Every investor wants a rental property that brings in six figures, but not every investor is willing to scour old listings, bring in a partner, or exhaust all of their creative financing options. If you want the perfect deal, don’t let money get in the way!
Today, we’re chatting with former Division II football coach Adam Howard. In just three years, Adam has bought several properties that provide enough cash flow to replace his W2 income. This includes the “crown jewel” of his portfolio and first commercial property, a 13-unit hotel tucked away in a beautiful New York lake town. Adam found this rare deal by digging up an old Zillow listing that was incorrectly described as a single-family home. He was able to get seller financing for the deal, and today, it brings in $160,000 per year!
Of course, this success story had its fair share of hiccups. Adam shares how he had to bring in a partner to take down the deal and identify creative ways to add value to the property before charging his ideal nightly rate. He also talks about the challenges of out-of-state investing and why building a strong investing team has been the key to his success!
In This Episode We Cover:
How to land your FIRST commercial real estate deal without bank financing
The “small” commercial properties that are IDEAL for seller financing
How to find the perfect investing partner for your next deal
Leveraging your retirement accounts to buy MORE properties
Raising your nightly rate with the best value-adds for short-term rentals
How to find the hidden value in properties with incorrect listings
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal
Commercial Real Estate Fundamentals for Successful Investors
Scaling From Single Family to Commercial Real Estate
Connect with Adam:
Adam's BiggerPockets Profile
Adam's Website
Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-375
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