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4 Rentals in 7 Years with LOW Money Down (5% - 10% Down!)

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Manage episode 456118644 series 2632451
Innhold levert av BiggerPockets. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av BiggerPockets eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Don’t have a ton of money to invest in rental properties? No problem! You don’t need hundreds of thousands of dollars to start building wealth. Chris Young, a (not-so) rookie investor from Southern California, started with just five percent down. He bought a $500,000 home in pricey Los Angeles for just $25,000 out-of-pocket. Now, Chris has four rental properties, one of which he uses as a vacation home, and hundreds of thousands in equity! Plus, he did it all while working a W2!

Chris knew he wanted to invest in real estate early on. So, when he started his full-time job, he also got his real estate agent license, allowing him to have a backup source of income in case his career didn’t work out. But, thankfully, his real estate has been doing more than alright! He performed a “live-in BRRRR(buy, rehab, rent, refinance, repeat) on his first property, making him hundreds of thousands in equity, then bought another one!

But, after attending BPCon, Chris knew he needed a true investment property. What gets you monthly cash flow and a vacation home to use whenever you want? A short-term rental! But not everything went as planned—one unlucky event put his entire house out of commission for months! However, Chris is still thrilled that he has bought this property. He shares why he picked its specific market, how he dodged local competition, and did it all with just ten percent down!

In This Episode We Cover:

How to start building your real estate portfolio with just five percent down!

The “live-in BRRRR” strategy that made Chris hundreds of thousands of dollars

Picking your vacation rental market and why you DON’T want to go where everyone else is

Using a ten percent down second home loan to buy your first short-term rental

The one very unlucky event that cost Chris $40,000 (you CAN’T avoid it!)

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

Join BiggerPockets for FREE

Real Estate Rookie Facebook Group

Real Estate Rookie YouTube

Grab the Book, “Short-Term Rental, Long-Term Wealth”

Find Investor-Friendly Lenders

Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code w/Miller McSwain

Connect with Chris

(00:00) Intro

(02:24) 5% Down First Property

(06:57) Property 2 (Rent-by-Room)

(11:04) Finding 1st Short-Term Rental

(19:36) 10% Down Sequoia Vacation Rental

(29:26) Losing $40K!

(30:01) Setting Yourself Apart

(39:44) Connect with Chris!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-498

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

507 episoder

Artwork
iconDel
 
Manage episode 456118644 series 2632451
Innhold levert av BiggerPockets. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av BiggerPockets eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Don’t have a ton of money to invest in rental properties? No problem! You don’t need hundreds of thousands of dollars to start building wealth. Chris Young, a (not-so) rookie investor from Southern California, started with just five percent down. He bought a $500,000 home in pricey Los Angeles for just $25,000 out-of-pocket. Now, Chris has four rental properties, one of which he uses as a vacation home, and hundreds of thousands in equity! Plus, he did it all while working a W2!

Chris knew he wanted to invest in real estate early on. So, when he started his full-time job, he also got his real estate agent license, allowing him to have a backup source of income in case his career didn’t work out. But, thankfully, his real estate has been doing more than alright! He performed a “live-in BRRRR(buy, rehab, rent, refinance, repeat) on his first property, making him hundreds of thousands in equity, then bought another one!

But, after attending BPCon, Chris knew he needed a true investment property. What gets you monthly cash flow and a vacation home to use whenever you want? A short-term rental! But not everything went as planned—one unlucky event put his entire house out of commission for months! However, Chris is still thrilled that he has bought this property. He shares why he picked its specific market, how he dodged local competition, and did it all with just ten percent down!

In This Episode We Cover:

How to start building your real estate portfolio with just five percent down!

The “live-in BRRRR” strategy that made Chris hundreds of thousands of dollars

Picking your vacation rental market and why you DON’T want to go where everyone else is

Using a ten percent down second home loan to buy your first short-term rental

The one very unlucky event that cost Chris $40,000 (you CAN’T avoid it!)

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

Join BiggerPockets for FREE

Real Estate Rookie Facebook Group

Real Estate Rookie YouTube

Grab the Book, “Short-Term Rental, Long-Term Wealth”

Find Investor-Friendly Lenders

Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code w/Miller McSwain

Connect with Chris

(00:00) Intro

(02:24) 5% Down First Property

(06:57) Property 2 (Rent-by-Room)

(11:04) Finding 1st Short-Term Rental

(19:36) 10% Down Sequoia Vacation Rental

(29:26) Losing $40K!

(30:01) Setting Yourself Apart

(39:44) Connect with Chris!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-498

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

507 episoder

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