91 min listen
117: From 0 to 12 Units Overnight and House Hacking a...Farm?
117: From 0 to 12 Units Overnight and House Hacking a...Farm?
ratings:
Length:
55 minutes
Released:
Sep 29, 2021
Format:
Podcast episode
Description
Amanda Bolan, like many of us, had a “pressure cooker” moment where she realized that becoming a real estate tycoon was part of her future. At the time, she was working in the oil and gas industry without real estate investing experience. She took a leap of faith and decided to flip her first house in 2018, then flip another in 2019, then buy a 12-unit apartment in 2020, and another in 2021. Did we mention she was buying a 61-acre land development deal in between these time periods?While Amanda was searching for rentals she saw more and more expensive multifamily deals come up. At first, she had “sticker shock”, but ran the numbers and realized that a good deal in real estate is a good deal for her, no matter the price. She got to work underwriting, financing, and partnering to close on this seven-figure property. Even with some hiccups along the way (financing falling through, environmental flags going off), she was able to close on the deal and became a commercial real estate owner.Part of her fearlessness in taking on these big, and often unconventional deals is looking at what could go right, not just what could go wrong. Instead of being stuck in analysis paralysis, Amanda made moves to secure properties that would scare rookie investors and made them her own.In This Episode We CoverBuying a large multifamily property as your first rentalWhat to do when financing falls through at the last momentRunning the numbers before you run away from a potential dealLearning to self-manage at scale without any experienceBuying farmland and holding land for future developmentPushing past fear and making large deals work in your favorAnd So Much More!Links from the showReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie Rookie Facebook GroupBuildiumCheck the full show notes here: https://www.biggerpockets.com/rookie117See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Sep 29, 2021
Format:
Podcast episode
Titles in the series (100)
What Works (and Doesn't) in a Recession & the Untold Story of J Scott's Messy First Flip by Real Estate Rookie