Real estate investing could help you achieve your financial goals, whether it’s to make enough cash flow to replace your W2 income or build wealth for an early retirement. Like many, today’s guest is chasing financial freedom, and thanks to a unique property that brings in $5,000 in monthly cash flow, he’s well on his way!
Welcome back to the Real Estate Rookie podcast! Rocky Gibson knew he wanted to invest in real estate since his college days, so after landing his first “real” job out of school, he wasted no time buying his first property. Since then, it’s been full speed ahead for Rocky, and in just five years, he has built and scaled his real estate portfolio from zero to fifteen units and two flips. His main investment property, an eleven-unit RV park, nets $5,000 per month alone!
In this episode, Rocky talks about the power of renting by the room, leveraging your personal network, and using home equity to grow your portfolio and get access to private deals. You’ll even hear about the $100,000 mistake that Rocky almost made and how altering his strategy allowed him to not only salvage the deal but also make a profit!
In This Episode We Cover:
How Rocky built his real estate portfolio up to fifteen units (and two flips) in just five years
The unique property that can give you $5,000 in monthly cash flow
Why house hacking is the BEST investing strategy when you’re just starting out
How to achieve financial freedom through real estate investing
Creative ways to fund more rental properties without traditional bank financing
How altering his strategy on the fly helped Rocky avoid a $100,000 mistake
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
Put Your Vacation Rental on Autopilot with Hospitable
Buy the Book “Real Estate Campgrounds”
Find an Investor-Friendly Agent in Your Area
How to Start Making Millions from These Overlooked RV Park Investments
Connect with Rocky
(00:00) Intro
(00:31) Why Real Estate?
(04:23) House Hacking 101
(12:01) Building the RV Park
(19:47) Tapping Into His Network
(27:28) Funding the Campers
(30:17) Cash Flow & Investing Goals
(34:57) Cash Flow & Investing Portfolio
(35:49) Connect with Rocky!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-480
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Real Estate Rookie