Escaping the “Grind" through Van Life and Cross-Country Investing
How far can you go? What are your “limits” in life? For most people, it’s easy to get discouraged by everyday barriers, but for today’s guest, not letting limits define him is what led to a brighter future. Tony Clark, today’s guest, identified and assessed his limits to determine his starting point. And now, he has three rental units, including a duplex in Nashville and a house in California.
Tony’s real estate investing journey started when he realized how expensive life is. After college, he worked at a church making decent money, but after dating his now wife, he realized that wasn’t enough to support a family. He turned to real estate to escape the grind and ensure he wouldn’t have to work crazy hours to live the life of his dreams. Once he recognized that he needed to buy an asset someone would want, he bought a transit van to rent out. From this purchase alone, he started his journey to pursue passive income.
From his experience with the transit van, he transitioned to real estate seamlessly. After identifying his limiting factors, he settled on Nashville—where he could enjoy living and where the numbers made sense. He’s also been able to build a team and even start a property management company. Tony is now much closer to his ultimate goal of buying better properties with great tenants, spending less time working and more time building his empire!
In This Episode We Cover
Why owning appreciating, cash-flowing assets is the true path to wealth
How to cut your expenses, live for cheap, and invest the rest
Utilizing the assets you own to save money, work less, and make money simultaneously
Limiting factors and how understanding your limits can make you a better investor
How to set your buying criteria, and how to find investments that fit your goals
Self-managing and what you need to run your own property management business
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Real Estate Rookie Facebook Group
Connect with Tony:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-245
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