Capital Hacking E281: From Engineer to Full-Time Real Estate Investor with Kyle McCorkel
In this episode of Capital Hacking, Josh McCallen interviews Kyle McCorkel, an industrial engineer turned full-time real estate investor. Kyle shares his journey of building a machine to find deals and add to his portfolio, how he finances those deals, and partners for success. He also discusses his passion for helping others achieve financial freedom and how he and his family are charting their course towards it. If you're a learner interested in real estate investing, this episode is a must-listen!
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[00:01:28] Building a wholesale machine.
[00:03:58] Passive income and real estate.
[00:08:00] Tracking real estate cash flow.
[00:11:34] Unique portfolio tracking method.
[00:14:56] Direct mail marketing strategy.
[00:17:49] Targeting strategies for leads.
[00:21:15] Buy and hold acquisition drought.
[00:25:16] Real Life Rentals and Twitter.
Kyle, the guest, began investing in real estate in 2015 while still working and consulting. He was searching for ways to generate passive income and stumbled upon real estate as a viable option. He started purchasing his own properties and continued working until around 2019 when he reorganized his finances and began living off his wife's income. This allowed him to focus full-time on expanding his real estate portfolio, which now includes 54 rental units, a wholesaling business, and property flipping. His ultimate goal is to reach a point where his wife can also leave her job, achieving financial freedom for their family.
Kyle's current focus is on building his wholesaling business, flipping properties, and acquiring as many rental properties as possible. He has already left his job and is working towards expanding his portfolio even further. He rearranged his finances and was able to live off his wife's income, which allowed him to concentrate on building his real estate portfolio full-time. His ultimate goal is to achieve financial freedom for himself and his family.
Kyle believes in trying new things and being willing to fail. He acknowledges that he tries something new all the time and feels like he fails 99% of the time. However, he believes that even if you succeed 1% of the time, you can start to do some pretty cool stuff. Kyle's business plan has grown organically, and he admits to feeling around in the dark sometimes. He has built a robust business plan that focuses on building the machine to acquire properties, rather than just acquiring them. Kyle's ultimate goal is to reach a point where his wife can leave her job.
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