4 Rental Properties in 7 Years with LOW Money Down (5% - 10% Down!) | Bigger Pockets Video
Episode #498
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Don’t have a ton of money to invest in rental properties? No problem! You don’t need hundreds of thousands of dollars to start building wealth. Chris Young, a (not-so) rookie investor from Southern California, started with just five percent down. He bought a $500,000 home in pricey Los Angeles for just $25,000 out-of-pocket. Now, Chris has four rental properties, one of which he uses as a vacation home, and hundreds of thousands in equity! Plus, he did it all while working a W2!
Chris knew he wanted to invest in real estate early on. So, when he started his full-time job, he also got his real estate agent license, allowing him to have a backup source of income in case his career didn’t work out. But, thankfully, his real estate has been doing more than alright! He performed a “live-in BRRRR” (buy, rehab, rent, refinance, repeat) on his first property, making him hundreds of thousands in equity, then bought another one!
But, after attending BPCon, Chris knew he needed a true investment property. What gets you monthly cash flow and a vacation home to use whenever you want? A short-term rental! But not everything went as planned—one unlucky event put his entire house out of commission for months! However, Chris is still thrilled that he has bought this property. He shares why he picked its specific market, how he dodged local competition, and did it all with just ten percent down!
00:00 Intro
02:24 5% Down First Property
06:57 Property 2 (Rent-by-Room)
11:04 Finding 1st Short-Term Rental
19:36 10% Down Sequoia Vacation Rental
29:26 Losing $40K!
30:01 Setting Yourself Apart
39:44 Connect with Chris!
00:00 Intro
02:24 5% Down First Property
06:57 Property 2 (Rent-by-Room)
11:04 Finding 1st Short-Term Rental
19:36 10% Down Sequoia Vacation Rental
29:26 Losing $40K!
30:01 Setting Yourself Apart
39:44 Connect with Chris!
