Saving for your first rental property can take a while, but adding side hustle income could help you stockpile enough cash to buy much sooner. Today’s guest discovered the PERFECT side hustle to pair with his W2 income—allowing him to fast-track his savings and close on his first two investment properties in no time!
Welcome back to the "Real Estate Rookie" podcast! Today, we’re joined by Dan McDonald, an investor who house hacks to help cover his mortgage in an expensive market. Dan’s goal? To reach financial freedom by the age of forty. And, with two newly renovated duplexes that should not only cash flow but also appreciate in value, he’s well on his way to achieving that lofty goal!
If you don’t quite have enough cash to invest in real estate, don't worry—Dan, Ashley, and Tony are here to offer some timely advice on how to increase your income with side hustles. You’ll also learn how to get started with house hacking (and how to convince your spouse that it’s the right move). Stay tuned until the very end to hear Dan’s top house hacking tips that ALL rookies must know!
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~~~~ Books Mentioned in This Episode: “Real Estate Partnerships”: “The House Hacking Strategy”: ~~~~ Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties w/ Craig Curelop:
~~~~ No Money for Real Estate? 2 Side Hustles You Can Use to Fund Your First Deal:
~~~~ Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units:
~~~~ Connect with Dan: BiggerPockets: Instagram: @househackandhustle or Website: ~~~~ Connect with Ashley and Tony on BiggerPockets: Ashley: Tony: ~~~~ Connect with Ashley and Tony on Instagram: Ashley: @wealthfromrentals or Tony: @tonyjrobinson or
Show notes at:
00:00 Intro
02:46 House Hacking 101
08:07 Getting Your Spouse on Board
16:59 WHY Real Estate?
22:31 Buying the First Duplex
34:51 The Serial Side Hustler
41:54 Buying the Second Duplex
45:38 Dan’s Top House Hacking Tips
48:15 Rookie Request Line
50:16 Rookie Exam
53:28 Rookie Rockstar
54:09 Connect with Dan!
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By: Real Estate Rookie Title: The BEST Side Hustle to Help You Buy Your First Rental Property Sourced From: www.youtube.com/watch?v=9IagHKHwf08
