7 Deals in 5 Years by Doubling Down on Rentals in a Tough Housing Market

Dec 2, 2024

In this episode, Ryan Irwin, a tenacious real estate investor, shares his journey from fitness to real estate, completing seven deals in just five years. He discusses seizing opportunities even in a challenging market, emphasizing networking and accountability groups. Ryan reveals his strategies for increasing cash flow and the importance of hiring virtual assistants to streamline operations. With a focus on achieving financial freedom through a manageable portfolio, he inspires listeners to take calculated risks in their own investing journeys.

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Episode notes

Intro

00:00 • 2min

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From Fitness to Real Estate: A Transformative Journey

01:32 • 7min

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Building Connections Through Accountability Groups in Real Estate

08:18 • 4min

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Building Success in Real Estate

12:20 • 10min

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Sponsorship Highlights for Aspiring Real Estate Investors

22:45 • 4min

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Maximizing Efficiency with Virtual Assistants

26:48 • 16min

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The Small & Mighty Real Estate Investor

Discover exactly how to buy, finance, and manage a small portfolio of rental properties that gives you all the flexibility you need.

Chad Carson

Chad Carson's "The Small and Mighty Investor" offers a practical guide to building wealth through real estate investing. The book shares Carson's personal journey, highlighting key strategies and lessons learned along the way. It emphasizes the importance of starting small, focusing on cash flow, and building a sustainable investment portfolio. Carson provides actionable advice on finding deals, managing properties, and navigating the challenges of the real estate market. The book is a valuable resource for both aspiring and experienced real estate investors.

The Total Money Makeover

Dave Ramsey

The Total Money Makeover provides a comprehensive plan for financial fitness, focusing on seven 'baby steps' to help individuals get out of debt and build wealth. The steps include saving a $1,000 emergency fund, using the debt-snowball method to pay off debts, saving a 3-6 month emergency fund, investing for retirement, saving for children's college, paying off the home mortgage, and building wealth. The book also corrects common money myths and offers practical advice based on real-life success stories.

The House Flipping Framework

Buy Back Your Time is a definitive guide for entrepreneurs at every level, teaching them how to scale their business quickly while avoiding burnout. The book introduces the 'Buy Back Principle,' which emphasizes hiring people to do repetitive and low-value tasks, allowing entrepreneurs to focus on high-value activities that bring energy and fulfillment. Dan Martell provides practical steps, frameworks like the 'replacement ladder' and 'DRIP matrix,' and strategies for outsourcing, automation, and prioritization to enhance both professional and personal life. The book is structured around key frameworks and tools, making it a valuable resource for entrepreneurs looking to achieve a better work-life balance and build a thriving business empire.

Set for life

Scott Trench

When interest rates rose, many investors stopped buying. But not Ryan Irwin. This rookie doubled down on real estate, choosing whichever investing strategy made the numbers work. Even in a tough housing market, Ryan’s big bet on real estate paid off, as he’s now up to seven deals and earns a solid chunk of cash flow each month!

Welcome back to the Real Estate Rookie podcast! It can take a new investor months, sometimes years, to find their first deal. But when Ryan was just starting out, he did the two things every rookie should do: he told everyone he was investing in real estate, and he started attending networking events. Building these relationships has allowed him to buy multiple rental properties, flip houses, and invest in syndications—all in just five years!

But Ryan doesn’t aspire to build his own real estate “empire.” He just wants a small real estate portfolio that gives him financial freedom. Now that he has several deals under his belt, he plans to stabilize his portfolio and squeeze even more cash flow out of his rental properties by refinancing and paying off his mortgages one by one!

In This Episode We Cover:

Why Ryan is doubling down on real estate (even in a tough housing market!)

The number one thing you can do today to fast-track your investing journey

Why a virtual assistant should be your first hire as you scale (and where to find one!)

Two things you can do to increase your rental property cash flow

Chasing financial freedom with a “small and mighty” real estate portfolio

How to scale faster by automating and delegating low-level tasks

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

Join BiggerPockets for FREE

Real Estate Rookie Facebook Group

Real Estate Rookie YouTube

Set for Life

The House Flipping Framework

Shop the BiggerPockets Black Friday Sale and Get Up to 60% Off Your Next Book Purchase

Buy the Book “The Small and Mighty Real Estate Investor”

Find Investor-Friendly Lenders

Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio

Connect with Ryan

(00:00) Intro

(01:31)Discovering Real Estate

(07:07) Ryan’s “Lightbulb Moment”

(12:49) Current Portfolio & Funding

(19:03) Key Systems & Processes

(28:56) Cash Flow Numbers

(35:27) Advice for New Investors

(36:23) Connect with Ryan!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-491

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