Thank you So much for having me on the Podcast! It was an honor to meet you all and a pleasure to talk to you. BiggerPockets is the one stop shop to learn all things real estate. I feel so blessed that I could share my story on your platform!
Bonus of having a trusted maid cleaning weekly on a property setup like this is they can keep an eye out for things that could be amiss as far as undetected maintenance needs or potentially criminal activity. Both of which are probably not so likely however given his approach of “preventing problems before they exist” with new construction and creative tenant screening. Money can also be saved from PM because many of the headaches are avoided and self management is much more doable. Nicely done presentation and I wish you guys continued success.
I invest in real estate in Los Angeles. We are building a three bedroom guest house in our backyard. In our current house we live for free renting three rooms and living on the enclosed patio. Love your story! Got some good tips. Our cleaning lady is the best investment ever. You're the first person I've heard with the same strategy as me! We are following your steps!
I think it crazy how people so much and how rent is in LA, NY,Seattle. I live in Dallas and can buy a 2000+ sq ft house for a 1 bedroom there lol. I would never want to have roommates with strangers
Thanks for sharing your story it really encouraged me to take the next step in buying a house in renting out the basement I was a little nervous but I think I’m ready now
Brendan and David’s podcast is hands down the best podcast BiggerPockets has. Love you guys you’ve helped me learn so much in the least amount of time.
”This Podcast is the best in the world and it’s so ironic because I’m just getting ready to purchase my first four-plex (using house hacking) - VA Loan which might possibly be a new build / construction - the four rules to real estate were all touched upon : 1.) Cash Flow 2.) Appreciation 3.) Loan Amortization 4.) Tax Shelter (Depreciation) “”is a big one that is missed” - lowering your tax income Only thing he missed : is asset protection and legal structuring (assuring protection - in/outside) with correct LLC & Land Trust He also touches on - having a partner although she doesn’t have to be on the same wave length ... but the importance of balancing each other out on a set goal. The Kite and the string
Love your podcast! Quick question, how do you guys out this all together? Do you record the the audio, zoom call, and your personal camera in your studio separate then put it all together?
I love the kite analogy. Awesome podcast, this is my 3rd time listening to it. I just sold my SFH and I'm heading towards my first multifamily investment thanks to podcasts like these....thanks Bigger Pockets!
Due to the pandemic all over the world, many are in financial crisis now. So if you want to learn how to earn money from home, you should check out Mr Roberts @robertslarrison on Instagram.. I earned $12,000 within 4 days with an investment capital of $1000. All gratitude to mr Robert @robertslarrison for helping me out of stress of money may God Almighty richly bless you @robertslarrison
Fantastic episode! gave me great ideas for Dallas! Thanks guys! I love the way he and the wife thought outside the box in a tough area! We are not quite there yet in our market, but good to know that there is a way!
My wife and I have had discussions of house hacking for a couple years to jump start our real estate investment endeavors. The only problem is we have 3 kids. Makes it a little harder.
Did he say if these rooms are furnished with a bed? Or do tenants have to bring their own furniture? House hacker here under contract on my 3rd property!
this is called co-living apartments, its prominent in urban parts of major cities like New York, San Francisco and LA. A lot more operators are going towards these style of properties because you can charge 1-1.2K per room for a 5-6 bedroom unit which is more than you would rent the whole house for a 5-6 bedroom that usually comes out less than if you were by the bedroom.
Thank you BP, you've inspired me to refinance my existing home loan. It's loan refinance process is painful, but when you do the numbers you will save a lot of money in refinancing loans. - From a fan from the Philippines.
I feel like a lot of what this guy is saying could potentially lead to Fair Housing Act. Currently reading Brandon Turners property management book and some of this seems iffy with the boys in this house and girls in that house.
@32:02 Yes! If you have time for the next book read look into "Millionaire Next Door" some call that type who like to spend money and look rich "Big hat...No cattle".
bR z I will be making a video today, a guide to choosing your first income property. Please check my channel this evening or tomorrow for the new video, and then please let me know if you have any additional questions. Thank you!
Metta HD it’s not what YOU care about but what can have you in court and you’re being sued for everything you own. Knowing the law especially with these new changes upfront will save your business in the end. An ounce of prevention is worth a pound of cure.
@@worldwideachievers1234 you can't sued from getting covid. Quit watching CNN. People have literally millions of bacteria on them. Could never trace it accurately nor prove it. Plus time get on living considering survival rate is now near 99 pct
"I don't judge people by the way they dress" next sentence "I have found out that it is easier to trust people based on the way they dress", lol that is textbook definition of judging people by the way they dress
This is the guy I wanna hear from not the one who owns a bunch of property and makes $50-150 off each or breaks even 🤮a grown person needs atleast $3000-$5000 a month to live especially with kids
Evolv23 but still, just $150 a month? maybe the deal could be more a net worth increase by buying undervalued but the single families todd’s buying there is less competition compared to apartment communities and you could buy those undervalued easy too and get cash flow and house hack too
“CNBC really vets you” And then they had dan billzarian on (with Kevin O’Leary) at his house he rented so they changed the title Great job vetting, CNBC
This is great idea when venturing into real estate for the first time but scalability is a huge problem and you'll eventually need to get into traditional multi-families to achieve growth
I don’t agree with the dress thing I mean if a guy meets you in a Lambo with paint stained jeans or a Corsica in a suit his/her business plans should be all that matters
I would really like the useful information that im sure is in here somewhere but i just cant sit thru all the useless chit chat to get the info i want. Bye.
If y'all haven't seen a documentary called... It's worse then you think... By revelations of Jesus Christ ministry... I suggest you do... All praise and glory to the most high Jesus Christ
For some with such a disgustingly haggard looking beard you are really one to talk about appearance lol. I honestly wouldn’t be able to take anyone serious who grew a beard out like that.
Thank you So much for having me on the Podcast! It was an honor to meet you all and a pleasure to talk to you. BiggerPockets is the one stop shop to learn all things real estate. I feel so blessed that I could share my story on your platform!
Appreciate what you shared! Continued blessings!!!
I knew something was up. I thought man he’s good in front of a camera and boom 💥 you have your own UA-cam channel. Nice 👍
Awesome stuff! Thanks for sharing.
Dude! You got on the BiggerPockets. That's awesome.
Thanks Todd. It really motivates me to get in the realestate.
I have one question - how do you take care of the shared kitchen?
Honored to consider this dude a friend now. Most humble guy I know, great episode Todd and Brandon!
Bonus of having a trusted maid cleaning weekly on a property setup like this is they can keep an eye out for things that could be amiss as far as undetected maintenance needs or potentially criminal activity. Both of which are probably not so likely however given his approach of “preventing problems before they exist” with new construction and creative tenant screening. Money can also be saved from PM because many of the headaches are avoided and self management is much more doable. Nicely done presentation and I wish you guys continued success.
That's a good point!
I was thinking the same thing.
I invest in real estate in Los Angeles. We are building a three bedroom guest house in our backyard. In our current house we live for free renting three rooms and living on the enclosed patio. Love your story! Got some good tips. Our cleaning lady is the best investment ever. You're the first person I've heard with the same strategy as me! We are following your steps!
I think it crazy how people so much and how rent is in LA, NY,Seattle. I live in Dallas and can buy a 2000+ sq ft house for a 1 bedroom there lol. I would never want to have roommates with strangers
This is my exact strategy, thats how I scale from one unit to 4 rental properties. Love it!
Thanks for sharing your story it really encouraged me to take the next step in buying a house in renting out the basement I was a little nervous but I think I’m ready now
Brendan and David’s podcast is hands down the best podcast BiggerPockets has. Love you guys you’ve helped me learn so much in the least amount of time.
How would insurance work out for this model? Landlord policy and each tenant has renters?
This was an amazing episode. Loved how he was able to house hack and scale his rental portfolio
I truly love this podcast. Thank you soooo much.
Curious, and if I missed it let me know...are these tenants month to month leases or year long?
this is the most underrated episode. Bring back Todd for an update. thanks!
This is the couple from Millennial money. Watched the Graham Stephan one tho.
That’s exactly what I was searching up
Awesome how dedicated you are to the money gang. Laken Banks has some awesome stuff too :)
I thought he looked familiar!
”This Podcast is the best in the world and it’s so ironic because I’m just getting ready to purchase my first four-plex (using house hacking) - VA Loan which might possibly be a new build / construction - the four rules to real estate were all touched upon : 1.) Cash Flow 2.) Appreciation 3.) Loan Amortization 4.) Tax Shelter (Depreciation) “”is a big one that is missed” - lowering your tax income
Only thing he missed : is asset protection and legal structuring (assuring protection - in/outside) with correct LLC & Land Trust
He also touches on - having a partner although she doesn’t have to be on the same wave length ... but the importance of balancing each other out on a set goal.
The Kite and the string
I would love to connect and get your input guidance on investing and the number three and four you mentioned..
I too plan on using my VA as for a multi family home for my first rental property. I would like to connect with you as well.
Love your podcast!
Quick question, how do you guys out this all together? Do you record the the audio, zoom call, and your personal camera in your studio separate then put it all together?
An amazing podcast as always! I know my day is coming for my first rental property. * speaking into the future *
That's right!
You got this
You will make it happen!!
This is an awesome video. Thanks for becoming my one more inspiration.
I have one question- How do you handle the kitchen shared usage?
I love the kite analogy. Awesome podcast, this is my 3rd time listening to it. I just sold my SFH and I'm heading towards my first multifamily investment thanks to podcasts like these....thanks Bigger Pockets!
Love this episode too, so many information to learn. What's your builder company?
Due to the pandemic all over the world, many are in financial crisis now. So if you want to learn how to earn money from home, you should check out Mr Roberts @robertslarrison on Instagram.. I earned $12,000 within 4 days with an investment capital of $1000. All gratitude to mr Robert @robertslarrison for helping me out of stress of money may God Almighty richly bless you @robertslarrison
This is exactly what I do in California with my two rentals. I would love to get to where this guy is someday soon!
How do you limit turnover?
I love the vibe between Brandon and David, it made me laugh out loud several times...:)
Fantastic episode! gave me great ideas for Dallas! Thanks guys! I love the way he and the wife thought outside the box in a tough area! We are not quite there yet in our market, but good to know that there is a way!
Currently refinancing my house for the 2nd time this year! 2.875%, 30 year fixed, no closing costs!
Do you mind if I ask what lender you used? Thanks
@@bipi4363 I use a local mortgage broker. His company is called AnnieMac Home Mortgage
@@Real.Estate.Report Thank you.
never even considered this.
brilliant stuff. TODD IS IMPRESSIVE!
"I'm just a dreamer that never gave up on the dream"
Awesome!
One of the best episodes I've ever watched. Todd is a genius.
What’s the best way to find out what cities allow this strategy? Thanks!
Curious- what percentage of renters would you say are evicted in everyone’s experience?
My wife and I have had discussions of house hacking for a couple years to jump start our real estate investment endeavors. The only problem is we have 3 kids. Makes it a little harder.
This guy is a genius - damn "Why didn't I think of this!??" @15:30
It's not too late
Now you know!
I've been doing this for 3 years in NJ. This is my favorite nice to do in my personal opinion. You can make so much money renting rooms!
What city in Nj? Ive been looking there too
@@stevend481 Essex County NJ
Best podcast I have seen so far guys! Thank you!!
I hope there will be a BOOK from biggerpockets on this kind of niche! PLS PLS!!
Did he say if these rooms are furnished with a bed? Or do tenants have to bring their own furniture?
House hacker here under contract on my 3rd property!
Would like to see more on Todd's properties and how they are laid out.
This was a great show.
Does Todd furnish the houses in the living areas with dining table, sofa and T.V?
I want to know that too.
14:58 - I couldn't take notes fast enough. that was gold.
Great interview on this show. This tells you again that you can make it in real estate.
My big question is how do you scale buying new construction?
this is called co-living apartments, its prominent in urban parts of major cities like New York, San Francisco and LA. A lot more operators are going towards these style of properties because you can charge 1-1.2K per room for a 5-6 bedroom unit which is more than you would rent the whole house for a 5-6 bedroom that usually comes out less than if you were by the bedroom.
link to website isn't working for me
Very inspiring guys thank you very much
Thank you BP, you've inspired me to refinance my existing home loan. It's loan refinance process is painful, but when you do the numbers you will save a lot of money in refinancing loans. - From a fan from the Philippines.
Nice to see fellow Filipinos watching them too
Another top notch interview with another real estate stud.
Good information. Thanks!
What was the app called 14:00? Rent tube? Rent-to? I can't find it. Please help!
Curious Todd, do you furnish these places?
Bedroom rentals are nice. Even if you do Airbnb with them!
I love the rich dad poor dad book Awesome Book . Also an old book but the Compound Effect
Awesome! What about parking for 6 tenants in 1 house?
Rent by the room! I love it
He said he bought his first house using FHA and put it on rent which constitutes investment purpose. Would that be considered mortgage fraud?
Awesome, really liked that idea
I feel like a lot of what this guy is saying could potentially lead to Fair Housing Act. Currently reading Brandon Turners property management book and some of this seems iffy with the boys in this house and girls in that house.
@32:02 Yes! If you have time for the next book read look into "Millionaire Next Door" some call that type who like to spend money and look rich "Big hat...No cattle".
Fabulous interview
Brandon, what is that saying that you have in the frame behind you. Where the books and plants are. By the way great content.
Gogogogogo, I truly like his style of scaling. Thank you
Thank you for teaching
This is brilliant!
Renting out by the room or HMO as we call it in the UK is also a great way to house hack if you are getting started.
This is a really great strategy great job 👍
How does insurance work ??? @ renting rooms
Hey guys! I really would like to share my story with you, And I would really like to do a podcast with you :-)
Hi Suzie,
I'm looking to learn how to get into investing my first property and would like the chance to receive any advice and guidance from you.
bR z I will be making a video today, a guide to choosing your first income property. Please check my channel this evening or tomorrow for the new video, and then please let me know if you have any additional questions. Thank you!
Loved all these ideas
Great story 👏
Love the house keeping idea ❤️
salute todd
I remember learning about rooming houses with my Carlton Sheets course. Awesome stuff. But what about COVID and having so many tenants per house?
So?
XRP so what?
World Wide Hustlers investors don’t care about trivial stuff like the flu 👍🏾
Metta HD it’s not what YOU care about but what can have you in court and you’re being sued for everything you own. Knowing the law especially with these new changes upfront will save your business in the end. An ounce of prevention is worth a pound of cure.
@@worldwideachievers1234 you can't sued from getting covid. Quit watching CNN. People have literally millions of bacteria on them. Could never trace it accurately nor prove it. Plus time get on living considering survival rate is now near 99 pct
Charoltte NC has that same model
392 🔥
this is incredible. this is exactly what i wanted to do.
How long did they live in each house before they moved.
Legally you have to stay at least 1 year.
I was just in Maui! I live on Oahu! The tiki beach hostel seems similar to this method
Hi, I love Hawaii and would like to hear more about the tiki hostel and more about making a living out in Hawaii,tips etc. Thx😀
I'm on Oahu too! I'll have to check out the tiki when I go to Maui. Let's talk real estate sometime.
This is so smart
great plan if you are wealthy but the average house income is $63,688. they make over 200k a year
Thanks again 🙏🏼 love 💓 cash 💰 flow
This is so normal to me cause I lived in LA for so long. Everyone lives with strangers and rents a room to someone ha.
I just refi at 2.25%
8 bedroom 😳 How many kids were you all trying to put in this house? Lol But I also thought about doing this!
My mind is blown.
"I don't judge people by the way they dress" next sentence "I have found out that it is easier to trust people based on the way they dress", lol that is textbook definition of judging people by the way they dress
This is the guy I wanna hear from not the one who owns a bunch of property and makes $50-150 off each or breaks even 🤮a grown person needs atleast $3000-$5000 a month to live especially with kids
Those low monthly cash flow really turns me off. I get it down the line to have property’s but it’s such a risk to be nervous every month for 30 years
You put savings for each property.....
Evolv23 but still, just $150 a month? maybe the deal could be more a net worth increase by buying undervalued but the single families todd’s buying there is less competition compared to apartment communities and you could buy those undervalued easy too and get cash flow and house hack too
Mike Smith Lol he obviously has no responsibilities don’t bother
“CNBC really vets you”
And then they had dan billzarian on (with Kevin O’Leary) at his house he rented so they changed the title
Great job vetting, CNBC
Yo. I know this guy.
CNBC Millennial Money?
CNBC Millennial Money and Graham Stephan anyone?
This is great idea when venturing into real estate for the first time but scalability is a huge problem and you'll eventually need to get into traditional multi-families to achieve growth
How?
How is it a problem?
Awesome
MEGAZEEN‼️
I don’t agree with the dress thing I mean if a guy meets you in a Lambo with paint stained jeans or a Corsica in a suit his/her business plans should be all that matters
The kite and line example is perfect
LOL... "60 grand a year, like most people do." I'm 47 and make $48,000 at my full time job. :-(
Looks like you need a little bit of beard oil Beardy Brandon
Cash flow ..but with big debt
Sell those Seattle properties. The crazies are going ruin you
I would really like the useful information that im sure is in here somewhere but i just cant sit thru all the useless chit chat to get the info i want. Bye.
If y'all haven't seen a documentary called... It's worse then you think... By revelations of Jesus Christ ministry... I suggest you do... All praise and glory to the most high Jesus Christ
For some with such a disgustingly haggard looking beard you are really one to talk about appearance lol. I honestly wouldn’t be able to take anyone serious who grew a beard out like that.