327: From Parents’ Basement to Full-Time Investor and $2,500/Month with ONE Rental w/Noah Sprimont

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 4 October 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

In just a few years, you can go from no cash flow or investing experience to owning a sizable real estate portfolio, with passive income flowing in and free rent, EVEN if you’re in your early to mid twenties. Not possible? Today’s guest would beg to differ. Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with investor Noah Sprimont, who has had quite the real estate journey to date. Noah became obsessed with the idea of reaching financial freedom through real estate while he and his now-fiancée were living with his parents. To fast-track his development, he not only immersed himself in BiggerPockets content but also took up several W2 jobs that would help him hone the skills he needed to become a successful investor. Laser-focused on making it in real estate, Noah dabbled in several real estate strategies before discovering the cash flow potential of short-term rentals. If a bumpy start to your real estate journey has caused you to feel discouraged, you’ll want to hear how Noah was able to tackle his own feelings of self-doubt and fear of the unknown in this episode. You’ll also learn which skills can help you prepare for real estate investing, how to find flexible financing options for your deals, and what every rookie investor can bring to a partnership—regardless of the number in your bank account! In This Episode We Cover What you MUST do to maximize your short-term rental cash flow Developing invaluable skills that will help you transition into a career in real estate Quitting your W2 to pursue full-time real estate investing Flexible financing options you can get through a smaller bank or credit union How to cover even the most unexpected home renovation costs Three essential tips that will make your next home renovation project a HUGE success 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! 2 Long-Distance Rentals with $0 Down with Tony Robinson How to Invest in Short Term Rentals (STR) Books Mentioned in the Show Real Estate Partnerships by Ashley Kehr & Tony Robinson Connect with Noah: Noah's BiggerPockets Profile Noah's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-327 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 327.
0:05.6	Three years ago, my fiance and I were living in my parents' basement when we decided to, you know,
0:11.6	that we wanted to buy a fixer-upper house. And fast forward to today, we have a small portfolio
0:18.6	of single-family and multi-family properties. We have a mixed batch of short-term and long-term
0:24.4	rentals. We self-manage everything together. I work in the business full-time and she works
0:31.4	full-time at her W2 job to, you know, kind of provide us with a secure paycheck while I'm able to
0:37.3	risk the income we make from the business and continue to grow the business.
0:41.0	My name is Ashley Care and I'm here with my co-host Tony J. Robinson.
0:45.7	And welcome to the Real State Rookie podcast where every week, twice a week, we've been
0:49.7	you the Inspiration Motivation and the stories you just really need to hear to kickstart your
0:53.9	investing journey. And today, we've got one of those really good stories to kind of give you
0:58.0	that kick in the butt that you need to get started. There is a super inspirational story that just
1:03.3	touched mine in Tony's heart about our guest today, Noah going to be pecan in 2021. But Noah
1:11.4	today is sharing how he rehabed properties. He worked several different jobs that helped him a
1:19.1	little bit understand construction for real estate, but not really. And he goes through how he was
1:24.4	able to learn. He talks about his second property being with a partner. And of course, we love
1:30.2	partnerships here. Make sure if you haven't already, visit biggerpockets.com slash partnerships to
1:37.6	see mine in Tony's new book Real Estate Partnerships.
1:40.8	Noah also shares a really interesting story and you're going to love hearing this about some
1:45.6	creative ways to finance your real estate deals. Ash and I talk a lot about different strategies we've
1:51.2	used. But I really love what he did. So you really want to make sure to pay attention for that
1:55.2	piece as well. You guys know the drill. Before we get to the episode, let's hear a word from our show
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