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BiggerPockets Real Estate Podcast

8 Rental Units in 2.5 Years (While Working 6 Jobs!)

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.816.6K Ratings

🗓️ 26 August 2024

⏱️ 40 minutes

🧾️ Download transcript

Summary

Don’t have enough money to buy rentals? Neither did Brandon Tilson. As a social worker, he was never on the higher end of the income scale, but thanks to some serious side hustles, he now has eight rental units in just two years! How did he do it while working full-time and having a family to feed? Today, we’re talking to Brandon about why ANYONE can invest in real estate, no matter your experience, salary, or cash in the bank. Brandon doesn’t have just one side hustle, or two, or three—he has five separate side hustles, leaving him with six jobs to take care of. It’s no surprise that Brandon works anywhere from sixty to eight hours a week, but it’s all been worth it for him, especially after seeing his real estate holdings go from zero to eight rental units in an extremely short period of time. Now, he’s less than ten years away from financial freedom, allowing him to retire early if he wishes to at just forty-five years old! Brandon gives crucial advice for anyone trying to invest in today’s market, even with higher interest rates. We talk about different side hustles that bring in extra income, how he funded his first deal, what to do when your renovation becomes a “trainwreck,” and whether or not getting your real estate license is worth it. Plus, why investing alone is much harder than doing it with a partner (or spouse!). In This Episode We Cover: How Brandon scaled to eight rental units in just two and a half years (even on a lower income!) Making extra income every month with real estate (and non-real estate related) side hustles Using a HELOC (home equity line of credit) vs. a cash-out refinance for your first rental  Whether becoming a real estate agent is worth it as a part-time side hustle  Finding your financial independence number and why it’s crucial to know how much you need to be set for life Why you should not DIY your home renovation (even if you have the time)  And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Episode #1,009 Invest in Turnkey Properties with REI Nation Get Started with “The Book on Rental Property Investing” Find an Investor-Friendly Agent in Your Area See Dave at BPCON2024 in Cancun! 6 Rental Properties in 15 Months (While Working 3 Jobs!) w/Brandon and Dani Tilson Connect with Brandon Connect with Dave (00:00) Intro (01:31) Investing While Working 6 Jobs! (07:24) First “Trainwreck” Deal (16:17) Second “Turnkey” Property (19:33) Becoming an Agent? (23:13) His Financial Freedom Number (26:08) Investing On a Low Income (29:13) Early Retirement at 45! (32:06) Advice for New Investors Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1009 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

Have you thought to yourself it's just too hard to invest in this market or maybe you're thinking it's too late?

0:06.4

I've missed all the good deals or maybe you're thinking reaching financial independence is impossible with high interest rates.

0:14.0

Well in today's episode we're going to hear a story that will make you believe

0:18.0

that investing in real estate and reaching financial independence is

0:22.0

still possible even in 2024.

0:24.8

Hey everyone and happy Monday it's Dave welcome to the BiggerPockets podcast where we share real estate investing

0:36.5

content every Monday Wednesday Friday so make sure you hit that follow button on your favorite

0:41.2

podcast app and never miss an episode. In today's episode

0:45.2

we're talking to an investor named branded Tilson who is a social worker by day and

0:49.7

has many many side hustles by night,

0:53.5

and one of them, of course, is being a real estate investor.

0:57.1

And with Brandon, we're gonna discuss

0:59.2

how he's created a strong cash-flowing portfolio on a short time horizon.

1:04.6

He just started a couple of years ago and is buying cash flowing deals.

1:09.1

We'll also talk about how he's working to achieve fire in just the next seven years so he can retire early

1:14.9

to spend more time with his family and playing video games and how he's growing

1:19.4

capital to invest in real estate despite having a job that's frankly on the lower end of the income spectrum.

1:26.1

Brandon is an awesome investor he's got some great advice for everyone so let's bring him on.

1:32.1

Brandon welcome to the show thanks for joining us.

1:34.4

Thanks I'm super excited. Me too let's start with the beginning here. When did you get

1:40.3

started in real estate investing? So me and my wife we started investing probably about two and a half years ago.

1:46.0

All right, so that's pretty recent. I am very eager to hear how you got started in the last two years,

...

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