The BRRRR Investor Podcast
The BRRRR Investor Podcast is a dynamic resource for aspiring and seasoned real estate investors, focusing on the Buy, Rehab, Rent, Refinance, Repeat strategy to build generational wealth. It offers expert insights, practical advice, and real-world examples to guide listeners through every step of successful real estate investing.
The BRRRR Investor Podcast
Starting Real Estate Investing at 26: Esha's House Hacking Journey
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Welcome to The BRRRR Investor Podcast! In this episode, Alex Nahle interviews Esha, a 26-year-old software engineer and new real estate investor.
- Esha's inspiration and journey into real estate investing
- The importance of networking and education in real estate
- Key steps and resources Esha used to prepare for her first property purchase
- The benefits Esha gained from attending community events and meetups
- Specific strategies Esha used to finance and select her first investment property
Thank you SO much for stopping by! I appreciate you!
💰Subscribe to my YouTube channel: https://www.youtube.com/@TheNahleGroup
Check out our next Real Estate event here - https://shorturl.at/jEO46
Grab your FREE SOP for analyzing deals here: FREE SOP
Welcome back to the BRRRR Investor podcast.
Where our mission is to empower aspiring.
Real estate investors in their journey towards building generational wealth.
So on today's episode, we have Esha with us. Isha is a working professional and a new homeowner and a new investor. So I recently helped Isha through the process of buying her first home and her first investment as a house hack. And she was very kind to be here with us so she can share a little bit about her journey and how that went about. So thank you for being here, Isha.
Happy to be here.
Awesome. So let's start off by sharing a little bit about yourself and what inspired you to start your journey into real estate investing.
Yeah, so I currently work as a software engineer. I'm 26 years old. So, yeah, got into it young, but, yeah, I definitely have been wanting to get into real estate investing for a while now. I think I first started looking into real estate investing probably during COVID because I was unemployed. I had nothing better to do with my time. So started researching and just kind of educating myself on what it means to kind of get into real estate investing, looking at the different avenues, whether that's house hacking, flipping, buying and holding, whatever that looks like. And yeah, I just knew that I wanted to get into this at some point in my life to create generational wealth for myself and, like, for my future family and for myself, my parents. And, yeah, I was just really excited to kind of rip off the band aid this year. That was, like, one of my goals was that I buy my first property, and I was able to do that with your help. So, yeah, I'm just super excited to finally be a part of the real estate investing group.
That is awesome. That is, like, so awesome. And it wasn't easy, obviously, as you've experienced now. And, you know, I think we've. I let you know from the beginning that, you know, it's not going to be, you know, it's. There's gonna be challenges along the way, but, you know, I'm there with you to help you out. But one of the most important things I want to highlight is 26 years old, so. And, you know, I meet a lot of aspiring investors or people that want to eventually get, you know, start investing in real estate. And one of the biggest, you know, setbacks or challenges that they have is the age. Right? You've just proven it that there is no specific. There shouldn't be a specific age when you should get started, right? When what is a good age to be appropriate? It's like you get started when you get started like you know, yesterday. Right. So that's awesome. 26 years old. Kudos to you. That's amazing.
Thank you.
Big accomplishment. And you know, when you did start, you know, thinking about that, what are the first steps that you took, you know, when you decided you want to purchase your first property?
Yeah, I think for me, like before I knew I was like, you know, financially ready to commit to this, it was, I need to make sure that when that time comes, I am very well prepared to know what I'm getting myself into. So I spent a lot of time just looking, listening to different podcasts, watching YouTube videos. I joined Bigger Pockets. It's a forum for like real estate investors, agents, whatever, just to network with other people. And yeah, I think that was super helpful for me because I also use the forum to ask questions I had and I think that is super important is to just ask questions because there's so much knowledge out there and like you can watch as many podcasts and videos, but actually interacting with people who are investors and like picking their brain, I think that was something that really helped me. So, you know, going to networking events and putting yourself out of your comfort zone because I think even for me, like, I don't like situations or environments like that where, you know, I have to be like outspoken and extroverted. But I had to do that because I knew that there's a certain goal that I wanted to reach. So just educating myself as much as possible, researching, making sure that I'm well prepared in all aspects and building a good team around myself and building my connections and my network. So I think getting as much knowledge as possible is important, but also making sure that you're creating good connections like people that you trust and you know that they have the best interest for me and they're looking out for me. So I think that was something that was really important to me. And even with the networking events, I was able to meet other people that were either around my age or maybe not my age, but were also first time investors and kind of bouncing ideas off like, okay, are you thinking of house hacking? Are you doing out of state investing? How did you come to, to this decision? And just kind of networking and connecting so that I can just learn more about like why certain people take. Because there's so many routes you can take with investing. So just learning about, okay, what's the best route for me to take? Is it house hacking? Is it flipping? Is it an out of state investing? So just, yeah, just Talking to people, asking lots and lots of questions, and just exposing yourself to as much knowledge as you can.
And that's a great thing you point out, is that there's many ways, many good approaches or, you know, paths in real estate. And a lot of people get stuck with wanting to do everything rather than just really figuring out what is the best for you. Right. And that's one thing I, you know, I think you did very, very well. And also, you know, people get stuck just analyzing, analyzing, talking to people, but they never take action.
Yeah.
So taking action was crucial. Right. And, you know, being proactive. So that's, that's also cool that, you know, you started looking into it before you were even financially ready because you wanted to wait when you are ready to do it financially. Okay. You want to be able to be prepared with everything else. Right. So that's awesome. And you did mention about, you know, some of the resources that you found helpful, such as, you know, meetups and events, podcasts, Bigger Pockets. Bigger Pockets is an amazing, you know, platform, amazing community. I'm also a Bigger Pockets member. I, you know, there's a lot of knowledge there, a lot of help you can get, a lot of resources. So that's awesome. And I think that's how you found out about our event.
Yes. Yeah, I found the event through Bigger Pockets and it was right by my house, so I was like, I might as well just, you know, pop in, stop by. And that was such a life changing event for me to go to because then I met you and you, you know, really helped me, kind of get me through the finish line and kind of get me my first property. So that was awesome. Yeah, Bigger Pockets, you know, shout out Bigger Pockets.
Absolutely. Yeah. So. So you found us on Bigger Pockets. You came to our event. We do host two events every month, and you've been to both of them and you've been consistently. And we really appreciate that. We initially met at the Studio City event, so we have two events. One of them is the last Monday of every month. It's at the Laurel Tavern in Studio City. And then the other one is in Pasadena, California at our office. And that's the first Tuesday of every month. They're both at 6:30pm Check out our links or reach out if you have any questions and you want to join us. And they're on Eventbrite, so you can check out our Eventbrite page. So you feel that that was helpful for you, that gave you some value, provided you with the next steps?
Yeah, definitely. I think the Laurel Tavern one, because that was the first one that I went to. I think that one was very helpful for me because it was more just kind of like networking, talking to different people. And I was able to meet another young woman who was also trying to get into real estate investing on her own and trying to figure it out. So we were actually messaging a lot and trying to figure out. I was telling her, okay, I think I'm gonna do house hacking, kind of just picking each other's brains because I think you kind of need that support. And it feels comfortable knowing, okay, I'm not the only one that's trying to do this. I'm not the only one trying to figure this out. But I was also able to meet other investors who have purchased properties, whether that's out of, whether that they've purchased properties in California and like rent them out, whatever the case is. Wholesalers like so many different types of people. So I think that was a great place for me to kind of start building like my network and my connections and really meet some really amazing people. What I found really helpful about the event here with Compass was just that there's so much information. So it's always different speakers about different topics. So I think I really appreciated that because it's not only helping me set up myself for success, like present day, but also for the future, like when it comes to like a self directed IRA or like tax benefits, like things like that, that I haven't had that exposure to, I haven't had that knowledge to, because I'm not in that place yet. But eventually I know that I will need all these resources and this knowledge. So it's just setting me up for success for my future self and my future investment properties as well. So yeah, I think both events were really great for me to, you know, go like mingle, network and also just learn so much.
So you mentioned, you know, community. It sounds like community is a very important thing to be a part of when you're, you know, on this path. Right. And having the right team because it's not you doing it on your own. Right. You need the right team. And now you witness it firsthand how, you know, having the right, you know, team, the agent, investor friendly agent, having the right lender that knows your situation financially and your goals and kind of everybody working together to get you there. So that's a great point. So having the right team in place is crucial.
Yeah. And I think, you know, I got very blessed to be able to meet you and like get the right team surrounded because you helped me even, you know, get connected with like one of your certified lenders. And I was able to kind of get like such a great deal to the point where I wanted to go in with as little of my own money as possible. And you know, we talked about doing low down payments and you ended up helping me get like seller's credit and all this other, like lowering the purchase price, which helped me kind of almost put down like 1% down payment, which unheard of. And that is just so amazing and such a great deal. So I think definitely having the right team is so important and such a crucial aspect in your journey because without your help and without you connecting me to different people, I wouldn't have been able to get this great opportunity and this great deal that I did. So that's awesome. Definitely thank you for that.
Of course, much appreciated. And I appreciate you for, you know, trusting me and my team to help you with the process. You know, would you be opposed if I share a little bit about, you know, your purchase and you know, how it went about and so forth? Because some people may be wondering, okay, it's an investment property. What is a house hack? And you know, how did she put, you know, that low down payment and it's investment price. So a house hack. You know, obviously it's a property she purchased as a benefiting from the low down payment as a primary residence. However, she's going to be living in the property and adding value, converting the garage to a livable space and you know, being able to live in one of the units and rent out the other and have someone else, the renter, offset her mortgage and also, you know, gain from the appreciation of the property. So initially you went in, you wanted to put, you know, you're very specific about wanting to put about 5% down. You got the pre approval and you know, we did the numbers and your purchasing power around that. And then, you know, we found a property that was in an awesome area, great neighborhood, very safe, because we wanted to take into consideration you're living there. Right. And you know, we were able to go through, do our due diligence, do the inspections needed, and we were able to negotiate about 22,500 in seller credit and also a price reduction. This way, you know, again, as you mentioned, instead of putting 5% down out of pocket, you're pretty much putting about 1% down. So that's cool.
I know, it's pretty cool. It's amazing. I was so ecstatic, you know, just to see everything, like how it played out yeah, it was just really amazing.
That's awesome. So can you share, Talk a little bit about some of the people, you know, the key people that you met along the way and how they influenced or assisted you in your journey?
Yeah, I feel like, for me, it was a lot of just going to different events and meeting different agents. I think before I actually started, like, you know, looking for properties, I wanted to make sure that I was working with an agent that I felt really comfortable with and that I really trusted. So I had met a couple other agents and I was talking to them a little bit, and, like, you know, we would have, like, the collections and I would see those, but it wasn't as much as, like, engagement as I feel like I needed. I kind of needed, like, someone to hold my hand through this process because I've never done that before, and like a mentor. And I think you were such a key person in my journey into real estate investing. You know, I was even able to go to some of your projects and kind of see like, what that's like and see, you know, behind the scenes before I kind of got into it. So I think that really helped me of kind of following someone and like, having almost like a mentor to kind of guide me through it. Because buying a home, whether it's, you know, your first home that you're going to live in or an investment property, regardless, it's a really. It's very scary. It's, you know, it's a lot of big numbers. So I think for me, definitely having a good, solid team, like, you know, good agent, good lender, also, like, support system in terms of, like, who I'm surrounding myself with in an investor mindset. Like, I wanted to have people around me that weren't just thinking about, okay, like, she wants to buy a house, but she wants to buy a house as an investor. Things like that were important because I needed someone who had more knowledge than I did about where can we add value, how can we strategize this to reconfigure, maybe add a shower, maybe make this a separate unit, maybe convert the garage into an adu. So just having the right network that can understand that was, I think, very important. And I think you were definitely one of the biggest people that I met to help me in my journey.
And I can't really stop myself from, like, when I walk into a property, just start seeing the opportunities, the different things you can do with it. And, you know, as you mentioned, you don't want somebody that's just looking to get another Transaction. Right. To close a deal, to make a commission and walk away. Right. And, you know, sometimes, and I appreciate you, you know, you really were very open and honest with me, trusted me with in many different ways. Like, I did have to put like a therapist hat on. Right. You had certain, you know, things come up like anybody does, and you were, you trusted me to talk to me about it and we were able to walk through it. And I think in any, you know, client, professional relationship, that's crucial.
Right.
You know, we both have to be open and honest with each other to be able to get you to the finish line.
Yeah, exactly.
So, you know, you had a lot to do with everything that was done and, you know, you're an awesome client. I really appreciate that.
Yeah.
So what particular advice would you give someone who is just starting out and looking to purchase their first home or like investment property?
I would say just network. Like networking is so important. Like, obviously, yes, the research and the knowledge and getting the information. I think that's a, everyone needs to do that. That's kind of like a given. You need to know what you're getting yourself into and make sure that it's the right path for you. But once you're at the point where you're like, okay, I know I want to do this, I think the biggest thing you can do as a first time investor is just networking and picking everyone's brain and be annoying. Ask as many questions, you know, like, I'm sure, like, I've asked so many questions that I was probably like, and I'm shy. Like, I don't like asking questions, but I knew that in order for me to make sure I'm making the best decision for myself and I know what I'm getting myself into, like, I had to be annoying. I had to be, you know, asking all these questions. Because I'm sure all first time investors have the same questions. They're going through the same fears and anxiety and feelings. So asking questions is the only way you can kind of minimize that anxiety and that fear. And like, you need to make sure that you're very confident about what you're doing before you buy your first property. Because obviously you're going to have doubts and questions like, okay, is this going to be successful? Am I doing the right thing? But if you have the right network around you, that anxiety will start to kind of die down and you'll start to be more excited about it and be more excited about what's going to come with this. Like, okay, this is a very transitional phase. In my life, like me buying my first property. This isn't just, okay, one property and it's done. It's going to be, I'm multiplying this into multiple properties and I want to keep the same network that helped me get this first property. And having that good network is so important so that you can kind of keep continuing to multiply what you have over and over again with that, you know, network that you've now built this trust with. So, yeah, I definitely think as a first time investor, like, do your due diligence, do your homework, do your research, listen to the podcast, do all of that, but also put yourself out of your comfort zone. Go to networking events, talk to people, just pick anyone and everyone's brains. Because there's just so like all the knowledge that you see online, it's very helpful. But I think the most valuable knowledge you can get is just by having conversations with people that have already done this or even people that haven't done it, because then you can kind of get an idea of like, what, why they haven't done it. Exactly what's holding them back. Yeah, so I think, yeah, just networking.
Talking to people and of course calling Alex and his team.
Yes, of course, you know, Alex is the best.
So, so, you know, now, you know, going through the process. One thing I want to mention, like, do you feel that, you know, working with someone that really has done it themselves, like is an investor friendly realtor and, you know, actively is investing as well, do you feel that also contributed to your success and what you were able to accomplish? Did that help you get through the process better or what do you think?
Yeah, no, definitely.
Because I know you talked to many agents as you.
Yeah, I did talk to some agents that were, you know, mainly agents that were just helping, you know, families or anyone just buy like their first property, but not with an investor mindset. And I definitely saw a very huge difference in that. Like talking to agents that are investor friendly, that do invest themselves, they have the investor hat on. They know, okay, this isn't a, this isn't my forever home. Like, I'm not buying this house to be like, okay, I want to live here, raise a family, have kids, whatever. I'm buying this property as a way of leveling myself up and creating this generational wealth and knowing that it's going to be something that I want to add value to, that's going to appreciate. So they have a different hat on than an agent that isn't so much into real estate investing and has done the Investments themselves. I think another great thing about working with an investor friendly agent is they know the risks, they know the fears, they know how to kind of help you through that process of minimizing that fears. Because even just working with you, I remember I called you and I was going through some personal issues and I was like, I don't know if I should do this, maybe we should slow it down. And I think you gave me that confidence and that push of why this is the best time for me to do this and kind of reassured me that, you know, I'm in a position that I can be successful in this. And I think another agent is not going to understand that like what an investment property means, like, or how scary that can be because anyone else that's just buying a house because they, you know, want to get their first property, their first home, and that's their forever home, they have a different mentality and a different mindset. But I think working with an agent that does have investors properties is very helpful because they can kind of guide you through what type of properties to be looking for. What, like, things to keep in mind, like whether that's locations, school districts, what's nearby, grocery stores, transportation, things like that, where you don't necessarily have those certain conversations with other agents that don't have that hat on. And I definitely experienced that with talking to other agents that weren't as investor friendly.
Fear, uncertainty, doubt. It's a real deal and you're gonna go through it and you know, some people again are just gonna push you to get the transaction, you know, But I felt like, you know, if it was, if I felt like, you know, hey, this is not the right time for you, I would have done that. However, I knew what you were dealing with were, you know, things that were distracting you from your main goal. So. And I'm glad you were able to overcome that. So looking back, is there anything you would have done differently and what are your future plans in real estate investing?
Yeah, I think looking back, I wish I could have just gotten into sooner, honestly. Yeah, I wish I kind of didn't allow my fear and my anxiety to kind of get me to a point where it took me so long to get here because I think I could have gotten into it earlier, probably with lower interest rates, but it's okay. But yeah, I think I would have just gotten into it earlier, just gone to more networking events and things like that, like earlier than I did. But at the same time, like, everyone has their own path and their own journey and I think I had to get myself to a position where I felt very confident to actually do this. And I felt like, okay, that, you know, I can do this. But yeah, for the future, like, just keep buying more investment properties. Whether that's continue to house, hack after this one or whether that's, you know, buy, flip, rent it out. I don't know what my next property will look like, but I know this is the first of many, so I don't think that I will stop after, after this one. I'm definitely going to multiply it into, you know, start get an S corp, like, put it in a trust, you know, like, do definitely want to level myself up into having multiple properties and continue into investing into real estate for sure.
That's awesome. The journey is, you know, you know, there's a big journey ahead for you and you know, again, I really appreciate you coming out on your busy day to do this because I feel this is going to provide a lot of value and maybe help someone take initiative, take action. Someone that's probably listening to this is probably saying, if she can do it, why can't I? And that's the truth. We all can do it. And you do need the right help, the right support, and someone to understand your situation, not just a general situation to help walk you through. So I think this is very, very beneficial. I appreciate you agreeing to talk about the journey and your experience. It's really going to be helpful. So thank you so very much and you know, I look forward to the next journey ahead.
Yes. Continue to work with one another. So yeah, marathon's only beginning.
Absolutely. Thank you. Thank you.
Thank you.
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0:01 - 22:20
Thank you all for joining us on the BRRRR Investor podcast. If you found today's episode helpful, please hit like and subscribe to our channel for more real estate insights. We love hearing from you, so please leave your thoughts, questions or topics you'd like us to cover in the comment section below. Be sure to check out our website, theburinvestor. Com, and follow us on social media at theburinvestor. Keep learning and investing and we'll see you in the next episode. I'm your host, Alex Nale. Stay invested.