Making a $300,000 profit from ONE rental?! Imagine how quickly you could reach financial freedom by raking in this amount of profit and reinvesting it into your real estate portfolio. There’s an investing strategy that allows you to take home six figures from a single sale, and today’s guests are going to share it with you!
Welcome back to the Real Estate Rookie podcast! Christian and Shannon Nossum have been house hacking since college. Once they realized that renting rooms to their friends was a surefire way to maximize their cash flow and live for FREE, they worked hard to buy more homes and convert them into student housing. But how do they fund these large investment properties and renovation projects? They build detached accessory dwelling units (DADUs) and pocket an enormous profit whenever they flip one of these units. The best part? They don’t even need to sell their entire property!
As more and more states allow DADU construction, it’s time for investors to take advantage of this huge opportunity in 2024. Tune in to learn the ins and outs of this lucrative strategy and the best ways to redeploy your profits. Along the way, you’ll learn how to pin down your niche, find more real estate deals, and multiply your cash flow by renting by the room!
In This Episode We Cover:
Making a HUGE profit by flipping detached accessory dwelling units (DADUs)
Why student housing presents a huge opportunity for investors in 2024
How to boost your cash flow with the rent-by-the-room strategy
Maximizing home value with the BRRRR method (buy, rehab, rent, refinance, repeat)
How to find MORE real estate deals (even in a competitive market!)
How to fast-track the permitting process for your home renovations
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Tony's BiggerPokckets Profile
Join BiggerPockets for FREE
Buy the Book “The House Hacking Strategy”
Find an Investor-Friendly Agent in Your Area
See Ashley and Tony at BPCON2024 in Cancun!
Build a Six-Figure Student Housing Portfolio with These Simple Steps
(00:00) Intro
(00:49) Living for FREE in College
(05:24) Student Housing 101
(12:13) Building the DADU
(19:09) Making a $300K Profit?!
(27:11) Adding Value & Finding Deals
(30:38) How to Find Your Niche
(35:20) Connect with the Nossums!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-447
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