I Made $92k (Tax-Free) From One Real Estate Deal—While Working 9-5! | Bigger Pockets Video
Episode #614
Baselane: Automate your real estate finances with banking and AI-powered bookkeeping. Claim your $100 bonus!
link
Episode Show Notes:
link
Join BiggerPockets for FREE 👇
link
Grab the Book, “Investing in Real Estate with No (and Low) Money Down”: link
Sign Up for the Real Estate Rookie Newsletter:
link
Find Investor-Friendly Lenders:
link
How to Buy a Rental Property With No Money: 10 Strategies for Real Estate Investors: link
Connect with Tony:
link
Connect with Ashley and Tony:
Ashley: link
Tony: link
Think you need a big bank account or extensive investing knowledge to buy a rental property? Today’s guest got started with no money down, and this first real estate deal would open the door to multiple deals and six-figure profits. How did he pull it all off? You’re about to find out!
Welcome back to the “Real Estate Rookie” podcast! Tony Borman hit it out of the park on his first two deals. After buying his first property with $0 down and selling it for a $50,000 profit only a couple of years later, he then found and fixed a property that gave him a $92,000 tax-free payday. But then he hit a snag in his investing journey—buying a rental that lost money once property taxes spiked and going through not one, not two, but seven different contractors on his very first house flip!
Despite the recent hiccups, Tony is investing for the long haul, and in this episode, you’ll learn how keeping your W-2 job can help you absorb large losses as you’re learning the ropes. Tony also shares about the difficulty of finding (and keeping) great contractors, the biggest mistakes rookies make when analyzing rental properties, and the risks every investor needs to know about before tackling home renovations!
00:00 Intro
00:37 Buying His First Property
08:47 Making $52K in Profit!
12:20 Sponsor: Baselane!
13:18 The $92K (Tax-Free) Payday
19:39 Tony’s Property Tax Blunder
28:32 Failed Flips & Bad Contractors
38:08 Connect with Tony!
