You can still get rich buying “boring” rental properties. Today’s guest pockets $6,800 in pure cash flow every month and is building an enormous amount of equity in four small multifamily rentals, and he’s not doing anything YOU can’t do. You don’t need a ton of money or even the flashiest investing strategy—you just need to get started and play the long game!
Welcome back to the Real Estate Rookie podcast! Ryan Allsop hated paying rent—so much so that he bought his first rental property without really knowing what he was doing. But with some rookie-level analysis and savvy networking, Ryan found that first duplex, which has been his “cash cow” ever since. Then, Ryan used home equity lines of credit (HELOCs) to scale a real estate portfolio that delivers nearly $7,000 in combined monthly cash flow!
Want to copy Ryan’s success? In this episode, he’ll show you the steps he took to go from complete beginner to confident investor in no time. You’ll learn about the real power behind buy and hold investing, a lucrative Airbnb side hustle you can use to fund deals faster, and a surprisingly effective way to negotiate with sellers—without ever picking up the phone!
In This Episode We Cover
How Ryan makes $6,800 in monthly cash flow with just four rental properties
Using the buy and hold strategy and “delayed gratification” to pay your future self
Scaling your real estate portfolio through home equity lines of credit (HELOCs)
Critical mistakes to avoid when hiring a contractor for your renovation projects
The easiest (and cheapest!) way to find off-market properties for sale
Living for free by having someone else pay down your mortgage for you
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-587
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