249: House Hacking, Live-In Flips, and Investing Purposefully with Josh Daniels

Why do you want to invest in real estate? Is it just about having a lot of units—or is it about creating a life you can be proud of? On today’s episode of The BiggerPockets Podcast, we sit down with Josh Daniels, a real estate investor in Montana who, along with his wife Summer, has chosen to buy fewer but better deals on a quest for financial freedom. You’ll hear about Josh’s highly creative actions that turned their first deal into a cash-cow, as well as the shift to (and reason for) investing in single family houses. You’ll love Josh’s attitude toward financial freedom, as well as his message that you don’t need hundreds of units to be free. In This Episode We Cover:How Josh got started investing right out of collegeThe story behind his killer first rentalRental rates for this propertyHow they earned $80k on their next dealWhat exactly a live-in flip isHow they manage their propertiesA discussion on tenant drama in multi- vs. single-family propertiesJosh’s “why” in his investingHow to handle emotional attachment to dealsTips on financing deals through the BRRRR methodHis thoughts on Dave Ramsey’s advice for paying off loansAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Bookstore500k Net worth in 5 years (I’m 30 today!!!) (Forum Post)Dave RamseyFrom Shop Teacher to Multifamily Syndicator with Todd DexheimerBooks Mentioned in this ShowThe Millionaire Mind by Thomas J. StanleyThe Millionaire Next Door by Thomas J. StanleyBrandon’s Book on Rental Property InvestingThe Total Money Makeover by Dave RamseyFire Round QuestionsNew member – Looking for advice on getting startedHow many chances do you give a tenant who pays late?This house has no takersTweetable Topics“Ignore everything on the MLS. Drive every street and check out dilapidated properties.” (Tweet This!)“Life is not a competition.” (Tweet This!)Connect with JoshJosh’s BiggerPockets Profile