107: 10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 25 August 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

We have lots of fun phrases in the real estate community, phrases like house hacking, live in flipping, and BRRRRing. Now, we may have one new phrase to add...land hacking. Kai Andrew describes land hacking as extracting as many income streams as possible from one piece of property. That means having the main house for long-term rentals, a small ADU for short-term rentals, a glamping tent in the back, and potentially some farmland being rented out as well. Only someone as creative as Kai could come up with this sort of strategy. In fact, Kai started out house hacking for his first real estate investment at the age of 21. He rented out to family members and friends before he saved up enough cash to start buying short-term rental properties around his local area of Portland, Oregon. As his short-term rental portfolio began to grow, Kai started investing in more “unique” opportunities, like shipping container homes, glamping, or A-frame builds. He also set up criteria that he terms “the golden triangle” for all his unique experiences. These unique homes have helped him grow his portfolio, his profits, and take home a sizable amount of equity between his 12 doors. In This Episode We Cover Why house hacking is still a relevant strategy in today’s market How to convince your partner/parents/friends to invest with an investor presentation Airbnb arbitrage (rental arbitrage) and building your business with no home purchase necessary Land hacking and using a single property for many income streams Creating a “golden triangle” for your unique short-term rentals Setting up safety nets so you never have to realize your “worst-case scenario” And So Much More! Links from the Show Real Estate Rookie Podcast Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram BPCON2021 Craigslist Zillow Airbnb Vrbo TONY ROBBINS Check the full show notes here: https://www.biggerpockets.com/rookie107 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode number 107.
0:07.2	You needed substantial down payment to get you to get into a home,
0:09.8	and so especially when it's an investment property, sometimes 20 to 40%.
0:13.2	This was our way to get into properties and to utilize an leverage
0:17.6	on the cash flows from children's rentals without actually having to purchase them.
0:24.4	My name is Ashley Care and I'm here with my co-host,
0:27.4	Tony Robinson, and we are getting even closer to the bigger pockets conference.
0:32.4	I am super super excited to finally get in person with all of the Rookie listeners and
0:37.2	just kind of meeting shake hands and talk real estate for for three whole days,
0:41.2	so it's going to be a fantastic time.
0:42.7	Yeah, I can't wait just to talk real estate non-stop for three days.
0:48.7	So it'll be a good time.
0:50.0	And you guys send a Tony and I message or reach out to us if you guys are going to be joining us
0:54.8	at the bigger pockets conference. We can't wait to see you guys. There's so many
0:58.1	cool things planned in the evenings and tons of great sessions throughout the day.
1:02.7	So we really look forward to having you guys there.
1:05.4	But today we are talking a Tony's jam here. We are talking short-term rentals with Kai.
1:12.0	And Tony, what was your favorite takeaway?
1:14.0	So Kai's got so many like golden nuggets throughout this episode.
1:18.0	And Kai's a YouTuber, he's a real estate investor, and he's just got like a really,
1:22.1	really, I think, articulate way of doing business. Like he articulates that really well.
1:26.5	But he talks about how he got started with like house hacking back in 2008 and how that he built
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