237: The Cash-Flowing Car Wash and Early Retirement Through Creative Real Estate w/Daniel Schiermeyer

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.7 • 1.8K Ratings

🗓️ 23 November 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

The beautiful thing about building wealth is there’s not just one way to reach your financial goals. This is where your creativity and ambition come into play. Today’s guest, Daniel Schiermeyer, built his residential portfolio and then leveraged that to buy businesses, with more ways to cash flow than we can count! Daniel started getting into real estate after college when he read The Automatic Millionaire. He prioritized living cheaper, and in Charlotte, it was cheaper to buy a house than to rent, so he bought his first house at twenty-nine. With a thirty-year mortgage on his first house, Daniel realized if he bought a house every year or two, by the time he was sixty, he could pay off all the houses and have a strong retirement plan. His real estate portfolio consists of two townhomes, a duplex, a self-storage facility, and businesses to boot! Sticking to residential real estate was the plan until Daniel drove by a car wash for sale with his brother. His brother encouraged him to pursue it, so they called the number on the “For Sale” sign. Once they talked to the broker, ran the numbers, and walked the property, they realized the numbers made sense. Now, he’s got a cash-flowing car wash and residential and commercial real estate all while chasing financial freedom! In This Episode We Cover Using real estate to build a retirement plan and why real estate is the ultimate payday Analyzing commercial real estate deals and how to determine potential growth Purchasing land vs. purchasing a business and why it’s beneficial to buy both How to run a business and why self-education is essential Self-storage investing 101 and how to create value in the self-storage space Building a real estate investing business plan and the key things you need to succeed And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Monday.com BiggerPockets LoopNet BizBuySell MLS $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne AJ Osborne’s Instagram The BiggerPockets Real Estate Podcast Self Storage: The Misunderstood Money Maker Most Investors Overlook 4 Key Ways to Build Wealth in Real Estate Connect with Daniel: Daniel's Instagram Daniel's Facebook Profile Daniels BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-237 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 237.
0:05.0	I think it, I like going the residential way,
0:08.0	like getting a house or two, a two-plex, some small.
0:11.0	It builds you a little bit at Portfolio.
0:13.0	It gives you a little bit of experience.
0:16.0	And then like I said, I wouldn't have been able to buy a commercial business
0:20.0	if I didn't have rentals because I need to use it as collateral.
0:23.0	So it's a great way to buy a property
0:26.0	and if you can make it cash flow and somebody else is paying down
0:29.0	your mortgage and building you equity,
0:31.0	that's just going to help you when you want to try to buy something bigger in the future.
0:35.0	My name is Ashley Care and I'm here with my co-host, Tony Robinson.
0:39.0	And welcome to the Real Estate Rookie podcast
0:41.0	where every week, twice a week, we're bringing you the inspiration information
0:44.0	and stories you need to hear to kickstart your investing journey.
0:47.0	And this week I want to shut out one of the folks in our Rookie audience
0:50.0	his name is Zach.
0:51.0	And he left a podcast review saying, love this podcast.
0:54.0	I've been a listener for the last two years
0:56.0	and I've really soaked up a ton of information from these two.
0:59.0	I've learned so much. I'm a full-time agent
1:02.0	since the pandemic and I've done two flips since then
	...

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