Why do you want to invest in real estate? Is it just about having a lot of units—or is it about creating a life you can be proud of? On today’s episode of The BiggerPockets Podcast, we sit down with Josh Daniels, a real estate investor in Montana who, along with his wife Summer, has chosen to buy fewer but better deals on a quest for financial freedom. You’ll hear about Josh’s highly creative actions that turned their first deal into a cash-cow, as well as the shift to (and reason for) investing in single family houses. You’ll love Josh’s attitude toward financial freedom, as well as his message that you don’t need hundreds of units to be free.
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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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Equity Trust is a financial services company that enables individual investors to diversify investment portfolios through alternative asset classes, including real estate, tax liens, private equity and precious metals.
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In This Episode We Cover:
- How Josh got started investing right out of college
- The story behind his killer first rental
- Rental rates for this property
- How they earned $80k on their next deal
- What exactly a live-in flip is
- How they manage their properties
- A discussion on tenant drama in multi- vs. single-family properties
- Josh’s “why” in his investing
- How to handle emotional attachment to deals
- Tips on financing deals through the BRRRR method
- His thoughts on Dave Ramsey’s advice for paying off loans
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Bookstore
- 500k Net worth in 5 years (I’m 30 today!!!) (Forum Post)
- Dave Ramsey
- From Shop Teacher to Multifamily Syndicator with Todd Dexheimer
Books Mentioned in this Show
- The Millionaire Mind by Thomas J. Stanley
- The Millionaire Next Door by Thomas J. Stanley
- Brandon’s Book on Rental Property Investing
- The Total Money Makeover by Dave Ramsey
Fire Round Questions
- New member – Looking for advice on getting started
- How many chances do you give a tenant who pays late?
- This house has no takers
- “Ignore everything on the MLS. Drive every street and check out dilapidated properties.” (Tweet This!)
- “Life is not a competition.” (Tweet This!)