Want BIG cash flow numbers? How about $400K/year cash flow? Would that be enough to set you financially free? For Amanda and David Fornelli, this is reality, and it’s all thanks to one very unique rental property investment. And even though these numbers are massive, Amanda and David aren’t that removed from being real estate rookies. Just five years ago, they didn’t own any rental properties and were W2 workers just looking for a way to make some extra income.After finding thems...
Want BIG cash flow numbers? How about $400K/year cash flow? Would that be enough to set you financially free? For Amanda and David Fornelli, this is reality, and it’s all thanks to one very unique rental property investment. And even though these numbers are massive, Amanda and David aren’t that removed from being real estate rookies. Just five years ago, they didn’t own any rental properties and were W2 workers just looking for a way to make some extra income.
After finding themselves in a real estate investing program, this power couple began flipping any house they could get their hands on in Southern California. Within three months, David had made twice as much from flips as he did at his day job, so he quit, and the rest is history. Now, they’re full-time investors, still flipping houses, but ALSO running a multimillion-dollar boutique hotel that’s making them hundreds of thousands of dollars a year in profit.
In today’s episode, Amanda and David talk about leaving their jobs to flip houses full time, how they slowly realized that short-term rentals beat the short-term profits of house flipping, why they’re still investing in high-priced Sothern California, and the massive cash flow they’re making off their very first commercial real estate investment—a small, but very profitable boutique hotel.
In This Episode We Cover:
Making $400K/year from an unconventional type of rental property
When it’s time to quit your job and become a full-time real estate investor
Using the BRRRR strategy to make massive wealth gains WITHOUT investing your own money
How to mitigate risk when doing high-priced house flips (especially as a beginner!)
Raising private money and how to buy bigger, better real estate deals without using your own cash
Short-term rental vs. hotel investing and why you CANNOT treat these as the same assets
And So Much More!
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How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal
Private Capital Explained: The 4-Second Pitch to Unlock Unlimited Funds w/Amy Mahjoory
Stay At Yara Palm Springs - Instagram: @yarapalmsprings
Stay At Yara Palm Springs - Website
Connect with Amanda & David:
Amanda Instagram: @_amandafornelli_
David Instagram: @davidjfornelli
Portfolio Instagram: @nopali_properties
Nopali Properties - Website
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-908
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