House hacking and renting by the room are two of the easiest ways for rookies to dive into the world of real estate investing. Both investing strategies are affordable, low-risk, and easy to implement. The best part? They can help cover your mortgage payment each month and give you MORE money to invest!
Welcome back to another Rookie Reply! Want to earn some extra cash flow by adding an accessory dwelling unit (ADU) to your rental property? In this episode, we’ll show you how to present your plan to the city and get your new unit approved. If you need money for a down payment, you’ll want to hear about the creative method one of our recent guests used to come up with funds. We even talk about buying abandoned houses—how to locate the “missing” owner and swoop in with your irresistible offer!
Ashley:
This is Real Estate rookie episode 395. Would you consider using a Tesla as a down payment on your house? We’re going to find out today. My name is Ashley Care, and I am here with Tony j Robinson.
Tony :
And welcome to the Real Estate Rookie Podcast, where every week, three times a week, we’re bringing you the inspiration, motivation, and stories you need to hear to kickstart your investing journey. And like Ashley said, we got some great questions lined up for today. We’re going to talk about accessory dwelling units, when you can build them when you can’t, and what to do if you get stuck caught up by the city when they’re telling that you can’t build one out. And be sure to stick around until the end, because we’ve got a really cool story about kicking squatters out of your property with a 100% success rate. But first, let’s get into how Teslas are covering someone’s down payment. So one of the biggest questions that we get from Ricky Investors is, how do I get the capital to fund maybe my second, my third, or my fourth deal? And there are some traditional ways of just saving up your cold hard cash from your jobs, but there’s some more…