About this episode
Think you need to be a hands-on landlord, do your own renovations, or sacrifice time with family to invest in real estate ? Think again! Today’s guest is making “passive” income and building long-term wealth with just four rentals — without swinging a hammer or fixing a single toilet. In this episode, he’ll share the secrets to a profitable real estate portfolio that virtually runs on autopilot! Welcome back to the Real Estate Rookie podcast ! When Mike Buska realized his home state of New Jersey was outside his budget, he turned his attention to a Midwest market hundreds of miles from home . But rather than trying to self-manage rental properties from afar , he poured his time and resources into smart deal analysis and assembling the right team . By committing most of his spare time working on the business rather than in it, he’s been able to scale quickly to four cash-flowing rentals ! In this episode, Mike will walk you through the exact steps he took to build a full-fledged real estate business in another part of the country—from picking a market and working with local lenders to creating systems and hiring a property manager you can trust to take care of the day-to-day! In This Episode We Cover Why you DON’T need to quit your nine-to-five to build a profitable rental portfolio How to choose a market that delivers a mix of long-term appreciation and cash flow Building your investing team from scratch (even in a market you’ve never visited!) Why the stability of long-term rentals beats the cash flow upside of short-term rentals Must-have systems and processes to create for each rental property The tax blunder that cut Mike’s projected cash flow in half (and how to avoid it) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-593 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com . Learn more about your ad choices. Visit megaphone.fm/adchoices