325: How to Retire with “Turnkey” Rental Properties (as a COMPLETE Beginner) w/Sam Dolciné

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 27 September 2023

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

You can retire with rental properties faster than you think. That’s right, toss out the “wait until I’m sixty-five and HOPE I have enough” mentality. That might be okay for most Americans, but it’s NOT okay for YOU. You want passive income flowing in so you can spend time with your family and friends and live a life you love. If you’re going to get there, you better take advice from Sam Dolciné. A few years ago, Sam calculated his retirement savings and realized he wasn’t even CLOSE to what he would need in retirement. Even after the monthly contributions and employer match, Sam would run out of retirement savings in only ten years of retirement. So, he started looking up ways to boost his retirement income. Real estate investing popped up, and Sam began devouring all the investing content he could. Now, he’s managing a portfolio of out-of-state rental properties that bring in some serious cash flow. The best part about Sam’s portfolio? It’s “turnkey,” meaning Sam was able to buy the properties and immediately rent them out, giving him cash flow within WEEKS of closing on his first couple of deals. Now, Sam is on the hunt for even more passive income. Repeat his steps, and you could be counting cash flow, too! In This Episode We Cover: How to retire with rental properties and why “turnkey” rentals might be your best bet Out-of-state real estate investing and whether cheaper markets are worth buying in How to find the perfect real estate market for your cash flow goals Self-management vs. property management and why Sam chose to do it himself The tenant and property “red flags” you MUST look out for as a rookie Tools that Sam uses to run his real estate portfolio from multiple states away 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! Network with Other Investors On the BiggerPockets Forums Dave Meyer Blog Posts “On the Market” Podcast Apartments.com Monday.com Rentometer Traveling the World Thanks to One $6,500/Month Rental Property w/Olivia Tati Book Mentioned in the Show Real Estate by the Numbers by J Scott & Dave Meyer Connect with Sam: Sam's BiggerPockets Profile Sam's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-325 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 Estate Rookie Episode 325.
0:04.4	I pictured my retirement, you know, working till I was 60-something and living off my retirement.
0:10.8	And I realized very quickly that that wouldn't be the case. And so I kind of had a moment of panic
0:15.6	and I realized, you know what, I think real estate will be a great way to supplement whatever I'm
0:20.2	putting aside. Turnkey provider pretty much the easiest way to explain is that they flip properties
0:26.2	to investors. So pretty much they they'll buy a property under market value, they'll put work
0:31.4	into it and they'll sell it to an investor who's looking for a property that pretty much needs no
0:36.4	work. It might need a little bit and you can ask them to do things that come in the inspection
0:41.3	and they usually come with property management included as well.
0:44.3	My name is Ashley Care and I am here with my co-host Tony J. Robinson.
0:48.6	And welcome to the Real Estate Rookie Podcast where every week,
0:51.6	twice a week, we're bringing you the inspiration, motivation and stories you need to hear to kick
0:56.0	start your investing journey. And we've got a great episode today. We've got Sam D'Alsini on the
1:00.3	podcast and Sam actually runs a podcast of his own called The Black Real Estate Dialogue.
1:05.7	And as soon as he came on, I could tell that he had a little bit of experience behind the
1:08.8	mic because he was just so smooth and, you know, he delivered his story so well and I was like, man,
1:12.8	this guy's got a great story. But you guys are going to love this conversation with Sam.
1:16.8	He's going to talk about red flags to look out for in potential tenants and how he almost got
1:22.4	scammed by someone who wanted to bring his property. You'll also get to hear Sam talk about red flags
1:27.0	in a property and you'll hear why he pulled out of two potential deals that he already had under
1:32.4	contract. We start this podcast a little bit differently talking about Sam's idea of retirement.
1:38.1	So he actually went and pulled up his portfolio online for his 401k and played with the little
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