Making $300K+ Profit Per Rental and Scaling FAST with “DADUs” w/Christian & Shannon Nossum

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 21 August 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Making a $300,000 profit from ONE rental?! Imagine how quickly you could reach financial freedom by raking in this amount of profit and reinvesting it into your real estate portfolio. There’s an investing strategy that allows you to take home six figures from a single sale, and today’s guests are going to share it with you! Welcome back to the Real Estate Rookie podcast! Christian and Shannon Nossum have been house hacking since college. Once they realized that renting rooms to their friends was a surefire way to maximize their cash flow and live for FREE, they worked hard to buy more homes and convert them into student housing. But how do they fund these large investment properties and renovation projects? They build detached accessory dwelling units (DADUs) and pocket an enormous profit whenever they flip one of these units. The best part? They don’t even need to sell their entire property! As more and more states allow DADU construction, it’s time for investors to take advantage of this huge opportunity in 2024. Tune in to learn the ins and outs of this lucrative strategy and the best ways to redeploy your profits. Along the way, you’ll learn how to pin down your niche, find more real estate deals, and multiply your cash flow by renting by the room! In This Episode We Cover: Making a HUGE profit by flipping detached accessory dwelling units (DADUs) Why student housing presents a huge opportunity for investors in 2024 How to boost your cash flow with the rent-by-the-room strategy Maximizing home value with the BRRRR method (buy, rehab, rent, refinance, repeat) How to find MORE real estate deals (even in a competitive market!) How to fast-track the permitting process for your home renovations And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy the Book “The House Hacking Strategy” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Build a Six-Figure Student Housing Portfolio with These Simple Steps (00:00) Intro (00:49) Living for FREE in College (05:24) Student Housing 101 (12:13) Building the DADU (19:09) Making a $300K Profit?! (27:11) Adding Value & Finding Deals (30:38) How to Find Your Niche (35:20) Connect with the Nossums! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-447 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	This is the real estate rookie podcast. I'm Ashley Care and I'm here with Tony J Robinson.
0:06.5	And welcome to the real estate rookie podcast where every week, three times a week,
0:10.4	we bring you the inspiration, motivation, and stories you need to hear to
0:14.0	kick start your investing journey. Now today we are bringing Christian and Shannon Nossam.
0:18.9	They got their start house hacking in college and since then they've grown their portfolio to over 12
0:24.2	property so today we're going to discuss why student housing is both great for
0:29.0	appreciation and cash flow how adding a dadu to a property can land you over $400,000 in profit
0:36.3	PS if you know what a dadu is we'll break that down today as well.
0:39.1	Christian and Shannon thank you both so much for coming on to the real estate
0:42.2	rookie podcast. Yeah thanks for having us to the Real Estate Worky Podcast.
0:43.0	Yeah, thanks for having us.
0:44.0	We're super excited to be here.
0:45.4	Yes, we've been listening to all the podcasts forever,
0:48.2	and we're just thrilled to talk to you guys.
0:50.2	Well, I think the first thing we need to start with
0:52.2	is how you got your start in college.
0:54.0	What were you, how did you even get the forethought to get into real estate investing that young?
1:00.0	Yeah, well, my story goes back even further. I won't bore you with that, but I was a weird entrepreneurial kid and I would buy, like I had a paper out and, you know, newspaper out, lawn mowing money, all that, and I would buy the no money down
1:14.9	infomercial courses as like a 10 year old.
1:18.3	And then I would go on different forms like bigger pockets back in the day and I would learn just a
1:24.2	ton about real estate and when it came time to move out after college actually I
1:29.8	stopped going to school after my second year when I I did that, I moved into a big house
	...

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