying aggressive in today’s market;
What’s next for Joe;
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[27:17 – 33:52] Round of Insights
Apparent Failure: Hiring the wrong contractors in his first deal
Digital Resource: Quickbooks
Most Recommended Book: Good to Great
Daily Habit: Having written goals
#1 Insight for Investing: Having really crystal clear goals will dictate how you go about accomplishing them.
Best Place to Grab a Bite in Cincinnati: Precinct
“Having really crystal clear goals will dictate how you go about accomplishing them!" - Joseph Cronwell
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