Would you like to know how to take a 3 bed 2 bath home that rents for $1,700 a month and make it generate $3,100 a month? And would you like to know how to automate the management of that property (plus 3 others) so you can continue to work your full-time job? In today’s podcast, full-time pharmacist, student housing investor and educator Ryan Chaw shares his secrets for generating $10,755 a month from 4 houses that he will own mortgage-free in just 4 years.
Ryan Chaw is a full-time pharmacist, who graduated with a Doctor of Pharmacy degree in 2015 at age 23. Early on, Ryan was inspired by his grandpa who bought 3 properties in the Northern California Bay Area and later achieved financial independence for himself, as well as being able to help cover college tuition for his grandchildren. Ryan bought his first property in 2016. It was a single family home at his local college. He rented out the house, per bedroom, and renovated the house to add extra bedrooms, thereby increasing his rental profit. He later repeated the same process for each property he purchased, buying 1 property each year. All while working full-time. He then optimized his portfolio by creating a system for getting consistently high quality tenants, managing the tenants, and decreasing expenses through preventative maintenance. Today, he is generating $10,755 per month in rental income.
DISCLAIMER: Many of the above strategies take knowledge and have a higher degree of risk. You need to do your research and/or work with someone who is experienced to reduce your risk.
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