Using Turnkey Rentals to Build a 28-Unit Real Estate Empire
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- เผยแพร่เมื่อ 4 ส.ค. 2024
- As a rookie, turnkey rentals are the perfect gateway investment. Today’s guest, Daniel Shin, started with turnkey properties to ensure a low risk investment and has now graduated to more high risk investments to build his real estate empire.
As a child, Daniel was fortunate enough to live the ideal suburban lifestyle, but when his dad got laid off during a recession, things quickly changed for the worse. After seeing his parents struggle to put food on the table, young Daniel decided he would do everything he could to prevent himself from being in a similar situation financially. Once Daniel started making his surgeon salary he assumed he’d be financially stable, but he began to expand his lifestyle to his salary and started drowning financially. It was at this point he decided to turn to real estate investing.
He started by listening to BiggerPockets and decided investing was for him once he realized he could reach financial freedom faster through real estate. The first couple properties he invested in were turnkey properties. With less risk, Daniel felt it was a comfortable start to his investing journey, but after a while he wanted more of the action. Over the last three years, he has acquired about twenty-eight units including four duplexes and two small apartment buildings. Daniel is now focused on building his “real estate empire” while becoming financially free.
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Join the Real Estate Rookie Facebook Group:
/ realestaterookie
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Listen to Episode 29 with Whitney Hutten to Learn More About Turnkey Properties:
www.biggerpockets.com/blog/ro...
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How to Begin Earning Passive Income From Real Estate:
www.biggerpockets.com/blog/pa...
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6 Tips to Live on Half Your Income:
www.biggerpockets.com/blog/6-...
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Check Out Daniel’s Website and Learn More About Him:
thedarwiniandoctor.com/
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Get in Contact Daniel Through Instagram:
@thedarwiniandoctor or / thedarwiniandoctor
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Check out Daniel’s Tiktok:
@thedarwiniandoctor or / thedarwiniandoctor
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Connect with Tony and Ashley on BiggerPockets:
Ashley: www.biggerpockets.com/users/e...
Tony: www.biggerpockets.com/users/t...
Episode 151
Show notes at: www.biggerpockets.com/rookie151
0:00 Intro
6:53 Financial Freedom & The Golden Handcuffs
12:11 Getting Your Personal Finances Together
19:25 Daniel's Current Portfolio
22:24 The Benefits of Turnkey Properties
32:09 Transitioning Away From Turnkey and Into BRRRRing
33:58 Rookie Deal Review
46:31 Mindset Segment
49:56 Rookie Request Line
53:11 Rookie Rockstar
Entertaining to hear other people putting their own fears onto your project Ashley. Happens at all levels.
My side hustles: mobile notary public, professional résumé writer, Uber Driver, and Real Estate Investor. I work as an HR Professional full-time. All side hustles help me invest in real estate.
you got kids?
you got family?
@@wilkasa6414 No. I'm engaged though.
I work as an operating room nurse and it is amazing to think that he is doing this and operating. His demeanor is also very calm, I hope it’s the same in the operating room too.
A lot of wisdom and knowledge on this podcast Love it.
This was fantastic and really hits home!
Very valuable thank you so much
Got lots of value from this video 😊
Congrats on the campground!!
He's buying in Brightwood? That's gang central in Indy, 😆. Good luck, brotha.
Omg! 10 minutes in and my story is exactly the same...so curious how it unfolds. :)
What was the net cashflow of the duplex , ? Monthly
Great video! But I would like to know how you do all this with a full time job as a surgeon! How do you make time to talk during the day with agents, prop managers, contractors, etc, especially when there is a 2-3 time difference.
There's a surprising amount of time before work, during my lunch break, and after work for me to communicate with my team!
Turnkey Properties - Toilet repairs Roof Leaks and tenants from Hell 🤣🤣🤣🤣🤣🤣
What was the name of the Turn Key company he used?
Ashley...shouldn't that be 29eeer!!! 🤣🤣🤣
i'm itching to get started but my market is brutal. i live in MA. ive been outbid 3x times in the last week. considering going out of state to start investing. i have a construction company here in MA and about 600k to invest. i've been looking at Texas to BRRR. does anyone have any other recommendations for locations? i'm willing to fly out and check out places
This seller’s market is wild
reading about people grabbing multi-figures monthly as incomes in investments even in this crazy days in the market, any pointers on how to make substantial progress in earning? would be appreciated
Tony, impressive with the buying of one property each month. Please share the details on how you are finding the properties and how you are financing the acquisitions. These are too important of details to simply gloss over it.
Also please tell Ashley to tone down her fake happiness. Her constant laughing is highly annoying.
Get better Ashley
Up to min. 8:32 Independence doesn't exist. Financially independence either. What we can try to be is, an enough income generator or a recipient. To be financially independent would required to have our own currency, and all resources under our control, or to be the producers of everything that exist that we may need. The minute we need an apple, or some milk, or anything, even with enough income, if we have to change out money for that object we are not independent, we will depend on the farmer and all the infrastructure that gets the apples closer to us therefore we may be happy if we make enough income. Then there is still taxation we need to manage, control or try to eliminate to be more independent or self sufficient. But independent is a utopia only God can be, yet he shares this universe.
Up to min 15:15 Just buy the luxury, when you are forced to do it, not when you have the money to do it. And only buy the luxury when you have more than enough generation of income that can pay for your basic expenses for some years, non taxed, then if you want you may feel you are forced to pay taxes then that is being forced to buy something, then buy luxury if also, you have enough funds to maintain it. Because what do we do if we know we'll have lets say 10 years of our lives, our last years, when we will need to use our money yet, we spent whatever amount un luxury that now we don't need as we need the funds for our basic expenses? Even if we get to own enough to cover our last years, what I mean is, is more important to me to assure me enough yearly funding for certain amount of years and have that money not taxed so I can have it when I get old, than to have luxury any time during my life.
That is something maybe some would like to change.