Most people think money is the biggest barrier to buying rental properties—it’s not! Inaction is what keeps most rookies on the sidelines. Today’s guest was making $35,000 a year and had very little money saved, yet found a way to buy his first property. Since then, he has built an 11-property rental portfolio and walked away from his W2 job. If he can do it, you can, too!
Welcome back to the Real Estate Rookie podcast! With just a $35,000 salary to support himself, his wife, and a baby on the way, Matt Krueger knew he needed to make changes to forge a better future for his young family. Thankfully, his in-laws had modeled the power of real estate investing, having retired with rentals many years earlier. So, Matt took action—hunting down his first property and negotiating until he was all in for just $2,500!
Feel like money is getting in the way of your first deal? It doesn’t have to! In this episode, Matt shares the “hacks” he used to lower his down payment and closing costs. He also talks about how pivoting to short-term rentals fast-tracked his financial goals and the moment he realized he could ditch his nine-to-five!
In This Episode We Cover
How Matt went from making $35,000 a year to quitting his job (thanks to real estate!)
Little-known “hacks” that can help lower your down payment and closing costs
The primary residence “mistake” that could derail your next deal
The power of reinvesting your cash flow back into your rental properties
Tapping into your home equity to help fund your next investment
Building equity fast with low-money-down, “fixer-upper” properties
How to self-manage your rental property without it becoming another full-time job
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-596
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