46: How an “I Don’t Want to Invest” Couple Became Successful Long-Distance Landlords with Annie and Trey Johnson

Jan 13, 2021

Ask episode

Chapters

Transcript

Episode notes

Most rookie real estate investors want to hit a home run on their first deal, Annie and Trey Johnson did it completely on accident. Neither of them were interested in being landlords or real estate investors, but after they made six figures profits on their first home, they realized there was real money in the real estate game.

Annie and Trey were looking for a home to raise their family in. They found the perfect plot of land which had a new manufactured home and a scenic view. After living in the home for a few years they decided to move elsewhere to be closer to family, and instead of selling it, they decided to rent it out for a year.

Now they were landlords by accident, and as the money started to flow in every month they questioned “is this something people are normally doing to make money?”. Fast forward a year, they subdivided the land, sold the home, and walked away with profits exceeding $200,000. Not bad for a couple of rookies!

Annie and Trey now invest out of state, building up their real estate portfolio by rehabbing inexpensive homes. They’re so into real estate, that Annie even hosted her own socially-distant meetup during 2020!

This investor couple walks through their keys to success, the players on their team that make the biggest difference, and how they went from just homeowners to real estate investors!

In This Episode We Cover:

How to use your primary home to make more money
The ability to cash flow using ADUs and mother-in-law suites
How to parcel out lots of land to sell them separately (and make more money!)
Why writing a “love letter” may be a good move when submitting home offers
How a good or bad property manager can make or break your long-distance investing
What to do when there are no meetups in your area (or COVID has limited them)
The best advice for new rookies who are looking to find their first deal
How to find funding for your BRRRR
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/rookie46

Learn more about your ad choices. Visit megaphone.fm/adchoices