Episode #446
Episode Show Notes: https://link.chtbl.com/Rookie
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Can rookies find rental properties that cash flow in today’s housing market? Yes! But you may need to get creative. This investor made the numbers work by discovering extra income streams in his own backyard, making a cross-country move, and using artificial intelligence (AI) to find better deals!
Welcome back to the “Real Estate Rookie” podcast! Joe Schmitt has built a modest real estate portfolio of four properties in four years, but the journey hasn’t been easy. His very first deal saw him tackling home renovations and building a second rental unit on his property, an effort that allowed him to force appreciation and create more cash flow. The only problem? Joe was quickly being priced out of his Los Angeles market. So, he took his operation to the East Coast instead!
There are many levers you can pull to make a deal work for you, and in today’s episode, you’re going to hear about all the different investing strategies Joe used to his advantage—from building accessory dwelling units (ADUs) and investing out-of-state to using Chat GPT to negotiate a $40,000 discount on one deal!
00:00 Intro
00:44 Joe’s FIRST Deal
07:01 Building the ADU
16:17 Moving to Nashville!
26:47 Saving $40K by Using AI?!
32:48 3 Tips for New Investors
35:33 Connect with Joe!
