292: Free Houses: How to Build a $1 Million Real Estate Portfolio on the Side
The Side Hustle Show - Un pódcast de Nick Loper of Side Hustle Nation - Jueves
Austin Miller built a $1.2 million real estate portfolio at 31 years old -- for free.
Note: Click here to download Austin’s top tips for finding and financing property from this episode.
He's a side hustling real estate investor specializing in "creative" financing deals -- houses he can buy without using his own money.
Austin is the author of Free Houses: How To Build Your Real Estate Investment Portfolio With No Money.
His basic strategy is this:
- Find a killer deal on a house that needs some work.
- Buy it with the creative financing methods Austin talks about in this episode.
- Either do the work yourself or hire contractors.
- Put a paying tenant in the newly rehabbed home.
- Refinance the home with a traditional bank loan and pay back the original funding source.
The end game is positive monthly cash flow from rental income, plus building a long-term wealth through tenants paying off the mortgage.
Austin has developed some unique and interesting ways to hard money and private money to fund his property purchases.
The best part – it’s truly a side hustle that can be done in a few hours a week the end result is passive income from rental revenue.
Tune in to hear how Austin finds killer deals, buys the houses without risking his own capital, and then rehabs them to get ready to rent.
