Most real estate investors obsess over cutting costs — but Alan Corey grew his portfolio to over 300 units by flipping that approach entirely. Alan, an Atlanta-based real estate investor who fat-fired at 42, joins Brad to break down his business-first mindset for building wealth through rental properties. Alan emphasizes viewing real estate as a business driven by spreadsheet decisions, not emotional preferences. He explains key concepts like "doors" (rental units), the difference between cash flow and appreciation, and when to outsource property management. The conversation covers scaling strategies, the 2% rule for evaluating properties, and advanced tactics like 1031 exchanges and commercial real estate investing. Introduction to Real Estate Investing [00:00:00] Alan Corey's background and experience owning over 300 rental units Understanding Property Metrics [00:03:00] Definition of "doors" in real estate and assessing investment success Investment Mindset [00:06:10] Viewing real estate as a business and avoiding emotional decisions Scaling Your Investments [00:11:00] When to manage properties yourself versus outsourcing to property managers Cash Flow vs. Appreciation [00:09:36] The 2% rule and its implications for property investment decisions Advanced Strategies in Real Estate [00:22:58] 1031 exchanges, tax benefits, and advantages of commercial properties Conclusion and Insights [01:08:40] Summary of key concepts for listeners' investment journeys Key Quotes: "Invest based on spreadsheet decisions." [00:08:11] "Every property you buy comes with imaginary lottery tickets." [00:57:03] "Marry the property, date the rate." [00:22:24] "All of this is just spreadsheet decisions, not lifestyle choices." [00:19:10] Resources: House Fire by Alan Corey Real Estate Maximalist Podcast: https://www.realestatemaxi.com/podcast