Episode #359
Could ONE multifamily rental property change your life? Just five years ago, Jaryn Pierson was sleeping on his grandma’s couch, working a minimum-wage job, and getting sober. But when the right deal came along, it altered his financial future!
Welcome back to the “Real Estate Rookie” podcast! Jaryn discovered real estate during the lowest point of his life. When friends and family warned him not to invest, he bought a duplex in his hometown. Today, that property nets $30,000 in cash flow each year! Since then, he has only added to his portfolio—buying an eight-unit apartment building through a RARE seller financing opportunity and launching his own property management company. His old minimum-wage job? He’s still got it, only he has been promoted to general manager of multiple locations!
In this episode, Jaryn shares some of the biggest lessons he has learned during his real estate journey—from becoming a better Airbnb host to raising rents on long-term tenants. You’ll also learn how to find properties to manage, as well as why you should focus on stabilizing your portfolio rather than scaling it!
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Books Mentioned in This Episode:
“The Multifamily Millionaire, Volume 1”: https://store.biggerpockets.com/products/the-multifamily-millionaire-volume-i?utm_source=owned_media
“The Multifamily Millionaire, Volume 2”: https://store.biggerpockets.com/products/the-multifamily-millionaire-volume-ii?utm_source=owned_media
“Buy Back Your Time”: https://www.amazon.com/Buy-Back-Your-Time-Unstuck-ebook/dp/B09Y55GLXJ
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Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms:
https://www.biggerpockets.com/blog/rookie-352?utm_source=youtube&utm_medium=description&utm_campaign=none
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Raising Rent: How Much Should I Increase Rent Each Year?:
https://www.biggerpockets.com/blog/how-much-should-i-increase-rent-every-year?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Jaryn:
BiggerPockets: https://www.biggerpockets.com/users/jarynp?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/
Tony: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/
Show notes at: https://link.chtbl.com/Rookie
00:00 Intro
00:41 Life Before Real Estate
08:07 Buying His First Property
16:33 Numbers on the Duplex
24:59 10 Bookings in 24 Hours!?
32:13 The Property Management Business
39:08 The 8-Unit Deal of a Lifetime
49:41 How to Raise Rents
55:06 Connect with Jaryn!
