BiggerPockets Real Estate Podcast How I Built a $100K/Year Passive Income Stream in 5 Years
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Oct 13, 2025 Joe Hammel, a real estate investor and agent, shares his impressive journey of building a $115,000/year passive income stream in just five years. He discusses the 'bread-and-butter' rental strategy that fueled his success in Detroit's undervalued market. Joe explains the benefits of the slow BRRRR method, emphasizing the power of reinvesting cash flow. He also highlights the types of properties that yield the best returns and offers insights on managing renovations remotely for out-of-state investors. Get ready to be inspired to achieve financial freedom!
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First Deal That Proved The Model
- Joe Hammel bought his first Detroit-area single-family property for $103,000 and put about $15K into it.
- The home now rents for $1,600 and has cashflowed $600–$700/month for five years.
Bread-And-Butter Deal Profile
- "Bread and butter" deals balance price, rent, ROI, and location for predictable returns.
- Target properties in the $80K–$130K range that meet a 1%–1.4% rent rule and 6%–12% cash-on-cash.
Affordability Drives Sustainable Appreciation
- Affordability sustains demand and appreciation in markets like Detroit.
- Lower price points create room for continued growth when higher-cost markets stagnate.