Finding Financial Freedom through House Hacking a Fourplex

House hacking provides a way to invest while getting your housing expenses paid for by your tenants. It also immerses you into the world of property management and teaches you how to be an effective landlord. Today’s guest, Andrew Bresee, has found immense success while house hacking a fourplex.
Andrew was infected with the “real estate bug” in his teenage years after reading Rich Dad Poor Dad. While he didn't start his real estate journey that young, he began developing the skills that have made him a successful entrepreneur early on. Being persistent has helped Andrew in more ways than one. In school, he had the opportunity to study abroad in Italy and like many others, he loved it so much he didn’t want to leave. For weeks he continued to ask to stay and for weeks he continued to get rejected, but he refused to take no for an answer. After a while, the administration finally relented and let him stay as long as he agreed to work as a handyman. Had he accepted his fate, Andrew would have missed out on another year in a beautiful country with the love of his life who is now his wife.
When he came back, he lived with his parents, and instead of rushing to get to the next chapter of his life, he took a step back and found an opportunity right where he was. He decided to convert his parent's basement into an apartment that they could eventually rent out. While it took six years to complete, it currently cash flows and gave him experience with the rehab process. After that, he found the fourplex that he lives in now which cash flows about $1,200 a month! He found his current fourplex after he didn't qualify for a fourplex he thought was "perfect". Opportunities can be found in any failure or redirection-you just need to look hard enough.
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Join the Real Estate Rookie Facebook Group:
/ realestaterookie
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Persistence is a Virtue:
www.biggerpockets.com/blog/20...
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The Entrepreneurial Cheat Sheet:
www.biggerpockets.com/blog/wp...
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How to Improve Your Ranking in Airbnb Search Results:
www.biggerpockets.com/blog/ra...
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How to Choose the Right Market to Invest in Short-Term Rentals:
www.biggerpockets.com/blog/ho...
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Follow Andrew on Instagram:
@andrewbresee or / andrewbresee
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Connect with Andrew on BiggerPockets:
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Connect with Tony and Ashley on BiggerPockets:
Ashley: www.biggerpockets.com/users/e...
Tony: www.biggerpockets.com/users/t...
Episode 163
Show notes at: www.biggerpockets.com/rookie1...
0:00 Intro
2:39 Discovering Real Estate at 16
8:09 Preparing For & Buying His First Properties
23:31 Establishing His Short Term & Long Term Rental
32:08 The Logistics of His Fourplex
35:04 Mindset Segment
40:15 Rookie Request Line
46:32 Rookie Exam
56:15 Rookie Rockstar

[@drdilettante]

Wake up at 50? I almost resemble that remark! lol.

[@twocds4751]

Great interview as usual Tony and Ashley. We purchased a sfh on the outskirts of Nashville and been contemplating a str for sometime now but haven't taken the plunge. We'll look harder this time. Thanks for the motivation!

[@andrewbresee]

Good luck y'all!

[@careya]

This episode should be called “finding financial freedom with a lot of help from your relatives.”

[@Mustach_Mike10]

Savage lambo story

[@Ceddy_T]

🔥🔥🔥🔥🔥

[@funnystories77]

i like Ashley's distressed jeans!

[@gretakaveny1039]

They did not get the four plex because he was not able to get a bank loan or investors cause the investors with cash snatched it