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This is the twenty-third day in our 31-Day Money Challenge. Over 31 days we’ll publish 31 podcasts, each designed to help you move closer to financial freedom. Yesterday I shared my own asset allocation and investment selections. Today I’m excited to share with you an interview with Brandon Turner about how he started from nothing and in a few short years built a full time business investing in real estate.

Sponsors: The 31-Day Money Podcast is sponsored by Betterment and Personal CapitalBetterment and Personal Capital are two tools I use to make investing easier, less expensive, and more effective.

Table of Contents:

Topics Covered

  • How Brandon bought his first home while making just $9 an hour.
  • How he made $25,000 profit in less than one year on his first home.
  • Why flipping a house may look great on TV, but is really just a job with high taxes.
  • The advantages of buying a duplex as a first property.
  • Why renting to family or friends is a bad idea.
  • What a “hard money” loan is and how it helped Brandon buy a rental property.
  • The importance of developing step-by-step systems to manage rental properties.
  • Why Brandon doesn’t accept cash payments for rent.
  • How you get into real estate investing if you don’t have a lot of money.
  • Why every problem in real estate investing flows from a bad decision by the landlord.
  • What the 50-50 rule is on multi-unit properties.

Resources

Day 24: Are you on track to retire?

Author Bio

Total Articles: 1083
Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Article comments

2 comments

Never give up if you ever experience a setback with your plan and strategy. The real estate market is filled with many great and bad times, so make sure to stay strong if you hit a lull in your search. Persistence is the key to success when dealing with real estate.

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