Ep. 27 – From PHS Band Teacher to Real Estate Tycoon with Randy Hubbs
From fix and flip to single-family rentals to syndication, my guest on today’s podcast, Randy Hubbs, along with his wife Jana, has done it all over a nearly 40-year journey as a real estate investor. But to me and my peers, Randy is best known for being “Mr. Hubbs”, beloved high school band teacher in the ’80s, during my time at Pasco High School, here in the Tri-Cities. He continued his love of teaching and directing at Columbia Basin College for another 28 years before retiring and forging full steam ahead into real estate.
I describe him as a real estate tycoon, all in good fun. But judging from his adventures in real estate investing, it goes to show that you cannot judge a book by its cover, band teacher or not. This guy’s story is truly amazing. He did it on a teacher’s salary, and you can too.
Our 45-minute conversation is jam-packed full of his background as an educator turned real estate investor, how they got their first rental in his very first year teaching and what they did year after year to continue on their path to financial independence. As he said, he didn’t want to retire on a teacher’s salary.
I’ve mentioned that I’m taking baby steps into the world of real estate investing. My first podcast conversation about real estate investing began with Hilario Zaragoza in Episode 24. I am continuing to explore the ideas, terminology, and opportunities associated with real estate investing in my interview with Randy. He has done it all and has a breadth and depth of knowledge unlike anyone I’ve met.
In this episode you’ll learn more about:
- What influence family and upbringing had on them getting started in real estate.
- How he handled a local real estate market crash, interest rates that were in the teens and the nationwide downturn of 2008.
- Why they flipped houses early on and what they did after they had enough capital.
- What they did after they got “Freddy and Fannie’d out”.
- Key benefits of real estate investing
- When building your real estate investment team, the most important question to ask your CPA.
- How they handled being audited by the IRS, not once but 3 times.
- What big names in real estate they now consider friends and what areas they actively invest in right now.
- What do Tennessee, Texas, and Belize have in common?
- His 2 key pieces of advice to those wanting to get started in real estate investing.
- Equity First Home Group and Investment Housing Specialists – Randy’s businesses
- Rich Dad Poor Dad by Robert Kiyosaki
- Rich Dad Poor Dad for Teens by Robert Kiyosaki
- Real Estate Goddesses Podcast, Interview with Jana Hubbs
- Global Summit Management’s Applebrooke Income Fund
- Closed Facebook group – Mid-Columbia Investor Meetup
- Public Facebook Group – Real Estate Investors of Tri-Cities (REITC)
Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to firstname.lastname@example.org.