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Real Estate Rookie

225: Tiny Homes, Huge Profits: $6,000 a Month from 1 Property! w/Josiah Hein

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.71.8K Ratings

🗓️ 12 October 2022

⏱️ 51 minutes

🧾️ Download transcript

Summary

Life is unpredictable, and there's no way to get around that. Instead, you have to learn to pivot and accept where you are, so you can get to where you're going. Today’s guest, Josiah Hein, was hit with life’s unpredictability when he was in a car accident with a drunk driver, resulting in damage to his neck and back. Josiah could have easily used the accident as a reason to give up, but instead, he took it as an opportunity to pivot and build another business. Josiah has closed on three deals, including a tiny home that alone cash flows $6,000 a month! Josiah's first business required strenuous physical labor, so after his accident, he couldn't work as much. He used his newfound time to start learning about real estate. He had always considered real estate as a long-term retirement plan, but his plan suddenly got expedited. He started investing right before COVID by converting his old house into a rental property. His portfolio also includes an out-of-state property and a tiny home. He was inspired to invest out-of-state after reading David Greene’s Long-Distance Real Estate Investing. After five months of researching to find an out-of-state market, he settled on Tulsa, Oklahoma. He also has a lucrative tiny home bringing in some serious cash flow every month! In This Episode We Cover Using a setback as a setup and how to pivot when life gets unpredictable Finding “hot” markets and what criteria to look for Doing a profitable cash-out refinance and the BRRRR strategy Self-managing short-term rental properties and using listing sites like Airbnb to rent out your property Tiny homes 101 and the benefits that go beyond having a mini-mortgage Buying out-of-state investment properties and how to manage your rental remotely And So Much More! Links from the Show Ashley's Instagram Tony's Instagram Airbnb BiggerPockets BiggerPockets Calculator Real Estate Rookie Facebook Group The Real Estate Podcast BiggerPockets Forums Real Estate Rookie Podcast Play the Game or Get Played: Using Paternal Instincts to Close on 17 Units Zillow The Real Estate Robinsons Youtube Channel Vrbo CDS Rental Calculator Robuilt’s Tiny Houses That are Cashing in MASSIVE Profits Every Month Connect with Josiah: Josiah's Instagram Josiah's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-225 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.

0:02.0

Yeah, and so that is the thing, like a lot of people they just see the end result and so they don't see the work

0:07.4

It's just like with my out-of-state rental, you know

0:09.5

I did spend five months just researching different markets and digging in and making offers on properties before I finally found something that worked out and

0:19.5

You know when we started looking at the Airbnb

0:22.5

I mean it was about a year from the time we started looking at them to when we finally got it on our property and all set up and stuff

0:29.2

My name is Ashley Care and I'm here with my co-host Tony Robinson and welcome to the Real Estate Rookie podcast where every week

0:36.4

Twice a week we bring you the inspiration

0:39.2

Information and stories you need to hear to kickstart your investing journey

0:42.8

And we oftentimes like to start the podcast with some reviews from folks in our rookie audience and today's review comes from Ashley

0:49.2

Nichols and she says to give this podcast less than a five-star review is pure insanity

0:56.3

I appreciate that enthusiasm Ashley says I've listened to every single episode and every single one is full of so many gyms

1:03.4

Tony and Ashley are literally out here giving out free game and changing people's lives if you're a rookie investor

1:09.3

The information they're exposing you to is exactly what you need to help master your mindset and take action to achieve your real estate

1:16.8

Investing goals

1:18.0

Ashley we appreciate you for for the kind words and if you are listening and you haven't left this in

1:23.1

Honest rating review on whatever platform it is you're listening to you do it right now the more reviews

1:27.4

We get the more folks we reach the more folks we reach the more folks we can help and that's our goal here

1:32.0

Isn't that right Ashley Care? We want to help people right and Tony you are so

1:36.7

Ethical by saying an honest review when I say a five star review five stars. You don't like one

1:44.8

I think because I also get joy from like reading the the mean tweets about us to so it's like, you know

1:49.5

If you guys want to say something and we can do that too, but it's so funny every time that like I get with people in person

...

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