College Dropout Making $7K/Month Cash Flow From Just 3 Properties
ฝัง
- เผยแพร่เมื่อ 3 ก.ค. 2024
- Many people buy rental properties for the cash flow, but today’s guest took it to another level-dropping out of college to go all-in on real estate investing. Find out how he brings in several thousand dollars of profit each month and how YOU can replicate his investing strategy!
Welcome back to the “Real Estate Rookie” podcast! Like many new investors, Bailey Kramer started out small-converting long-term rentals into Airbnbs and co-hosting these properties for someone else. After seeing how much money this investor was raking in, Bailey decided that he wanted his own piece of the short-term rental pie. Within eighteen months, he had built his own small portfolio with a focus on cash flow. Today, his three properties bring in a total of $7,000 each month in addition to all of his co-hosting profits!
Tune in as Bailey delivers the blueprint he uses to maximize his cash flow. The best part? This strategy is EASY to implement, whether you’re investing in your own backyard or another market entirely. We also get into DSCR (debt service coverage ratio) loans, how to build an out-of-state investing team, and the method Bailey uses to find the perfect neighborhoods to invest in!
~~~~
Join BiggerPockets for FREE 👇
www.biggerpockets.com/signup?...
~~~~
Join the Real Estate Rookie Facebook Group:
/ realestaterookie
~~~~
Find an Investor-Friendly Agent in Your Area:
biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
biggerpockets.com/findlenders
~~~~
Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units:
www.biggerpockets.com/blog/ro...
~~~~
Seeing Greene: How to Make Even MORE Cash Flow Off Your Rental Properties:
www.biggerpockets.com/blog/re...
~~~~
Cash Flow for Rental Properties: What Is Average or Good?:
www.biggerpockets.com/blog/re...
~~~~
Find a DSCR Loan with OfferMarket:
www.offermarket.us/
~~~~
Connect with Bailey:
BiggerPockets: www.biggerpockets.com/users/b...
Facebook: / bailey.kramer.986
Instagram: @the_bailey_kramer or / the_bailey_kramer
TH-cam: / @baileykramer
~~~~
Connect with Tony:
BiggerPockets: www.biggerpockets.com/users/t...
Instagram: @tonyjrobinson or / tonyjrobinson
Show notes at: link.chtbl.com/Rookie
00:00 Intro
00:42 Bailey’s Portfolio & Finding His Market
07:11 HUGE Cash Flow & Co-Hosting 101
12:51 Buying His FIRST Property
20:56 How to Invest Out of State
25:24 The “Reverse Review” Method
31:42 Renting to Insurance Companies
41:37 Numbers on the Triplex
44:46 Connect with Bailey!
Thanks so much for allowing me to share my real estate journey!!😁
Bad ass story man! Your hustle is incredible, I'd love to connect with you. Where is the best place to connect?
❤❤thanks Bailey for sharing your amazing story. I’m inspired and will take action!!
That's AMAZING to hear!!! You got this!!!
@@bossladybee8323
Thanks so much!!@@bossladybee8323
Great work! I own one single family house currently in Bloomington, Indiana. We go to Terre Haute a few times a year.
Keep up the great work, Bailey!💙
Good job bro, I’m about to move into the MTR space real heavy as well…..nice tips….. keep crushing…..
Wow. Incredible. Thank you.
Glad you enjoyed (:
Amazing interview
Thanks 😃
23?! You’re doing great Bailey! Definitely inspirational!
Truthfully bailey, your a different kind of man. Resourceful is an understatement. 26 from NY and finding these types of deals are next to none and makes me pull my hair bro. That cashflow wont be immediate catering next to NYC because nothing is presentable & everything is overpriced.
I had a good Airbnb townhouse in NC with triple the long term rental. However, I had to shut it down due to ghetto people trashing the place, smoking and throwing trash outside. While STR brings more money, I’m happy with good long term tenants giving me a peace of mind.
Terre haute is a college town Indiana state.
That is correct!
@@baileykramer do you see STR demand around Union Medical Hospital and the new casino in Terre Haute
I need to reach out to you. I live right out side of Raleigh as well. Im looking to begin investing in to real estate. I could get a lot of knowledge talking to you
Spoke kind of fast at 38:21 couldn't understand what companies you were saying. Can you say what the company names are here? Please and Thanks! 😁
ALE Solutions, United Corporate Housing, THD Housing
@@baileykramerThank you
People in there 20s are taking overrrrrrr watch out old heads
Who’s your lender??
Offer market US
Not sure how he gets to 7k a month. If you check Airbnb in those areas/size, the daily rate is under $100. The math is not working.
This proves my point LOL. Everyone in most markets are playing the short term rental game where the average daily rates are low... I'm playing the mid term rental game where I'm getting 3-6+ month leases, and getting tenants to pay top dollar.
I use the mid term rental strategy, so I don't go by "daily rate". My 2 single family homes bring in $3,500/month EACH and my triplex brings in $4,950/month. and they are all rented on a mid term basis LOL. @ARGENTINACC-lb9ph
@@baileykramer this gives me hope.
@@baileykramer show us your 1040 from last year. LOL.
Dont forget you still have to pay a mortgage so technically your not making 7k month
If he made 7k a month - I’d do a video not in a cheap kitchen. I mean.
That's why you wouldn't be making 7k, because your too intrested in what others think.
This was recorded in my triplex LOL
@baileykramer they will never know what it takes. At 38, I'm on my 4th rental and 1 primary and me and my wife drive a 2015 mitsubishi mirage. By consumer standards and appearances, we don't have have much lol.
Nice job!!!! That's awesome! And yep you're totally right lol @@outofthebox5441
@@outofthebox5441you mind me asking brother, how much debt do you owe towards the homes? Where are you located? And what type of home was your first investment?
These headlines are a turn off for me. $7k/month doesn’t sound realistic or obtainable at all. I haven’t listened to the episode yet, but it immediately makes me stand offish
Hey motley I hope you’re having a great day! TBH the reason why it seems unrealistic is because you don’t really know people who make that type of money but tbh that’s not even that crazy in terms of people making money whether if it’s through a job, business or real estate. You should really look into mindset also it affects our life and everything we do
My current job I make: $5000 a month I’m on a mission to replace my current income with real estate
Hey @motley06 It's totally obtainable, but WON'T happen overnight (and didn't happen overnight for me!!). I started learning about real estate almost 5 years ago!!
That's awesome!!!@@KennethTaylor96
Well you just said you didn’t listen to the video wtf😭