For some people, real estate investing is “too risky.” But what if a small, cash-flowing portfolio could provide financial stability when you lose your job? If you asked today’s guests, they might say it’s too risky NOT to buy rental properties!
Welcome back to the Real Estate Rookie podcast! Kevin and Julia Windheuser got into real estate at the perfect time. Shortly after building a small portfolio with six total doors, Kevin was let go from his “safe” engineering job. With no W2 income, the couple leaned on the steady income from their rentals. This $4,000 monthly cash flow bought them the time to not only work on their real estate business but also find Kevin a new job.
In this episode, you’ll learn about the power of a “small and mighty” rental portfolio and how it can insulate your finances when times are tough. Kevin and Julia also talk about why they chose a market just outside their backyard, as well as how they estimate rehab costs. Tired of bad tenants? Julia shares the unique screening process she uses to guarantee the best tenants in town!
In This Episode We Cover:
How to build a small portfolio of cash-flowing rental properties
How multiple streams of income can save you financially in life
Choosing a market when your backyard is too expensive to invest
Home renovation projects YOU can tackle (and which ones to outsource)
Simple ways to estimate rehab costs as a new investor
How to improve your screening process and get better tenants in your rentals
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
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio
Making $10K/Month with a “Small and Mighty” Rental Portfolio
How to Screen Tenants for Rental Property
Rental Management Tools for Landlords:
RentRedi
Stessa
Connect with Kevin & Julia:
Kevin and Julia's Instagram: @luxlivingri
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-372
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
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244: Rookie Reply: How to Estimate Rehab Costs and Where to Find the Right CPA
243: The Short-Term Rental Cheat Code for More Bookings and Fewer Fees in 2023 w/Mark Simpson
242: Rookie Reply: How to Get a Better Price on That Off-Market Property
241: From Line Cook to Long-Term Investor with 32 Wholesale Deals w/Sahleem Lee
240: Rookie Reply: How to Get a Better Price on That Off-Market Property w/Ethan Wilson and Jamil Damji
239: The Rookie's Guide to 2023 Goal Setting: How to Achieve HUGE Goals This Year
238: Rookie Reply: Section 8 Investing and Which Cash Flow Markets Make Sense w/Ashley Hamilton
237: The Cash-Flowing Car Wash and Early Retirement Through Creative Real Estate w/Daniel Schiermeyer
236: Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials w/Pace Morby
235: Investing in 100-Year-Old Homes Straight Out of College and the "PRR" Method w/Amy Wright and Mitch Mathern
234: Rookie Reply: You DON'T Need Experience to Invest in Real Estate w/InvestorGirlBritt
233: $1.1M in Real Estate at 21 WITHOUT a W2, Tax Return, or Degree! w/Logan Kohn
232: Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals w/Sarah Weaver and Zeona McIntyre
231: Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing w/Jessie Dillion
230: Rookie Reply: The 1% Rule, Turnkey Rentals, and Escrow Accounts Explained w/Zach Lemaster
229: Cashing In On Overlooked Off-Market Deals & Overcoming Analysis Paralysis w/Ryan John
228: Rookie Reply: How to Beat Cash Buyers, Tenant Brawls, and Appraisal Tips
227: The Vice-Principal Who Built a 9-Unit Rental Portfolio on The Weekends w/Mackenzie Grate
226: Rookie Reply: Financing Your First Rental, Leases, and High Interest Rates
225: Tiny Homes, Huge Profits: $6,000 a Month from 1 Property! w/Josiah Hein
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