7 Properties in 10 Years by Turning 1 Home’s Equity Into an Entire Portfolio

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 25 September 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

This assistant principal slowly and steadily used home equity to invest, helping him acquire seven properties in just over ten years. These properties have now seen sizable appreciation, and he has hundreds of thousands of dollars in equity, all thanks to taking it slow and making the right moves on the right rental properties. This might be one of the most repeatable paths to wealth out there, and you can copy it to a tee to build wealth, too! James Likis got his start where many rookie investors do—house hacking. Except it started WAY before he was an adult. James remembers his family house hacking as a kid, which prompted him to buy, not rent, as soon as he started looking for his own place to live. After house hacking for years, he saw his equity grow and later used this one property to buy his dream home, which would help him build even MORE equity. James has used this equity-recycling strategy to buy over a million dollars worth of real estate, and it all started from ONE house hack. You can do it, too, and like James, you may begin searching for even more affordable housing markets where your dollar can stretch further. Today, he’s sharing how he used his home equity to grow his real estate portfolio, why he decided to invest out of state, and a specific home renovation loan he used to turn his second property into a fully-renovated, high-appreciating family home! In This Episode We Cover: Why you DON’T need to rush to build a successful rental property portfolio Using home equity to invest and cash-out refinances vs. HELOCs The easiest way to start investing in real estate that rookies should try Home renovation loans and what you MUST know before using an FHA 203(k) loan Why focusing on investing for appreciation (not JUST cash flow) will make you wealthy Long-distance real estate investing and buying in more affordable housing markets And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Invest Out-of-State with “Long-Distance Real Estate Investing” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Home Equity: What It Is, How To Calculate, & How To Use It Connect with James Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-462 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	To be successful in real estate, you don't need a massive portfolio. You also don't need to buy
0:06.4	several properties a year or have hundreds of thousands of dollars in capital to get started.
0:11.6	Today's guest shows the power of slowly
0:14.3	building a portfolio of seven properties over 10 years focused on appreciation
0:19.8	and not cash flow. This is the real estate rookie podcast. I'm Ashley Care and I'm here with Tony J Robinson.
0:27.7	And welcome to the show where every week, three times a week we bring you the inspiration,
0:32.1	motivation,
0:32.9	and stories you need to hear to kick start your investing journey.
0:35.9	Now, today we're going to discuss
0:38.5	why house hacking is such an incredible option
0:41.5	and how to do it even when you have a family, how to leverage a cash out
0:45.1	refinance in a Heelock to scale your portfolio, and lastly, why appreciation is the focus
0:50.9	of our guest today's portfolio. So welcome to the show. is the
0:53.3	portfolio.
0:54.3	Welcome to the show James Like is super excited to have you brother.
0:56.8	Thank you for having me guys.
0:57.8	I listened to you all the time.
0:59.3	It's a pleasure to be here.
1:00.1	James to kind of start off the show, give a snapshot of your life where your base what career you're in and then we can kind of go into your real estate journey
1:09.1	Sounds good. So again my name's James I live in Boston, Massachusetts, born and raised locally.
1:15.0	I'm a former teacher now assistant principal of a big K to 8 school in Boston public schools.
1:21.0	And so, yeah, I've got started real... school in Boston Public Schools.
	...

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