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Real Estate Rookie

Investing in Real Estate WITHOUT a W2? How I Bought 3 Properties in 2 Years!

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 4 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Can you start investing in real estate WITHOUT a stable W2 job? How will you get a loan? What happens if you have a fluctuating income? Are you completely out of luck? Not at all! Today’s guest, David Sladewski, proves that you can STILL invest in real estate no matter your age, experience, or whether you have a “stable” job. At just twenty years old, he already has three rental units and a live in flip; plus, he did it all while self-employed. At the age of seventeen, David learned about real estate from his brother. Poised to become his own boss and make money without an earning “ceiling,” he decided that getting his real estate license and becoming an agent was the best bet. Within half a year, he went from having no money to building a solid real estate agent business and was ready to invest. The problem? Lenders WON’T give you a loan without multiple years of income history.  But that didn’t stop David. He was able to buy a great first rental property, a duplex, thanks to one brilliant move. David then found other lender “loopholes” that helped him close on his dream rental property and a flip he’s working on as we speak. How did he get around the seemingly impossible task of finding funding WITHOUT a W2 job? Stick around to find out! In This Episode We Cover: Why you DON’T need a W2 job to start investing in real estate  Doing your first real estate deal with ZERO experience and why you MUST “bet on yourself” Real estate partnerships for beginners and how to invest without having a ton of money  The lender “loophole” David found after going through FOUR different mortgage lenders (try this, too!) Why you should live in your rental property BEFORE you rent it out  Doing a “live in flip” and home renovation mistakes that David learned the hard way  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 Easily Identify Great Investing Markets with BiggerPockets Market Finder Grab Ashley and Tony’s Book, “Real Estate Partnerships” Find Investor-Friendly Lenders BiggerNews: This Area Has the BEST Cash Flow Potential in the Country Connect with David (00:00) Intro (01:08) Starting at Just 17 (06:04) First Deal WITHOUT Stable W2 (13:15) Structuring a Partnership (14:43) Finding a Lender Loophole (20:53) Home Run Rental in THIS Neighborhood (24:52) Trying to Flip a House (33:48) Future Goals and Advice Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-479 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

At just 20 years old, our guest is already making big moves.

0:04.1

He's managed to buy three properties in just two years.

0:07.6

His story proves that age is just a number when it comes to building wealth through real estate.

0:12.5

He's learned a ton in a short time.

0:14.8

And now he's here to share the strategies that helped him fast track his success.

0:19.6

Whether you're a seasoned investor or just getting started, there's a lot you won't want to miss,

0:24.2

so keep listening.

0:25.8

This is The Real Estate Rookie Podcast.

0:28.2

I'm Ashley Care, and I'm here with Tony J. Robinson.

0:32.3

And welcome to the podcast where every week, three times a week,

0:35.5

we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey.

0:40.7

And today I am super excited to have David Sladuski on the podcast.

0:44.5

So David, welcome on to the Real Estate Riki podcast.

0:46.7

I'm excited to have you.

0:47.6

Hey, thank you guys for having me.

0:48.8

I appreciate it. we're going to cover today is building capital to invest at a relatively young age,

0:55.0

how to break into the market today, even with all of the different kind of challenges that

0:59.1

might be going on, and then things to avoid if you're considering rehabbing.

1:03.2

So, David, again, super excited to jump in here, man.

1:05.0

Yeah, no, I'm grateful for you guys having me.

1:06.6

I'm excited to share what I've learned along the way.

1:08.5

David, before we get into all of your accomplishments, what made you even decide on starting to invest in real estate?

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