140: The Riches Are in the Niches (Like Student Housing) with Bill Syrios

Real estate investing is a BIG field, and there are hundreds of ways to build wealth. However, according to our guest today, the riches are in the niches! On today’s show we sit down with Bill Syrios, an investor from Oregon who specializes in the incredibly lucrative field of student housing (as well as numerous other niches!). You’ll learn how he transformed an early real estate setback into a business that owns hundreds of properties in multiple states! In This Episode We Cover:Times when the Syrios family has been on the BP Podcast!How Bill got started in investingWhat the interest rates were like in 1980What kept him going despite market crashes and failuresHow to treat your real estate investing as a businessThe importance of becoming an expert in a niche marketHow he got started investing in student housingThe pros and cons of student housingTips for handling student turnoverWhat you should know about finding a property manager for these propertiesWhat Loan Care Services isHow to deal with difficult rental situationsImportant legal restrictions for campus propertiesThe details on a 48-unit fraternity house renovationBill’s current portfolio and the states he invests inThe concept of giving over ownershipAnd SO much more!Links from the ShowBiggerPockets MeetBiggerPockets ForumsBP Podcast 121: Creating the IDEAL Real Estate Investing Business with Andrew and Phillip SyriosUltimate Beginner’s Guide to Real Estate InvestingAirbnbBRRRR StrategyBP Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay PapasanBooks Mentioned in this ShowThe Everything Landlording Book: An All-in-one Guide To Property Management by Judy TremoreGood to Great by Jim CollinsBuilt to Last by Jim Collins7 Habits of Highly Effective People by Stephen R. CoveyThe 8th Habit by Stephen R. CoveyFirst Things First by Stephen R. CoveyThe Millionaire Real Estate Investor by Gary KellerThe ONE Thing by Gary Keller and Jay PapasanThe Black Swan by Nassim Nicholas TalebOutliers: The Story of Success by Malcom GladwellThe Tipping Point by Malcolm GladwellWhat Got You Here Won’t Get You There by Marshall GoldsmithTriggers: Creating Behavior That Lasts by Marshall GoldsmithProfit by Investing in Student Housing by Michael ZaranskySmart Essentials For College Rentals by Dan Gooder RichardTweetable Topics:“Even if you only own one property from day one, you treat it as a business.” (Tweet This!)“Every business, every niche has an obstacle.” (Tweet This!)“That’s where real estate investing starts—it starts with a great deal.” (Tweet This!)Connect with BillBill’s BiggerPockets ProfileBill’s son, Andrew’s BP Blog (He’s the writer!)Bill’s Company Website: StewardshipProperties.comAnother Niche Website: StewardshipCapital