From $0 to Financially Independent in 3.5 Years!

Real Estate Success Stories
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From $0 to Financially Independent in 3.5 Years!

Jason Velie
Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes

I started real estate investing 3.5 years ago with no money, after listening to Bigger Pockets and learning about Hard Money Lenders, Private Lenders, etc. I had a career in Finance that covered our living expenses, so we didn't have to use any real estate income to live off of. For my first flip, I used a HML that funded 100% of the purchase and rehab, and leveraged a credit card for closing costs, etc.

My model from day 1 has been to flip single-family houses (including a lot of singlewides and doublewides on land) and buy-and-hold multi-family. I use property managers for my apartments, and contractors for my flips. My pure passive cash flow from my apartment rentals has recently surpassed our living expenses, so I quit my 6-figure Finance career to do REI full-time. I am currently flipping 9 houses (no partners or employees), and my rental portfolio is made up of:

8-Unit - 100% Ownership

16-Unit - 50% Ownership

20-Unit - 65% Ownership

15-Unit - 100% Ownership (pending to buy this one next week)

I just want to say thank you to BP for the life-changing content that has changed the trajectory of my family's lives. I wouldn't have known it was possible otherwise. 

If I can do it, you can too!

P.S. If you're attending BPCON in Orlando this year, hit me up!

23Reply
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Shawn McCormickPro Member
Realtor 路 Central Florida-Orlando 路 Member since 2014 路 1k+ posts 路 892 votes
3y

@Jason Velie Awesome story, congratulations. I'll be at BPCON, hopefully we can meet up!

3Reply
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26 Replies

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  • Noah BaconPro Member
    Property Manager 路 Lansdale, PA 路 Member since 2021 路 826 posts 路 1k+ votes
    3y

    Great job, Jason! Can't wait to meet you at BPCON馃尨馃敟

    2Reply
  • Account Closed
    Editorial Director at BiggerPockets 路 Atlanta, GA 路 Member since 2023 路 19 posts 路 42 votes
    3y

    Awesome job!

    1Reply
  • Sparkle Carlock
    New to Real Estate 路 Indianapolis, IN 路 Member since 2022 路 36 posts 路 28 votes
    3y

    @JasonVelie - First, congratulations!!! this story is amazing and inspiring. It is just what newbies like myself needed to hear! 

    How can I learn to leverage a credit card? I'm just starting with a similar goal as yours as it pertains to flipping SFH. I'd love to get more knowledge on how to finance with a HML - I have one already actually.

    2Reply
  • Tyler GibsonBusiness Member
    Real Estate Agent 路 Orlando, FL 路 Member since 2017 路 1k+ posts 路 2k+ votes
    3y
    Quote from @Jason Velie:

    I started real estate investing 3.5 years ago with no money, after listening to Bigger Pockets and learning about Hard Money Lenders, Private Lenders, etc. I had a career in Finance that covered our living expenses, so we didn't have to use any real estate income to live off of. For my first flip, I used a HML that funded 100% of the purchase and rehab, and leveraged a credit card for closing costs, etc.

    My model from day 1 has been to flip single-family houses (including a lot of singlewides and doublewides on land) and buy-and-hold multi-family. I use property managers for my apartments, and contractors for my flips. My pure passive cash flow from my apartment rentals has recently surpassed our living expenses, so I quit my 6-figure Finance career to do REI full-time. I am currently flipping 9 houses (no partners or employees), and my rental portfolio is made up of:

    8-Unit - 100% Ownership

    16-Unit - 50% Ownership

    20-Unit - 65% Ownership

    15-Unit - 100% Ownership (pending to buy this one next week)

    I just want to say thank you to BP for the life-changing content that has changed the trajectory of my family's lives. I wouldn't have known it was possible otherwise. 

    If I can do it, you can too!

    P.S. If you're attending BPCON in Orlando this year, hit me up!


     Incredible story! I live here in Orlando and will be at BPCON, would love to meet. 

    I too was able to leave my career in corporate America thanks to bigger pockets but my story is a little different. 

    See you in Orlando!

    [email protected]407-590-9858
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    2Reply
  • Shawn McCormickPro Member
    Realtor 路 Central Florida-Orlando 路 Member since 2014 路 1k+ posts 路 892 votes
    3y

    @Jason Velie Awesome story, congratulations. I'll be at BPCON, hopefully we can meet up!

    3Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    3y

    @Sparkle Carlock

    I used Venmo to do a cash advance on a credit card to cover the closing costs on my first flip.

    2Reply
  • Rachit Puri
    New to Real Estate 路 Seattle 路 Member since 2019 路 11 posts 路 3 votes
    3y

    Amazing story. Thanks for sharing :)

    Do you mind sharing the cities you have invested and flipped houses?

    0Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    3y

    @Rachit Puri

    Hey, if you look at my profile (on a desktop), you can see most of the deals that I鈥檝e done and the cities that they鈥檙e in. Almost everything has been in the Wilmington, NC area.

    2Reply
  • Stephanie MankePro Member
    Real Estate Agent 路 Wilmington NC 路 Member since 2019 路 4 posts 路 2 votes
    3y

    Go Jason!  I'll be at BP Con!

    1Reply
  • Joe PrillamanPro Member
    Rental Property Investor 路 Carolina Beach, NC 路 Member since 2017 路 441 posts 路 462 votes
    3y

    What a stud muffin!

    0Reply
  • Henry Lazerow
    Real Estate Agent 路 Chicago, IL 路 Member since 2017 路 2k+ posts 路 2k+ votes
    3y

    Awesome job! 

    0Reply
  • Joshua Amezcua
    Investor 路 Mesa, AZ 路 Member since 2023 路 41 posts 路 17 votes
    3y
    Quote from @Jason Velie:

    I started real estate investing 3.5 years ago with no money, after listening to Bigger Pockets and learning about Hard Money Lenders, Private Lenders, etc. I had a career in Finance that covered our living expenses, so we didn't have to use any real estate income to live off of. For my first flip, I used a HML that funded 100% of the purchase and rehab, and leveraged a credit card for closing costs, etc.

    My model from day 1 has been to flip single-family houses (including a lot of singlewides and doublewides on land) and buy-and-hold multi-family. I use property managers for my apartments, and contractors for my flips. My pure passive cash flow from my apartment rentals has recently surpassed our living expenses, so I quit my 6-figure Finance career to do REI full-time. I am currently flipping 9 houses (no partners or employees), and my rental portfolio is made up of:

    8-Unit - 100% Ownership

    16-Unit - 50% Ownership

    20-Unit - 65% Ownership

    15-Unit - 100% Ownership (pending to buy this one next week)

    I just want to say thank you to BP for the life-changing content that has changed the trajectory of my family's lives. I wouldn't have known it was possible otherwise. 

    If I can do it, you can too!

    P.S. If you're attending BPCON in Orlando this year, hit me up!

    Sorry to revive an older thread, but I wanted to ask this. Could what you accomplished over th last 3.5 years have been accomplished in 3.5 years from today, starting in this market we're currently in now?

    Whatever the answer is, can you please elaborate? Thanks!

    0Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    3y

    @Joshua Amezcua

    Absolutely! In fact, knowing what I know now, I'm confident that I could easily do it in half the time or less. I am finding more deals (and at greater discounts) now than ever before! Everything I buy is off-market. Nothing in my area is worth looking at if it's on the MLS. Everyone that whines about having no deals simply isn't doing enough marketing.

    1Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor 路 Kansas City, MO 路 Member since 2014 路 10k+ posts 路 5k+ votes
    3y

    Impressive! Congrats Jason

    Podcast Guest on Show #121
    0Reply
  • Cliff BennerBusiness Member
    Accountant 路 Denver, CO 路 Member since 2020 路 392 posts 路 183 votes
    3y

    @Jason Velie did you find that flipping trailers/singlewides/doublewides that were on land already, was relatively easy to do? What were some issues with those that you found?

    Congrats on the success! Your story makes me more hopeful!

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    0Reply
  • Trevor DeSimone
    Investor 路 NH 路 Member since 2021 路 39 posts 路 34 votes
    3y
    Quote from @Jason Velie:

    @Joshua Amezcua

    Absolutely! In fact, knowing what I know now, I'm confident that I could easily do it in half the time or less. I am finding more deals (and at greater discounts) now than ever before! Everything I buy is off-market. Nothing in my area is worth looking at if it's on the MLS. Everyone that whines about having no deals simply isn't doing enough marketing.

    Are you doing your own marketing to find off market deals? Direct to seller via cold calling or mailers, etc; Or are you finding your off market deals through other means like Wholesalers? 

    Planning on attending BP Con as well, Might chat you up!
    0Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    3y
    Quote from @Cliff Benner:

    @Jason Velie did you find that flipping trailers/singlewides/doublewides that were on land already, was relatively easy to do? What were some issues with those that you found?

    Congrats on the success! Your story makes me more hopeful!


    Thanks! And yes, flipping trailers (on land) has been pretty easy, and an incredibly lucrative niche. There are a few little nuances you need to be aware of regarding the age of the trailer, what a "permanent foundation" is, and title work. You (or your attorney) need to get the VIN/serial # off of the data plate inside the trailer, and make sure there is no active title with the DMV, and that the "Intent of Affix" form has been recorded with the county. Full disclaimer though, I've only ever done this in NC, so I don't know what differences other states entail. 

    1Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    3y
    Quote from @Trevor DeSimone:
    Quote from @Jason Velie:

    @Joshua Amezcua

    Absolutely! In fact, knowing what I know now, I'm confident that I could easily do it in half the time or less. I am finding more deals (and at greater discounts) now than ever before! Everything I buy is off-market. Nothing in my area is worth looking at if it's on the MLS. Everyone that whines about having no deals simply isn't doing enough marketing.

    Are you doing your own marketing to find off market deals? Direct to seller via cold calling or mailers, etc; Or are you finding your off market deals through other means like Wholesalers? 

    Planning on attending BP Con as well, Might chat you up!

     Hey man, on average, about half of my deals come from wholesalers, and the other half I source on my own from a mixture of direct mail, billboards, word-of-mouth, SEO, PPC, social media ads, etc. As I've begun to have more capital (and less time) to work with, I've been shifting my marketing more heavily to online marketing.

    3Reply
  • Bhekizwe M.
    Bulawayo, Zimbabwe 路 Member since 2015 路 1k+ posts 路 253 votes
    3y
    Thanks for sharing.inspiring...
    0Reply
  • Mark WilliamsPro Member
    Real Estate Broker 路 Huntington Beach, CA 路 Member since 2010 路 63 posts 路 35 votes
    2y

    Hi Jason, 
    Congratulations on your impressive achievements in real estate investing! Your story is truly inspiring and demonstrates the potential for success through determination and learning. Your diversified approach, combining flips and multi-family rentals, is a testament to your strategic thinking. It's fantastic to hear that Bigger Pockets played a pivotal role in changing your life for the better. Your willingness to share your story and encourage others is truly awesome!   

    [email protected]714-745-6164
    0Reply
  • Kyle BanksPro Member
    New to Real Estate 路 IL 路 Member since 2023 路 12 posts 路 11 votes
    2y

    Jason,

    This is awesome to read!  Working hard to do the same in the next few years!  Very impressive!

    1Reply
  • Erin Elam
    Little Elm, TX 路 Member since 2014 路 356 posts 路 47 votes
    2y
    Quote from @Jason Velie:

    I started real estate investing 3.5 years ago with no money, after listening to Bigger Pockets and learning about Hard Money Lenders, Private Lenders, etc. I had a career in Finance that covered our living expenses, so we didn't have to use any real estate income to live off of. For my first flip, I used a HML that funded 100% of the purchase and rehab, and leveraged a credit card for closing costs, etc.

    My model from day 1 has been to flip single-family houses (including a lot of singlewides and doublewides on land) and buy-and-hold multi-family. I use property managers for my apartments, and contractors for my flips. My pure passive cash flow from my apartment rentals has recently surpassed our living expenses, so I quit my 6-figure Finance career to do REI full-time. I am currently flipping 9 houses (no partners or employees), and my rental portfolio is made up of:

    8-Unit - 100% Ownership

    16-Unit - 50% Ownership

    20-Unit - 65% Ownership

    15-Unit - 100% Ownership (pending to buy this one next week)

    I just want to say thank you to BP for the life-changing content that has changed the trajectory of my family's lives. I wouldn't have known it was possible otherwise. 

    If I can do it, you can too!

    P.S. If you're attending BPCON in Orlando this year, hit me up!


     I literally just listened to your podcast with David and Rob (I say that like we went to TopGolf yesterday LOL)  - very interested in the manufactured housing... on the podcast though, I heard you say you found your first deal on CL and it bombed but where did you find the first manufactured home that made you some money?

    1Reply
  • Noah BaconPro Member
    Property Manager 路 Lansdale, PA 路 Member since 2021 路 826 posts 路 1k+ votes
    2y

    Go check out Jason's recent episode on the BiggerPockets Podcast! Who knew investing in manufactured homes could lead to financial freedom in such a short time? 

    @Jason Velie great job, you crushed it!馃憦

    1Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    2y

    @Noah Bacon

    Thanks!! I had a blast!

    1Reply
  • Jason Velie
    OP
    Rental Property Investor 路 Rocky Point, NC 路 Member since 2017 路 70 posts 路 84 votes
    2y

    @Erin Elam

    I found that first doublewide flip by making a post in my neighborhood Facebook group. I shared a picture of a vacant doublewide and asked if anyone knew who the owner was (I wasn鈥檛 having any luck skiptracing them), and no one gave me the answer, but someone else in the neighborhood saw my post and private messaged me and asked if I wanted to buy their house on the next street over.

    0Reply
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