Don’t have enough money to buy rentals? Neither did Brandon Tilson. As a social worker, he was never on the higher end of the income scale, but thanks to some serious side hustles, he now has eight rental units in just two years! How did he do it while working full-time and having a family to feed? Today, we’re talking to Brandon about why ANYONE can invest in real estate, no matter your experience, salary, or cash in the bank.
Brandon doesn’t have just one side hustle, or two, or three—he has five separate side hustles, leaving him with six jobs to take care of. It’s no surprise that Brandon works anywhere from sixty to eight hours a week, but it’s all been worth it for him, especially after seeing his real estate holdings go from zero to eight rental units in an extremely short period of time. Now, he’s less than ten years away from financial freedom, allowing him to retire early if he wishes to at just forty-five years old!
Brandon gives crucial advice for anyone trying to invest in today’s market, even with higher interest rates. We talk about different side hustles that bring in extra income, how he funded his first deal, what to do when your renovation becomes a “trainwreck,” and whether or not getting your real estate license is worth it. Plus, why investing alone is much harder than doing it with a partner (or spouse!).
In This Episode We Cover:
How Brandon scaled to eight rental units in just two and a half years (even on a lower income!)
Making extra income every month with real estate (and non-real estate related) side hustles
Using a HELOC (home equity line of credit) vs. a cash-out refinance for your first rental
Whether becoming a real estate agent is worth it as a part-time side hustle
Finding your financial independence number and why it’s crucial to know how much you need to be set for life
Why you should not DIY your home renovation (even if you have the time)
And So Much More!
Links from the Show
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Episode #1,009 Invest in Turnkey Properties with REI Nation
Get Started with “The Book on Rental Property Investing”
Find an Investor-Friendly Agent in Your Area
See Dave at BPCON2024 in Cancun!
6 Rental Properties in 15 Months (While Working 3 Jobs!) w/Brandon and Dani Tilson
Connect with Brandon
Connect with Dave
(00:00) Intro
(01:31) Investing While Working 6 Jobs!
(07:24) First “Trainwreck” Deal
(16:17) Second “Turnkey” Property
(19:33) Becoming an Agent?
(23:13) His Financial Freedom Number
(26:08) Investing On a Low Income
(29:13) Early Retirement at 45!
(32:06) Advice for New Investors
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1009
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BiggerPockets Real Estate Podcast