Monday Aug 19, 2019

Real Estate Side Hustle with Bigger Pockets CEO Scott Trench

Find out how to earn more in real estate investing than in the stock market, learn how to leverage SO MUCH more from a single-family home, discover what is house hacking, and the different ways to do it.

Resources/Links

http://www.biggerpockets.com/

Summary

Scott Trench is the CEO of BiggerPockets.com, the largest real estate investing network on the internet. He’s also a personal finance nerd and author of “Set for Life” and host of The BiggerPockets Money Podcast, a real estate agent, and a real estate investor of which he currently owns 8 units across three properties in Denver, Colorado.

In this episode, Scott shares his real estate investment hacks to grow your portfolio and generate an income passively, if you are a newbie at real estate, check out all the different strategies he has for start-ups.

Topics Covered:

02:05 – His thoughts on real estate as a passive side hustle

03:09 – Book alert: Set for Life: Dominate Life, Money, and the American Dream By Scott Trench

05:35 – How he got interested in the concept of financial freedom

08:26 – How to earn more in real estate than in the stock market

10:57 – How to moderately leverage on your real estate investment

12:06 – What is house hacking

14:07 – Leveraging on a single-family home real estate

15:56 – Ways on how you can house hack your own residential home

17:18 – What to look forward to in Scott’s biggerpockets.com website

Key Takeaways:

“ I love and have been friends with many different investors who are, ‘Hey, this is my business. This is full time. I am, or I’m aggressively pursuing real estate with the intention to make it my full-time thing’. But I think it’s also a very viable approach for someone like me who’s got a full-time job that’s not real estate investing and still intends to deliver significant returns and excess of alternatives like stocks or other different asset classes through privately held real estate that I own and control.” – Scott Trench

“My philosophy around this is ’I’m going to buy consistent properties and I’m going to keep them reasonably leveraged but make sure that I have strong cash flow and a strong cash cushion to fall back on’.” – Scott Trench