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#240: Flipping Your Way Out of (Student Loan) Debt & the Transition to Rentals with Brentin Hess
August 17, 2017
79 min
Financial debt (like student loans or credit cards) is irritating, expensive, and flat-out dangerous. But you don’t have to be stuck paying the minimum payments for decades like most Americans. Today, we’re excited to introduce you to Brentin Hess, a young investor who “flipped his way out of student loan debt” and has already been able to quit his job thanks to his real estate investments. You’ll learn how Brentin used a partnership to begin his house flipping journey, as well as the mistakes that cost him time and money in the beginning. Brentin is incredibly inspiring, so take time to listen to this entire episode—and prepare to have a fire lit beneath you! In This Episode We Cover:Tips for getting into real estate at a young ageBrentin’s experience of having a real estate license at 19 years oldHow his first partnership came to fruitionHow to deal with contractors when you’re youngThe details of his first dealTips for leveraging capitalWhat exactly a Guidance Line of Credit isThe importance of building relationshipsWhy he shifted from flipping to rental propertiesHow he financed a multifamily dealTips for finding the right partnersWhen you should consider the rent as stabilizedHow he quit his jobThe story of how Gary Vaynerchuck was a guest for his eventAnd SO much more!Links from the ShowBiggerPockets ForumsHow to Achieve Greater Success by Doing Less with Devin ElderAchieving Financial Freedom at Age 32 with Austin FruechtingA Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal ElrodGary Vaynerchuk’s PodcastFrom “D-Student” to $400,000 in Annual Rental Property Cash Flow with David OsbornThe Journey From Flipping Houses to Owning 1,470 Units with Andrew CushmanHow Modeling Greatness Can Get You To 100+ Deals with Matt AitchisonOvercoming Inaction, Direct Mail, and Becoming an Successful Wholesaler with Tim GordonBrandon’s TwitterBooks Mentioned in this ShowRich Dad Poor Dad by Robert KiyosakiCrush It! by Gary VaynerchukThe Millionaire Real Estate Investor by Gary KellerHow to Make Big Money in Small Apartments by Lance EdwardsChange Your Habits, Change Your Life by Tom CorleyThe 7 Habits of Highly Effective People by Stephen CoveyFire Round QuestionsWhich mortgage should I pay off first? Rental or my own?Credit card to fund renovations—lots of questions!How can I avoid the mistakes that YOU made?Tweetable Topics:“A lot of people who are into real estate sales don’t even get into investing.” (Tweet This!)“Flipping is transactional.” (Tweet This!)“Time is a finite resource.” (Tweet This!)“Life is boring if you’re not being creative.” (Tweet This!)Connect with BrentinBrentin’s BiggerPockets ProfileBrentin’s Instagram ProfileBrentin’s Facebook ProfileGoRecn
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