219: 3 Rentals Right Out of College as a Young Dad and First-Time Landlord w/Hunter Lewis
09/21/22 • 57 min
1 Listener
A successful investor finds their “why” where other people find excuses. Real estate investing isn’t without its challenges, but as you overcome more challenges, you become a better investor. Today’s guest’s strong “why” led him to real estate, and it’s what pushes him to break through barriers, overcome obstacles, and build the life he’s dreamed of.
Hunter Lewis’ "why" came two weeks before his senior year of college when he found out his girlfriend was pregnant. Knowing he was to become a father forced him to get serious about his future. He found a college mentor that was successful in the commercial real estate space and began working for his company. Hunter then saved up enough to buy his first property in July 2020. Since then, he’s closed on two other doors and is working on his fourth!
Hunter became a first-time landlord with his second property, and while it was a challenge initially, he learned more about property management and how to compromise. Becoming a father at a young age also taught him how to take advantage of opportunities and reframe obstacles. As a real estate investor, he’s learned how to structure partnerships with family and the benefits of patience. Hunter is now working towards his five-year goal—$10,000 of passive income per month.
In This Episode We Cover
Taking advantage of opportunity and finding ways to advance your career
Finding your “why” and reframing your obstacles
How to structure partnerships with family and significant others
Becoming a first-time landlord and how to self-manage your rentals
The importance of understanding and watching the market
Investing while working full-time and how to use your job to help you invest
And So Much More!
Links from the Show
The Ultimate Property Management Masterclass
Connect with Hunter:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-219
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
A successful investor finds their “why” where other people find excuses. Real estate investing isn’t without its challenges, but as you overcome more challenges, you become a better investor. Today’s guest’s strong “why” led him to real estate, and it’s what pushes him to break through barriers, overcome obstacles, and build the life he’s dreamed of.
Hunter Lewis’ "why" came two weeks before his senior year of college when he found out his girlfriend was pregnant. Knowing he was to become a father forced him to get serious about his future. He found a college mentor that was successful in the commercial real estate space and began working for his company. Hunter then saved up enough to buy his first property in July 2020. Since then, he’s closed on two other doors and is working on his fourth!
Hunter became a first-time landlord with his second property, and while it was a challenge initially, he learned more about property management and how to compromise. Becoming a father at a young age also taught him how to take advantage of opportunities and reframe obstacles. As a real estate investor, he’s learned how to structure partnerships with family and the benefits of patience. Hunter is now working towards his five-year goal—$10,000 of passive income per month.
In This Episode We Cover
Taking advantage of opportunity and finding ways to advance your career
Finding your “why” and reframing your obstacles
How to structure partnerships with family and significant others
Becoming a first-time landlord and how to self-manage your rentals
The importance of understanding and watching the market
Investing while working full-time and how to use your job to help you invest
And So Much More!
Links from the Show
The Ultimate Property Management Masterclass
Connect with Hunter:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-219
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Previous Episode
218: The One Move That Helped Me 2x My Rental Property Portfolio
Building a rental property portfolio isn’t complicated. You find deals, finance them, buy them, manage them, and repeat. What could be easier? For most real estate investors, it’s not the big steps that stop them from scaling. It’s the little ones. Finding deals means looking through the MLS, cold calling, driving for dollars, or door knocking almost daily. Financing means talking to mortgage brokers, local banks, or investment property lenders. These day-to-day tasks are what make or break your portfolio, so how do you get on top of them?
Welcome back to this week’s Rookie Reply, where we’re joined by On The Market co-host, Henry Washington. In only a few short years, Henry has grown his portfolio to over seventy-five doors. With kids at home, a family to take care of, and businesses to manage, how did he scale so fast? He gives his secrets in this episode.
And as a bonus for our BPCon2022 attendees, we have some tips for you on how to make the most out of the upcoming convention!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Links from the Show
Real Estate Rookie Facebook Group
Connect with Henry:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-218
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Next Episode
220: Rookie Reply: How to Buy Rentals Once You’ve Run Out of Cash
This week’s question comes from Jerry through Ashley’s Instagram direct messages. Jerry is asking: I’ve finally made the plunge and bought three investment properties. After I rehab, rent, and refinance them, where can I get more money to invest? Is there a type of loan for investors or do I need to look into a hard money lender?
Rental property loans are aplenty if you’ve found the right deal. Most veteran investors already know that once you have a good deal, it isn’t hard to find the money to fund it. But, before you build your rental property portfolio, you’ll need to know which options are out there. Don’t worry, you won’t need to spend months or years saving up for another large down payment. There are quicker ways to build a cash-flowing portfolio.
Here are some suggestions:
- Go the commercial lending route and look into DSCR (debt service coverage ratio) loans
- Partner with another investor or a private money lender to finance your next down payment
- Cash-out refinance from your previous properties and recycle that money into your next deal
- Once you have some investing experience, reach out to hard money lenders and ask for their terms and rates
- And more in the episode...
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Links from the Show
Real Estate Rookie Facebook Group
BiggerPockets Hard Money Lenders
Connect with Ashley and Tony:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-220
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Learn more about your ad choices. Visit megaphone.fm/adchoices
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