291: Living for FREE at 22 and Planning to Retire by 30 with Rentals w/Ryan Hughes
Description
Who knew living for free could be as simple as house hacking and renting rooms out to a few college friends? Today’s guest was able to generate enough monthly income from his first real estate deal to cover his mortgage payment each month—and then some!
Welcome back to another episode of the Real Estate Rookie podcast! Ryan Hughes’ real estate investing journey started at the age of fourteen, when his father allowed him to go in on a real estate deal. Naturally, Ryan was ready and eager to start investing in his own rental properties by the time he graduated from college. Within months, he had bought his first investment property, one he conveniently spotted while jogging around his neighborhood. Shortly after closing, Ryan had seven people living in the house and paying rent to fully cover his mortgage payment, utilities, and more.
If you’re interested in living for “free” and attaining financial freedom, you’ll want to hear what Ryan has to share about house hacking, building your real estate network, and how to keep the peace with other tenants. As always, Ashley and Tony have some invaluable insights to share as well—from leveraging debt the right way to finding the best home loan products!
In This Episode We Cover
How to live for FREE by house hacking and renting out rooms
Managing tenants when they live with you (and share your stuff!)
Identifying housing markets where cheap properties will appreciate
Tapping into a real estate agent’s network and leveraging their connections
Using an inspection report to your advantage before closing on a property
How to find a home loan that benefits both the buyer and seller
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Analyze Your Own Deals Using the BiggerPockets Rental Property Calculator
Living for “Free” with 63 Self-Storage Units
Follow Ana Karina on Instagram for Real Estate, Tax, and Bookkeeping Advice
Connect with Ryan:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-291
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