Escaping the 9-5 Grind with Just 2 Properties (in 2 Years!)
Summary
This BiggerPockets article shares insights from a host who built a two-property portfolio in two years, leaving their corporate job. Key takeaways include the importance of building relationships with real estate agents, creating a detailed buy box for property criteria, and carefully scoping out rehab costs before making offers.
Key Insights
- •The host built a two-property portfolio in two years and quit their 9-5 job.
- •The host secured their first property through an off-market pocket listing obtained through an existing relationship with a real estate agent.
- •The host underestimated the rehab costs on their first property, and the budget ballooned.
Action Items
- ✓Build relationships with local real estate agents and communicate your specific buy box (property criteria) to them.Effort: mediumImpact: medium
- ✓Thoroughly research and estimate rehab costs before making an offer on a property. Use tools like Chat GPT or get bids from contractors.Effort: mediumImpact: medium
- ✓When assessing potential properties for renovation, take detailed photos and videos of the exterior and interior, including closets and potential repair needs. Document everything in writing.Effort: mediumImpact: medium
Watch Out For
- ⚠Underestimating rehab costs can significantly impact profitability. Create a realistic scope of work.
Related News
TD Bank expresses cautious optimism for affordable housing in 2026
TD Bank expresses cautious optimism for affordable housing growth in 2026, with multifamily, senior, and workforce housing showing the strongest demand. Hosts, especially those interested in workforce housing, should consider the impact of rising housing costs on potential guests and the possibility of public-private partnerships.
Keller Williams sharpens focus on agent teams for 2026
Keller Williams (KW) is focusing on supporting real estate teams in 2026 through education, coaching, and new programs. Hosts can learn from these team models, and KW is watching macroeconomic trends like employment and inflation which impact housing and thus the STR market.
From Analysis Paralysis to Your First Rental: The 90-Day Action Plan
This article provides a 90-day action plan for new investors looking to purchase a rental property, breaking down the process into manageable steps from market selection to closing. Hosts should use this as a guide to avoid analysis paralysis and navigate the complexities of purchasing a rental, focusing on structured steps to make the process more manageable.
Developers land $18M investment for office-to-housing conversion in Muskegon - Crain's Grand Rapids Business
An $18M investment is being made to convert an office building into housing in Muskegon. This could signify a shift in local real estate and potentially impact the availability of housing, including short-term rental opportunities. Hosts might want to stay informed about local development trends and their potential impact on the STR market.