Are you tethered to your W2 job as your main (or only) source of income? What if it disappeared tomorrow? After a huge wake-up call, today’s guest realized he needed to take control of his financial future as soon as possible. In just two years, he scaled to 10 rentals that bring in a whopping $6,000 in monthly cash flow…and he’s not done yet!
Welcome back to the Real Estate Rookie podcast! Lorenzo Decaria thought his 18-year software engineering career was stable until his employer started making cuts. With his family’s finances in jeopardy and no backup plan, Lorenzo decided it was time to become self-sufficient. After a friend introduced him to real estate investing, Lorenzo committed all of his time and energy (and savings!) to buying rental properties, and in just two years, he has built a real estate portfolio that brings in $6,000 a month. The best part? His ultimate goal—achieving financial freedom—is within reach!
In this episode, Lorenzo shares the secret to his rapid success—using the BRRRR method (buy, rehab, rent, refinance, repeat) and reinvesting his profits back into his portfolio! You’ll also hear about the pitfalls of hiring shady contractors, the pros and cons of Section 8 investing, and how to maximize your cash flow by stabilizing your properties!
Ashley:
One of the challenges a rookie real estate investor faces is finding the right market to launch their first deal. You might want to look at economic factors like job growth, population growth, and price to rent ratio, just to name a few. But you also need to feel comfortable with the challenges of managing out of state properties.
Tony:
And our guest today did just that. He built a 10 property portfolio with the intent of finding financial freedom for his family, and he used the birth strategy and has weathered contractor dilemma and evictions all while self-managing from an entirely different state.
Ashley:
This is the Real Estate Rookie podcast. And I’m Ashley Care.
Tony:
And…