440: How a 25 Year Old Bought $1M of Real Estate in 1 Year with Daniel Iles

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 4 February 2021

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Believe it or not, TikTok isn’t just teenagers doing dances; there are actually some pretty influential investors on the platform. Meet Daniel Iles, a TikTok and Youtube creator who bought a staggering $1,000,000 in real estate during his first year of investing. Daniel was able to amass this serious sum of real estate while only putting $23,000 down. Now that’s impressive! Due to an aggressive goal of reading 60 books a year, Daniel picked up a book that many of our listeners have heard of, Investing in Real Estate with No (and Low) Money Down from our very own Brandon Turner. This unlocked the potential of investing in real estate for Daniel. He took advantage of FHA loans, using equity as down payments, and building his credit to get loans from small credit unions and banks. Daniel now owns 9 units and a combined valuation of almost $1,500,000, still with almost no money down. Daniel stresses that his success comes from systems. Whether it’s systems about credit cards, loans, tenant management, deal analyzing, or anything else related to real estate investing, systems are the key to keeping your sanity when things go wrong. He also has some tips for new investors trying to acquire a lot of real estate, in a small amount of time. Creating these systems for scaling will allow you to make smart decisions and invest in a way that doesn’t push you to burn out. In This Episode We Cover: Using TikTok as a creator, not a consumer, to connect with influential investors How Alaska real estate compares to continental United States real estate Securing houses with low or no money down Using equity in a house as the down payment Why small banks and credit unions may be more flexible when funding deals What Daniel looks for in his rental properties Tenant management systems for simpler investing And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Bookstore TikTok BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan Pineda Zillow Realtor Craigslist TenantCloud Tim Ferriss Check the full show notes here: http://biggerpockets.com/show440 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast show 440.
0:02.4	One constant across all the different banks and financial institutions is that you are the customer.
0:08.2	And no matter where you go, they're always trying to get your business and sell you alone.
0:13.5	And once I realized this, it was like I found the missing piece of the puzzle that I was looking for
0:18.5	when I wanted to invest in real estate wasn't money, but it was more so knowledge.
0:24.4	You're listening to bigger pockets radio.
0:27.1	Simplifying real estate for investors large and small.
0:30.8	If you're here looking to learn about real estate investing without all the hype,
0:34.7	you're in the right place.
0:36.7	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:42.6	Your home for real estate investing online.
0:45.5	What's going on everyone? It's Brandon Turner, host of the bigger pockets podcast here with
0:48.8	another phenomenal show with my buddy, my partner in crime.
0:52.5	I'm my soon to be hanging out in person in Hawaii. David Green, what's up man?
0:57.8	Hey, I'm excited to be going to Hawaii. I'm going to look at buying a couple condos out there
1:01.3	as investment property and I really ramping up what I've been looking at. I'm looking at condos
1:05.6	with you. I'm looking at a new house sack for myself and I'm looking at a couple apartment complexes
1:10.2	in the three million or so range in Georgia. So anybody who's looking at properties out there
1:15.9	has an in with brokers. I'd love to hear from them. But it's the season of buying again.
1:21.0	So you're doing really good. This is like when I'm at my happiest.
1:24.6	That's awesome. Do you have a good team in place to help you buy stuff?
1:27.7	Or do you still looking for like a kind of COO of your life to help you build your portfolio?
	...

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