A rental property that doesn’t cash flow can be a nightmare for new investors. But when the numbers no longer work, remember that not all is lost. Pivoting to another investing strategy can help save your property and get you right back in the green!
Welcome back to the Real Estate Rookie podcast! Investor Kayley George had already built a small portfolio when she stumbled across an old, colonial-style home on the multiple listings service (MLS). With big plans to convert it into a fourplex, Kayley bought the property at a huge discount and got right to work—teeing up a hard money lender and kicking off renovations—only to uncover several MAJOR issues with the house. Fortunately, tuning into a previous Rookie episode helped her find another strategy and SAVE the “misfit” property. Today, this unique house brings in over $7,000 each month!
Not sure what to do with your rental? In this episode, you’ll learn about a business model that allows you to not only make a huge difference in your community but also boost your monthly cash flow—sober living. Along the way, Kayley will show you how to get bank financing for a sober living house, partner with nonprofits, find a property manager, screen tenants, and more!
Tony :
This is Real Estate rookie episode 421. My name’s Tony j Robinson, and welcome to the Real Estate Rookie podcast where every week, three times a week, we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey. Now, today’s guest, Kaylee George was able to save her real estate deal from foreclosure by listening to this show, the Real Estate Rookie. What a crazy story. But after listening to one of our podcasts, she was able to pivot to a new strategy that not only saved her deal, but offered her 100% more cashflow, and it’s called Sober Living. So today we’re going to learn from Kaylee’s trial and error of jumping into this new asset class by breaking down her first sober living deal,…