Business:Investing
359: From His Grandma’s Couch Making $15/Hour to $30K/Year from ONE Property w/Jaryn Pierson
2024-01-23
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!
In This Episode We Cover:
Jaryn’s multifamily rental property that brings in $30,000 per pear
How to raise rents on existing tenants (and keep them happy!)
Avoiding the banks to get a GREAT deal with seller financing
Jaryn’s biggest lessons learned as an Airbnb host
How to find clients for your property management company
When to focus on stabilizing your portfolio instead of scaling your business
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
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Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount
Sign Up for the Real Estate Investing Virtual Summit
Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms
Raising Rent: How Much Should I Increase Rent Each Year?
Books Mentioned in This Episode
The Multifamily Millionaire, Volume 1 by Brandon Turner & Bryan Murray
The Multifamily Millionaire, Volume 2 by Brandon Turner & Bryan Murray
Buy Back Your Time by Dan Martell
Connect with Jaryn:
Jaryn's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-359
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