908: $400,000/Year From One Unique Rental Property w/Amanda and David Fornelli
Podcast: BiggerPockets Real Estate PodcastPublished On: Wed Mar 06 2024
Description: Want BIG cash flow numbers? How about $400K/year cash flow? Would that be enough to set you financially free? For Amanda and David Fornelli, this is reality, and it’s all thanks to one very unique rental property investment. And even though these numbers are massive, Amanda and David aren’t that removed from being real estate rookies. Just five years ago, they didn’t own any rental properties and were W2 workers just looking for a way to make some extra income. After finding themselves in a real estate investing program, this power couple began flipping any house they could get their hands on in Southern California. Within three months, David had made twice as much from flips as he did at his day job, so he quit, and the rest is history. Now, they’re full-time investors, still flipping houses, but ALSO running a multimillion-dollar boutique hotel that’s making them hundreds of thousands of dollars a year in profit. In today’s episode, Amanda and David talk about leaving their jobs to flip houses full time, how they slowly realized that short-term rentals beat the short-term profits of house flipping, why they’re still investing in high-priced Sothern California, and the massive cash flow they’re making off their very first commercial real estate investment—a small, but very profitable boutique hotel. In This Episode We Cover: Making $400K/year from an unconventional type of rental property When it’s time to quit your job and become a full-time real estate investor Using the BRRRR strategy to make massive wealth gains WITHOUT investing your own money How to mitigate risk when doing high-priced house flips (especially as a beginner!) Raising private money and how to buy bigger, better real estate deals without using your own cash Short-term rental vs. hotel investing and why you CANNOT treat these as the same assets And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Henry's BiggerPockets Profile Henry's Instagram Hear More From Henry On The “On the Market” Podcast Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube BiggerPockets' Instagram How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal Private Capital Explained: The 4-Second Pitch to Unlock Unlimited Funds w/Amy Mahjoory Stay At Yara Palm Springs - Instagram: @yarapalmsprings Stay At Yara Palm Springs - Website Connect with Amanda & David: Amanda Instagram: @_amandafornelli_ David Instagram: @davidjfornelli Portfolio Instagram: @nopali_properties Nopali Properties - Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-908 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
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