249: House Hacking, Live-In Flips, and Investing Purposefully with Josh Daniels

Oct 19, 2017

Ask episode

Chapters

Transcript

Episode notes

Why do you want to invest in real estate? Is it just about having a lot of units—or is it about creating a life you can be proud of? On today’s episode of The BiggerPockets Podcast, we sit down with Josh Daniels, a real estate investor in Montana who, along with his wife Summer, has chosen to buy fewer but better deals on a quest for financial freedom.

You’ll hear about Josh’s highly creative actions that turned their first deal into a cash-cow, as well as the shift to (and reason for) investing in single family houses. You’ll love Josh’s attitude toward financial freedom, as well as his message that you don’t need hundreds of units to be free.

In This Episode We Cover:

How Josh got started investing right out of college
The story behind his killer first rental
Rental rates for this property
How they earned $80k on their next deal
What exactly a live-in flip is
How they manage their properties
A discussion on tenant drama in multi- vs. single-family properties
Josh’s “why” in his investing
How to handle emotional attachment to deals
Tips on financing deals through the BRRRR method
His thoughts on Dave Ramsey’s advice for paying off loans
And SO much more!

Links from the Show

Books Mentioned in this Show

The Millionaire Mind by Thomas J. Stanley
The Millionaire Next Door by Thomas J. Stanley
Brandon’s Book on Rental Property Investing
The Total Money Makeover by Dave Ramsey

Fire Round Questions

Tweetable Topics

“Ignore everything on the MLS. Drive every street and check out dilapidated properties.” (Tweet This!)
“Life is not a competition.” (Tweet This!)

Connect with Josh

Josh’s BiggerPockets Profile

Learn more about your ad choices. Visit megaphone.fm/adchoices