In the summer between my junior and senior year of high school I spent a few
hours working at a local strip club, but don't worry mom,
I was just helping out my plumber boss fix a leak and it was closed that day
anyway - so don't worry about it.
I've also worked on a congressional campaign run a handyman business and
spent time as a banker in a local bank and all of them were pretty terrible
jobs.
That is until I discovered real estate investing. Real estate has some
tremendous superpowers not least of which is its ability to get you out of a
terrible job.
My name is Brandon with BiggerPockets, today I want to share with you five ways
real estate can help you quit your job.
So, stay tuned.
Alright, real estate path Number 1 - House Flipping.
I know you've seen the TV shows -
the annoying guy and the attractive woman,
they walk in the dirty house the man takes a sledge hammer pounds a hole in
the wall and 25 minutes later they're touring the completed property and
counting their profit
although house flipping might be a wee bit different than what you see on
TV
you get the idea that you buy nasty houses, you fix them up, you sell them for
more and you make it rain, right? Alright, on Number 2 - You Can Own Cash
Flowing Rentals. Obviously being a landlord isn't the most glamorous job in
the world, but behind male modeling it's a close second.
Ok, maybe not but only rental properties can be a great way to get you out of
your job. Think about it. If you make just 200 bucks a month in cash flow
after all the bills have been paid per unit, how many units do you need to quit
your job? 20? 50?
Whatever the number is that's your goal. So go out and collect some rentals
Alright, on to Number Three - Wholesaling. Now imagine a scenario with me for a
second
your neighbor tells you that he wants to sell his go-kart for 500 bucks you know
that your cousin Jim Bob has been looking everywhere for a go-kart
so you get the go kart for 500 bucks from your neighbor and charge Jim Bob,
your cousin, 800 bucks and you make a cool three hundred just for facilitating.
The deal makes sense right?
The whole thing is pretty much the same thing, you find a great deal, you find
people who want a great deal, and you put them together and make some money on the
spread. Of course there are a lot of rules and laws that govern and the
practice of wholesaling and it's easy to get yourself into trouble with wholesaling
because
you don't want to break the law of practicing real estate without a
license.
But if you do it right, you can wholesale just one or two deals a month and make
enough money to quit your job. On to Number 4 - BRRRR Investing. BRRRR investing
stands for buy, rehab, rent, refinance, repeat. The basic idea that you find a
fixer-upper make it look pretty
rent it out to some rad tenants, refinance it - the loans you get all your money back,
and then you do it again!
You repeat it. Kind of a cross between flipping and rentals and it allows you
to get the advantages of both without some of the risks that they both have. Of
course as with any of these strategies we're talking about today there are
right and wrong ways to do it.
To learn more about BRRRR investing be sure to read our free guide at biggerpockets
.com/brrrrr - Onto Number 5 - Become a Real Estate Agent.
I know this one's a little different because it doesn't involve you invest in
real estate.
Instead you can make some nice income helping other people buy real estate
not only can you make money as an agent but you also get first access to deals
as they are listed. So being an agent might be a job but there's a good chance
it's a lot more fun than your current job. So don't put up with a terrible job for
the rest of your life.
Follow one of these five strategies and start planning your escape from your
9 - 5.
Now, if you enjoy this video I would like you to do three quick favors for me. If
you would first of all click the little thumbs up button on this video, so
YouTube knows it's the bomb.
Secondly come join me this week for a live webinar and BiggerPockets will be
talking about, you guessed it, real estate investing.
You can set up a BiggerPockets.com/webinar or by clicking
this button right here and last
be sure to subscribe to this YouTube channel by clicking this button right
here and if you do I promise you all your wildest dreams will come true.
OK that's kind of a lie and a little creepy, but with that let's get out of here for
BiggerPockets.com
my name is Brandon, signing off.
yeah