It doesn’t take long to** replace your income through rental property investing. Just ask Miller McSwain**, who quit his job two and a half years after buying his first rental property! But it wasn't a standard rental with just one tenant and one income stream that got him there. Instead, a new “mega cash flow)” strategy got him to his goal in record time. It’s not short-term rentals, mid-term rentals, or house flipping, but something that might work even better.
Miller was a nuclear rocket scientist by day (yes, seriously) and a house hacker by night. He bought a property just after graduation, using his job offer as proof of income to the bank. He and his fiancée (now wife)** lived in the basement** while** renting out the rooms) on the top floors**. He was saving tons on rent and living for almost free. So, why couldn’t he do this on a bigger scale?
He could, and he did. This** “co-living)” strategy** became Miller’s new obsession. Now, he’s got six rental properties with over 40 tenants, making thousands of dollars a month from each property in pure cash flow. He’s sharing exactly how to do it and does so in-depth in his new book, Co-Living Cash Flow)*, so *you can quit your job, or at least replace some, or all, of your income with the fewest properties possible.
In This Episode We Cover
**Miller’s “mega cash flow” strategy **that produces way more passive income than regular rentals
Exactly what to look for in the** perfect “co-living” property** for happy tenants (and neighbors)
The** “community” events Miller throws at his properties that lead to lower vacancy **
Discounting security deposits)? The method behind Miller’s genius tenant screening tactic
How to remotely manage co-living rentals yourself (no need to pay a manager!)
And **So **Much More!
Check out more resources from this show on BiggerPockets.com) and https://www.biggerpockets.com/blog/real-estate-1129)
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]).
Learn more about your ad choices. Visit megaphone.fm/adchoices)