341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald
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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
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
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:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-341
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