Trying to build a real estate portfolio when you are brand new and work a full-time job can be tough. That’s why today we are excited to bring you an interview with an investor (and moonlighting stand-up comedian) with a remarkable story of using various “house hacks” to jump into the game. Charlie Kao, who hails from the Detroit, Michigan market, covers his entire investing journey, from condo investing to house flipping to landlording and more. And don’t miss Charlie’s powerful — and incredibly unique — strategy for finding deals through networking! Today’s show is sure to bring new strategies to your business, and the humor will leave you smiling all day!
In This Episode We Cover:Where Charlie comes fromHow he learned real estate from his dadThoughts on starting off with $5-40k housesA discussion about DetroitThe details of his first dealHow he realized how to live and flip via working at the bankWhat exactly an underwriter isCharlie’s first true flip in Grand RapidsThoughts on valuing your time when it comes to flippingTips for living in your flipHow he started out as a househackerHow he lived in the house for two yearsHow it might be difficult to live and flip with kidsTips for getting your spouse on boardHow to flip while having a full time w-2 jobHow many flips Charlie has done so farHow he finds properties and the price range he looks forThe mailman and the foundation specialist as sources of leadsHow he manages to get stated income loansSome of the worst deals he’s hadWhat would have he done differently if he started all over againAnd SO much more!Links from the ShowBP Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew CushmanBiggerPockets EventsThe Secret to Unlocking Bank FinancingBooks Mentioned in this ShowRich Dad Poor Dad by Robert KiyosakiThe 4-Hour Workweek by Timothy FerrisMaximum Achievement by Brian TracyThe Psychology of Selling by Brian TracyTweetable Topics:“The more tools you have in your toolbox, the more projects you can take on.” (Tweet This!)“This is going to be the last time I make this mistake because I’m going to learn from it.” (Tweet This!)“It doesn’t matter how many things you’ve done; there are always things that could happen.” (Tweet This!)Connect with CharlieCharlie’s BiggerPockets ProfileCharlie’s Company Profile