Good morning,
Have you ever gone on a vacation and thought: I could definitely live here full time? Personally, this has happened to me a few times.
What’s awesome about real estate is that you don’t need to be tied down to one location. So long as your property management is solid – you can live anywhere.
This week we have one such investor. Who is showing you don’t need to even live on the same continent as your properties! It is my pleasure to introduce you to Austin.
How many doors do you have?
Currently I have 5 doors
What got you into real estate investing?
I wanted to get out of my 9-5 and have my time free!
What markets do you operate in?
Charleston, SC and Perth, WA Australia
How would you describe your portfolio?
Single family homes, mixture of LTR & STR.
What are you currently buying?
Looking for additional properties that yield at least $500/month in net cashflow. Gentrifying areas.
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Tell us about your biggest mistake in real estate?
My biggest mistake was not having financing in order before offering on properties. It was such a headache and very stressful situation trying to organize funding last minute.
Tell us about your biggest win in real estate?
My biggest win was taking the risk to start the first Airbnb property. The cashflow nearly doubled from where it was as a long term rental.
Outside of real estate what else do you invest in?
I invest heavily into crypto and also in my e-commerce. A lot of my funds go towards my online brand also.
Books people should read before investing
The house hacking strategy by Craig Curelop, Rich Dad Poor Dad, The Richest Man in Babylon, The 4 Hour Work Week
What advice would you give to a new investor?
Take the leap of faith. You won’t have it all figured out in the beginning and that’s okay. There’s never going to be a perfect time to start or a perfect property. Just focus on the first property and get a base hit. Wealth is the reward.
Austin 🏡x💰x📱 (@createwealthaw) / Twitter — twitter.com
Investor Building to $20k/month 💰 Retired From W-2 at 29 🏝 Real Estate, Crypto, Online Business 💎 I’ll Teach You How to Create Wealth👇
This week on the podcast
We all love the idea of short term rentals – especially those gross revenue figures! They make buying in a Class A+ beachside community a no brainer. Yet there are specific challenges that come when people are constantly coming in and out of a property.
This week we heard three stories on when things just don’t go according to plan. All coming from our very own STR Pro – Lauren K. Aumond (of Adulting Is Easy).
Links to listen:
Apple Podcasts
Spotify
Google Podcasts
Enough Business
As many of you know – I’m currently moving apartments. One of the major reasons why we choose to rent is the flexibility to move around. We spent a year in the suburbs (to be closer to our day jobs) and now we’re going back to the city (Chicago).
Moving our 850 SqFt apartment is fairly straightforward. But at the same time – packing, moving, & unpacking is not a fun task. Made me think of how us landlords talk about our tenants. Moving is not fun and having to unexpectedly move is awful.
So often I hear landlords / investors talk about ‘kicking the tenants out’ prior to a rehab or selling the property. Failing to see the humanity in displacing a person, couple, or family.
To be clear there are many instances where the property needs to be vacant. No one wants to rent a place that is getting a full gut rehab. But what I am saying is that we should try and have grace when it comes to terminating someone’s lease. Give them some extra time, connect them with PMs in the area, or maybe even give them a little bit of cash to make things easier.
Too often we forget that we’re in a service industry – providing housing to people.
Monday’s podcast:
An army recruiter who discovered private money. Going from 8-50+ properties in a 2 years.
