315: House Poor to HUGE Cash Flow by Doing THIS: Robuilt’s Rags-to-Riches Story w/Rob Abasolo

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 23 August 2023

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

Going from house poor to earning HUGE cash flow and building a real estate empire? The journey to wealth through real estate was no walk in the park for today’s special guest. After figuring out that someone else would actually pay his mortgage for him, however, it became a whole lot easier! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by none other than Rob (Robuilt) Abasolo—investor, YouTuber, and co-host of the BiggerPockets Real Estate podcast. Born to first-generation immigrants who worked tirelessly to provide him with a better life, Rob grew up knowing how to live below his means. Little did he know that this mindset would prove critical when he and his wife were stuck with a mortgage payment they couldn’t afford. It was at this time that Rob discovered house hacking and put the strategy to the test—with enormous success! Ultimately, this proof of concept would give him the courage to build and scale his very own real estate business. If you need to be reminded that investing in real estate is a viable path to financial freedom, look no further than this ultimate rags-to-riches story. As Rob reflects on his days as a rookie investor, he shares why it’s so important to document your journey, different ways to subsidize your mortgage, and how to get your spouse on board with your real estate obsession! In This Episode We Cover: Why you NEED to start documenting your real estate journey today Supplementing your income with creative side hustle ideas How to get your spouse on board with your real estate ventures Subsidizing your mortgage payment through house hacking and rental arbitrage Using proof of concept to scale your real estate business Money-saving DIY home renovation projects (and when to hire a pro instead!) 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 Submit Your Real Estate Rookie Question! Listen to the "BiggerPockets Real Estate" Podcast Meet Rob at BPCon 2023 in Orlando 10 Deals on a $20K Waitress Salary With Ashley Hamilton Connect with Rob: Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter/X Rob's YouTube Join Rob at HostCon on October 28–30 in Houston, TX Check the full show notes here: https://www.biggerpockets.com/blog/rookie-315 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

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0:00.0	This is Real State Rookie Episode 315.
0:05.0	I will give my parents all the credit in the world
0:08.0	because I had no idea that we were poor.
0:10.0	But I do remember there was this one day that came home
0:13.0	and my mom was bawling at the kitchen table.
0:15.0	I remember being like, what's wrong mom?
0:17.0	And she was like, you texted somebody so many times
0:20.0	our bill is $600 and we can't afford this.
0:23.0	That was a hard moment for me because that was the first time
0:26.0	that clicked with me that $600 is everything for certain families.
0:29.0	That was sort of that moment where I was like,
0:32.0	I will never let my family feel like this again.
0:34.0	I'll make sure that my family never feels this way.
0:37.0	My name is Ashley Care and I am here with my co-host Tony Robinson.
0:41.0	And guest, Rob Abbasolo?
0:44.0	Hello!
0:45.0	What are you doing?
0:46.0	I'm marching in on your intro.
0:47.0	Well anyway, welcome to the Real State Rookie Podcast
0:52.0	where every week, twice a week, we're bringing you
0:54.0	the inspiration, motivation, and stories you need to hear
0:56.0	to kickstart your investing journey.
	...

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