441: Turning $5,000 Into 50+ Doors and a 7-Figure Net Worth Before the Age of 30 w/Cody Caswell

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.7 • 1.8K Ratings

🗓️ 7 August 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

You don’t need a huge inheritance or nest egg to start investing in real estate. Just ask Cody Caswell, who landed his first deal at sixteen years old with only $5,000. This property gave him instant cash flow, but more importantly, it gave him a launchpad to develop his skills, find better deals, and scale from mobile homes to multifamily! Welcome back to the Real Estate Rookie podcast! Cody started small, but today, he flips fifteen houses per year, owns a fifty-six-unit apartment complex, and even runs an interior design business—all before the age of thirty. The secret to his seven-figure success? He spent most of his twenties dabbling in virtually every investing strategy until he found the one that aligned with his strengths and interests. The best part? His approach is relatively low-risk and highly repeatable! In this episode, Cody will share the best entry points for buy and hold investing, the BRRRR method, and flipping houses. Whether you’re brand-new to the world of real estate or you’re ready to pull the trigger on your first property, tune in to hear about his real estate journey, some critical mistakes to avoid, and what makes a “good” deal! In This Episode We Cover: How Cody turned a $5,000 investment into a portfolio of over fifty units How to build and scale your real estate business from little or no money The perfect starter investment properties (and how to find them!) The fastest way to double your cash and get MORE money to scale Why time in the market is more important than timing the market And So Much More! Links from the Show Ashley's BiggerPockets Profile Noah's BiggerPockets Profile Buy “The Book on Flipping Houses” Find an Investor-Friendly Agent in Your Area See Ashley and Noah at BPCON2024 in Cancun! Investing in Mobile Homes: What Investors Need to Know (00:00) Intro (01:29) Investing at 16?! (06:47) BRRRRing & Scaling at 18 (10:23) Flipping Houses & Cody’s Strategy (15:41) Advice for New Investors (19:19) Connect with Cody! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-441 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	My name is Ashley Care. Welcome to the Real Estate Rookie Podcast where every week, three times a week,
0:05.9	we bring you the inspiration, motivation, and stories you need to kick start your real estate investing
0:11.1	journey. For this episode we have something special
0:14.5	for our listeners. We have an awesome YouTube series hosted by BiggerPockets own
0:19.9	NOAA Bacon and it's all about how real estate investors got started and the
0:24.8	details of their very first deal. Today we're going to share Cody Caswell's story
0:30.9	Cody Caswell has been investing in real estate since he was just
0:34.6	16 years old. Seriously, and he wasn't given some multi-million dollar inheritance to do this.
0:41.5	Within 10 years, Cody went from buying some beat-up mobile homes to
0:45.6	50-unit apartment complexes all thanks to the moves he made when he was in high
0:51.0	school. So how did he do it? That's what we're going to find out today.
0:55.2	And if you're someone starting without a lot of cash or experience, how do you repeat
1:00.7	Cody's incredible investing moves? You can listen to it here or you can check
1:05.5	it out at YouTube.com slash at real estate rookie. Okay let's get into it.
1:11.1	Cody how are you doing today?
1:12.5	Fantastic, it's an honor to be here with bigger pockets again.
1:15.6	I appreciate you guys having me on so I could shed some light on my story
1:19.2	and maybe help somebody else along the way.
1:21.0	Well, it's amazing to have you here.
1:22.4	Cody is on a really
1:23.1	crazy journey like I said getting started at 16 and actually hitting seven
1:26.9	figures of net worth at the age of 24. Cody I know it's a little bit of a
	...

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