From $40K Debt to 4 Rental Units (Using ZERO Of His Own Money!)

Owning multiple rental units with no money? While it might sound ludicrous, there are several ways to do it. Money shouldn’t be the barrier preventing you from getting into the world of real estate investing. In fact, many people have been able to turn around their own fortunes by using other people’s money (OPM)—today’s special guest is one of them!

In this episode, we chat with Mike Larson, who found himself in this type of situation only a few years ago. Trapped in over $40,000 of consumer debt and living paycheck to paycheck with zero savings, Mike decided that real estate was going to be his escape rope. Over the next year, he eliminated as many bills as possible, tracked all of his expenses, and worked tirelessly to supplement his W-2 income. Today, Mike owns four long-term properties, has amassed a multiple six-figure net worth, and lives the real estate rookie’s dream by the beach.

Tune into this episode for a classic, feel-good, rags-to-riches story. Mike shares about his real estate investing journey and provides all kinds of helpful tips—including the steps you need to take to fast-track your real estate career, how to use other people’s money to secure your first investment property, and how to get private money lenders to come to you!

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Join BiggerPockets for FREE 👇
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Join the Real Estate Rookie Facebook Group:
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Find an Investor-Friendly Agent in Your Area:
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$900K in Real Estate at Age 17 by Doing What 99% of Teenagers Won’t (Episode #271):
https://www.biggerpockets.com/blog/ro...
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Grab the Book on “Investing in Real Estate with No (and Low) Money Down”:
https://store.biggerpockets.com/produ...
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The Newbie’s Guide to Wholesaling in 7 Simple Steps:
https://www.biggerpockets.com/blog/ne...
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Make Cold Calling Easy with Mojo Dilaer:
https://www.mojosells.com/
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Connect with Mike on Instagram:
Personal: @larson910 or   / larson910  
Valiant Acquisitions: @valiantacquisitionsllc or   / valiantacquisitionsllc  
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/e...
Tony: https://www.biggerpockets.com/users/t...

Episode #275

Show notes at: https://www.biggerpockets.com/blog/ro...

00:00 Intro
03:15 Changing His Money Mindset
10:46 Vending Machine Cash Flow
20:03 Buying the First Investment Property
26:15 Finding Private Money Lenders
30:42 BRRRRing a Distressed Property
36:10 Mike’s Portfolio (and More Deals!)
45:17 Rookie Request Line
47:41 Rookie Exam
49:57 Connect with Mike!