355: $25K/Month from ONE Property Thanks to a $180K Discount & Creative Finance w/Dayna Hicks

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 9 January 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Can’t fund your next rental property? Never let a little money get in the way of a great deal! When today’s guest didn’t have the cash to buy the property of her dreams, she negotiated a MASSIVE discount and used creative financing to get it across the finish line. Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Multifamily Bootcamp graduate Dayna Hicks, a foster parent and investor with a HUGE heart for the less fortunate. After reading Rich Dad Poor Dad and discovering BiggerPockets, Dayna realized that investing in real estate would give her something to pass along to her (many) children. It took her very little time to get started, buying three multifamily properties as a rookie! In this episode, Dayna shares how she secured her latest deal—a thirteen-unit transitional house designed to help young adults get back on their feet. Dayna was able to negotiate the purchase price down by a whopping $180,000 simply by using her newfound real estate knowledge to her advantage. Now, the property brings in $25,000 per MONTH! In This Episode We Cover: How Dayna negotiated $180K off a seller’s asking price Using creative finance to fund a unique rental property The MANY advantages of investing in multifamily real estate Leveraging your primary residence to fund MORE deals Creative ways to raise rent on a good tenant (and keep them happy!) Life-saving tips for managing a home renovation project 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 Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Making $90K/Year with Just ONE Rental by Combining Compassion with Cash Flow How to Negotiate House Prices Books Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki One Rental at a Time by Michael Zuber Connect with Dayna: Dayna's Email [email protected] [email protected] Check the full show notes here: https://www.biggerpockets.com/blog/rookie-355 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 355.
0:04.8	My name is Ashley Kerr and I am here with my co-host Tony J Robinson.
0:09.3	And welcome to the Real Estate Ricky podcast where every week week twice a week we're being you the
0:13.7	inspiration motivation and stories you need to hear to kick start your
0:17.1	investing journey and today we've got another amazing guest Dana, and I love Dana,
0:24.0	great, great guests, just a lot of good energy
0:27.5	and her motivations for getting into real estate
0:29.7	are so pure, and so just, you guys are gonna see why we love her story so much but
0:34.8	also want to give a quick shout out to someone that love to say five star review
0:38.3	and Apple Podcast this person goes by the username of Hammond's fam and this person
0:42.4	says I have deep dived into real estate
0:44.2	investing for the past three years and I've been listening for years and this
0:47.8	podcast always has great info that I can leverage in my life and in my real estate journey.
0:52.9	So if you are part of the real estate rookie audience
0:55.9	and haven't yet left us an honest rating to review,
0:58.4	please do only takes about two to three minutes,
1:00.6	but it does have a huge impact on the show. And we just might read your review on the show like I did for this one.
1:05.2	If you are interested in joining a boot camp with bigger pockets you can go to bigger pockets
1:11.1	that com slash boot camps.
1:13.4	Okay well today joining us on the show
1:16.5	is the incredible Dana Hicks,
1:18.8	a shining star in the bigger pockets
	...

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.