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Rental Income Podcast With Dan Lane

How He Lived For Free And Made $70,000 With A House Hack With Aaron Millis (Ep 343)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 30 November 2021

⏱️ 22 minutes

🧾️ Download transcript

Summary

The idea that you could borrow money to make money without having a lot of money blew Aaron's mind.

On this episode, Aaron talks about how he got started with rentals doing a house hack and ended up getting paid to live in his property, and made $70K when he sold that property a few years later.

We also talk about how he bought his second rental with no money down, and how having a real estate license and access to the MLS has helped him get better deals.

Transcript

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0:00.0

Inspiring interviews with today's top landlords.

0:04.7

This is the Rental M-Comcast.

0:07.6

And now, Dan Lane.

0:09.7

Aaron, before we started recording, you were telling me that you can't believe that investing in rentals is legal.

0:16.2

What do you mean by that?

0:17.7

Well, for me personally, I've had a few different entrepreneurial kind of

0:21.4

things I've tried to do, some that went well and some that went bad. But when I discovered

0:26.1

real estate and just all the things you can do, like ways you could buy a cash flowing asset

0:32.5

that will produce you income and that if it appraises for more you can keep the extra money and just pay

0:39.5

back the bank what they gave you the fact that you can borrow money to make money without ever

0:44.3

necessarily having a lot of money that just seems wild to me and when i learned about it i knew

0:49.9

this was going to be the thing for me Aaron read a book about rental properties and he put that

0:53.9

information right to use and it has made him a lot of money so far. His first property was a house

1:00.2

hack where he rented out rooms. He ended up living there for a couple of years. He sold it and made

1:05.6

$70,000. And currently he's working on his very first Burr project. On the show today, we're going to go over

1:12.8

his numbers and see exactly how everything is working out for him. Joining us on the show today from

1:18.8

Montgomery, Alabama is Aaron Millis. We'll take a really quick break to thank our sponsors. We'll

1:24.2

come right back and we'll talk to Aaron. A good deal on a rental property isn't going to last very long.

1:30.2

To win properties today, you need to move quickly when a deal comes on the market.

1:34.7

But it takes time to analyze a property.

1:37.8

I want to let you know about an app where you can analyze deals on your phone in seconds.

1:43.1

It's called Ask Rick. That's RIC for Rental Income

...

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