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Real Estate Rookie

287: From 70 Hour/Week Burnout to Getting Paid to Buy Properties w/Danielle Daly

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 17 May 2023

⏱️ 68 minutes

🧾️ Download transcript

Summary

A 36% return on your FIRST rental property? In today’s housing market? That sounds almost impossible. With more and more inventors struggling to find a cent of cash flow and home prices still so high, how does a real estate rookie walk away with a deal most investors could only dream of? The answer lies within Danielle Daly’s strategy, and it’s one that most people would be too picky to repeat. But, if you have the ingenuity to do what she did, you could live for free in an expensive market, collecting some killer cash flow every month. Before this cash cow of a deal, Danielle was a burnt-out hospitality worker who quit her seventy-hour work weeks to make $30,000 per year as a waitress. She wanted the pay of a nine-to-five, without the soul-crushing time commitment so many jobs expect. So, she left sunny Florida on a whim, and headed to snowy Denver, only to end up at…BiggerPockets. She couldn’t resist the real estate bug and got her sights locked on her first property. Danielle spent months looking for the right layout, at the right price, with the cash flow potential she needed. Half a year or so later, she looks back on her first purchase as one of her best financial decisions ever. In this episode, you’ll hear how Danielle turned $30,000 into a half-a-million-dollar property in a pricey market, how she gets paid to live in her own house, and the one thing that helped her achieve investing success faster than the rest. In This Episode We Cover How Danielle makes a 36% return on her first rental (with ZERO experience) The one strategy ANYONE can use to buy a cash-flowing rental property with low money down Ditching burnout and how to know it’s time to leave your job for something better Networking for newbies and how to find lenders, realtors, and tenants Seller concessions and letting someone else “buy down” your mortgage rate Screening tenants and the one software that systematizes your property And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Meet Other Investors At a BiggerPockets Meetup Get Easy Property Management with RentRedi How to House Hack By Renting-By-The-Room Connect with Danielle: Danielle's BiggerPockets Profile Danielle's Email Danielle's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-287 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This is Real Estate Rookie episode 287.

0:05.4

The number one thing hands down that allowed me to be successful and purchased my first house hack was going to networking events.

0:13.8

The more you hang out with and meet people who are in the same industry as you, you're going to become similar, minded, and you're going to see what's possible when you're around people who are doing the things that you want to do.

0:25.2

So that's what I focused on.

0:26.8

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

0:31.0

And welcome to the Real Estate Rookie podcast where every week, twice a week, we're bringing you the inspiration, motivation, and stories you need to hear to kickstart your investing journey.

0:39.1

And as always, you've got another really amazing story for y'all here today.

0:43.1

But today's guest is a little special, a little different from our normal guest where it's actually someone who works at bigger pockets.

0:50.3

So we got Danielle Daly on the podcast today and she's got just an amazing story.

0:54.0

Yeah, so she talks about where she was before she worked for bigger pockets and just the mindset of trying to figure out her quarter life midlife crisis, I guess it would be called.

1:07.7

And I think it might be relatable to you if you are stuck in a job that you dislike or maybe you're in between jobs or careers because you don't know what you actually want to do with your life.

1:21.6

I think this would be a great lesson if you are in that kind of scenario.

1:26.6

Yeah, Danielle also talks about, and this is probably like my favorite thing that I heard throughout the entire episode was just the power of her network and how she consistently leaned on people that she had met at meetups or online or wherever it was to mitigate some of that fear that she had about taking that next step.

1:44.0

And I think if there's anything you take away from today's episode, it's really that step about how do you leverage your network.

1:50.0

And then she also gets into some nitty gritty at the end about her rinse by the room strategy and how she's able to really maximize her returns by leveraging that strategy.

1:58.0

So overall just a lot of really great things that Danielle had throughout this episode.

2:02.5

And then she also shares with what's next. So what does she have planned for her next investment and then also the vision five years down the road.

2:11.4

All right, so I also want to give a shout out to someone by the username of Joey 1982.

2:15.0

Joey would love to say five star review and Apple podcasts that says I love listening to the show and often listen to past episodes when I've run out of new episodes.

2:22.7

They do a great job of presenting fundamentals and specific concepts and an easy to digest way.

2:28.3

Joey, we appreciate you.

2:29.6

And for all of our records that are listening, if you have not yet left us an honest review on Apple podcasts or Spotify or wherever it is, you'll listen and please take it literally takes like two seconds.

...

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