Real Estate Rookie 107: 10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew
We have lots of fun phrases in the real estate community, phrases like house hacking, live in flipping, and BRRRRing. Now, we may have one new phrase to add...land hacking. Kai Andrew describes land hacking as extracting as many income streams as possible from one piece of property. That means having the main house for long-term rentals, a small ADU for short-term rentals, a glamping tent in the back, and potentially some farmland being rented out as well.
Only someone as creative as Kai could come up with this sort of strategy. In fact, Kai started out house hacking for his first real estate investment at the age of 21. He rented out to family members and friends before he saved up enough cash to start buying short-term rental properties around his local area of Portland, Oregon.
As his short-term rental portfolio began to grow, Kai started investing in more “unique” opportunities, like shipping container homes, glamping, or A-frame builds. He also set up criteria that he terms “the golden triangle” for all his unique experiences. These unique homes have helped him grow his portfolio, his profits, and take home a sizable amount of equity between his 12 doors.
In This Episode We Cover
Why house hacking is still a relevant strategy in today’s market
How to convince your partner/parents/friends to invest with an investor presentation
Airbnb arbitrage (rental arbitrage) and building your business with no home purchase necessary
Land hacking and using a single property for many income streams
Creating a “golden triangle” for your unique short-term rentals
Setting up safety nets so you never have to realize your “worst-case scenario”
And So Much More!
Links from the Show
Real Estate Rookie Youtube Channel
Check the full show notes here: https://www.biggerpockets.com/rookie107
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