How I Bought My First Rental Property at 18 With $5K Saved
Dropping Bombs
Brad Lea
4.8 • 2.3K Ratings
🗓️ 23 November 2025
⏱️ 69 minutes
🧾️ Download transcript
Summary
This episode sponsored by Carpenter Realty
LightSpeed VT: https://www.lightspeedvt.com/
Dropping Bombs Podcast: https://www.droppingbombs.com/
In this explosive Dropping Bombs episode, Larry Carpenter III drops a straight-up masterclass on scaling rentals fast — creative financing, the 1% rule, cash-out refinances, and why "hard work alone" keeps you poor.
From buying his first house at 18 to now owning 400+ doors with Carpenter Realty — Larry reveals exactly how he did it: sourcing off-market deals nobody wants, knowing when to never sell, Section 8 realities, property management at scale, the math to decide in minutes, and partnerships + seller financing that 10x'd his portfolio. If you're ready for your first door or your next hundred, this is your green light.
🔗 Connect with Larry Carpenter III
Instagram — https://www.instagram.com/carpenterrealestate/
Facebook — https://www.facebook.com/larry.carpenter3
LinkedIn — https://www.linkedin.com/in/larry-w-carpenter-iii-548b7893/
Carpenter Coaching Group — https://carpentercoachinggroup.com
Carpenter Realty — https://www.carpenterrealty.com/
Carpenter Realty (FB) — https://www.facebook.com/CarpenterRealty
Jasper Properties (FB) — https://www.facebook.com/jasperproperties/
BB Fit (Gym) (FB) — https://www.facebook.com/bbfit11/
Watch the full-length video version of any Dropping Bombs episode here on YouTube.
Brad Lea is a self-made entrepreneur who turned small-town grit into a multi-million-dollar empire. With over 25 years dominating sales and leadership, he's mentored thousands to outsmart, outwork, and out win their competition. His top-rated podcast, Dropping Bombs, brings raw, game-changing insights from the biggest names in business.
LightSpeed VT is Brad's brainchild—the world's leading interactive training platform. It's built to make your team sharper, faster, and more effective, without wasting time or money. Whether you're a startup or a Fortune 500, LightSpeed VT is how you scale success and dominate your industry. Curious? Check it out:
https://www.lightspeedvt.com/
Brad's also behind Closer School, the go-to program for mastering sales and closing deals like a pro. Want to 10x your income? This is where you start. His book, The Hard Way, lays out the brutal, honest lessons he learned building his empire—your blueprint to winning the game. Get it here: https://bradlea.com/product/the-hard-way/
This isn't just a video. It's a wake-up call. Watch it. Share it. Act on it.
Closer School: https://www.closerschool.com/cs
Transcript
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| 0:00.0 | I bought my first house whenever I was a senior high school and rented it out right away. Did they ever freak out that a little teenager owned the house they lived in? Oh yeah. How much did you put down? $5,000. How many houses you got now? |
| 0:10.9 | 400 plus units. A billionaire told me once the trick is to never sell. I'll go to the closing table and I'll walk away with a property and a check. The biggest deals that I did, it had a million dollars |
| 0:21.1 | in equity and I had essentially no money in it. Should anyone ever pay cash for a house? |
| 0:26.0 | No. You should always get a loan. See, Dave Ramsey will say you're full of shit. |
| 0:29.9 | Right. Yeah. Why wouldn't I pay it in cash? Well, because... |
| 0:34.5 | What happens when the interest rates drop here soon? Do you think the biggest mistake new investors make? |
| 0:42.4 | I think. |
| 0:46.0 | What it is, Brad Lee back again with another episode of dropping bombs today in the studio, folks. |
| 0:51.3 | I got a real treat for you, especially if you like making money. |
| 0:55.5 | My man, Larry Carpenter the third up in this biscuit. |
| 0:59.4 | What's up, Larry? |
| 1:00.7 | How's it going? |
| 1:01.9 | Glad to be here. |
| 1:02.9 | It's going. |
| 1:03.9 | Not as good as you, though. |
| 1:05.3 | Yeah. |
| 1:06.4 | Right. |
| 1:06.9 | Dude, if you guys don't know this dude, A, you can find him on Instagram, social media, but Instagram at Carpenter Real Estate. |
| 1:15.0 | When I first saw this, I'm thinking, great, another realtor. |
| 1:20.2 | Like, I think I've talked enough about real estate and, you know, that I'm good. |
| 1:25.3 | But when I started reading your story, I'm like, wait a minute, this guy is a little bit |
| 1:29.4 | different than the average realtor. |
... |
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