From $25,000 purchase prices last week to $300,000+ group houses this week!
We head to the Bay Area today to meet pharmacist Ryan Chaw, who ventured about an hour away from his hometown and began buying 1 house per year and renting them by the room to college students.
Ryan collects nearly $11,000/month from 18 tenants, and is creating the kind of generational wealth his grandfather used to put both him and a sibling through college.
Does renting to college kids sound like a disaster waiting to happen? Well… Ryan has found several ways around this, and in this episode he outlines the checklists, systems, and “personal touches” he uses to self-manage without the headaches.
Ryan opens up about an early failure, too. He wasn’t getting all his rooms filled, and he realized he wasn’t doing a good enough job advertising. So he developed step-by-step, “P.R.I.M.E.” marketing method to attract a steady stream of qualified applicants… and you’ll learn each step today.
If you’re struggling how to figure out just how to create cashflow in a spendy market, follow Ryan’s lead! Get creative, consider rent-by-the-room and other outside-the-box strategies, and reap the rewards of greater appreciation and stability that come with high-priced areas.
Connect with Ryan:
Ryan’s BiggerPockets Profile – https://www.biggerpockets.com/users/RyanC410
Ryan’s Website – https://www.newbierealestateinvesting.com/
Click here for full show notes: https://www.biggerpockets.com/rookie35