821: From Making $48K/Year to Millionaire By His Mid-30s w/Ryan Tseko

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 21 September 2023

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ryan Tseko became a multifamily millionaire by his mid-thirties after giving up his previous career to invest. By the time Ryan was thirty, he already had twenty-one rental units, paid off over six figures in student debt, and used his pilot job to scope out new property markets. Everything was going to plan until a once-in-a-lifetime opportunity presented itself. Ryan left everything and made the jump. But how did Ryan end up in his multi-millionaire position? How did he go from house hacking “crash pads” for pilots to helping manage one of the largest real estate portfolios in the country? A better question—how did a commercial pilot become Grant Cardone’s right-hand man? Ryan’s story is unbelievable, but it’s true. In today’s episode, Ryan will share why he gave up his high-paid job to bust his butt working for Cardone Capital, why Grant Cardone told him to sell his ENTIRE real estate portfolio, and the two-minute deal analysis Ryan does that instantly tells him whether a property is worth pursuing. Ryan proves ANYONE can go from nothing to much more than something—and you can, too! In This Episode We Cover: Becoming a millionaire by your mid-thirties and turning active income into passive income House hacking, “crash pads,” and how to make money off of your first home Paying off six figures in student debt and why you MUST be frugal at the beginning of your investing career Millionaire tips from Grant Cardone and what to do when your property ISN’T profiting The two-minute deal analysis Ryan uses at Cardone Capital EVERY day And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Davids's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube Need a Real Estate Lingo Review? Check Out the BiggerPockets Glossary BiggerPockets Podcast 108 with Grant Cardone BiggerPockets Podcast 250 with Grant Cardone Book Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki Connect with Ryan: Ryan's Instagram Ryan's YouTube Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-821 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	This is The Bigger Pockets Podcast, show 821.
0:04.0	When I, day one when I joined Grant's team,
0:06.2	he used to underwrite a deal.
0:07.6	I used to tell him two minutes, it's actually like 43 seconds.
0:10.3	But I'm like, man, if I could underwrite a deal like Grant,
0:12.9	then my whole life would change.
0:14.5	What I do is I just take the number of units times the rents in place,
0:17.7	not like what the broker's telling me in place rents.
0:20.8	And then I just use the occupancy of like 94 or 95% depending on the marketplace.
0:25.2	And then I just use rough numbers like, okay,
0:26.9	my expenses typically in between 40 and 45%.
0:30.0	And so I just, okay, this is what my NOIs going to be based on.
0:33.2	Here's the income, minus the expenses.
0:35.2	Here's my NOI.
0:36.0	And so I could solve for like on these bigger deals,
0:38.0	they all traded a cap rate.
0:39.5	And so I literally can underwrite a multi-family deal 300 units within two minutes.
0:44.0	What's up everyone?
0:44.7	This is David Green, your host of The Bigger Pockets Real Estate Podcast.
0:48.0	The biggest, the best and the baddest real estate podcast in the world.
0:51.7	Every week we are bringing you stories, how-tos,
0:53.7	and answers that you need to make smart real estate decisions
	...

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