97: 19 Units in 1 Year and Starting a “Luxury House Hack”

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 21 July 2021

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

Greg Schwartz didn’t plan on getting into real estate, he was keen on becoming a private pilot. He figured he’d make $200k-$300k per year and that would be enough money to help him retire. That was until he talked to a real estate investor who told him about the potential to make 7-figures in a month. Greg knew that the investor was on to something and he took some time convincing his wife, Rachel, to start investing in real estate. They both went in on a rental property in Alabama, but after some initial stumbles with long-distance investing, they switched their strategy to house hacking in College Station, Texas. Now, only a year into their investing journey, they have 19-units under their name, one of which is a “luxury house hack”. Greg and Rachel have had to be diligent while building and systematizing their real estate. Rachel has already become an expert property manager and has learned through her job how to prioritize, systematize, and organize their business to the best of their abilities. This is a great interview with two rookies who chose to pivot and keep building better with every new property they got under contract. In This Episode We Cover What to know before you try your hand at long-distance investing How to convince your partner to make the jump into real estate Investing in your local market and knowing the small nuances of your area House hacking in a quadplex and dealing with vacancy/troublesome tenants Financing your deals using partnerships, retirement savings, and more Systematizing your business so it can run without you And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group MLS BiggerPockets Podcast BiggerPockets Propstream BiggerPockets Podcast 476: Using Partners to Scale & Killing it With Airbnbs w/ Tony J Robinson Airbnb KellerWilliams Rookie Podcast 91: 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @Liliinvests Rookie Podcast 33: A Marine (and his Mentor) Buy a BRRRR: Step-by-Step with Joe Roberts and Steve Rozenberg Grant Cardone Website Check the full show notes here: https://www.biggerpockets.com/rookie97 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So whenever I hear the word bootcamp, I think drill sergeants, someone screaming in your face,
0:03.9	getting down in the mud, but Ashley, you've got a bootcamp. It's a little bit different.
0:07.0	So what's going on with that?
0:08.8	You actually described my bootcamp down to a tee. If you are a rookie investor and you want to learn
0:13.8	how to get your first deal, you need to join this bootcamp and I am going to be on you to get this
0:19.5	done. We are going to go over, think of any obstacle that there is and when you are doing a bootcamp,
0:25.9	there's going to be obstacles with funding, with building your team, with finding partners,
0:32.2	and we're going to break through all those obstacles and you are going to run the perfect
0:37.8	obstacle course, I guess, Tony. I didn't think that far ahead as to actually what to call it,
0:42.7	but yeah, running this bootcamp for rookie investors who want to know how to get their first deal.
0:48.0	If you guys want to find out some more information and have me scream and yell at you to help you
0:52.4	get your first deal, just go to biggerpockets.com forward slash bootcamp. This is Real Estate Rookie,
0:59.9	episode number 97.
1:05.6	And I'm talking to Gerald and you're asking what I want to do in life. And I said, well,
1:08.6	I'd love to be a private pilot. He's a CEO, so you work for the airlines, you make $200,
1:12.8	maybe $300,000 a year, but you'll never make real money doing that. And he said, I made a million
1:18.2	dollars last month. I'm in Real Estate.
1:22.8	My name is Ashley Care and I'm here with Tony Robinson. Today, we are matching and I planned it.
1:32.7	I noticed that. See, I was like, Ashley's got a black shirt on.
1:39.0	For those of you that don't watch on YouTube, Tony wears a black shirt every single recording,
1:44.4	so it's super easy to randomly just match.
1:50.4	Today, we have a husband and wife team on. And in the last year, a little over a year,
	...

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