Free Houses: How to Build a $1 Million Real Estate Portfolio on the Side (Greatest Hits)

The Side Hustle Show

Nick Loper

Business, Education, Entrepreneurship, How To

4.7 • 1.6K Ratings

🗓️ 28 March 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Austin Miller built a $1.2 million real estate portfolio at 31 years old -- for free. He's a side hustling real estate investor specializing in "creative" financing deals -- houses he can buy without using his own money. Austin is the author of Free Houses: How To Build Your Real Estate Investment Portfolio With No Money. His basic strategy is this: Find a killer deal on a house that needs some work. Buy it with the creative financing methods Austin talks about in this episode. Either do the work yourself or hire contractors. Put a paying tenant in the newly rehabbed home. Refinance the home with a traditional bank loan and pay back the original funding source. The end game is positive monthly cash flow from rental income, plus building a long-term wealth through tenants paying off the mortgage. Austin has developed some unique and interesting ways to hard money and private money to fund his property purchases. The best part – it’s truly a side hustle that can be done in a few hours a week the end result is passive income from rental revenue. Tune in to hear how Austin finds killer deals, buys the houses without risking his own capital, and then rehabs them to get ready to rent. Full Show Notes: Free Houses: How to Build a $1 Million Real Estate Portfolio on the Side New to the Show? Get your personalized money-making playlist here! Sponsors: Squarespace - Start building your professional website today! Indeed – Start hiring NOW with a $75 sponsored job credit to upgrade your job post! Airbnb - Start an Airbnb business and earn money as an Airbnb Host! This is Small Business Podcast - Brought to you by Amazon, explore the stories of small business owners as they navigate their path to success!

Transcript

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0:00.0	Here is an oldie but a goodie from the Archives from the Side Hustle Show Greatest Hits Collection.
0:06.0	Free Houses How to build a million dollar real estate portfolio on the side, even if you're broke. What's up, what's up, Nick, Loper here.
0:17.0	Welcome to the Side Hustle show because money only follows value.
0:21.0	Now people have been side hustling in real estate for centuries. It can be a great way to generate
0:26.4	passive or at least semi-passive cash flow to build wealth and to take advantage of
0:30.9	some friendly tax codes. The drawback is it's not cheap. For a lot of people, a house is the most expensive
0:37.6	purchase they're ever going to make. Now at the risk of sounding like a late night
0:40.6	infomercial, what if there was a way to get started in real estate investing
0:44.2	without putting your limited funds at risk? Could you use other people's money? That's why I invited
0:50.3	Austin Miller to join me on the show this week.
0:52.6	Austin got his start in real estate at 23 years old as a side hustle.
0:57.3	And over the last eight years has accumulated a property portfolio worth $1.2 million dollars and more importantly is cash flow
1:06.0	positive more than 3,000 dollars a month. But the kicker is that all of these
1:10.8	properties we're talking about more than a dozen homes, were free, meaning he didn't have to come up with the traditional 20% down payment to buy them.
1:19.0	Austin's the author of Free Houses, how to build your real estate investment portfolio with no money.
1:25.8	And he'll be the first to tell you, look, there's no free lunch, but he's consistently
1:29.9	been able to make these deals work without a giant stockpile of his own cash.
1:35.0	That's what we're diving into in this episode, the exact strategies Austin's used to build
1:39.7	this empire and how you may be able to borrow those same strategies to do the same.
1:44.9	His basic strategy is this. Find a killer deal, usually on a house that needs a lot of work,
1:49.6	buy it with creative financing or other people's money.
1:52.9	Those are the strategies that we're going to get into in the call.
	...

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