All Forum Posts by: Kenneth McKeown

@Tyler Hodgson would be your go to. House hacked himself, former CPA, now owns his own mortgage company. No one better in DFW. 

Just about five years ago I was finishing up graduate school at Texas A&M and had just accepted a job to teach high school and wrestling in San Antonio. At this point in time I was in a long term relationship and it was the job that would be better for my relationship over the job I wanted to take in Dallas. However - my life would take a complete 180 degree turn just a few days later. I was someone who didn't like to "half ***" things (including my relationship) so I made my last and final decision "for a girl" by taking the job. Well - the day she was set to fly out... she called me & told me she wasn't. We broke up and I was devastated. My life felt pointless at this point with all the time and effort put into that relationship... I had to find something to fill that void. What was that? It was real estate. 

I actually reached out to a high school friend (who's been on multiple BP podcasts - not sure if at that time, but has since been) and he mentioned this website. He mentioned Rich Dad Poor Dad. That's when my life began to completely change - but I had no idea it would change into what it has become. I became obsessed with BP podcasts, books, networking (met @Tim Macy off here), and learning as much as I could. I thought it would be ideal to get my real estate license to help with the potential purchase of one or two properties in the next 5 to ten years or so (plus maybe some odd ends purchases - I truly had no idea). I would like to think I became an expert in the field of investing in real estate and even tried 4-5x to get a duplex in San Antonio but it wasn't meant to be.

The summer of 2017 I decided to move up to Dallas (where I wanted to be from day 1) with no network, no friends, no family and a new teaching/coaching job. I officially became a real estate agent the first week I moved up and started to network where I met my now best friend @Tyler Hodgson off BP. Within a month I was under contract on a duplex and moving in shortly after using my VA loan. Six months later I had moved to an outdated single family where I rented out the rooms for two years while renovating the entire house. At this point I had began to realize that my rentals could cover my expenses and I could likely leave my teaching job at the years end to pursue real estate as a full time job... so I did just that. February of 2018 I gave my notice that I would only be teaching one year and would not be coming back.

This honestly was where the fun began. I spent $11,000 on an annual coaching membership as a real estate agent (granted, my take home paycheck for teaching was $3,700 so this was a HUGE cost to me at the time). Having been in the Marines and a former teacher now - I had worked two different jobs where I was told to work hard but I was never appreciated or really financially compensated appropriately. Real estate was the first instance where I worked hard and I was finally shown (or compensated) appropriately for the amount of time & effort given. I knew by quitting teaching (W2 job - for those out there... keep them as long as you can!) that I wouldn't be able to purchase another property for awhile but in September of 2019 I had two profitable years of tax returns from real estate and purchased a 4-plex. This was the second time using my VA loan and I was now getting over $8,000 a month in rent.

I spent (and continue to do so on a daily basis) every day from 2019 to 2021 waking up between 4-5am and hitting the gym. I go in a routine and ritual to grow my real estate business as much as I could. Because of the goals I have - unfortunately I've lost a bit of friends... but those are the friends that would have otherwise held me down from what I've been wanting to achieve. But all the time and effort I've put in now has me so proud of how far I've come.  

Well - fast forward to May of 2021 and I've been able to help over 200 people buy, sell or invest in the Dallas & Fort Worth area. I've acquired a duplex, single family, quad and even built my dream home (with a custom AirBnB suite) thanks in part to the rental income I have. I'm also in the midst of another full gut-job remodel SFH rental. Once that's completed I'll be north of $14,000/mo in rental income - when just 4 years ago I was a high school teacher and it took me almost four months to make that... as my FULL TIME JOB. I've created a YouTube channel for those that are looking for more information about real estate investing (as well as just documenting my journey) and have began to really help a ton of Veterans across the country utilize their VA loan successfully to purchase properties and turn them into rentals.

BiggerPockets has been an incredible place that has absolutely changed my life. I was heartbroken and lost and everything honestly fell into place right when it should. I've met so many great people off this website and I'm so thankful for all the information I've been able to gather. If I have any advice for anyone looking to get started - don't be scared. Real estate is truly powerful and it's an incredible and fun journey. Most will want to... very few will. Don't act blindly... but also don't be scared of the journey. The journey is where all the fun is.

Just going to tag some great people I've since met... 

@Denver McClure @Brandon Andreola @Chance Benjamin @Corbin E. @Corin Prendiville @Edwin Borrero @Jason Chen @Paul Burns @Michael Nguyen and many many more. 

@Garrett Gruss you need to take into account far more expenses and time with an AirBnB though.. and potential swings in vacancy over time. Any reason you're opposed to full on roommates? You have an easier time being able to handle vacancy with notices being required for roommates to give you before moving out. 

@Garrett Gruss tough to say haha because there are two very different areas in which you're speaking about. How much are you going to be renting rooms for? $25-45/night?

@Garrett Gruss I've done both - renting to AirBnB guests and renting out to roommates. Biggest thing with AirBnb is you will have better luck if there's a constant flow of single travelers coming to your area. For example... a large house in Aspen or Breckenridge in CO - I know a few who do this, and live in their basements and do really well. I have a full on guest suite that's private in downtown Dallas and I rent it out mostly on weekends. I would run the numbers to see what makes more sense - roommates or AirBnB guests. Just know handling 3 separate rooms on AirBnB will be a handful... and you're not likely to get a ton per night since there's not a huge driving force for demand here in Dallas. 

A majority of my net worth has come from the appreciation in the properties I've bought in our metroplex in the past four years. Who knows how long this will last or continue to rise in prices but it's been highly beneficial to continue to acquire properties (but still not just buying to 'buy'). 

Oh gosh yes.. this is bad. And it’s not all on you - it’s really on the agent. Your agent. Your agent was well aware of what your intentions were and should have had your back covered completely. 

@John Steffen I've done just about everything haha. House hacked a duplex, house hacked a 4-plex, SFH flip while renting out by room, AirBnB, single roommate in primary and BRRRR.

@John Steffen are you looking to occupy a home and rent out the rooms yourself or are you looking to buy a SFH and immediately rent it out by room? It can go both ways - if you can find someone in charge who's willing to take the work off your plate and find roommates it can be highly profitable.

@Jack Pawlowicz you came to the right spot! I fell into RDPD and then found BP about 4 years ago and it's been an incredible journey. Dive in and enjoy - learn as much as you can... and make some great connections!