291: Living for FREE at 22 and Planning to Retire by 30 with Rentals w/Ryan Hughes

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 31 May 2023

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Who knew living for free could be as simple as house hacking and renting rooms out to a few college friends? Today’s guest was able to generate enough monthly income from his first real estate deal to cover his mortgage payment each month—and then some! Welcome back to another episode of the Real Estate Rookie podcast! Ryan Hughes’ real estate investing journey started at the age of fourteen, when his father allowed him to go in on a real estate deal. Naturally, Ryan was ready and eager to start investing in his own rental properties by the time he graduated from college. Within months, he had bought his first investment property, one he conveniently spotted while jogging around his neighborhood. Shortly after closing, Ryan had seven people living in the house and paying rent to fully cover his mortgage payment, utilities, and more. If you’re interested in living for “free” and attaining financial freedom, you’ll want to hear what Ryan has to share about house hacking, building your real estate network, and how to keep the peace with other tenants. As always, Ashley and Tony have some invaluable insights to share as well—from leveraging debt the right way to finding the best home loan products! In This Episode We Cover How to live for FREE by house hacking and renting out rooms Managing tenants when they live with you (and share your stuff!) Identifying housing markets where cheap properties will appreciate Tapping into a real estate agent’s network and leveraging their connections Using an inspection report to your advantage before closing on a property How to find a home loan that benefits both the buyer and seller 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 Analyze Your Own Deals Using the BiggerPockets Rental Property Calculator Living for “Free” with 63 Self-Storage Units Follow Ana Karina on Instagram for Real Estate, Tax, and Bookkeeping Advice Connect with Ryan: Ryan's YouTube Ryan's TikTok Check the full show notes here: https://www.biggerpockets.com/blog/rookie-291 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 State Rookie episode 200 and 9 or 1.
0:05.1	All throughout college looking into buying a house and at that time I was definitely
0:10.2	an analysis paralysis on my arm too young. Oh I gave it with 100 excuses and then once
0:14.9	it got to that opportunity I'm like I've been doing this for five years. I was already
0:18.8	leaning towards just all right it's time and then with my dad which I wasn't expecting yeah
0:24.1	let's go check it out I was like all right that's it that's my sign we're making this happen whether
0:28.2	we like it or not we're making this happen. My name is Ashley Carr and I'm here with my
0:32.0	co-host Tony Robinson and welcome to the Real State Rookie podcast where every week twice a week
0:37.1	you're bringing you the inspiration motivation and stories you need to hear to kickstart your
0:40.8	investing journey and we are back with another amazing guest for today's episode today's guest
0:45.6	is Ryan Hughes and Ryan's based out of South Florida actually South Florida West Palm Beach
0:52.3	wherever that is in Florida. Yeah somewhere in Florida. But anyway he's from Florida and yeah
0:59.0	maybe somewhere on the west side but he's got a really cool story and you know we love the
1:04.8	Rookie podcast because so many of the stories are so relatable and our guests are doing things that
1:10.3	pretty much every single person listening can implement in some way shape or form and I think
1:15.1	Ryan's episode today about house hacking is a great great example of just super simple steps you
1:20.2	can take to get starters real estate investor. Yeah and just the way he's been able to network with
1:25.3	people and really rely on their expertise but it's not like oh please help me please help me it's
1:31.7	like you're an experienced contractor in this skill set like what do you recommend like being
1:39.6	genuine I think is like the really big difference between Ryan and a lot of other people asking for
1:46.1	you know someone's help with something and he is super genuine and he actually takes that person's
1:52.4	advice to instead of just wasting their time but one of the things I really like Ryan too is that
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.