ATE - Sniffing out the Bad Deals with Bruce Wuollet and Bobby Jones

Bruce Wuollet advises Bobby Jones on how to sniff out bad deals, and gives an example of how conservative underwriting can make up for a due diligence miss. Bruce shares from his experience thus far that sometimes what causes problems down the road are the unseen aspects of apartment buildings.
Download our free investing guide at www.fouroakscapital.com
Originally aired on August 19, 2020.

Interested in being on the show? Visit our website at www.fouroakscapital.com/podcast or email me at [email protected]

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Bruce Wuollet

Bruce is the founder, visionary and the current owner of Bakerson. Growing up in the bakery business in the Twin Cities in Minnesota, Bruce wanted to pay homage to his now late father; hence the name “Bakerson”. He has a proven track record of success throughout Bakerson’s nearly 18 years in business with thousands of individual units bought, repositioned and sold. Bruce has overseen all aspects of the business including operations, acquisition, project leadership, equity fund management, property specific syndications, legal, finance and more. His focus is finding good deals while his passion is serving the residents by providing them with one of their basic human needs – shelter.
Check out Bruce's website at https://bakerson.com/
Email [email protected]
Call (520)-808-9111

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Bobby Jones

Bobby Jones is a former nurse anesthesiologist turned apartment investor. He is passionate about helping people learn how to get out of the rat race through passive income strategies. He is the founder of On Call Capital, where he works with CRNAs and other working professionals to invest in cash-flowing, alternative opportunities outside of the traditional stock market. Bobby lives in Winston-Salem with his wife and three children. He enjoys hiking, running, reading, and bowling in his "spare" time. (Yes, that's a bowling pun, lol.)--
Check out his free report on Diversification at https://www.oncallinvestments.com/
Email [email protected]
www.linkedin.com/in/oncallcapital/
Call (336)-403-2256

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Your host, Brian Briscoe, is a co-founder and principal in the real estate investing firm Four Oaks Capital. He and his team currently have 168 units worth $7.5 million in assets under management and are continuing to grow. He will retire as a Lieutenant Colonel in the United States Marine Corps in 2021. Learn more about him and the Four Oaks team at www.fouroakscapital.com or contact him at [email protected] - be sure to let him know where you found him.
Connect with him on LinkedIn, Facebook, or on Bigger Pockets.
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Tweetable Quotes:

"The area that typically for us has been the steepest learning curve are the things you can't see and there are two areas and that's plumbing and HVAC" -Bruce Wuollet

" And then I thought to myself, if I can do this, why can't so many other people that I know do this and have that same freedom?" -Bobby Jones
"So the biggest thing is assume their numbers are going to be inflated on the income and the collections and deflated on the expenses. But then run your own numbers, do your rent comps, that's where the writing comes in and figure out the expenses of the building"-Bruce Wuollet