359: From His Grandma’s Couch Making $15/Hour to $30K/Year from ONE Property w/Jaryn Pierson

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 23 January 2024

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Could ONE multifamily rental property change your life? Just five years ago, Jaryn Pierson was sleeping on his grandma’s couch, working a minimum-wage job, and getting sober. But when the right deal came along, it altered his financial future! Welcome back to the Real Estate Rookie podcast! Jaryn discovered real estate during the lowest point of his life. When friends and family warned him not to invest, he bought a duplex in his hometown. Today, that property nets $30,000 in cash flow each year! Since then, he has only added to his portfolio—buying an eight-unit apartment building through a RARE seller financing opportunity and launching his own property management company. His old minimum-wage job? He’s still got it, only he has been promoted to general manager of multiple locations! In this episode, Jaryn shares some of the biggest lessons he has learned during his real estate journey—from becoming a better Airbnb host to raising rents on long-term tenants. You’ll also learn how to find properties to manage, as well as why you should focus on stabilizing your portfolio rather than scaling it! In This Episode We Cover: Jaryn’s multifamily rental property that brings in $30,000 per pear How to raise rents on existing tenants (and keep them happy!) Avoiding the banks to get a GREAT deal with seller financing Jaryn’s biggest lessons learned as an Airbnb host How to find clients for your property management company When to focus on stabilizing your portfolio instead of scaling your business 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 Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms Raising Rent: How Much Should I Increase Rent Each Year? Books Mentioned in This Episode The Multifamily Millionaire, Volume 1 by Brandon Turner & Bryan Murray The Multifamily Millionaire, Volume 2 by Brandon Turner & Bryan Murray Buy Back Your Time by Dan Martell Connect with Jaryn: Jaryn's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-359 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 a real estate rookie episode 359.
0:06.0	My name is Ashley Kerr
0:07.4	and I'm here with my co-host Tony J Robinson.
0:11.3	And welcome to the real estate Rickey Podcast, where every week, twice a week, we bring you the
0:16.2	inspiration, motivation, and stories need to hear to kick start your investing journey.
0:20.8	And as always say, we have a great story for you. Today you're going to hear from
0:24.2	Sharon and how he went from you know grandma's couch making 15 bucks an hour to
0:29.0	cash along over $30,000 in his first year investing in real estate.
0:33.6	We are going to understand the power of buying your first home
0:38.1	and how it can unlock your investing journey.
0:41.8	Jaren, welcome to the show.
0:44.0	Thank you so much for joining us today.
0:46.0	Can you kind of paint a picture for us and tell us a little bit about life
0:51.0	before you bought your first property?
0:52.6	Yes, I can.
0:54.3	First thing I want to just kind of clarifier, get out there is I want to say thank you.
1:00.0	You know, I think sometimes when we do stuff like this whether it's to grow our own
1:06.4	brand or whatever like our intentions are maybe a little different than actually
1:10.7	what comes out of it but four years years ago, maybe five, I was kind of unpacking the timeline a little bit this morning.
1:17.0	I was sleeping on my grandmother's couch, not by choice, and I can't say that I'm much of much but literally because of listening to this
1:27.4	podcast and you know buying the books getting my hands dirty a little bit I have have some rental properties. You know, it's not
1:34.1	that magic and it really is the community and people like yourselves who do this
	...

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