You're listening to the Master Passive Income Podcast Network.

Welcome to the Master Passive Income show.

My name is Dustin Heiner and I'm here to help you create generational wealth, afford anything you want in life by investing in real estate and achieve financial freedom.

And in today's show, we're going to be talking to a fantastic real estate investor who house hacked her way into her first property just by listening to this podcast.

And she's going to share with you how she did it and how you can do it as well.

All right, let's start the show.

Welcome to the Master Passive Income Podcast where we talk about investing in real estate with a special focus on making enough money so you can quit your job and live the dream life.

And now here is your host, Dustin Heiner.

What's up?

What's up?

Super blessed as always to have you here with me on the show.

Now, I am seeing so many amazing things going on in the real estate investing market.

And if you haven't started investing, you absolutely need to.

So this episode's 100% for you, walking you through and showing you how you can do it.

How normal, regular, everyday people invest in real estate, that's number one.

Number two, if you are already investing in real estate, you better be excited for what's coming or is what actually is here and also what's coming.

Now what I'm seeing in the real estate market is commercial real estate is going to be fantastic for us as real estate investors.

That's number one.

So if you're not investing in commercial, start planning that.

That's what we do in the Master Passive Income investor success roadmap.

We start with single family homes.

We eventually work up to larger deals, like medium sized deals, 15 unit, 10 unit, 15 unit apartment complexes.

And then we get it to large deals, you know, hundreds of units.

And so that's the process that we go through.

And I am actually looking to buy some amazing commercial properties or multifamily properties, 70 to 100 unit to 200 units.

And so we're looking to buy a bunch.

If you want to be notified of the deals that I do.

And remember, I'm not a syndicator, meaning I just syndicate other people's deals.

No, these are literally my deals that I am buying and we bring in other investors.

So if you're interested, check out the link in the description.

You can put in your information so that if we have a good deal, then I could reach out to you and just let you know and if it's a good deal, Then you can definitely just invest some money with us, which would be fantastic.

On top of that, we also are looking at the single family home market now.

Interest rates have gone back up.

Right now they ticked up.

And it's kind of interesting seeing what the price are, that the home prices are staying the same or they're dropping just a little bit, not a ton.

But I thought they would come down a lot more with these interest rates.

But honestly, properties are staying on the market much, much longer and as interest rates are going back up, prices are going to come back down.

I love that we make money if the market goes up.

If the market goes down or sideways, we make money because we make money in cash flow.

We'll do a long term rental if we can, short term, Airbnb style, mid term, we'll even do co living.

We have so many ways to make money from our properties.

And obviously you're here.

Listen to Master Passive Income where we talk about getting the passive income out of our properties.

And I'm going to walk you through every single one of these steps now.

You should be so excited about the real estate market.

Number one, if you're investing commercial, you should be very excited because there may be a lot of great properties coming on the market.

There's so many syndicators, ones that just basically resell deals.

They way overpaid for properties.

Well, that's great news for us as actual investors.

We're going to make so much money.

In fact, I'm just super excited for the next property that we're going to get.

That's number one.

But number two, if you're buying a single family home, a duplex, if you're going to house hack, if you're going to buy a quad, you know, four units, then you should be really, really excited because prices are coming down, interest rates will eventually come down.

It looks like the Federal Reserve will be lowering rates at least two or three times next year, which is going to be good.

And so I have a house right now, 8% interest on it.

It's my primary residence that we moved here in Tennessee.

I'm going to refinance it down to hopefully maybe a five and a half percent, a 6%.

I'm going to hold on to it till then.

But the great thing about it is I have another property in Phoenix that I left that.

That place is renting enough money where it pays off this mortgage than the new house that I'm living in.

And I'm putting like 5 or 600 bucks extra in my pocket after that mortgage.

Now also on top of that, the fun thing, you heard me talk about this last week we have the Real Estate Wealth Builders clubs, the monthly meetups.

We started one in Charlotte that's going amazingly well.

We have so many great investors just raving about it because it's all about networking, it's all about you connecting with people.

And we just started the one in Phoenix.

Phoenix was so much fun.

We had so much, so many great people and such a great time.

We're even going to have a Christmas party at Charlotte and Phoenix.

So if you go to rubecon.com club, you'll be able to see all the information of different clubs that we have.

And as we start up more clubs in different cities, you're going to hopefully have one really close to you that you can come and just be a part of this great thing of a community being around other people doing the exact same thing.

And just like the show we have today where I am interviewing one of my students who from listening the podcast got super encouraged to invest in real estate, then joined the MPI tribe.

That's our group coaching and courses and coaches and everything.

And has House hacked her way into her first property.

And she's going to walk you through how she's at it.

She is super inspirational.

She's fantastic at her investing.

And I brought her on because I want you to see that honestly, regular everyday people just like us can do this.

You just need to have the right people around you.

You need to have the right knowledge, the step by step plan in order to do this.

And you also need a community of people that have already done it.

And then they're going to encourage you along the way.

Just like the Real Estate Wealth Builders conference that we have, our next one is going to be in April 10th through the 12th, 2025 in St.

Louis.

You have to be there for that.

I kid you not, this is a community.

This is not a sales pitch.

We're not trying to sell anything.

All we're really trying to do is help you to invest.

So we got the Real Estate Wealth Brothers clubs, the monthly meetups.

We have the Rubcon, the Real Estate Wealth Brothers conference, three day conference in St.

Louis.

We have the coaching, we have everything for you.

So if you're not already investing just from listen to this podcast, which I think you can absolutely just listen to the podcast, get a bunch of lessons and invest yourself.

But if you need a little more help, we are there for you.

But the biggest thing is you can't do without community.

If you have other people around you, which, honestly, it took me eight to nine years doing it myself without in a community to invest in real estate.

But the students that I have, going through all the lessons that I'm teaching them, obviously, but then also the community, they get so much more encouragement, accountability, and even just connections, networking, and ideas on how to do their business well, because they're around other people.

I mean, that's the biggest reason why I constantly bring this up, is you need to be around other people so that you can help each other.

And life gets so much better when you help each other.

And so you are in for a great interview with one of my students who has done a fantastic job with her house hacking.

She's going to show you how she did it.

I'm bringing on Rosa Maria Smith, who's going to show us how she invested and how you can, too.

Here we go.

Rosa Maria, thank you so much for being on the show.

Thank you for having me.

I am really excited that you have.

From the very beginning, you're obviously nervous about everything, and then getting into investing, and then now you're literally doing it.

You're actually getting the house hacked.

Talk to us a little bit about how you got started.

You know, what got you interested in real estate investing, and then what got you into actually taking the jump into buying that first property.

Thank you, Dustin.

Really excited to be here and to talk about my journey.

It all started with a real estate seminar that I did back in November last year, and that really opened up my mind to just the types of ways in which people can get involved with real estate.

And so from there, it piqued my interest.

And after that, I kind of started looking for other individuals out there on Instagram, on podcasts that talked about real estate.

And a friend of mine actually recommended your podcast, so I started listening in.

And from that first episode, I was hooked.

You really are living a dream, and it requires work, right?

But the beauty about passive income is that there's so much flexibility to living a more flexible life, being there more for your family.

And so I am really kind of going for that direction.

I really want to make that happen in my life.

And so I decided to.

To start, you know, with listening.

Sorry, that's my cat, McGregor.

And so for everybody watching this on YouTube, because this is on YouTube as well, for everybody watching this, you're going to see her cat jump in front of everything, so totally cool.

Let's keep rolling.

We're good.

McGregor, he is so funny.

All right, come on, kiddo.

This is him telling me that he wants to eat again.

So McGregor is an avid eater, but kind of going back to the topic here, I started listening to your podcast, and it got to the point to where I was listening to every single episode, any moment I had a chance, especially when I'm on the road on the way to go get some groceries on my way back, wherever I went, I was listening to your podcast.

I'm still listening to your podcast as we speak.

And so I just kind of kept wondering, like, man, like, I want to do what Dustin's doing.

I want to do what these other real estate investors are doing.

How do I do it?

Well, then I came across a seminar that you had that talked about, you know, an overview of just all things passive income as it relates to real estate.

I joined that particular session, and after the session, there was a really good deal to take advantage of your.

Of your coaching program, and I couldn't say no.

So I went ahead and took the leap.

Not going to lie, I was a little scared.

But then somewhere deep down inside, especially after listening to your podcast, I felt like I knew you.

I felt like I knew you're.

It's so funny.

I kind of felt like I knew who you are, Dustin.

And so there was some familiarity, if you will, with taking that leap of faith.

And so I went ahead and said yes to the deal, and here we are, you know, what is it, six months later?

It hasn't been that long.

No, it hasn't.

And you, you've been a rockstar.

Like, you've been really working hard, and you're a hard worker.

So that is a huge bonus when you're actually doing this business.

And I 100% agree that as well.

What's interesting is I can teach literally anybody how to invest in real estate.

The hardest part, though, is getting them over that hurdle.

Number one, to think that they can do it or know that they can do it.

Number two, getting over the fear of doing it.

And that's why I have the podcast and YouTube channel and articles and literally everything else.

It's just to get people past that point of realizing that I'm scared to, man, I can actually do this.

And so now, you know, full circle.

You're actually on the podcast now, sharing your story of how you did it.

Now, I love the idea that you're house hacking.

Talk to us about now.

I know you wanted to start investing in real estate, and you were thinking, I want to buy a property.

What made you think about doing a house hacking as opposed to Just buying another house or buying a house to have as an investment property.

That's a really good question, Dustin.

I have been reasoning with myself on what to do as an adult, right.

Purchasing a house is like the ultimate adulting action, right.

It also comes with a large responsibility.

And so I wanted to make sure that the decision I made aligned to what my future goals are.

And so early on, as a matter of fact, early last year, I created a vision board.

And on my vision board, one of those goals that I wanted to accomplish was to purchase a multifamily property or a property that had more than one unit within the lot.

Right.

Whatever the description may be, like a mother in law suite, duplex, multifamily under that umbrella.

And so at the time I thought it was so far fetched to even think about that because at the time my credit wasn't all that, you know, my credit was at maybe like at a 640 at that time, just to be very honest.

And actually it was a little less than 640.

I was probably like at a 620, so still building my credit.

And so for me at that time, it felt far fetched.

It felt far fetched.

But something deep down inside told me that this was going to happen.

And so sure enough, earlier this year in June, I started really searching for a property.

But I kind of was trying to do the multifamily thing, but you know how it is, it's like a unicorn trying to find a multifamily, especially in areas where real estate is hot and, and Texas is a hot area for real estate.

And so multifamily are hard to come by.

So there got to a point to where as I was listening to your podcasts, there was one episode that I absolutely loved.

And you talked about multifamily, multifamily investing, but most importantly, house hacking.

And that episode resonated with me so much.

At that time I was in the process of purchasing a new property, single family.

I was going to go for it.

It had all the bells and whistles, brand new.

When I listened to your episode, it created a shift within me.

I remember literally that day I was driving on my way back from the grocery store and I was like, oh my God, that's what I need to do.

But then I was like, how am I going to back out of this deal with this new property?

Well, I went back to my vision board and I had a moment of reflection and I saw on my vision board it said multifamily.

And I was like, I have to follow this.

I know this deal is great.

I know this brand new property, I mean, it had everything.

I had a great deal, brand new everything.

But it wasn't aligned with me.

So that episode, it was so instrumental to where I am now because it really reaffirmed that I had to get back to what Rosa really initially wanted, and that was to purchase a multifamily and house hack.

And you really explained it in such a way that made sense.

One of the things that you said in that episode was, and I want.

To pause for a quick second and.

Share that honestly, I really want you to invest in real estate.

Now.

My new goal is to help 1 million people invest in real estate.

So two things I would ask from you.

Number one, if you get anything out.

Of this episode, please share it with somebody else.

Just say, hey, you know, check out.

Dustin Master Passive Income.

He really wants to help a million people to invest in real estate.

That's number one.

Number two, I want to get you to invest in real estate.

Get my real estate investing course, absolutely.

For free.

Text the word rental R E N T A L to 33777 rental to 33777.

I'll literally give you my course, show you how to find the area of the country to invest, how to build the business first.

You know, I always talk about that.

And how to find the right properties, how to make sure you're getting experts.

Do the work for you and scale.

The business to where you're making $250 or more in passive income.

Scale it to quit your job.

I'll literally get to you.

Or go to masterpassiveincome.com freecourse obviously it'll be in the description, but I really, really want you to invest in real estate because the more that actual normal everyday people own real estate that are good landlords, the better everybody's life gets.

Try, try to stay away from properties that are two story.

Try to do a multifamily that is, you know, separate units, even if they're side by side or they're on the same lot.

Maybe one is in the front, one is in the back.

And that really helped because there was a property that I was looking at once I made the decision to let go of that new property.

There was a property that I had on my list that was, it was two floors.

And when I listened to your episode, it really helped.

Kind of take that one out, weed it out, and then look at the other possible avenues that I had listed.

And so it just made sense.

Like it just makes sense.

Again, going back to that episode that your podcast episode, you talked about how revolutionary it is, right?

Not everyone is doing this, but once you figure it out and you understand the what and the why, it's kind of like why the heck is it nobody else doing this or not enough people are doing this, My God.

So I stuck to my guns after that and I just kept searching and searching and searching.

And really I listened to that episode about three or four times because I had a constantly kind of remind myself, why the heck did I get out of this brand new purchase deal, right?

This brand new property deal?

And I would listen to that episode and yet again, I'd get revved up and energized to keep looking for that multifamily.

And so it really helped with patience too because it's so easy to get derailed.

It's so easy to get just, you know, beside yourself and say, man, like, I don't think I'm going to find it.

So I can't stress this enough.

Your episodes really, really changed my trajectory, to be very honest.

They really did.

Especially that episode.

I wish I could tell you the number, the episode number, you probably know now that I'm talking about some of the stuff I mentioned.

I don't remember the specific number.

I probably should.

I really appreciate you saying that.

And I really love how you went through, not necessarily methodical, but you really well thought out through everything.

You wanted to see what your goals are, number one, and also where you're going to go.

You already knew your goals and then something started to not derail it, but just take your eyes off of it.

And then you realize, you know what, this is my goal.

And now I know we were talking before the show that you were so happy, you're so excited.

You're an investor, you are a real estate investor.

Even before you had bought this property, you were a real estate investor because this is the direction, this is the value that you put on yourself, not your job, not anything else.

It's like what you give yourself.

Now you're a real estate investor.

So I love and I also am really glad that you heard that my experience is a top and bottom duplex isn't the best.

I've had both side by sides as well as top and bottom.

And I just know that for myself it's much better having side by sides as opposed to top and bottom.

So I'm really glad and I'm really excited, encouraged that you listen that multiple times.

Here's one thing that's really, really fun.

So I got an email.

I believe he listens.

Shoot.

I can't remember his name off top my head.

But anyways, he emailed me and he listens to the podcast.

He said that he listened my podcast on house hacking.

You know, he's listening about real estate investing and he's literally driving to sign a lease on an apartment complex.

And if he's listening, hey, reach out to me again because I definitely would love to talk to you more about it.

But anyways, so he's driving to sign his lease on his apartment just to up.

Just to rent an apartment.

He's listening to my house hacking episode as he's driving there.

He gets there, he's about ready to sign, and he's looking at the paper thinking, I could house hack, man, what am I doing?

He literally gets up and walks out.

And then now he's in the process.

He actually, he is actually buying a house right now, a duplex that he's now house hacking.

Because he said, man, that episode was just playing in my ear as I was about ready to sign.

Like, yes, if I could get everybody to realize that it's possible that you can do this.

That was my biggest limitation when I first got started, was thinking I could do it.

Now that I've done it so many times and now have helped so many people just like yourself do it, it's so much easier or more simple.

Not easy.

That's not the right word.

It's simple.

There's a simple process as long as we go through it.

Now, when you started because you're in San Antonio, is that correct?

That's right.

Okay.

So in San Antonio, I invest in Texas.

I love Texas.

There are little nuances with Texas and little bit of taxes and everything.

There's no state income tax and things like that.

So they have to do other things.

But talk to us about finding this property, especially in a city that probably doesn't have a ton of them.

How did you find this property and what would you.

Anything that you learned through that process?

Once I listened to that episode, I'm telling you, like I said, I'm not even exaggerating.

It really created a shift where I was like, nope, I'm going to stick.

I'm going to stick to it.

Even though it's hard to find a multifamily property, I'm going to stick to it.

Even my realtor was like, are you sure you want to let go of this new property?

And I was like, yes.

But she asked me a few times you know, and enough times to where, you know, I would have questioned myself in the past, but I was so sure about my decision that I was like, no, I'm going to wait as long as I need to.

I'm going to drive around all of San Antonio, look up on the listings, as many listings I need to go through until I find the property.

So granted, again, like I said, Texas is a really hot state for real estate.

It's just, that's just the way it is right now, especially in this time that we're in.

And so right now, duplexes and anything above that are hard to come by.

And if they are available, they require a lot of work, substantial work where you're going to need to invest at least $20,000, end up on just getting the properties fixed up so that they're decent.

And so I came across a few of those and it got to the point to where every night after work I would start searching and I literally would spend two hours, maybe three hours on just searching properties.

And so I came across this property and I'll never forget, it was probably about 2am that night, that morning, excuse me.

And I saw the property, cute little blue house.

I'm like, oh, this is a cute house.

And I'm like, oh, this is in a really good area.

And one thing you've always stressed is location is a big deal.

Location, location, location.

And so I was adamant, I was asking for a unicorn.

Dustin.

I wanted a property that was in a really good prime location in San Antonio.

I wanted to have the capacity to house hack and I wanted it to be within my budget range, $250,000 or lower.

You're asking for a unicorn with those three things in San Antonio.

It's not something that you can come by.

Sure enough, I remember finding the property, four bed, three bath property.

And I was like, oh, this looks good.

Over 2,000 square feet, had a mother in law suite in the back.

And I was like, all right, I'm going to go check it out.

The next day, right after work, I head out to check out the property.

I drove up to it, I even got down, walked up on the, you know, just to the front of the sidewalk, kind of checked it out a little bit, kind of looked at the surrounding area and I was like, this is a good area.

There was a flyer right in the mailbox, copy of a bunch of flyers.

I pulled one out and it, and it said the property was on sale for.

Was on sale for 260,000.

That's out of my price range, right.

250 was the goal or below for me.

So once I checked out the property, I reached out to my realtor.

I said, hey, I really think that this property has some potential.

I'd like to check it out.

So sure enough about that following week I had a scheduled appointment to check out the property and I got to check out both lots.

Unbeknownst to me, this mother in law suite is a unit.

I mean, it is a full blown unit.

I mean, I got a big kitchen in here, two bedrooms, one bath.

It's a really good sized unit.

And it is, you know, it is not considered a multifamily.

It is considered a mother in law suite, which I am okay with.

And so I fell in love with it the moment I.

I mean there were so many signs.

It just took me back to my grandparents.

There were some plants and trees that took me back to when I was a kid at my grandparents house.

And I was like, oh my God.

But obviously you don't want to get emotionally tied.

So I was like, nope.

Dustin said get emotionally tied.

Look at what's in front of you.

Like what are, what are the real raw, you know, insights you can get from this property.

And so overall I was impressed.

I was like, wow, this house was built how long ago?

It looks good.

There was significant work done to the foundation.

The roof is a metal roof.

Very, very little rusting.

It's just going to require adding a high grade sealant.

The work that's required in the back house is all cosmetic.

You know, there's nothing significant that needs to get done.

It's just cosmetic work that the properties need.

And so I was pretty set on the first day, but I still didn't put my.

Again, emotions, don't get your emotions involved.

I waited until I got that inspection before I started really kind of thinking, is this it?

And so that's how I came across this property.

That's great.

So how much did you buy it for?

So we negotiated it down so it was at 260.

We got it down to 230,000.

Wow.

That's.

If you would have paid a full price.

That is $30,000 that you saved because you're an investor.

Investors.

We don't pay full price.

If we need to let a property go, we just let it go.

We don't pay full price.

We make money when we buy the property.

That's $30,000.

Good for you.

What did you start out in the negotiating process?

What was your first offer?

My first offer was 215 so I learned a lot from your negotiation, Todd.

You have a course on it on your master of passive income website.

And then you also talked about it in our coaching sessions about the importance of negotiating.

So honestly, if it wasn't for listening to your coaching techniques there and your tips, I don't think I would have even thought about negotiating.

But I remembered, I remember you said, don't be afraid to give a low ball estimate and propose that, see what they say.

And so that gave me that extra ounce of cour to just say, all right, I'm going to go ahead and offer 215, see what they say.

So that was my starting point.

I absolutely love that.

For what everybody listening, what Rosa is talking about is the real estate wealth, builders, how I coach everybody through the entire process from beginning to end, not having any knowledge of business or real estate and building a business, getting real estate, even negotiating, which I love to do.

It's one of my favorite things.

And just think about offering $215,000 on a $260,000 house.

Most people would think, no, no, I feel uncomfortable offering that little like, well, if you don't feel uncomfortable, you're probably offering too much.

You want to make sure that you're actually giving room so you can work your way up.

So, Rosa Bravo, that's awesome.

Now you got this property.

Really, really good deal, San Antonio.

Now, for everybody listening and watching this on YouTube, she's literally in her house right now.

If you could hear an echo, it's because she's renovating.

She's actually in the process of doing all this stuff and echoes because she's in a room that is actually her property.

She's literally bought it.

She's actually doing it now.

Rosa, from here, what are the numbers?

Like you bought it for 230.

What are the numbers looking like?

And how much money would you make in passive income once everything, all properties are rented, you know you did it again or you moved out and you were.

This is just an actual rental.

What are the numbers looking like?

Sure.

So I can give you.

I can kind of round off more or less what the numbers are to give you guys a snapshot of just how great this deal is.

So again, it's two units or two properties on one lot.

The back lot is a mother in law suite.

It's a really good size, just right under 1,000 square feet, but substantial.

It's a really nice property, especially for downtown.

This is good.

Downtown people are willing to, I mean, heck, they're willing to get a 700 sq ft property and then pay crazy money just because of the location.

So as far as pricing, I actually wanted to give this tip because this is another tip you gave us in your wealth builders program.

And that is.

And then also in the coaching calls and that is to look at other properties in the area and identify how much were they sold for.

And that was a really good negotiation point and that's how I managed to get it from 260 to 230.

There's a property down the street that sold for 200.

It was listed for 285.

I'm sorry, 275.

Completely renovated head to toe, similar to my property.

The only difference is the back property was converted into a two car garage.

And so I use that as a negotiation point to bring to my realtor so that we can negotiate with the seller.

And I said, hey, I'm thinking that it's going to cost me X amount of money to get this property to that, to that level.

And so I don't want to spend 260.

I'm going to go ahead and offer 215 so that I have that extra wiggle room to put in and get the properties renovated.

And so that's really how I was able to kind of get in and reduce the cost of the property by 30,000.

So I think that's really important is to look at the surrounding properties in the area, see how much they sold for.

Look at, okay, well, how many square feet, how many bedrooms, how many baths, what does it look like?

And so that really helped kind of reduce the cost of the property.

Not even kind of substantially.

Right.

So that was, I think you would say, destin, correct me if I'm wrong, that's extra equity.

Oh yeah, 100%.

And when you're also fixing it up too, you're even making more money on top of it because you're putting more or you're putting money into it, you're going to make more out of it.

That makes the value up higher.

Yes.

So as far as numbers are concerned, the monthly mortgage is 1600, which includes taxes, home insurance, homeowners insurance.

So everything all included into that, into that price.

So 1600 now based off of this area.

Gosh.

The rent.

I can.

The rent, the rent.

Capacity for a property, a back property of this size and number of bedrooms, we're looking between 700 as it is.

700 as it is, all the way up to $1200.

So between 700 and 1200.

And the difference there is.

And I've been looking at other properties are getting rented out.

It's all about the features, right?

Number one location, I've got that in the bucket.

But the other pieces of it is really to kind of get it up to date.

Like these other properties that are selling for 1200, they're renting for 1200 and people are renting these properties out.

So I'm doing a lot of research on what types of renovations can I do that don't break the bank, but can really get me that extra, you know, cash flow passive income that this property would be great for.

So I know off the back unit.

That's the back.

That is the back unit.

That's right.

The mother in law suite for.

And Rosa, you know this and I'll say this for everybody else and also reaffirm it.

And you is that you hit the nail on the head.

You want to fix up the property or rehab the property enough to where it's rent ready for the area.

You don't want to waste.

I would call it wasting, but overspending on like let's say getting all elaborate, you know, fixtures and appliances and granite countertops.

Like you don't want to overdo the property because you're going to be spending a lot of extra money which is not going to pay off in the amount of rent coming back to you.

You want to do it where it is a good property that's comparable to the other properties in the area and not overspend but at the same time make it nice so that people would want to rent the property.

So I think you hit the nail on the head.

You want to make sure that it's rentable and for the area get the best price for it, but not overspend and just, you know, throw away money that's not necessary.

So that's the back property.

How much would the front property rent for?

Oh gosh, the front property.

Oh, I mean that, I mean it'll be easy.

Easily I can start at a thousand as it is.

Easily start at a thousand.

I would say between 1000 to 13, maybe 1400 because it's a three bedroom, two bath, gorgeous property.

Gorgeous bay area windows.

Again, we are literally downtown San Antonio.

The other part too, Dustin, is that again, paying attention to the, to the neighborhood.

Right.

There was a property right across the street from me, also a blue house, three bedroom, three bath that just sold for $300,000.

What they just finished renovating this property.

It didn't even last that much on the market and it's already sold for 300 over $300,000.

So this is a prime area.

It's also a high flip area.

So I honestly, I got this property out of steel, to be very honest.

I really did.

So if you putting money into it and getting it as high as you can, as far as like making sure you can rent it for high as much money, you could probably get 13 to $1,400 out the front, let's say 1,000, 1,200.

If we just round it down just a little bit, you could easily be getting $2,000 from this entire property.

And your mortgage was, you said $1,600, 1642, that.

There you go.

And you know, property management fees, which is probably about $100.

And then you have your vacancy allowance as well.

You also have your repairs, your capital expenses, all that sort of stuff.

You're easily, and this is the bare minimum going to be clearing $250 a month in passive income.

Easily.

We always go after.

But that's like the low end.

If you can get 23, 20 $400, you're going to be getting 500, $600 a month in passive income once you move out and do it all over again.

So that's the next question I have for you.

What is your thought about now?

Obviously you just got started, you're in this, but you're an investor.

You're always looking for what we're going to do next and how we're going to grow and keep building the business.

What are your thoughts about the next property and how soon?

And yeah, so what's your thoughts about growing to the next property?

Thoughts right now?

I would say maybe within the next eight months.

At that point, I really want to start pushing for OPM, other people's money, looking into other avenues to fund those particular investments.

So for sure, I would say within the next eight months tops.

And you absolutely can do that.

In fact, obviously in the real estate wealth builders, I go through all the different types of funding that you can do.

In fact, even we have something special on specifically getting private money.

One of my students, Charles, he's a really fantastic at.

Yeah, Charles is a great guy, fantastic at private money.

He even gave us his to use in real estate wealth builders, gave us his entire PowerPoint program, PowerPoint presentation to actually send to people or walk people through, family members, business associates, all that stuff to get private money.

And he shows.

This is how I'm getting my deals.

This is how I get private money.

So that's inside the real estate wealth builder.

So make sure you check that out.

What do you do?

But you absolutely can.

Now, would you consider doing another house hack or would you consider buying a property that's a single family home or, you know, a duplex or something?

But how, what type of property you're looking into next?

I haven't gotten that far just yet.

I'm kind of teeter, teetering between another multifamily or purchasing a single family.

It just depends on the numbers and what really makes sense and then really what I have the capacity to get at that point in time.

I mean, ideally, I would love to do multifamily because that can only expedite my journey of becoming my own business person, not having to depend on a 9 to 5 to get me where I need to go.

And so my goal is to get there as quickly, efficiently, you know, as possible.

Let me give you a little bit.

Of coaching right now, because I definitely want to help you out.

First question, did you get an FHA loan to buy this property?

I did.

Okay, so with this, what I would strongly suggest is doing a house hack again with another FHA loan or getting a single family home with another FHA loan.

Now this is what I would suggest is as really quickly start looking into refinancing out of the FHA into a regular conventional loan.

Conventional, yeah.

You open up another opportunity to utilize the FHA loan again, because as long as you can use that because you're going to live in that property, I would absolutely do that all over again.

So from this point forward, start looking, talking to other mortgage brokers about refinancing.

And actually probably you won't be able to pull out much cash because just equity and everything, but getting it out of the FHA loan and that frees up the slot to buy another duplex, another triplex or fourplex, whatever you can.

And then what I would suggest is you've already got that property out of the FHA loan.

The criteria that you need to be in there for at least a year is gone.

Then buy another one with an FHA loan, a duplex, move into that one.

Now you have this one completely rented, probably making you 5, 600, $700 a month in passive income.

You have this now, four units because you bought another duplex.

Then you're FHA, you're living in that one, renting out the other one.

If you just keep doing this over and over again, my goodness, you could quickly grow and grow that business.

In fact, just last week I had one of my students, I worked with him about Eight months ago, maybe a year ago, he texted me and said, hey, Dustin, I am so excited.

I am on to my fourth duplex.

When I said other things like, I am so excited that you helped so many people out.

This has been a great, you know, for him and his family.

But on his fourth duplex, he's moving on.

We can absolutely just keep as long as we know our options, you know, and that's one thing I love to do with my students, is give them so many options so they can see all the different things that they can do.

And with their risk tolerance, they'll figure out what's best for them and their family out of the all the options.

So that's what I would suggest, if that's possible, keep doing that.

But at the same time, Rosa, I think you said something very, very crucial is it could be a single family home, it could be a duplex.

Whatever opportunity comes up, let's say it's a great single family home to jump on, then do that.

If it's a great duplex, to jump on, then do that.

Whatever opportunities come up and whatever means are there for you, you want to move on.

Good deals.

Do you have any thoughts, lessons, or any else that you learned through this entire process that you can share to everybody else?

I would say listen to again.

You always want to rationalize, right?

Any purchase that you decided to put your eyes on.

But what I would say is really decide on what it is that you want and stick to that.

Stick to it like your life means it.

One thing that'll help is in listening to your episodes on your podcast.

I would say listen to those episodes.

Listen.

I mean, go back to last year if you have to, and just listen to these episodes as you start listening to the tips and tricks and just the people that you interview, that'll help you identify what resonates with you on what you want your future to look like.

And once you've decided on what that is, at that point, run with it.

Like your life, you know, like your life needs it.

Like, you know what I mean?

And then join your program.

Your program is awesome.

It is so good.

It really helped me go from brainstorming to taking action.

And so if you are at that point where you are like, I know more or less what I want, do the program.

You will be so glad that you did.

And COVID 19 is the perfect time to take advantage of the COVID 19 pandemic.

It has been unfortunate.

A lot of families have been impacted.

I was impacted with COVID 19 myself.

In July, I managed to make it through.

But I want to say this, and that is now is a perfect time.

Now is a perfect time to study, to learn, to listen to some episodes on the podcast, any other podcasts that are out there that are real estate focused and just kind of dabble into those different avenues on what direction to take that'll help you formulate what you see your future to be and then for that, run with it.

I agree.

And what happens to most of us, actually basically everybody is life happens.

And things like not necessarily coronavirus, but life in general happens.

Your car breaks down or, you know, things happen in life.

And it's easy to push our goals or our desires to become financially independent, to quit that just over broke job.

They get in the way and they put hindrances on us to achieve our goals.

And I love how you said we just got to push and we got to go after them as if our life depends on, like, just keep going after it because eventually it's going to work out.

You're going to make sure you get it done.

And I love, also the second point was you are learning.

You are learning through the.

You didn't just jump into this process.

You actually learned first before you can actually buy the property.

That's the thing that I get.

A lot of people ask me this question, should I do this or that?

They'll say, should I learn first or should I start, you know, to buy the property?

I'm like, don't, don't do either.

Like, do them both at the same time.

Like, you learn first, number one.

And then as you're learning, you're going to realize what a good deal is.

You're going to learn exactly how to find the right deals, how to get other people do the work for you.

And like, for everybody listening, that's what Rosa was talking about, was my real estate wealth builders community, where I literally do group coaching.

All of my five courses are in there.

We have the student community, the student success program.

Try to do everything I can.

I just love seeing students like Rosa here and everybody else succeed.

Literally seeing that, my goodness, this is possible.

Yes.

And so when my students buy their first property, just like you, Rosa makes me feel like, oh man, I did it myself.

I feel like I did it all over again.

It's so much fun to do this with my students now, Rosa, they give us so much great insights.

I'm encouraging Rosa to your next property.

Just keep doing it, keep rolling it.

Even talking about how you did it, you know, just.

It's so great that the people that find me, they realize that I just want to help people and in turn I want you to help other people.

And so what you're doing is just literally documenting saying, hey, this is possible, guys, you could absolutely do this.

So I am really glad that you did that.

When you told me that, I was like, oh, I am so following that.

That is great.

So we will have all that in the show notes page.

Thank you, Dustin.

Thank you for everything.

I really appreciate all of your coachings.

Oh my gosh.

An amazing experience.

Extremely grateful.

Grateful for all of the knowledge that you have given.

And that is it for today.

Go ahead and get my free real.

Estate investing course Text Award rental to 33777.

R E N T A L to 33777.

You can also join my real estate.

Wealth builders group coaching.

Get all my courses.

All right, guys, we'll see you in the next show.

See ya.