WARNING! Are You Juggling Real Estate & Full-Time Job?
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The video discusses the speaker's experience with real estate investing and the challenges they faced while working a full-time job. They explain the BRS method, which involves buying distressed properties, fixing them up, renting them out, and paying off the borrowed money with a loan from a bank. The speaker notes that while this method can generate cash flow, it is difficult to replace a full-time income with rental income alone. Instead, they suggest supplementing rental income with active income, such as through flips or wholesales. The speaker emphasizes the importance of not relying solely on rental income, as unexpected expenses can arise.
The speaker discusses the challenges of investing in real estate while working a full-time job, including devoting a lot of spare time to growing their real estate investing career. They suggest hiring a part-time employee or putting more trust in existing contractors to take some things off their plates. They also discuss their experience with property management, noting that they eventually hired a third-party company but were not satisfied with their treatment of the properties and tenants.
The speaker shares their biggest challenges and wins in real estate investing, including buying a three-pack of properties that appraised for less than they bought them for and learning about construction projects through their first fix and flip. They emphasize that while watching videos can be helpful, the majority of learning comes from actually doing it on the job. The next video will discuss how they quit their full-time jobs and why they did it.
The video discusses the speaker's experience with real estate investing and the challenges they face