In this episode of The Lo-Down, Lorenzo sits down with Joshua Massari, co-host of The Broke Millionaires podcast, to unpack how he and his wife built millions in real estate equity while living in one of the most expensive markets in the U.S. — Orange County, California.

Joshua shares how they used a live-in value-add strategy (a twist on BRRRR), buying fixer-uppers as primary residences, renovating while living in them, and repeating the process — all while raising four kids and working full-time.

If you think real estate investing only works in cheap markets, this episode will completely change your perspective.

Chapters

00:00 Intro – Meet Joshua Massari

01:00 What does “Broke Millionaire” really mean?

02:30 Investing in expensive cities like Orange County

04:10 Why fixer-uppers beat turnkey homes

05:40 Buying during COVID: opportunity in chaos

07:15 The ALLL Method (Acquire, Live, Lift, Leverage, Loop)

09:10 Using primary residence loans to invest with less cash

11:00 Turning $17K into millions in real estate

12:40 House hacking before it was a buzzword

14:10 Why Josh avoids flipping houses

16:00 Living through full renovations (no kitchen, kids included)

18:50 Renovation stress, marriage, and alignment

21:40 Balancing a full-time job with real estate investing

24:50 Kids and investing: why they’re not the problem

27:10 Delayed gratification & long-term wealth mindset

28:50 Mid-term rentals vs long-term rentals in California

31:00 How to evaluate neighborhoods correctly

33:30 Foundations: deal breaker or opportunity?

36:10 Creative financing explained (seller finance, HELOCs)

39:50 Cross-collateralization & hard money loans

42:00 Over-leveraging myth explained

44:30 HELOC strategy most investors miss

47:30 Fighting banks & getting deals approved

51:30 Starting The Broke Millionaires podcast

54:00 Biggest advice for new investors

55:40 Where to find Joshua + final thoughts

Key Takeaways

You don’t need to invest out of state to build wealth — strategy beats location

Living in your investments unlocks better financing and faster scaling

Renovation pain is temporary, equity is permanent

Kids aren’t the obstacle — lack of alignment is

Creative financing is often the difference between quitting and winning

Real estate rewards those willing to stay uncomfortable longer

Who This Episode Is For

Investors in high-cost cities

First-time homebuyers thinking long-term

Families who think kids stop investing

Anyone waiting for the “perfect time”

People who want real, practical investing stories — not hype

Connect with Joshua Massari

Instagram: https://www.instagram.com/joshuadmassari/?hl=en

Instagram : https://www.instagram.com/thebrokemillionaires_/?hl=en

Connect with Lorenzo:

Instagram: https://www.instagram.com/lorenzo.mercado_

Website: LorenzoMercado.com | SolvarraGroup.com

Listen to The Lo-Down Podcast

🎙Apple: https://podcasts.apple.com/us/podcast/the-lodown/id1764777761

🎙Spotify: https://open.spotify.com/show/1YjwXXjvFT3mqve6uMF983