Find out how he got to live in a house with no mortgage expense and earning passive income at the same time, discover how Kellan was able to leave his day job, take a 3-month tour of 30 states in the US and build a 32-unit portfolio all in 2 and a half y...
Find out how he got to live in a house with no mortgage expense and earning passive income at the same time, discover how Kellan was able to leave his day job, take a 3-month tour of 30 states in the US and build a 32-unit portfolio all in 2 and a half years’ time, and know more about his strategy for finding really good property deals.
Kellan James started by house-hacking, and in just over 2 years, he built a solely-owned, multi-million-dollar portfolio consisting of 10 properties and 32 units. What’s worth noting is he did it all with no JV partners and was able to reach financial independence at the age of 29 while still working a full-time job!
Kellan has built a large and growing following on his Instagram account and YouTube channel where he documents his life and real estate investing journey on a daily basis – the struggles, successes, and learning experiences along the way.
In this episode, find out how Kellan was able to give up his day job and truly experience financial freedom so quickly.
“In-house hacking and in a perfect world when all is said and done the rental income from the other units is enough to pay for your mortgage, property taxes, insurance, and utilities. And you’re able to live for free in that property.” – Kellan James
“I recommend people for their first deals, the first couple of deals, try and do with your own money and then learn how to take on that risk yourself. And once you’re a competent investor, you can start bringing on joint venture partners, you can treat the deals as if they’re your own.” – Kellan James
“If you can keep up purchasing momentum and maintain 100% ownership, you have fewer relationships to manage, you keep 100% of the cash flow appreciation, and you just don’t have anyone to answer to if you have a renovation you want to do or if you have a unit that’s vacant.” – Kellan James
“It should be intelligent people making good money in real estate and like if you see people who aren’t doing it in an intelligent way, making serious money, that is something that’s just not sustainable.” – Kellan James
“It’s very important that the property’s cash flow well after refinancing. Because if your goal is to leave your day job and reach that financial independence, then you have to have properties that cash flow well, and you have to have properties where you can get your money back out and continue buying so that you can build that momentum and build a portfolio.” – Kellan James
“People talk about networking and networking to find deals. I’ll tell you, it’s not about networking with real estate investors because real estate investors want deals too. So, it’s about networking with people completely outside of the real estate world.” – Kellan James
“Take all the strategies that wholesalers are doing and do it yourself.” – Kellan James
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