Business
Welcome to The Big Mike Fund Podcast. Today it is my privilege and a pleasure to have Fuquan Bilal. Fuquan and I are good friends and are in a couple of masterminds together (The Collective Genius and The Freedom Founders). He has been doing fix and flips and rentals in New Jersey for the past 20 years. In this episode we’re talking about his experience in the real estate business, trends, what the post-COVID environments might look like, the stigma of Section 8, emotional equity, and so much more. Minute Markers: 00:20 – Welcome to the Big Mike Fund Podcast 01:00 - Fuquan’s background 02:00 - Notes, Impact Investing, and mixed strategy 04:00 - Buy and Hold 05:30 - Fuquan’s returns for investors 07:00 - The stigma of Section 8 and government checks 08:20 - Managers, management, and self-management 13:15 - Cap rates 16:00 - Post-COVID environment, city life, and shifts in trends 19:00 - Emotional equity 21:40 - Investing in small notes, how much sweat is worth 26:10 - How to get a hold of Fuquan 26:34 - Thank you for listening to the Big Mike Fund Podcast Quotes: “It is impact investing. You're able to help the owner stay in their house and essentially, you become the bank. That’s what I like about it. It’s another area where I was able to help people and make a profit.” – Fuquan Bilal “I think that the big stigma behind Section 8 and low-income housing and government-backed programs was that the quality of the people wasn’t good as the ideal tenant, but there are some good people working and getting assistance, and there are some people who only pay a portion of the rent, and then the government pays a portion. They actually work.” – Fuquan Bilal “When we set up systems and processes, it makes it easier to manage data than manage people.” – Fuquan Bilal “I'm a seconds guy. We buy a lot of seconds. We buy first also. We invest in seconds that started off with second mortgages. I think it's a really great investment if you know how to manage it.” – Fuquan Bilal “As the market matured and as the prices increased, the efficiency had to increase. If you don't get your automation efficiency, you die. You can't survive in there because the returns are lower unless you can better use your time, it’s not a profitable business.” – Mike Zlotnik Resources: Fuquan email: fbilal@nngcapitalfund.com Website: NNG Capital Fund