163: Using Short-Term Rentals & House Hacks to Become Financially Free in 2 Years w/ Andrew Bresee

Mar 9, 2022

57:40

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Despite what most people would like to think, success has no timeline. There will be some "perfect" opportunities that don’t work out, which is why you must persist. You can either become stuck in one failure or use that failure to propel you forward. Our guest, Andrew Bresee, has learned to use missed opportunities to propel him forward.

Andrew was infected with the “real estate bug” in his teenage years after reading Rich Dad Poor Dad. While he didn't start his real estate journey that young, he began developing the skills that have made him a successful entrepreneur early on. Being persistent has helped Andrew in more ways than one. In school, he had the opportunity to study abroad in Italy and like many others, he loved it so much he didn’t want to leave. For weeks he continued to ask to stay and for weeks he continued to get rejected, but he refused to take no for an answer. After a while, the administration finally relented and let him stay as long as he agreed to work as a handyman. Had he accepted his fate, Andrew would have missed out on another year in a beautiful country with the love of his life who is now his wife.

When he came back, he lived with his parents, and instead of rushing to get to the next chapter of his life, he took a step back and found an opportunity right where he was. He decided to convert his parent's basement into an apartment that they could eventually rent out. While it took six years to complete, it currently cash flows and gave him experience with the rehab process. After that, he found the fourplex that he lives in now which cash flows about $1,200 a month! He found his current fourplex after he didn't qualify for a fourplex he thought was "perfect". Opportunities can be found in any failure or redirection—you just need to look hard enough.

In This Episode We Cover

The power of persistence and how to make life work for you

Understanding a seller and how catering to their needs can ultimately benefit you

Optimizing your Airbnb descriptions to attract your ideal tenant

Establishing your short-term rental vs your long-term rental and why it’s important to approach them differently

The importance of finding the right real estate agent who understands your goals and intentions

And So Much More!

Links from the Show

Ashley's Instagram

Tony's Instagram

Brandon's BiggerPockets Account

Real Estate Rookie Facebook Group