Out-of-State Investing in Long-Term Rentals

Josiah: I actually really did like the out-of-state investing. The cash flow of short-term rentals is just phenomenal. And so wanna continue that. But also, I mean, the goal is to just keep the short- term rentals building for now and then maybe in a couple of years, do some multifamily that's out of state. That's awesome.

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Life is unpredictable, and there's no way to get around that. Instead, you have to learn to pivot and accept where you are, so you can get to where you're going. Today’s guest, Josiah Hein, was hit with life’s unpredictability when he was in a car accident with a drunk driver, resulting in damage to his neck and back. Josiah could have easily used the accident as a reason to give up, but instead, he took it as an opportunity to pivot and build another business. Josiah has closed on three deals, including a tiny home that alone cash flows $6,000 a month!

Josiah's first business required strenuous physical labor, so after his accident, he couldn't work as much. He used his newfound time to start learning about real estate. He had always considered real estate as a long-term retirement plan, but his plan suddenly got expedited. He started investing right before COVID by converting his old house into a rental property.

His portfolio also includes an out-of-state property and a tiny home. He was inspired to invest out-of-state after reading David Greene’s Long-Distance Real Estate Investing. After five months of researching to find an out-of-state market, he settled on Tulsa, Oklahoma. He also has a lucrative tiny home bringing in some serious cash flow every month!

In This Episode We Cover

Using a setback as a setup and how to pivot when life gets unpredictable

Finding “hot” markets and what criteria to look for

Doing a profitable cash-out refinance and the BRRRR strategy

Self-managing short-term rental properties and using listing sites like Airbnb to rent out your property

Tiny homes 101 and the benefits that go beyond having a mini-mortgage

Buying out-of-state investment properties and how to manage your rental remotely

And So Much More!

Links from the Show

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Tony's Instagram

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