86: House Hacking Your Way to 97 Units (While Holding a Full Time Job!) with Cory Binsfield

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 4 September 2014

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on the BiggerPockets Podcast we sit down with Cory Binsfield, a multifamily rental property investor who comes from Duluth, MN. If you ever feel like you don’t have enough time to invest in real estate, wait until you hear Cory’s story. He currently owns and manages 97 units himself while still working a full time job. Today he teaches us how he does it and also touches on a variety of topics related to getting started, house hacking, investing in a college town, and being a master of creative finance. This show is packed full of valuable tips so make sure to grab a pen and paper for notes, and let’s get to it! In This Show We Cover… Starting out with an investment that makes your wife cry How to use a VA Loan CreativeFinance vs. Conventional Finance The ins and outs of investing in a college town The SWAT team that descended on Cory’s property Mistakes, mistakes and more mistakes! Why partnering may NOT be a good option after all How to personally manage over 97 units while working a full time job How to build a solid team that can put out the fires while you chill on a beach in Mexico Networking as a “lifestyle” Owning a frat house What to look for when buying a multifamily Why real estate is better than other retirement options The most helpful technological aid in Cory’s business And a whole lot more! Links from the Show: Why I’m Not a Flipper-Don’t Kill the Goose! by Cory Binsfield How to “Hack” Your Housing and Get Paid to Live for Free by Brandon Turner The BiggerPockets Tour Books Mentioned in the Show: The Millionaire Real Estate Investor by Gary Keller The Shareholder Letters by Warren Buffett Tweetable Topics: “Networking is a lifestyle.” (Tweet This!) “There’s not a single path to success in real estate.” (Tweet This!) “You don’t want a “good” life, you want a “great” life.” (Tweet This!) Connect with Cory: Cory’s BiggerPocket Profile 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 86.
0:05.0	You're listening to Bigger Pockets Radio,
0:08.0	simplifying real estate for investors large and small.
0:11.0	If you're here looking to learn about real estate investing without all the
0:14.9	height, you're in the right place. Stay tuned and be sure to join the millions of others who have benefited
0:21.2	from bigger pockets.com.
0:23.3	Your home for real estate investing online.
0:26.5	What's going on everybody?
0:27.5	This is Josh Dorkin, host to the BiggerPockets podcast here with my co-host,
0:32.1	Mr. Brandon.
0:35.0	What's up, Brennan.
0:38.0	How much how you doing?
0:40.0	I'm good, man, I'm good.
0:41.0	It's good to have you here as my co-host. Thank you, thank you. I'm still on the road. I think last week was in North Dakota, wasn't I, I think, and then this week now I'm actually in Minnesota at my sister's house. So if you hear little kids yelling in the background, that is why she's got four little ones.
0:55.5	It's awesome. That's great. I love being an uncle. I love being an uncle.
0:58.0	I love being an uncle. You're a good guy, you're a good guy, man. It's awesome. That's great. Well listen we've got a really cool show today with
1:05.9	Corey Binsfield and we'll talk about that in a second. But you know all's well with us. Bigger
1:11.3	pockets is rockin and rolling. We just brought on a brand new community manager
1:15.8	and lead editor, Allison Leung, and she's fantastic and hopefully everybody will jump in on
1:21.5	the forums and welcome her and greet her.
1:24.0	She's rocking so definitely say what's up to her.
1:26.0	Otherwise, that's all I got for you.
	...

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