DiscoverReal Estate Rookie341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald
341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald

341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald

Update: 2023-11-211
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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!

In This Episode We Cover:

The fast-cash side hustle that can help you buy your first rental

How to get your spouse on board with real estate (and house hacking!)

The “easiest” real estate investing strategy that ALL rookies should know

Essential tips and tricks for first-time house hackers

Appreciation versus cash flow (and which one YOU should target!)

When to offer MORE than the asking price on a property

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Ask Us Your Investing Question

Apply to Be a Guest on the “Real Estate Rookie” Podcast

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

Books Mentioned in the Show

Real Estate Partnerships by Ashley Kehr & Tony Robinson

The House Hacking Strategy by Craig Curelop

Connect with Dan:

Dan's BiggerPockets Profile

Dan's Instagram

Dan's Website


Check the full show notes here: https://www.biggerpockets.com/blog/rookie-341

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

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341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald

341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald

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