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466: Buying “Lottery Ticket” Investment Properties with Alan Corey

466: Buying “Lottery Ticket” Investment Properties with Alan Corey

FromBiggerPockets Real Estate Podcast


466: Buying “Lottery Ticket” Investment Properties with Alan Corey

FromBiggerPockets Real Estate Podcast

ratings:
Length:
80 minutes
Released:
May 6, 2021
Format:
Podcast episode

Description

Alan Corey has had an interesting career to say the least. He’s been an IT worker, a comedian, an author, a real estate investor, and even a reality TV star. Alan has always been fascinated with making passive income in a frugal, but very intelligent way. He’s so frugal in fact, that he made up a crazy story to be on the Jerry Springer show, just to get a free trip to Chicago out of it. Talk about being committed!Alan’s real estate story starts off with buying a 1 bedroom apartment in Brooklyn, New York, hanging up a curtain in the living room, and house hacking. He then repeated this strategy over and over again, becoming a millionaire before 30 years old, with a lot of property and “good debt”. Alan is part of the FIRE (financial independence retire early) community, but instead of investing mainly in stocks, he does so in real estate.His strategy is simple: buy a rental property for every bill you have, then start inventing “fun bills” as excuses to buy more rental property. Whether you’re looking to pay off your phone bill every month, or finance your brand new Tesla, this strategy will work for you. Alan also “hides money from himself” so he can be better off in the future. Right now he’s sitting on around $8,000,000 of real estate solely from his own investments.His new book House FIRE teaches you everything you need to know about retiring early with real estate!In This Episode We Cover:Chasing financial independence and early retirement with real estateTaking on “good debt” so you can grow you real estate portfolio fasterThinking of each property you buy as a “lottery ticket”Alan’s books: A Million Bucks By 30 and House FIREThe danger of high-interest consumer debt (like credit card debt)Seller financing and zero cash-flow triple net leasesAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets Youtube ChannelAlan Corey's Video SamplerDave RamseyBiggerPockets Podcast 344: “No Money” Real Estate Investing with Gabriel HamelBiggerPockets Business Podcast 13: 3 Rules for Crushing It in Business with ‘Shark Tank’ Star Barbara CorcoranShark TankCheck the full show notes here: https://www.biggerpockets.com/show466See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
May 6, 2021
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.