Are you building vertical or horizontal income in your life? If you aren’t sure, don’t miss this exceptionally important episode of the BiggerPockets Podcast, where we talk with Pat Hiban about creating multiple streams of passive income. Pat, who is a New York Times bestselling author, shares his real estate journey with us today, starting from a humble “house hack” to participating in multi-million dollar apartment complex purchases. You’ll also learn why (and how) Pat has 61 different sources of “horizontal” income streams and the best ways to begin building your own. Don’t miss a second of this incredible show.
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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!
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In This Episode We Cover:
- Pat’s thoughts on being a real estate agent for 28 years
- Why many real estate agents don’t invest
- How he obtained his first property by house hacking
- The story of an illegal alien investor
- What Section 8 rentals are and why he invest in them
- The pros and cons of Section 8 tenants
- How he makes money through college rentals
- How he manages his properties
- How to make a property college-proof
- What exactly a “come bet” is
- Why he looks for track record before investing with someone
- A discussion on horizontal streams of income
- And SO much more!
Links from the Show
- BiggerPockets Videos
- BP Podcast 188: Using 20+ Years of Studying Market Cycles to Buy Low & Sell High with David Gudmundsen
- BiggerPockets Webinar
- BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager
- BP Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman
- BiggerPockets Forums
Books Mentioned in this Show
- Retire Young Retire Rich by Robert Kiyosaki
- The Surrender Experiment by Michael A. Singer
- 6 Steps to 7 Figures by Pat Hiban
- “My biggest regret is not buying a house a year.” (Tweet This!)
- “On Section 8, I buy where if they find out that I’ll put a Section 8 in there, they’ll be upset.” (Tweet This!)
- “Create bucket list moments and get the most out of life.” (Tweet This!)
Connect with Pat
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.