61: Digital Nomad with 15 Units in 5 Different Areas with Michael Su

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 17 March 2021

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

While traveling throughout southeast Asia, Michael Su asked what he could be doing to protect himself if he ever didn’t have stable income. As a digital nomad, travelling from country to country, all while working at a startup, Michael was used to risk. He realized that the best way to mitigate and reduce the risk of him ever being in a dire financial situation was to make his own income. The best way to do that? Buy rental properties! Michael had already been following some popular real estate influencers, and decided to do what they were doing. He even contacted BiggerPockets’ very own Craig Curelop and asked him to be his agent in Denver and help him house hack. From then on, Michael reached out to more investors in other areas of the United States and began using their strategies. Now, only one year into real estate investing, Michael has over 15 homes, with two under contract, in five regions in the US! This doesn’t just happen by luck. Michael had a strong grasp on financing strategies, investment strategies, and real estate economies of scale. He even read the SEC filings for major REITs to see how they scaled their businesses and dealt with problems. Now Michael can continue building his real estate portfolio, while traveling, and working at a job he loves. All possible through smart investing! In This Episode We Cover Thinking long term on wealth accumulation and passive income strategies How to create a portfolio that works with your life, not the other way around Buying in different markets with different investing strategies Reaching out and interviewing investors, agents, and real estate influencers The multiple different ways to finance your real estate deals Section 8 and the pros/cons that come with it How to mitigate and manage the risk you face when real estate investing And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Real Estate Podcast Blueboard Inc. BiggerPockets Real Estate Podcast Episode 423 - Dan Sullivan Zillow House Hustle BiggerPockets Real Estate Podcast 406 - Shelby Osborne Hemlane Appfolio Rent Manager MLS BiggerPockets Calculator Check the full show notes here: https://www.biggerpockets.com/rookie61 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie Show, number 61.
0:04.1	The only getting like 5% cash on cash returns, that's okay, that's much better than the
0:11.3	bank.
0:12.3	I think any real estate investor before getting in, like even make sure you're ready for
0:15.0	this for the long haul.
0:16.0	Then even one year, five years, ten years, you're going to be so much better than the
0:19.8	investor that your returns are going to be unbelievable.
0:22.6	I'm your host Ashley Care and I'm here with Tony Robinson, hey Tony, what's up?
0:29.9	What's going on?
0:30.9	What's up Ashley?
0:31.9	How are you doing today?
0:32.9	Good, good.
0:33.9	I really don't have anything exciting to really share today.
0:36.8	I was like seeing you like, look at me and Tony talk about it.
0:40.6	Yeah, nothing too great.
0:41.6	If I've got some good things coming to the pipeline, I guess one thing, so for the listeners
0:45.2	like let me know what you guys are thinking about the Saturday episodes.
0:47.8	I want to give a feedback, let us know if you guys are enjoying it.
0:50.8	If there's specific topics you guys want us to answer, Facebook group, you can leave questions
0:54.5	in there, call us on the Rookie Request Line at 8885Rookie.
0:58.2	Just shout us out wherever you can so we can get some more questions flowing in that
1:00.8	way.
	...

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