Need more money to buy your first (or next) rental property? The right real estate side hustle could help you learn the industry AND pocket some extra change to put toward your next investment. In this episode, we reveal a low-cost real estate business that nets $4,000 a month. Don’t believe us? Tony’s done it himself, and he’ll show you how to get started!
Welcome to another Rookie Reply! Today, we’re answering questions from the BiggerPockets Forums and Real Estate Rookie Facebook group, and to kick things off, we’ll hear from an investor who’s tired of house hacking. What’s the best way to transition to another investing strategy without sacrificing the killer cash flow that renting by the room provides? We’ll share our favorite pivots!
Next, we’ll discuss buying mortgage points, a strategy that could help you save money and create more monthly cash flow—IF you plan to keep the property for the long haul. And finally, launching a side hustle is a great way to break into real estate, learn the industry, and make more money to buy rentals. We’ll share an overlooked Airbnb business that has very low startup costs yet could net you $4,000 per month!
Ashley:
Welcome to another episode of Ricky Reply, where we’ll be diving into the real challenges of growing your real estate portfolio, starting with the burnout that can come with house hacking to making smart financial decisions about mortgage points, to launching a side hustle that solves a common real estate problem.
Tony:
Today we’re tackling questions that show different stages of the investor journey. We’ve got someone who’s been house hacking for four years and is wondering if it’s time to prioritize their own space. Plus a detailed look at whether buying it down mortgage points makes financial sense on a cash out refinance. And finally, someone who’s worked in real estate for a while and is looking to start a side hustle. So let’s jump in and help our rookie investors navigate…