Business:Investing
355: $25K/Month from ONE Property Thanks to a $180K Discount & Creative Finance w/Dayna Hicks
2024-01-09
Can’t fund your next rental property? Never let a little money get in the way of a great deal! When today’s guest didn’t have the cash to buy the property of her dreams, she negotiated a MASSIVE discount and used creative financing to get it across the finish line.
Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Multifamily Bootcamp graduate Dayna Hicks, a foster parent and investor with a HUGE heart for the less fortunate. After reading Rich Dad Poor Dad and discovering BiggerPockets, Dayna realized that investing in real estate would give her something to pass along to her (many) children. It took her very little time to get started, buying three multifamily properties as a rookie!
In this episode, Dayna shares how she secured her latest deal—a thirteen-unit transitional house designed to help young adults get back on their feet. Dayna was able to negotiate the purchase price down by a whopping $180,000 simply by using her newfound real estate knowledge to her advantage. Now, the property brings in $25,000 per MONTH!
In This Episode We Cover:
How Dayna negotiated $180K off a seller’s asking price
Using creative finance to fund a unique rental property
The MANY advantages of investing in multifamily real estate
Leveraging your primary residence to fund MORE deals
Creative ways to raise rent on a good tenant (and keep them happy!)
Life-saving tips for managing a home renovation project
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Making $90K/Year with Just ONE Rental by Combining Compassion with Cash Flow
How to Negotiate House Prices
Books Mentioned in the Show
Rich Dad Poor Dad by Robert Kiyosaki
One Rental at a Time by Michael Zuber
Connect with Dayna:
Dayna's Email
hicks.dayna@gmail.com
itsyourturnnow2024@gmail.com
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-355
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