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Real Estate Rookie

173: $1M in Real Estate in Just 1 Year (and How You Can Do It Too!)

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.71.8K Ratings

🗓️ 13 April 2022

⏱️ 59 minutes

🧾️ Download transcript

Summary

Investing in rental properties can be challenging at first, which is why so many investors tend to take it slow. Tyler Madden had the luxury of NOT being able to do this, and it’s worked out well in his favor. Just over a year ago, we interviewed Tyler on episode fifty-five of the Real Estate Rookie Podcast. At the time, Tyler was an “accidental landlord”, but a lot has changed since then. Tyler found himself in the position to purchase seven units, a mere $1,000,000 or so in real estate, right as his wife was due to deliver their first-born child. While he didn’t necessarily want to handle a full rehab of so many units, he took a “why not?” approach and found a way to make both properties work. Through a lot of sweat equity, Tyler was able to rehab, rent, and refinance these units and come out with a crazy amount of monthly cash flow! If you want to expand your real estate portfolio as Tyler did, listen to this episode intently. Tyler dives deep into the numbers, work, and lessons he learned along the way as he turned seven underperforming rental units into a portfolio any investor would dream of! In This Episode We Cover Relying on data vs. emotions when buying your first rental property Whether or not now is the right time to buy real estate  What’s impacting today’s housing market and using uncertainty to your advantage The best investing moves to make if a recession (or crash) is on the horizon What rookies should look for in a real estate investing market  Buying real estate with a long-term outlook (so you can handle the dips!) And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Youtube Channel Real Estate Rookie Podcast Rookie Podcast 55: Combining House Hacking and Live in Flips with Tyler Madden Airbnb Asana Monday.com BiggerPockets Bootcamp Zoom Connect with Tyler Tyler's Instagram Tyler's Website Check out the full show notes here: https://biggerpockets.com/blog/rookie-173 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Real Estate Rookie, episode 173.

0:05.4

The sooner you realize that everyone in this community wants you to win and wants to

0:13.3

help you win, the more those people you've put around you, the better off you're going

0:17.0

to be.

0:18.0

What do you have?

0:19.0

Zero deals are a thousand deals.

0:20.0

It doesn't matter.

0:21.0

Put people around you that are doing what you want to do.

0:26.0

My name is Ashley Care, and I am here with my co-host, Tony Robinson.

0:30.6

And if this is your first time joining us, welcome to the Real Estate Rookie podcast,

0:33.9

where every week, twice a week, we bring you the inspiration, information, motivation

0:38.3

that you need to kickstart your Real Estate investing career.

0:42.1

Ashley Care, what's going on, what's new?

0:44.4

Well, I'm super excited, first of all, that we have one of our friends on the show

0:48.7

today, Tyler Madden.

0:50.7

Yeah, Tyler's a good friend of both of ours.

0:53.1

Ashley brought him on to the podcast first, and Tyler and I got to meet each other in

0:56.4

person in Denver.

0:57.4

Then he and his spend some time together at Maui, then to get in Vegas.

1:00.2

So love having Tyler on the show, and he's got a really great story to share as well.

1:04.2

Basically, he's still all my friends.

1:07.0

Very true.

...

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