Episode 012: From $7/Hour Working at Home Depot… to a $33M Empire – with Derek Alexandrenko

Masters Of Real Estate Podcast
Masters Of Real Estate Podcast
Episode 012: From $7/Hour Working at Home Depot… to a $33M Empire – with Derek Alexandrenko

Derek Alexandrenko has been a real estate investor for the past 18+ years and has been involved in a variety of investing strategies including house hacking, fix & flips, multifamily, build to rent, long-term rentals, and retail.  These days, as a licensed general contractor and developer, his primary focus is on ground-up construction of single-family home communities built with the intent to rent rather than sell.

Derek began real estate investing in the early 2000s, purchasing his first property at the age of 19 while making $7/hour working at Home Depot.  Three years later he graduated college owning three homes on the same street, plus a 27-unit apartment building.

From those humble beginnings, Derek discusses his journey, and how we as able to grow his real estate holdings to a portfolio valued at over $33M!

In this stimulating conversation, we discuss things like:

  • How he bought his first house with only $6k out of pocket… found a couple of roommates to rent out 2 of the bedrooms… and got to live in the home mortgage-free (that’s what we call “House Hacking” these days!).
  • Buying a 27-unit apartment building as a college student… the struggles he had with cash flow and making the mortgage payment… and how he still was able to make a 6-digit profit when he sold it (a testmament to the power of “timing” in the real estate game!).
  • Buying an existing property vs. new construction: Which is better?  And the pro’s and cons of each.
  • What skills, approach, and mindset does it take to become a great builder or developer?
  • How he built a $33M real estate portfolio primarily using the BRRR Method.  In case you’re not famillar with that, it stands for:

B = Buy

R = Rehab

R = Rent

R = Refinance

            … and if you buy and rehab right, it’s a way to build up your portfolio and eventually end up with little to none of your own money in the deal (after you refinance).

  • What Derek would’ve done differently, or added, to grow even faster over the past 2 decades.
  • Keys to buying the “right” piece of land to build on.
  • Why Derek is so excited about developing Build-to-Rent Communities consisting of 100-200 homes… and why he considers this asset class the “crown jewel” of the real estate industry right now and for years to come. 

You’ll enjoy Derek’s simple, low-key, and seemingly stress-free approach to winning BIG in the new construction game.

You can connect with Derek on LinkedIn.

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