Semi-Retired with a Small $6,000/Month Rental Portfolio

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 23 June 2025

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

This investor used his primary residence to build a $6,000/month rental property portfolio—helping him semi-retire, cut his workload in half, and generate a sizable income stream outside his job. And he did it with affordable, small multifamily rental properties that he still buys in today’s market, all while working a demanding schedule that required his attention 24/7, 40 weeks per year. Bill Price has worked as a sound engineer for some of the music industry’s biggest names. He’s toured with Justin Bieber, Weezer, and Third Eye Blind (among many more), working intensive hours on global tours. But, in the background, when he was off the road, Bill was building an intentional real estate portfolio to replace his income. Today, less than a decade after buying his first true rental, he’s working just 16 weeks per year instead of 40. Bill made some mistakes and some BIG bets that paid off. We’re talking terrible tenants, eviction notices, bird cages, dog droppings, and flooded basements. But, through it all, Bill says it was well worth it, as 90% of his rental property investing career has been buying deals and collecting checks. If Bill can manage a rental portfolio while touring in Japan and setting up an impromptu skate park for Justin Bieber, why can’t you? In This Episode We Cover How to cut your workload in HALF with a small, cash-flowing rental property portfolio Turning your primary residence into multiple rental properties so you can scale faster A big eviction mistake that cost Bill months of time with a bad tenant Doing a BRRRR (Buy, Rehab, Rent, Refinance, Repeat)? Why you should run your numbers as a flip, too Why you should tell EVERYONE within your circle that you buy rental properties! And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/real-estate-1138 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	Just a few rental properties can change your entire life. Today's guest rolled his former
0:05.8	primary home into three rentals, and five years later, he has 13 units, and he has cut his
0:11.8	taxing work schedule in half. And this isn't some secret path that you need millions of
0:17.8	dollars to follow. His first property was a condo for $240,000.
0:23.1	And this just shows that anyone can do it. So let's find out how.
0:31.8	Hey, everyone. I'm Dave Meyer. I've been investing in rental properties for 15 years. And on this
0:37.1	podcast, I bring you the
0:38.3	stories of fellow real estate investors who have also changed their lives through real estate.
0:43.5	Today's guest is Bill Price. He started with a two-bedroom condo in Milwaukee and actually
0:48.5	went more than 10 years between buying properties. But eventually, he grew his portfolio to 13 units over the course of six years.
0:57.8	Nearly all of his properties have cost under 300,000.
1:01.3	But even that modest, manageable real estate investing has allowed him to take more time off
1:07.3	from his very travel-intensive day job and would allow him to retire early in the
1:12.8	future if he chooses to. This is a great conversation about the power of even basic real
1:19.5	estate investing strategies. Bill isn't doing anything crazy or difficult or time-intensive.
1:25.5	He's just taking advantage of compounding his wealth over time.
1:29.4	Let's bring on Bill. Bill, welcome to the podcast. Thanks for being here. Yeah, thanks for having me.
1:35.0	Looking forward to this. Yeah, me too. So tell us a little bit about yourself. How did you get
1:39.4	involved in real estate in the first place? Yeah, so I moved to Milwaukee in 2004 right after college, and I got
1:48.2	involved in the entertainment production side of things. Went to school for music and sound
1:52.9	production and got hooked up with a company doing all the big festivals, concerts in Milwaukee,
1:59.0	Chicago, all that. That sounds fun.
	...

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