10 Rentals in 2 Years & House Hacking Your Way Out Of The Rat Race
ฝัง
- เผยแพร่เมื่อ 29 มิ.ย. 2024
- If you’re hesitant to start house hacking, ask yourself this-where would you be now if you started ten years ago, and where could you be in ten years if you started today? As today’s guest, Brandon Rush, said, “everything you enjoy today, is the result of something you did five to ten years ago.” Brandon currently has three multi-family homes with a total of ten units.
Brandon started his investing journey when he couldn’t see the light at the end of the tunnel with his W-2. He couldn’t imagine himself working a nine-to-five until sixty-five, so he decided to take his future into his own hands and started house hacking. After two years of hard work and planning, he was able to quit his W-2 a month ago to be a full-time real estate agent.
Brandon’s success is not without sacrifice. He moved out of his single-family home and moved an hour away from work for his first house hack. And, of course, after his first house hack, he moved to his second house hack! Moving required Brandon and his wife to get rid of most of their things and travel lightly. Although moving and getting rid of material things can be difficult, for Brandon, getting rid of clutter helped clear his mind and reinforced the idea that he was on the right path. Brandon is confident in his investing choices because he surrounds himself with like-minded people, has built an investor-friendly network, and knows that all his decisions now will benefit his future self.
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Join the Real Estate Rookie Facebook Group:
/ realestaterookie
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Try the BiggerPockets Calculators on Your Next Real Estate Deal:
www.biggerpockets.com/rental-...
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Multifamily Deal Analysis and What to Know Before You Buy:
www.biggerpockets.com/blog/mu...
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The Key to a Good Tenant Relationship:
www.biggerpockets.com/blog/20...
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An Intro to House Hacking-Here’s How I Get Paid to Live For Free:
www.biggerpockets.com/blog/ho...
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Get in Contact with Brandon Through Facebook:
@RushDPI or / rushdpi
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Follow Brandon on Instagram:
@brandonrdpi or / brandonrdpi
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Connect with Brandon on BiggerPockets:
www.biggerpockets.com/users/b...
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Connect with Ashley and Tony on BiggerPockets:
Ashley: www.biggerpockets.com/users/e...
Tony: www.biggerpockets.com/users/t...
Episode 221
Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
03:57 Getting into House Hacking & Brandon's Current Portfolio
07:19 First Property and Sacrifices Made
14:10 Advice for New House Hackers and Landlords
21:58 Lease Agreements and Screening Tenants
26:07 Creating an Investor-Friendly Network
28:22 Rookie Deal Review
41:03 Mindset Segment
41:59 Rookie Request Line
44:36 Rookie Exam
46:35 Rookie Rockstar
#biggerpockets #realestaterookiepodcast #episode221
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Always starting my day with a Biggerpockets podcast , whether it’s the money podcast , rookie podcast or the OG podcast , my favorite days are the ones when I get a notification that you guys upload a video with “ house hack “ in the title ! I’m 20 years old and started down this rabbit hole 3 months ago & looking forward to my first house hack ! Keep up the great content !
NUMBERS PLEASE!
Why is there no deep dive into numbers? Did he sell his single family? Did he use the proceeds of that sale to buy his first multifamily? How did he buy the next? Where did that money come from? Financing? Loans? Up grades? Costs? What does he cash flow? He said they make less money now, why?
This is a great interview, but can we have the guest really go deeper on the deal breakdown like what was their down payment, closing costs, points , overhead, etc
Just PP and rooms is not a deal review in my opinion.
Brandon made this episode so easy to watch next thing you know I’m 37 min in lol
I could not have loved this episode anymore than I do. It maybe due to the fact that Brandon is my mentor and him and his wife have been a huge inspiration and have served as a catalyst in my househacking journey!!! They are incredible and I aspire to follow in their footsteps 💯
Thank you sir! Happy I can help you along your journey.
0r4
Love this channel! Thank you!!
This is very inspirational and motivating! Thanks to Brandon for sharing his story.
Wow what a great guest! First time listening to this show and I love it !!
Really great episode!
If I wouldve started this 10 years ago I would've been 10 and probably wouldn't of gotten approved for a loan
🗣Thank so much great job great show
That is what I tell my kids to buy multi-unit and stay in one as a start, no NOA, can do airbnb too when you are not home. They stay with us if needed
I love this channel!
Very informative session.
Great interview with Brandon Rush! He provided some good nuggets in there! Thanks
Dropping nuggets indeed! Thank you.
Great chill glad I clicked on love the hustle and the willingness to sacrifice I am a New Yorker just like him who moved to the same Connecticut love it
Best guest in a while! Great information and an even better laugh!
Thank you!
To do:
- find a house hacking community ( is somebody from germany and wants to connect?:))
- Delayed gratification
- realise its not gonna be easy
- just do something in that direction
- watch your finances, track my expenses.
- start collect cards from people
- if people need somebody give them that person i know, so basically help people around me. ,,Start networking like crazy. Cuz all the ressources are out there. You just need to be out there.‘‘
- if i have a problem with ANYTHING just ask my community the solution to it !!!!!!!
- track my rental expenses for each one individually
- lower my expenses
How would you go about outsourcing the tasks of a landlord and maintaining your anonymity? How would that be set up? Personally I don't want my tenants knowing I'm the owner and having my name show up anywhere. Is this where a trust would come into play? I plan on house hacking a multi family unit and living in 1 of those units for my first property. Also, what's the minimum time required to live in 1 property before moving onto the next?
Hello!!! Been watching bigger pockets for some time now. I would like to get connected to someone that’s likeminded on this topic in NYC/CT.. ❤thank you BP
Good show…. can you get into the mortgage payment and the rental price
350k for a down payment🥶🥶🥶
Any real estate accountants/ attorney’s in the NY area?
I don't understand what role your own cash plays in the brrrr method?
Other than quality of life,
The only thing I can think is, it's like your health bar and when you don't get all of the money out of the cash out refi, you lose some health.
What other roles does it play?
"What gets tracked, gets improved."
There you go! Could not put the words together!
I'd suggest using that money 3.5% in market, learn out of market progressively.
Expensive maintenance or damage can set you back a lot on cash flow. So be careful. Last i had to replace HVAC roof and it cost over $30,000 on my home.
Why not file a claim to your insurance?
@marcusbazan625 you can't claim hvac and roof if it's not a natural disaster
Planting those seeds today that harvest crops 10years later 💎
Amazing discipline to have 🙏🏾
Yes indeed, thinking about your future self makes today's decisions so much easier!
You mentioned a Minnesota buyer going in on a fouplex utilizing househacking and an FHA loan.
Given the prices around Minneapolis, do you think this is feasible for a first time home buyer? I plan on entering the market next spring, and should have about $50k liquid cash ready to invest. I’m attending my first RIA meeting on October 4th
I'm certain in 90% of the U.S. real estate will be deeply discounted by mid next year. We are already starting to see the tide turn!
@@josiahhein6036 I’m kinda hoping so! It will really be more of a reset more than anything due to the absurd growth, but it’ll be very helpful for the younger generation
Hey morgen Just watch your numbers! I currently have 12 rental properties (17 units) but have not purchased a rental property since 2017. Ive been focusing on flips and saving money up waiting for the correction. I’m not suggesting for anyone not to buy an income property right now but it’s nearly impossible to get to cash flow and ROI in this market! My suggestion is look for the best numbers and make sure you have a cash reserve in case of something like Covid where you personally have to cover the mortgage!
@@briangoulet2325 haha ironically I happen to be listening to a bigger pockets podcast saying not to prioritize cash flow immediately.
I’ve matured/learned a bit more since that comment, and currently I’m planning on buying a value add single family partnering with my unofficial mentor as I continue to move my way into real estate management. We’ll probably throw a lot of cash in immediately(don’t worry I personally keep almost a years worth of expenses set aside), improve, and refinance in 2-3 years.
I’m really in the middle of working my way into the real estate community, and I hope to act on opportunities once every year or two for the next 5 years.
I’m very excited to see what 2023 brings us!
1 was able to scale from 0 to 90 units and creative financing was a big way to scale fast. With it becoming a buyers market and people still wanting seller market home prices, creative financing is the win-win situation. Your price, but my terms. If you can master off market lead generation and creative financing, you can scale big in 2023. I still work a W2 as I stabilize my 90 unit portfolio.
How
Cool to have a former NBA player in the podcast 🤪
Been doing rent by the room strategy for 6 years, currently on my 4th home with 20+ rooms. Great cash flow
I also have a free app that helps DIY landlords manage their roommates/room rentals
I love to see like minded people we are in our first house hacked triplex purchased with a VA loan and are scheduled to close on our 4 plex in March fha 203k we love low entry to barrier.
Awe, the guest was hella nervous. It's okay, I'm that same way when my anxiety kicks in. 😂
Is Tony short for something? Tonithon?
He didn’t tell us how to do it
👍🏼
Is this a spin off of bigger pockets or y’all just followed the script?