210: My First Deal Changed My Life! A Newbie Show with Sunny, SunMarie, and Sam

Jan 19, 2017

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Can a single real estate deal change your life? Definitely! That’s the topic on today’s “newbie episode” of the BiggerPockets Podcast, where we sit down for several interviews with real estate investors who have just purchased their first deal. In the first interview, you’ll hear how Sunny and SunMarie Burnsused a fantastic “house hack” to invest in an extremely high-priced area. In the second interview, you’ll hear how Sam Valme was able to house-hack his home into a vacation rental that throws off massive cash flow each month. These stories are incredibly inspiring and full of tips that can help new AND experienced investors achieve more in their business!

In This Episode We Cover:

Sunny and SunMarie’s Segment:

How Sunny got hooked to the podcast
Why you should consider buying a fourplex as a first property
How to find these deals
Thoughts on the competitiveness of the real estate market
How to use house hacking to earn extra cash
Why you should always look out for holding costs
How real estate helped Sunny and his family

Sam’s Segment:

How his mom unknowingly gave him a ticket to real estate investing
How he turned the basement into a rental unit
Tips for making the financing work on a deal like this
Why he used an FHA 203K for financing
The benefits of using Airbnb to rent your property
How to price Airbnb rentals the right way
How to use electronic locks and automate the process
His worst tenant experience ever
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert T. Kiyosaki
The ABCs of Real Estate Investing by Ken McElroy
The Millionaire Real Estate Investor by Gary Keller
The E-Myth Revisited by Michael E. Gerber
Outwitting the Devil by Napoleon Hill
The ONE Thing by Gary Keller and Jay Papasan
The Book on Managing Rental Properties by Brandon and Heather Turner

Tweetable Topics:

“House hack and get your tenants to pay your rent, mortgage, and taxes.” (Tweet This!)
“Hard work just isn’t enough. You need to figure out the why.” (Tweet This!)
“Imagine your perfect day and then, work backwards from there.” (Tweet This!)
“It’s better to fail 50 times trying to figure out what you want to do than to sit back for an entire year thinking about it.” (Tweet This!)

Connect with Sunny

Connect with Sam

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