A quick update about the show, where we've been and what to expect.

Millennial Real Estate Investor

Where Have We Been - Quick Update

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Based out of Kansas City, Missouri, Logan Freeman joins us this week to share his story on how he went from owning less than 40 units after a few years, to in a span of 8 months, owning over 500 units!   Logan focuses on commercial developments and master leasing these buildings (meaning one lease for multiple units/properties between tenant and owner) to non-profit homeless organizations such as reStart. These partnerships help to rehabilitate individuals who have fallen into homelessness and get them back on their feet and a part of society once again.   Up to date, Logan’s goal is to continue to live out his passion in providing affordable housing for people who are in need, as well as continue to work to stay profitable. He wants to educate others about alternative investments within real estate, and show them the different niches available that wealthy people have been utilizing for generations now that these investments are becoming common practice and readily accessible.   Takeaways from our conversation with Logan: 1) Realize what your roadblocks are. One common problem successful investors run into is succeeding too much too soon. By all means, if you have goals to build a scalable business and want to build a large operation, do it. Along the way, just keep your attention open to weak points within the business structure. As Logan explains in his failed deal that cost him $200K, it wasn’t the deal itself that was bad. He knew that deal to be a great one! It was he, himself who was holding that deal back. He got overconfident, wore too many hats, and lacked the experience required to pull off the deal successfully. So as he notes, figure out the different jobs and roles within a deal (or business) and assign the right people to those roles. By doing so, you’ll get more done and get along further. 2) Swallow your pride. Going back to that failed deal that cost Logan $200K, he explains that he didn’t have to pay out that cash. There was nothing legally binding that required him to do that. But for Logan, it was bigger than the law and the cash. It was his reputation and moral conscience at stake. As Logan explains, when you do the wrong thing, your negative reputation spreads like wildfire. So when put in that perspective, that monetary value diminished. He fessed up to his mistake, got out of the way, and in doing so, learned a valuable lesson. Take ownership of your actions, be the buck, and move on. 3) “Doing well by doing good.” This is the mantra that Logan uses for his business. This is what led him to real estate. This is what led him to non-profit work. And this is what led him to teaching others how to succeed in business. Logans explains it well—on one hand, yes, business is business and the objective is to turn a profit. On the other hand, however, that doesn't mean you can’t make money by making the world a better place—by doing something that’s greater than profit alone. So whether you want to be a mom-and-pop landlord or a world-wide real estate corporation, don’t forget (or take for granted) the power and responsibility you hold for communities and individuals with each property.  4) Go out and play the game. The more successful you are, the easier it becomes to achieve success. Common reasons for that is because of experience, network, and opportunities. Just like physical momentum, success builds on another. The hardest part is getting that first push to move. Logan mentions that he’s had the great fortune to be able to work on his life passion and serve people through his business. And while a lot of that is attributed to connections with other people, the results are not achieved by accident. The results stem from methodical and intentional plans and action. You can either sit on the sidelines and wait for the perfect opportunity, or you can create those opportunities yourself. We suggest the latter. And combine that with persistence, magic happens.   If Logan could go back and talk to his 16 year old self, he’d tell him, “Be open to everything and attached to nothing.” An unexpected benefit of real estate investing, Logan said, is the excitement he gets that comes from making a positive impact on the world, as well as being pushed by his business to become a better and better version of himself. A piece of advice Logan would tell his friends looking to get started in real estate would be to first ask them if they want to be an “active” or “passive” investor. From there, it’s a matter of laying out the steps and groundwork to get to your goals. Logan recommends using gTasks and Monday to help you stay productive, organized, and on track. Logan recommends reading The ONE Thing by Gary Keller and Jay Papasan as it helped give him clarity in his life, and he believes it can do the same for you. Honorable mentions: The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink and Leif Babi Influencer: The Power to Change Anything by Joseph Grenny   If you’d like to get in touch with Logan, find him on LinkedIn, or visit: www.livefreeinvestments.com

113: Combating Homelessness Through Commercial Developments with Logan Freeman

It all started when Ben Mizes took on a sales job with a startup selling a platform for real estate investors in the single family business. And because he had to know at least some things about real estate, he was told to learn about investing. So being the obsessive guy that he is, he consumed all things real estate for a few weeks and hasn’t looked back since. At the time, Ben was in the market for a new place to live in anyway, and he had just heard about this great idea called House Hacking, so he figured if he needs a place to live, that he might as well live for free. Shortly thereafter, he went from owning zero assets to being a landlord of a four unit property. Within a couple of years, Ben had built up a portfolio of 22 units. Up to date, Ben is the CEO of Clever, a real estate tech company and on his way to financial freedom. Along with growing his own portfolio of units, he has the goal of being the largest integrated real estate company in St. Louis in his mission to transform his community. Takeaways from our conversation with Ben: 1) Understand the agreement, use your own contract, abide by the terms. Ben studied at the school of hard knocks during his first experience working with a contractor. He hired the only guy within his budget willing to do a major HVAC job and upon discovery of unsafe working conditions, did the right thing and fired that contractor immediately. However, the drama would continue as the contractor would then file a lien on the property, falsely advertise the property for sale (might we add multiple times), and (suspectedly) even rob the HVAC unit he was hired to install! Had Ben used his own contract and had someone tell him how to better protect himself legally, he could’ve saved thousands of dollars. But with all things, it was a great lesson learned, and an equally great story at that. 2) Homebuyers are buying a product, investors are buying a problem (and this is where the opportunities are). Such problems can be physically the property itself, the tenants living at the property, and sometimes, even the owner and managers of that property. When in the business of purchasing value-add real estate, you’re adding value where others feel it is not worth to them. If you can get creative enough to find solutions to these folks, you’ll never be short of great deals. 3) Build trust. Reality check: Not all homeowners are the most knowledgeable about real estate. In a similar token, not all real estate businesspeople are the easiest to trust in the business! Seek to understand who and what kind of person you’re working with and use that so you both can mutually benefit from that relationship. When seeking his second deal, Ben found the largest fourplex in the area, but the seller would not budge due to her mistrust of Realtors and other investors looking to prey off of her ncompetence. So instead of shoving profits down her throat, they took the time to educate her on their plans and were fully transparent throughout the entire buying/selling process. In doing so, they were able to build enough trust with one another and secure a great deal! 4) “The goal [for your first deal] is to not lose money and learn.” Just jump in. You don’t have to be ultra risk-averse or some adrenaline junky to get started quickly. If you happen to have a low tolerance to risk, that’s okay! What you can do is find a way to insulate yourself financially, learn the basics, and just roll with the punches. In doing so, you’ll actually learn faster and more than you would not doing anything at all. Take Ben, for example. Even with just a month of consuming real estate knowledge, he was able to get his first property under contract because he knew that even if the deal fell apart completely, the worst that could happen was that he’d have to cover the mortgage out of pocket (which he could) or sell. And while he made mistakes, there was none that he couldn’t handle and correct along the way. If Ben could go back and talk to his 16 year old self, he’d tell him, “Smoke less weed, and focus more on reading.” An unexpected benefit of real estate investing, Ben said, is the control he has over his asset. While he hasn’t yet met his ultimate goal of financial freedom at the time of our conversation, he dividends knowing that his investments will get him rich slowly as opposed to other more insecure alleys. A piece of advice Ben would tell his friends looking to get started in real estate would be to “Start modeling properties.” Get good at looking at properties, running numbers, and calculating what the potential net could look like in the end. Oh, and ”Expect to get your teeth kicked in a bit.” Ben recommends using Google Sheets as a simple method to learning how to run numbers on deals. Honorable mentions: Asana to help you manage your team. Clever to help you get connected with top agents in your market at a fraction of the cost. Ben recommends reading The Book on Rental Property Investing by Brandon Turner to help you learn the overall basics of real estate investing and fastrack you to your first property. If you’d like to get in touch with Ben, visit: benmizes.com or email him at: ben@movewithclever.com

112: Owning a Fourplex After One Month of Education with Ben Mizes

111: Utilizing Neighborhood Knowledge For Investing Efficiency with Kimberly Marie

110: Syndication From A Young Age with David Toupin

Meet Jim Murray, a twisted individual crazy enough to actually enjoy property management. No, it’s true. His journey starts back in 2012 when he purchased his first House Hack, a four-unit property in Rhode Island. At the time, he was working full time for Fidelity Investments and was self-managing his property. Since then, he has jumped around to do some wholesaling, some flipping, to where he is today—a full time property manager and real estate investor. The unfulfilment with Corporate America had been building for some time since Jim made his first investment and one bad review too many, he did what most folks could only dream of and started his own company. So what makes Jim crazy enough to do the one thing most investors dread as it pertains to real estate? Simple, he says. He’s a systems-oriented guy who enjoys helping people succeed. Up to date, Jim manages over 600 rental units, owns and operates Lyon Property Management, and hosts The Cash Flow Kings Podcast. Going forward, he plans to continue to scale up his personal portfolio, transition more into the multi-family realm, and help more people grow their wealth. Our takeaways from our conversation with Jim:   1) Systems is the name of the game. Invest in technology that increases profitability. By having the right systems & processes in place, you attract and get to serve the right clients. And fortunately for us, business technology has never been easier to acquire and implement. So whether you self-manage or manage other people’s units, there’s technology out there that exists to help you out. (Find suggestion list down below.) However, understand this: Technology is meant to enhance, not replace. If you fail to develop & implement the proper processes first, investing in technology will do you or your business no good, and will probably only run you and your business dry of cash flow. 2) Fire bad clients. When starting out, you’ll be tempted to accept any and all business that comes your way. And that’s not really your fault. You won’t know what separates a good client from a bad one. But once you build your business to a respectable size, that’s when it’s time to visit our good friend, Pareto (80/20 Rule). Scale your respectable business into a sustainable one. Get rid of problem clients and double down your efforts on the good ones. Good clients (tenants, customers, etc.) are worth keeping around if you want to operate a sustainable business. But more importantly, bad clients are worth getting rid of in order to keep the good ones around. 3) Set expectations and practice accountability. This is the culture that Jim cultivates within his own company that has allowed him to make a business and career in taking over distressed properties. From the very beginning, let tenants (or clients) know what you are all about and what you will do for them. You must make your tenants know it is a privilege to rent from you, and at the same time, you must treat it as such—a privilege. That means holding yourself, your tenants, and all other parties up to the standard that you set. And when the bar is not met, someone needs to be held accountable for their actions. In doing this, you will weed out bad tenants and keep the good ones happy. 4) Image influences perception. As Jim explains in his story, when talking to contractors while wearing scrappy jeans and work boots as opposed to a suit and tie, he was quoted for a lower price for the same work being done. And it’s understandable as this is a natural human bias. So why not use this bias to your advantage? Here’s the point: It’s not always best to look like you’re made of money. While this goes without saying to look appropriate, hygienic, and professional, you don’t always need to look super polished. Rather, fit the profession you’re playing. While there are times that call for formal attire, wearing so in casual settings tends to make others perceive you as willing to pay more for something or are just flat out bougie. If Jim could go back and talk to his 16 year old self, he’d tell him, “Buy more real estate in 2009.” In other words, take advantage of the real estate cycles and buy real estate sooner! An unexpected benefit of real estate investing, Jim said, was the opportunity to live with time, location, and financial freedom. A piece of advice Jim would tell his friends looking to get started in real estate would be to “Listen to other people.” Use the free content and information available to you online, whether it be other real estate & business podcasts, websites like BiggerPockets, or the thousands of educational real estate videos on YouTube. Jim recommends using zInspector to help you create and store tenant condition statements. This comes in handy during any tenant-related litigation, as well as have as an additional layer of legal protection for your business. Honorable mentions: For high-end scaled operations: AppFolio; Buildium; Rent Manager. For low-end (DIY-level) scaled operations: Cozy; Avail; Zillow Rental Manager. For rental unit showings: Tenant Turner; Show Mojo; Rently. Jim recommends reading The Wealthy Gardener: Lessons on Prosperity Between Father and Son by John Soforic to help you grasp important financial concepts found in many of the popular financial/business books around. Honorable mentions: The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz. The Richest Man in Babylon by George Samuel Clason. If you’d like to get in touch with Jim, follow him on Instagram @thecashflowkings

109: Profitable Property Management with Jim Murray

We welcome back the lovely Diya Liu in this episode. When we first spoke to her back in Episode #78, we had gone over her real estate journey up to that point and how she built her vacation rental portfolio in such a short amount of time. Then, a few short weeks thereafter, our collective world was rocked when the country went into lockdown amidst the COVID-19 outbreak.   At first, like everyone else, Diya approached the situation with cautious hesitation for the simple reason that she (like most other investors) had not experienced such a thing before. How can I sustain my vacation rentals when people aren’t even allowed to travel? thought Diya. Then she realized that a pandemic induced national lockdown can actually be beneficial to her and this can be an investment-altering opportunity. So exactly how did Diya take advantage of COVID-19 and break the myths it has created for aspiring short-term rental investors?   Takeaways from our conversation with Diya: 1) Adjust accordingly. When COVID-19 first broke ground, Diya wasn’t too worried. However, shortly thereafter, guests' reservations began getting cancelled all across the board. Approaching that following month, Diya’s net revenue took a hit and things weren’t looking good. Fortunately, around this same time, as Diya explains, most folks realized that “work from home” really means “work from anywhere.” So that combined with people’s cabin fever from being cooped up at home for weeks, this created a strong demand for people to want to escape big cities such as Los Angeles or New York and social distance in a nice, cozy getaway home. Diya turned her short-term rentals into “mid-term” rentals which are leased out in about 30 days cycles. And in doing this, she also fulfills the regulations placed on short-term rentals. 2) Communicate. So with this new investment strategy in place, Diya had to quickly get her team of property managers all on the same page. She had to create guidelines and best practices that all suited the needs of the guests, the rules of the government, and the capabilities of the property managers themselves. So she spoke to each and every single one of her partners and started executing on the new and improved business model.  3) Cut your losses. However, this goes without saying that not all Diya’s units made the transition smoothly. Many flourished and some not so much. So instead of trying to walk on egg shells with problem properties that would take her energy away from the successful units, she decided to unload those problem units and double down on what was working well. Which takes us to our last point…  4) Diversify and plan. As Diya mentions, her overall philosophy as it pertains to her real estate acquisitions is all about her personal preference to the nomadic lifestyle. This means that she is not tied down to one specific niche or market. She goes where the numbers make sense and where there is business to be had. And part of that means being prepared for trends and shifts that will come along the way. Instead of solely focusing on what this current pandemic has done, she’s already shifting her sights to what’s to come after this pandemic concludes and what investment strategy and niche will work then.   A lot has happened since we last had Diya on the show. She has left her W-2 job and has transitioned full time into real estate investing. Going forward, she plans on continuing to grow her vacation rental portfolio, and help other aspiring investors start theirs.    A recent book Diya recommends reading is Never Split the Difference: Negotiating As If Your Life Depended On It by Christopher Voss and Tahl Raz as it has helped her negotiate agreements with her neighbors, as well as find off market deals. One lesson Diya has learned since our last conversation is that short-term/vacation rentals have a lot tied to search engine optimization (SEO) and digital marketing. As far as these investments are concerned, you have to understand the guests you are hosting, as well as the platform in which you are using to list your units. You fall less on the traditional landlording side and more on the hospitality/hotel services side.   If you’d like to get in touch with Diya, visit: www.diyaliu.com or follow her on Instagram @diyaesq

108: Myth Busted: Vacation Rentals During COVD-19 with Diya Liu

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106: Wholesaling and Househacking with Brad Clark

Circa the beginning of 2019, Tom & Michelle Gendron had just gotten out of debt and were ready to begin investing seriously for their future, both as husband and wife, and as mother and father. They dabbled with the idea of strategically purchasing stocks and holding off on buying rental properties until they had more capital available. Afterall, they were already living in their “forever home,” and were in no rush to become property managers.   Nonetheless, after some intense research and education about the industry, not only did Michelle learn that buying real estate with low capital was a possibility, but that they can do it much sooner than “later down the road.”   Circa the end of 2019, Tom & Michelle had purchased their first out-of-state rental property and were cash flow positive.   Up to date, Tom, Michelle, and their four children are House Hacking in a cozy 900sqft home filled with love and excitement for the financial opportunities ahead. The goal for the next five years is to surpass $10K in passive income to be able to travel the world with their children and grow together as a family.   Takeaways from our conversation with Michelle and Tom: 1) Delay gratification. This is the theme of Tom and Michelle’s entire investing journey. This is how they were able to uproot their life and have the guts to downsize. This is how they embrace the sacrifice it takes and do it as a family. And this is how they will ultimately achieve generational wealth that will enable them to have enough passive income to live the life they so choose. Stop and think about your future self the next time you feel yourself caving into instant gratification.  2) Investing out-of-state in the eyes of a “hands-on” type of person. This was a blessing in disguise particularly for Tom because he considers himself to be a very hands-on person. With their first BRRRR (Buy, rehab, rent, refinance, repeat) property being out of state, Tom was forced to learn how to trust others in taking care of their investment (such as managing the property and completing the rehab work). Furthermore, if you are a hands-on person who wants to have a hands-off business, you’ll be forced to learn to leverage systems to make your investments successful. Don’t shy away from uncomfortable situations, use it as an opportunity to grow. 3) When reading a real estate book (or other books in general), follow along with the action steps contained in the book. It does you no good to read all the how-to books in one sitting and then only remember the last thing you read. And it certainly does you no good, either, not taking action after reading a book as well. So when there are action steps included in a book, follow along and practice the action steps. So when it comes time to take action that counts, you have already gone through the motions and will be less of a novice going in. Take it from Michelle, they found their first property on a classified ad on an online newspaper because the book she was reading mentioned it. She called the number on the ad and instantly got a $5,000 discount on the purchase price no questions asked. 4) Talk to the people outside of a property showing. Whether it be a neighbor or the homeowner themself, it doesn’t hurt to strike up a conversation with anyone who is even remotely associated with the property you are thinking of purchasing. At the very least, you’ll know someone that lives in the neighborhood and have extra “behind the curtain” knowledge about the property. As for Michelle and Tom, on their second property purchase (the triplex they are currently House Hacking), while Michelle was touring the inside of the property, Tom struck up a conversation with the homeowner who was sitting in her car outside in the driveway. In the end, they beat a cash buyer in getting an offer accepted to purchase the property because they had an edge in the relationship with the seller.   If Michelle could go back and talk to her 16 year old self, she’d tell her, “Get outside of your comfort zone. Try all sorts of new things. See what’s out there.” An unexpected benefit of real estate investing, Michelle said, was getting to a financial freedom number. A piece of advice Michelle would tell her friends looking to get started in real estate would be to “Go out and meet people who are doing what you are thinking you want to do.” Michelle recommends using The Facebook Marketplace to help you sell things you don’t need anymore (so you can have more money to invest in real estate!).  Michelle recommends reading The ONE Thing by Gary Keller and Jay Papasan to help you focus on your priorities and accomplish your goals in the best way possible.   If Tom could go back and talk to his 16 year old self, he’d tell him, “Educate yourself on finances. Start early.” An unexpected benefit of real estate investing, Tom said, was the ability to not only imagine, but also achieve early retirement. A piece of advice Tom would tell his friends looking to get started in real estate would be to take initiative. “This is hard to do. But with hard work, it’ll pay off. So if you’re willing to put in the work… there’s a lot of free content out there to learn,” Tom says. Tom recommends using Things app to help you stay productive and accountable with your tasks. Tom recommends reading Extreme Ownership by Jocko Willink and Leif Babin to help you develop your leadership skills for business and life.   If you’d like to get in touch with Tom and Michelle, follow them on Instagram @lifebydesignfamily   Thank you to everyone that has reached out to us to connect them with our trusted real estate agents in their area! And congratulations to those who have even closed deals using our referrals! For those that didn’t know, we can help connect you with real estate investor friendly agents in your area to help you get started investing in real estate. We recently made some changes to our website that we believe will better suit you in your real estate investing needs. For more information, visit www.millennial-realestate.com and head over to the “Start Investing” Tab. Best wishes and see you in the next one!

105: Full-House House-Hacking with Tom & Michelle Gendron

Nearing the end of his tenure with the military, Ashton Levarek wasn’t too sure where he was headed next. Out of the blue, his brother mentioned to him the opportunity he saw in real estate. After running some numbers, they quickly learned about the industry, and started making offers. This was the genesis of their family-run and -operated business Valkere Investment Group. They started small with two duplexes (four units totals). These were not without their issues, but like all great success stories, they only really remember the lessons. And upon the search for their next project, it was at that point, Ashton’s brother’s wife asked the team, “Why are we only working small deals?” Think about it, it was the same amount of work to acquire and manage the property, why bother working on only a few units at a time when they can simply create the systems and scale endlessly? If Ashton could go back and talk to his 16 year old self, he’d tell him, “Get into it sooner!” An unexpected benefit of real estate investing, Ashton said, was learning how to run a business that has opened a whole new way of life for him and his family. (Personal growth and closer relationships are a plus as well.) A piece of advice Ashton would tell his friends looking to get started in real estate would be to have “Clarity, commitment, and take action.” Be clear about your goals. Commit to your goals daily. With daily commitment, you will never fail with the action you take—you will either succeed or you will learn. Aston recommends using monday.com to track projects within your business, as well as assign different tasks to different people. Ashton recommends reading The Vision Driven Leader: 10 Questions to Focus Your Efforts, Energize Your Team, and Scale Your Business by Michael S. Hyatt to help you develop your vision. Honorable mentions: Never Split the Difference by Christopher Voss and Tahl Raz, Pitch Anything by Oren Klaff, Traction by Gino Wickman, Raising Private Capital by Matt Faircloth, and Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks If you’d like to get in touch with Ashton, visit:www.valkeregroup.com or follow him on Instagram @valkereinvestmentgroup

104: Turning Family Partnerships into a Scalable Business with Ashton Levarek

Devin Moreno started with nothing but a stable job living paycheck-to-paycheck and $500 to his name. Despite coming from a family of investors (stocks and other businesses), it’s a surprise Devin didn’t actually make the jump to real estate sooner than he did. (And this was one of Devin’s motivations to succeed as much as he has so quickly.) So, coming onto the scene a little later than many Millennials investors, Devin buckled down and learned as much as he could about the real estate industry in six months. He knew he struggled with analysis paralysis so the six month deadline was crucial for him to get started. And just like that, Devin had purchased his very first House Hack using a VA Loan, meaning he was able to purchase the property for 0% down. Since then, he has used this first property as a launching point into the small multi-family space using a combination of conventional and private financing to continue leveraging his investments. Up to date, Devin is closing on his first triplex which will be a BRRRR investment purchase. Devin knows his goals have definitely evolved since he began, and thinks they will continue to change going forward. Right now, the important thing for him is to ensure he continues to invest in properties that excite him and challenge his comfort levels. Our takeaways with our conversation with Devin: 1) Run your business like a business. When Devin purchased his first privately funded deal, he confessed to us that asking people for money was not something he was accustomed to (as we’re sure with many investors starting out). That’s okay. As per Devin’s case, the people he was looking to get funding from were people who also didn’t know much about private financing. So as he learned more and more about deal structure, Devin kept an open line of communication with them and explained to his lenders exactly how the deal was going to work. Along with explanations and his competence, Devin proved he was trustworthy by displaying the business systems he had in place. Lastly, he didn’t take too much money for anyone to handle. Each person who funded his deal lent no more than $10,000. 2) Give yourself deadlines. All too much, we see many eager investors cave into fear and fall prey to analysis paralysis. By giving yourself a deadline (and an honest effort), you will be able to hold yourself accountable and examine your “readiness” from an outside perspective. The goal isn’t to learn and/or analyze everything for your first deal. If that’s the case, you’ll never be ready. The goal is to learn and/or analyze enough to do your first deal. Remember, even if your first deal goes completely wrong, you will still have learned more from those mistakes than you would have had you not taken any action in the first place. 3) Read the fine print. One of the many reasons real estate is such a great investment vehicle are the legal loopholes available to investors’ disposal. However, because many loopholes are popular (and maybe even considered common practice), just one overlook of text or just one uneducated assumption can lead you to a plethora of legal trouble. Have competent advisors and be competent yourself. Make sure your business practices are within the confines of the law and protect yourself and your assets. When it comes to asset protection, “Better safe than sorry” is the motto. 4) Learning your market. You don’t always need to invest where you live (not at all), but the real estate industry and real estate markets are very niche. If you want to be successful, it would suit you well to learn where you are putting your money into. There are many ways to learn a new market. You can assemble a team who knows the area, talk to other investors who invest in the area of interest, or spend time traveling around the area for yourself. For Devin, the third option was the way for him. He invests in Baltimore where the market tends to be “block-for-block,” meaning one street over from another can be a totally different market in and of itself. And that’s okay. Regardless of how you learn your market, with enough due diligence and practice, you will learn your market as well as many others along the way (just don’t fall into analysis paralysis!). Devin knew nothing about Baltimore starting out, but now he can distinguish one “block” from another very easily. If David could go back and talk to his 16 year old self, he’d tell him, “The biggest disappointment is starting this so late. At minimum, paycheck-to-paycheck will not do you any favors.” An unexpected benefit of real estate investing, Devin said, was the confidence boost it gives you knowing you are a homeowner, as well as a business owner. A piece of advice Devin would tell his friends looking to get started in real estate would be to “House Hack—even if that is [your] only purchase ever.” Devin recommends using YouTube to learn and consume all things real estate. Subscribe to Devin’s channel at Devin Moreno Investing! Devin recommends reading Landlording on Autopilot by Mike Butler & Real Estate Investing Gone Bad by Phil Pustejovsky to help you get started on your real estate education. If you’d like to get in touch with Devin, contact him at: devinmorenoinvesting@gmail.com

103: Residential Multi-Family House Hacking with Devin Moreno

The Millennial Real Estate Investor Podcast was started because we love awesome stories of Millennials taking big action in real estate and taking control of their financial future. We interview guests who have taken the leap into the game of real estate and prove that you can do it at any age. Whether you want to earn a little extra money on the side or make investing your full time career, we bring you guests who will show you the road map to your goals.

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