Real Estate Rookie 173: $1M in Real Estate in Just 1 Year (and How You Can Do It Too!)
Investing in rental properties can be challenging at first, which is why so many investors tend to take it slow. Tyler Madden had the luxury of NOT being able to do this, and it’s worked out well in his favor. Just over a year ago, we interviewed Tyler on episode fifty-five of the Real Estate Rookie Podcast. At the time, Tyler was an “accidental landlord”, but a lot has changed since then.
Tyler found himself in the position to purchase seven units, a mere $1,000,000 or so in real estate, right as his wife was due to deliver their first-born child. While he didn’t necessarily want to handle a full rehab of so many units, he took a “why not?” approach and found a way to make both properties work. Through a lot of sweat equity, Tyler was able to rehab, rent, and refinance these units and come out with a crazy amount of monthly cash flow!
If you want to expand your real estate portfolio as Tyler did, listen to this episode intently. Tyler dives deep into the numbers, work, and lessons he learned along the way as he turned seven underperforming rental units into a portfolio any investor would dream of!
In This Episode We Cover
Relying on data vs. emotions when buying your first rental property
Whether or not now is the right time to buy real estate
What’s impacting today’s housing market and using uncertainty to your advantage
The best investing moves to make if a recession (or crash) is on the horizon
What rookies should look for in a real estate investing market
Buying real estate with a long-term outlook (so you can handle the dips!)
And So Much More!
Links from the Show
Real Estate Rookie Youtube Channel
Rookie Podcast 55: Combining House Hacking and Live in Flips with Tyler Madden
Connect with Tyler
Check out the full show notes here: https://biggerpockets.com/blog/rookie-173
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