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Real Estate Rookie

213: Living for “Free” with 63 Self-Storage Units w/Nate Weintraub

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.71.8K Ratings

🗓️ 31 August 2022

⏱️ 70 minutes

🧾️ Download transcript

Summary

The older you get, the more you realize how much life costs. As a kid, it's easy to take for granted the free rent and free meals, but what if you could get back to that? What if you could live mortgage or rent-free as an adult? What if you could have your meals paid for on someone else’s dime? In today’s episode, our guest, Nate Weintraub, shares how he lives for “free” with his three properties that total sixty-five units. With a real estate investor as a father, Nate has always been around rental property investing. He never saw himself getting into real estate until he worked his first W-2. After seeing the realities of a nine-to-five, Nate decided to buy a property after college and pursue real estate. In March of 2020, he put a house under contract in Rochester, New York. Since then, he has purchased a sixty-three-unit storage facility in Alabama and is currently house hacking in Florida. As Nate works toward financial freedom, he has made steps toward reducing his cost of living while still living a life he loves. In addition to being an investor, he does what he loves as a self-employed copywriter—BiggerPockets’ copywriter in fact. At only twenty-four, Nate lives rent-free in his house hack, his rental property covers most of his food, and his real estate investment trusts pay for his car.  In This Episode We Cover Analyzing and choosing an out-of-state market to invest in (w/o visiting them) Self-managing and how to build a trusting relationship with your tenants  House hacking and how to use it to live rent-free while building wealth Self-storage investing and how to break into a newer, bigger asset class Finding reliable and trustworthy partners and how to manage your partnerships The importance of talking about your real estate aspirations and how to generate more business through conversation And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Podcast Zillow $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne Real Estate Rookie Facebook Group How to Cut Expenses for a Faster Route to Financial Freedom BiggerPockets Calculators Easy Storage Solutions Stessa Roomies.com Yelp SquareFoot QuickBooks On the Market Podcast BiggerPockets Forums Airbnb Connect with Nate: Nate's Instagram Nate's Email Nate's Website Check out the full show notes here: https://biggerpockets.com/blog/rookie-213 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Real Estate Rookie, episode 213.

0:05.0

I don't count on any of the income that comes from the rental or the storage facility as, like, true income.

0:10.0

I don't touch it. It's just for reinvesting for right now.

0:13.0

But in my mind, I can't allocate that stuff.

0:16.0

So basically, I'm living for free right now in the house hack.

0:20.0

The rental property covers most of my food every month.

0:24.0

And I invested in a bunch of real estate trusts, which you can invest in in the stock market and that pays for my car.

0:29.0

So we're slowly taking the things off with each property that comes up.

0:33.0

It kind of becomes, like, how much easier?

0:36.0

How can I live my life for free?

0:38.0

And if you keep your expenses down to a pretty low amount, it's very easy to do that with a small amount of properties.

0:45.0

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

0:49.0

And welcome to the Real Estate Rookie podcast where every week, twice a week, we bring you the stories, inspiration and information you need to kickstart your real estate investing journey.

0:59.0

And if you guys have not yet done this, you would really, really appreciate an honest rating and review for the podcast on Apple Spotify or wherever it is, you consume this content.

1:08.0

And before we get started, I just want to highlight a recent review that came in.

1:12.0

This one's from a scriminator.

1:14.0

And a scriminator said every episode is unique. I'm glad you guys do what you do. I'm addicted.

1:19.0

I discovered you guys three weeks ago, and I've been binge listening and catching up.

1:24.0

At least soon, I can share my success story with you. So guys, we appreciate all the honest ratings and reviews, helps us reach more like minded investors, just like yourselves.

1:33.0

So Ashley Care, let's get into some boring banter. Tell me what's going on. What's new in your world today?

1:39.0

Well, while we were actually recording this podcast, I was having an inspection done by a home inspector on a lake house that I have under contract.

1:49.0

And this is the first time that I've actually hired a home inspector and probably five years, I think.

...

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