372: $4K/Month and Financial Stability From Rentals After Losing His “Safe” Job w/Kevin and Julia Windheuser

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 26 February 2024

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

For some people, real estate investing is “too risky.” But what if a small, cash-flowing portfolio could provide financial stability when you lose your job? If you asked today’s guests, they might say it’s too risky NOT to buy rental properties! Welcome back to the Real Estate Rookie podcast! Kevin and Julia Windheuser got into real estate at the perfect time. Shortly after building a small portfolio with six total doors, Kevin was let go from his “safe” engineering job. With no W2 income, the couple leaned on the steady income from their rentals. This $4,000 monthly cash flow bought them the time to not only work on their real estate business but also find Kevin a new job. In this episode, you’ll learn about the power of a “small and mighty” rental portfolio and how it can insulate your finances when times are tough. Kevin and Julia also talk about why they chose a market just outside their backyard, as well as how they estimate rehab costs. Tired of bad tenants? Julia shares the unique screening process she uses to guarantee the best tenants in town! In This Episode We Cover: How to build a small portfolio of cash-flowing rental properties How multiple streams of income can save you financially in life Choosing a market when your backyard is too expensive to invest Home renovation projects YOU can tackle (and which ones to outsource) Simple ways to estimate rehab costs as a new investor How to improve your screening process and get better tenants in your rentals 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! Apply to Be a Guest on the “Real Estate Rookie” Podcast Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio Making $10K/Month with a “Small and Mighty” Rental Portfolio How to Screen Tenants for Rental Property Rental Management Tools for Landlords: RentRedi Stessa Connect with Kevin & Julia: Kevin and Julia's Instagram: @luxlivingri Check the full show notes here: https://www.biggerpockets.com/blog/rookie-372 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 372.
0:04.0	Today's guests focus on live and flips and how losing a job
0:08.0	didn't even phase them due to the legwork they put in
0:11.0	for their real estate investing journey. My name is Ashley
0:14.0	Care and I'm here with my co-host Tony J Robinson. And welcome to the real estate
0:18.4	rookie podcast where every week three times a week we bring you the inspiration motivation and stories you need to
0:24.8	hear to kick start your investing journey now for these guests we're going to get into how they
0:28.8	chose their markets and the the kind of nitty gritty of how they got started. But first, Kevin and Julia,
0:33.5	welcome to the Real Estate Rookie Podcast. Super excited to have you guys on the show today.
0:37.3	Yeah, thank you. This is a huge honor, I think for us, and we've been listening to you guys personally and bigger pockets for a very long time so we love it.
0:46.3	Many years now. Thank you guys. Well now you guys get to give back to the community which is a goal
0:50.7	for a lot of Ricky's listening so you know astronaut know, Ash and I always say that what makes this show so special is stories just like yours,
0:57.6	right?
0:58.6	Stories of folks who are just normal everyday people getting started.
1:01.5	And with that, right?
1:02.2	We understand that this journey you guys have been on can come with some challenges so can you share a moment there's maybe had a really big impact on your lives and your investing journey.
1:11.0	Yeah, so I mean the biggest thing was being laid off from you know the quote-unquote
1:16.2	safe corporate job that you know everyone's told you should get out of school and it turns out
1:21.9	it's not so safe no matter what the job is.
1:24.4	So luckily we had some strong or a strong but mighty
1:29.1	small but mighty portfolio that was able to financially hold us through that time and not put us in any
1:36.0	detrimental positions and give me the time to find the job that made the most sense.
	...

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