Your Financial Pharmacist YFP Real Estate Investing 64: How One Pharmacist Bought 10 Rentals in His First Two Years
Jul 2, 2022
33:54
Tyler Dalton, PharmD, shares his real estate investing experience, how he purchased 10 houses in his first two years as a real estate investor, and how he continues to grow his portfolio toward the ultimate goal of replacing his pharmacy salary.
Key Points From This Episode
- Tyler’s background: how he got into both pharmacy and real estate.
- Why he chose real estate and his passion for it.
- How our guest found success after his ambitious start in real estate.
- Using hard money lenders and investing without putting up capital.
- Tyler explains what a hard money lender is.
- Why he chooses to buy ‘fixer-upper’ properties.
- What Tyler learned in the process of flipping houses and what he would do differently now.
- The importance of comprehensive property analysis and vetting contractors.
- Correlations between location and price point.
- How our guest was able to manage so many properties while being a full-time pharmacist.
- The type of work that needs to be done to successfully flip a house.
- Discussing the time value of money.
- How to approach with caution and recognize the warning signs of an untrustworthy contractor.
- Some tips on how to find the right contractors.
- Why Tyler says that project number 10 was much more efficient than the previous nine.
- Why he decided to switch to short-term rentals and a breakdown of the 1031 exchange.
- How to boost your cash flow and multiply it by 10.
- Insight into Tyler’s five-year plan.
- Parting words of advice from our guest and a podcast that inspired him.
Links Mentioned in Today’s Episode