Covering Her Mortgage in ONE Day with THIS (Up to $16K/Month!)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 23 December 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Covering your entire mortgage payment in ONE day?! Today’s guest is proof that you don’t need a full-blown real estate portfolio to start making money. She has only ever owned one property, her primary residence, but it brings in up to $16,000 a month being rented out part-time! Welcome back to the Real Estate Rookie podcast! When searching for her first home, Nicole Lulinski Weill wanted a property that could bring in some extra income. She started looking at duplexes and homes with accessory dwelling units (ADUs) before stumbling on her dream house—a vintage home that had been used for film productions—and deciding to tap into its money-making potential as well. Despite not owning any “rentals,” she can pay her mortgage with a single project. The best part? This unconventional strategy is scalable! Now that Nicole has proof of concept, she plans to buy more of these niche investments in emerging markets and rent them out in the same way! If you want to make money without house hacking or becoming a landlord, you don’t want to miss this episode! Nicole will show you where to find a money-making primary residence, how to rent out your home to film production companies, and steps to protect your home from damage along the way! In This Episode We Cover: How this rookie investor covers her entire mortgage payment in ONE day Why you DON’T need to own rental property to make money in real estate How to turn your own primary residence into a money-making machine Renting your home out to film production companies for a huge payday Crucial steps to protect your house from damage while renting it out 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 Real Estate Rookie YouTube Nicole’s Instagram Buy the Book “First-Time Home Buyer” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 497 - $1,000,000/Year with 22 Rentals by Focusing on This Ultra-Profitable Niche (00:00) Intro (00:59) Buying (and Renting!) Her Home (10:51) Permitting & Logistics (14:42) Paying Her Mortgage in a Day?! (17:53) Protecting the Property (22:450 Extra Fees & Rental Rates (26:27) The Booking Process (37:08) Connect with Nicole! (33:39) Scaling & Revenue Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-500 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	What if you could pay your mortgage payment in a single day without house hacking?
0:06.4	Today's guest has a fascinating and unconventional way to use their primary residence as an investment without house hacking.
0:17.1	We're going to dive in into this unlocked potential of generating income with today's guest, Nicole.
0:25.2	We're going to be breaking down the steps you can take to also implement this strategy.
0:36.2	This is the Real Estate Rookie podcast.
0:39.0	I'm Ashley Care, and I'm here with Tony J. Robinson.
0:43.1	And welcome to the podcast where every week, three times a week, we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:50.7	And we are here today in person with none other than Nicole
0:54.3	Lewinsky while Nicole thanks for hanging out with us today thank you so much for having me
0:59.4	so Nicole let's start from the beginning you have your primary residence when you purchase this
1:04.9	property did you even think of real estate investing and kind of tell us a little bit of what your
1:10.5	life looked like
1:11.3	at that time. So the house we live in now is our first home that we bought, and we were living in
1:18.8	L.A., wanting to buy a home and looking for ways that we could make money off the home. I'm a daughter of immigrants from
1:31.5	Argentina. I was born Argentina. My parents moved to Miami when I was five. And my parents have
1:37.0	been in the real estate business since just before 2007. So they really benefited from the crash, mostly because they didn't have any
1:47.9	assets. And so I always saw real estate as an investment, but growing up with the immigrant
1:54.7	mentality and being a little nervous about making such a big investment. When we were looking for homes, we were
2:03.2	definitely looking for something with an ADU or something that we might be able to Airbnb.
2:11.5	The other option was looking for a duplex or a building that we could own with several tenants.
2:19.1	None of that really worked out for us.
2:20.7	I was nervous or wasn't super comfortable with having an ADU and someone living at our house.
	...

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