395: From Car Valet to $100k/Month... Seriously! with Thach Nguyen

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 13 August 2020

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today: a no-excuses, American Dream story that will get you fired up to go hunt down a deal! Thach Nguyen is an investor and agent in the Seattle, Washington area. When he was a kid, his family fled Vietnam for the U.S... he later parked cars at a Chinese restaurant... and despite becoming a top-producing agent building a monster portfolio of paid-off rental properties, he's still hungry and shows no sign of slowing down. In today's episode, Thach (pronounced "Thatch") shares the lessons he learned during the Great Recession, his criteria for buying a "perfect BRRRR"... and why he says there's no shame in living with mom and dad to save money! Plus, the guys discuss the pros and cons of paying down mortgages, the psychological advantage of owning your primary residence free-and-clear, and Thach's favorite (free) lead generation strategy. We think you'll love Thach's energy; he thinks big and will motivate you to do the same. Give him a follow (IG: @thachnguyen) and let us know what you think of this episode! In This Episode We Cover: How Thach created $100k/month (!) in rental income Why he's focusing on the affordable housing niche Buying townhouses in Seattle, WA Buying a "micro-apartment" building in Oakland, CA And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Podcast BiggerPockets Podcast 356: 30+ Rentals (in a Pricy Market) Through BRRRR and Section 8 with Joe Asamoah How To Start Thinking Like A Big Time Real Estate Investor (Video) Tarl Yarber Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast so
0:02.0	375.
0:05.0	Oh man, are you really actually making that money?
0:07.0	And he's driving a band they living at his mom and dad's house?
0:10.0	How is that possible?
0:11.0	But they don't realize, and behind the the scene I was buying a lot of rental property and I was actually
0:16.3	accumulating them and getting paid down so I get out of the rat race so I can actually start to invest more and sell real estate without having a gun in the back of my head.
0:25.2	You're listening to Bigger Pocket's Radio, simplifying real estate for investors large and small.
0:31.6	If you're here looking to learn about real estate investing without... large and
0:35.0	be sure you're here looking to learn about real estate investing without all the height
0:36.0	you're in the right place
0:38.0	stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.
0:44.0	Your home for real estate investing online.
0:47.0	What's going on everyone? It's Brant Turner, hosted the BiggerPockets podcast
0:50.0	here with another phenomenal episode with a really, really engaging guest and of course a super engaging host
0:55.7	named David Green. What's up David Green? What's up David Green? What's going on Brandon?
0:59.7	That's a very nice intro. You're in a good mood today.
1:02.1	I'm in a good mood today. Today we have a phenomenally
1:05.8	awesome show as of course we always do but with a really cool guy I didn't
1:10.0	that's win so that's I met years ago and then I followed it on social media and he is just a bundle of energy and a bundle of knowledge like all wrapped into one bundle of greatness and he goes into a ton of stuff today like basically I mean we he's like I don't know we talk about a lot of things everything from like how he went from nothing to make it a hundred grand a month in passive income and I did not say that a 100 grand a month in passive income.
1:33.0	I did not say that.
1:34.4	100 grand a month in passive income.
	...

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