Over $1 million in real estate with $0 down—at 19 years old!? After reading the book Rich Dad Poor Dad and catching the real estate “bug,” today’s guests went from broke college dropouts to real estate investors with three multifamily properties to their names in a matter of months.
In this edition of the Real Estate Rookie podcast, we’re speaking with real estate duo Caleb Hommel and Chuck Sotelo. After his parents dealt him a six-month ultimatum to figure out real estate and move out, Caleb knew he needed to land a deal fast. The issue? These two friends had very little money, and at just 19 years of age, no credit history. Facing a seemingly impossible challenge, the pair went to work—calling roughly 1,000 different real estate brokers in pursuit of their big break. Finally, the right opportunity came knocking.
Today, Caleb and Chuck own properties in three different Texas markets for 28 total units. If you have yet to land your first real estate deal, whether it’s because you don’t have money to invest or you haven’t found the right market, you don’t want to miss today’s episode. Tune in as we talk about how to buy real estate with no money down, how to build your buy box, and how to find the best property management companies to take care of your out-of-state assets!
Ashley:
This is Real Estate Rookie, Episode 283.
Caleb:
Yeah. So today we’re at 28 units. We’ve got three deals across Texas. We’ve got a 10-unit in McAllen, an eight-unit in Laredo, and a 10-unit in Houston.
Chuck:
Well, first of all, we love just more units. I mean, it’s just more scalable, so we can just keep that momentum going. But also, I feel like there’s a lot of opportunity in that mid-size multifamily range, or small, or whatever you want to call it, because a lot of them are just self-managing.
So if we can get a good manager, a good operator, and we throw them in there, and we do a little bit of renovations, we pick it up, the ship, so it’s actually…