About this episode
Clay White has done the seemingly impossible. He’s bought five rental properties , completed multiple flips , and done it all in the past fifteen months with high mortgage rates. To make it more impressive, he did it WITHOUT a W2 job at just twenty-three years old! So what sets Clay apart from ninety-nine percent of other investors? As you’ll hear in today’s episode, he went through an almost comical amount of failures , but how he solved them makes him an elite investor. If you think you missed the boat on real estate investing , Clay proves that you couldn’t be more wrong. He not only built an entire rental portfolio in one of the most challenging times to invest but did it with no consistent income , no experience, and in a market you’ve probably never heard of. If you can follow Clay’s advice, mimic his ingenuity and tenacity for problem-solving , and are willing to put up with small failures to achieve massive success, you, too, will be able to build serious wealth, no matter your timeline, no matter your age, and no matter your job. In This Episode We Cover: How to invest in real estate even if you’ve got little money (and no job!) Returning a house after you bought it (yes, you can do this!) Why bringing in a partner is an excellent idea for your first real estate investment Clay’s straightforward solution when you can’t find the right licensed contractor Cash-out refinances vs. HELOCs and when to use each to pull out equity Why you should always overestimate your home renovation costs And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Learn How to Flip Houses with “The House Flipping Framework” Find Investor-Friendly Lenders The Rookie’s Step-by-Step Guide to Home Renovation Projects Connect with Clay Connect with Henry Connect with Dave (00:00) Intro (01:04) Refusing To Get a 9-5 (04:23) Buying (and Returning!) a House (07:58) Home Run Second Deal (12:54) Rebuilding a Duplex (16:52) Using Equity to Flip a House (26:38) Final Flip Numbers (27:49) A Flip Goes Wrong…Again (31:04) Financing Deals (33:13) Buying Even MORE Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1042 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