For some, the goal of real estate is to make tens of millions of dollars. For others, like today’s guest, it’s a way to finance an incredible life. Today’s guest, Luke Swab, shares with us his story of designing his lifestyle through real estate and how you can do the same. Luke’s story will take you from the wild waters of Alaska to a motorcycle trip through Africa to the streets of Michigan real estate and more! Don’t miss this incredible honest, humorous, and informative episode!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
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A huge thanks as well to our Fire Round sponsor FreshBooks.
FreshBooks customers spend less time on paperwork, freeing up 2 days per month to focus on the work they love. What would you do with that extra time?
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In This Episode We Cover:
- Where Luke is from
- Details on his main job and career choices
- How he transitioned from a “career mistake” to real estate
- What is a land contract?
- Why get into real estate when you have a good paying job
- Thoughts on buying a house to live in
- Luke’s second properties and house hacking
- A discussion on getting property through the MLS
- How he rehabbed a property
- Tips for treating your tenants well
- Rental property you should avoid
- How to create a “predictable portfolio“
- What his current portfolio looks like
- The importance of not having much debt
- How to make sure your cash flow is there
- The real estate investing lifestyle
- How he manages his property
- What a low maintenance property entails
- Why BRRRR investing is hard
- The worst mistake he’s made
- And SO much more!
Links from the Show
- Brandon’s Instagram
- BiggerPockets Facebook
- BiggerPockets Instagram
- BiggerPockets Twitter
- How to Make $100,000 Per Year with Fixer-Upper Rental Properties
- BiggerPockets Webinar Pro Replay
- Early Retirement, Real Estate Bubbles, and Dangerous Scams with Radio/TV Star Clark Howard!
- BiggerPockets Jobs
Books Mentioned in this Show
- Brandon’s New Book (coming really soon!)
- How an Economy Grows and Why It Crashes by Peter D. Schiff
- “People need to decide what’s important to them, time, money, relationships, whatever and go from there.” (Tweet This!)
- “I can learn anything, so I can learn how to do that as well.” (Tweet This!)
- “If you’ve done a deal, people will look differently than if you’ve never done a deal.” (Tweet This!)