From $29K to $1.5M and Fast-Tracking Financial Freedom w/ Rentals
ฝัง
- เผยแพร่เมื่อ 1 ก.ค. 2024
- Episode #321
If your end goal is financial freedom, investing in real estate is one of the best ways to get there. But, if you want to reach that goal sooner rather than later, you may need to leverage several strategies at once. Today’s guests were able to fast-track their journey to financial freedom by doing just that!
In this episode of the "Real Estate Rookie" podcast, we’re chatting with husband-and-wife real estate duo Joe and Andrea DelGrosso. Their investing journey started back in 2016 when they bought a single-family rental without knowing very much about real estate. Although they initially invested for some extra financial stability, their focus shifted in 2019. As they started tuning into BiggerPockets and educating themselves about real estate, they realized that there were ways to expedite their path to financial freedom-tapping into equity to turn tens of thousands into MILLIONS.
Today, the DelGrossos have a modest portfolio of ten properties. Stick around as they share how they were able to create multiple revenue streams from a single property, as well as why they made the transition from long-term rentals to short-term rentals. For rookies who are still deciding on which real estate strategy to use, they touch on everything from 1031 exchanges to BRRRRs and more!
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Hear Our Recent Interview with Mike Michalowicz:
www.biggerpockets.com/blog/ro...
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Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments w/ Avery Carl: www.biggerpockets.com/blog/bi...
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Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/ Chad Carson: www.biggerpockets.com/blog/ro...
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Connect with Joe and Andrea:
BiggerPockets: www.biggerpockets.com/users/j...
Instagram: @southernsonsproperties or / southernsonsproperties
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Ashley: www.biggerpockets.com/users/e...
Tony: www.biggerpockets.com/users/t...
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or / wealthfromrentals
Tony: @tonyjrobinson or / tonyjrobinson
Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
06:05 Getting Into Real Estate
16:29 Buying the First Rental
20:50 $29K to $1.5M!?
27:39 Financial Freedom w/ Short-Term Rentals
35:37 Rookie Request Line
39:49 Rookie Exam
44:39 Connect with Joe and Andrea!
Create a LLC and use investor loans so you don't worry about dti. The loan is based on the properties cashflow not personal income/expenses.
I really enjoy all the BP podcasts, but there is something really special that you guys have - honestly communicating on all levels. I’ve finally convinced my husband that real estate will be our retirement by using some of your examples. Keep up the inspiration and thanks for your hard work❤
Wow - thank you so much! That communication is what it's all about :)
Very inspiring episode with Joe and Andrea. Wishing them success with the growing family and Real Estate endeavors. Thanks
I love your wife's creativity, Imma use that idea😊
From your first condo purchase to a mix of long-term and short-term rentals, you've come a long way. I can relate to wanting to speed up financial independence. Your tools for managing properties are cool, and I'm sure lots of folks will find them useful. Keep it up!
Im glad Tony shared their personal story about their primary home , mines is surely being held off until i het my investment properties out the way
Keep up the great work Joe and Andrea!
Thank you so much! Appreciate the support!
Great content!
I absolutely love this podcast. I am a Bartender 2 days a week in a high end area in Orlando. I am also a Real estate agent 3 years in the biz. Thanks for all the awesome information. You guys are very current. 5 stars
Such a great episode 🔥
Damn Tony's set up is upgraded
Right?!? It looks like a professional commercial studio over there!
FiNancial
I was impressed that his father, a teacher, taught him about the power of real estate while he was still working as a teacher. Good Podcast !!
We hear a lot of investors take equity out of the home. But what is the amount left afterward by the time you pay the lenders, ect for cashflow on a long term rental? We currently can refinance a flip we just did that would profit a lot by selling it and then immediately buying 2 more homes that already cashlow. Why would you pull out money to barely cashlow just to buy another home?
Brrrr method you take the cash out and go buy an investment property while keeping the roof over your head.
It depends on how much equity your initial house has and how much you take out. Barely cash flowing is probably not good but it’s better than letting your money devalue (equity) by not putting it to work. Houses will appreciate (ideally) and grown your money.
Good timing ⏱️