Strategies to Manage Single Family Homes while Still Working a Full Time Job
Welcome back to another episode of the richer geek podcast. I am happy to have Ryan Shaw. If you are ready to start building your real estate portfolio and aren’t sure how to consistently find profitable deals that make rather than cost, you money and find high quality tenants who don’t punch holes in your walls or start a pot farm in your garage – real stories by the way – then Ryan can help you.
In this episode, we’re discussing…
[1:09] Why considered W2 income important when he first got started
[2:09] How did he started investing in real estate
[3:41] Before he retires, how is he planning that… getting more real estate?
[4:34] His financial strategies on his properties before he retires
[6:21] His mindset and his plan to expand and own more properties
[8:53] If all his houses are bedroom rental
[9:19] The type of tenants he deals with
[11:06] How the sublease works on the leasing period
[14:42] If he has any ambitious on doing multifamily houses
[17:33] Where does he see himself in five years
Resources from Ryan
ABOUT RYAN CHAW
I wasn’t the most educated investor when I first started investing in real estate. I was inspired by my grandpa who went into real estate and was able to retire early. He had income coming in from his rentals until a ripe old age. With that income, he helped put my brother and I through our schooling.
When I started, I figured I might was well just “wing-it.” Didn’t have a mentor or coach. Very soon I realized what a bad idea that was.
I knew nothing about what kind of house to purchase, how to market for high quality tenants, and how to maintain the house.
I was simply an impatient kid who wanted to get started. In fact, I only looked at 2 deals before buying one of them!
This became one of the biggest investment mistakes I ever made…
After closing on the property, I found out that it needed millions of repairs. A pipe broke on one of my tenants and the sewage overflowed out of the sink onto the kitchen and bathroom floor! It smelled putrid. I had to frantically call plumbers all around the area. This was around 12 midnight on a weekend, so you can probably imagine I had to call a lot of numbers before I finally found a service to clean the (literal) shit up.