Summary
In this episode of the RealPropPro podcast, host Ian Dietler interviews Brett Payton, a seasoned real estate investor specializing in fix and flips in Sacramento, California. Brett shares his journey from various jobs to becoming a full-time real estate investor, emphasizing the importance of mentorship and the evolution of his investment strategies. The conversation delves into the rising trend of Accessory Dwelling Units (ADUs) in California, discussing their benefits in addressing the housing crisis and the challenges of navigating local regulations. Brett also highlights the owner-builder approach, offering insights on cost-saving strategies and the significance of referrals in the construction process. In this conversation, Ian Dietler and his guest discuss the intricacies of building Accessory Dwelling Units (ADUs), the importance of proper funding, utility management, and the significance of teamwork in construction. They also delve into the role of technology and AI in real estate, the mindset required for success in the industry, and how to provide housing through voucher systems. The discussion emphasizes the need for planning, adaptability, and continuous learning in real estate investment.
Takeaways

• Brett Payton specializes in buy, build, and hold strategies.
• Growing up in various states shaped Brett's perspective on life.
• Sales experience helped Brett in his real estate career.
• Mentorship played a crucial role in Brett's transition to real estate.
• Brett's goal was to buy a house and achieve financial stability.
• California is a leader in ADU development.
• ADUs can significantly increase property value and address housing shortages.
• Navigating local regulations for ADUs can be challenging.
• The owner-builder approach can save significant costs in construction.
• Referrals are essential for finding reliable contractors. Make sure you have enough funding.
• Write every single thing down before starting the build.
• Stay three to four steps ahead in the construction process.
• It's important to work as a team with subcontractors.
• Ensure utilities are set up as soon as possible.
• Understand the importance of over-the-counter plans for efficiency.
• You are in control of your own destiny in real estate.
• Creating a good system is essential for success.
• Always be a doer, not just a thinker.
• Invest in learning through resources like books and games.

Chapters00:00 Navigating the Current Real Estate Market00:47 Introduction to RealPropPro and Guest Background03:03 Early Life and Career Journey05:49 Transitioning to Real Estate Investing08:48 The Role of Mentorship in Real Estate11:35 Exploring Buy and Hold vs. Fix and Flip Strategies14:47 The Shift to ADU Developments18:35 Understanding ADUs and Their Benefits19:54 Challenges of Building ADUs in High-End Neighborhoods21:52 The Owner-Builder Approach25:50 Key Considerations for Building an ADU28:39 Site Planning and Utility Connections33:12 Plumbing Challenges and Solutions35:10 Navigating Building Codes and Plans35:37 Understanding Voucher Housing37:14 Real Estate Investor Mindset39:52 The Importance of Systems in Real Estate42:54 Leveraging Technology and AI in Real Estate46:04 The Balance Between AI and Human Experience48:10 Taking Action in Real Estate Investing50:32 New Chapter