Which Investment Property to Buy With Nathan Brooks
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Nathan Brooks made a living as a musician for nearly 20 years, playing at bars until the early hours of the morning before performing at church on Sunday. Although he enjoyed the experience, it was challenging to earn a good living in the music industry. Nathan then became obsessed with real estate and began flipping houses despite having no prior experience. Unfortunately, this venture did not go well, especially with the housing market collapse, and he filed for bankruptcy in 2009. After several years of working to rebuild his credit, Natha started again in 2012, and in 2015, he founded his own company, Bridge Real Estate Investing. This company focuses on new construction and Airbnb rentals. Having utilized books as a low-cost, high-impact tool to success, Nathan decided to write his own book titled "No Quitter\'s Guide\\u201d.
Work-life balance is essential for Nathan, who values spending time with his children. He\\u2019s also interested in plant medicine and has done extensive work on his own personal trauma. Nathan believes that everyone has trauma, and it is crucial to stop the cycle and evolve as a person. He believes that owning up to mistakes and apologizing to children teaches them valuable lessons about how we all make mistakes and can learn from them.
Nathan has been in the Airbnb space for a while and has bought and sold approximately 30 properties. He currently owns around 15-20 properties but cautions that the market is currently challenging due to many people having the same idea. Interest rates are also higher than they were previously. He prefers to buy properties in areas he loves, and he has properties that net $30-40k a year after expenses. He recommends purchasing a handful of properties in your local market that generate high cash flow and then one reward property that may not cash flow as much.
Nathan\\u2019s ultimate goal is to be worth $30-40 million and be able to donate half of his net worth to philanthropies, specifically those that focus on arts and education. He is passionate about helping kids succeed in their musical or artistic journeys and sees making a huge impact as the ultimate goal.
Nathan believes that having a clear vision is essential to success. He compares this to being a sniper in business rather than a machine gunner. He also believes that building relationships and asking how you can help others is key to success. He advises asking for what you want and being prepared to receive it. Finally, he stresses the importance of hard work and being willing to step outside of one\'s comfort zone. Nathan is passionate about being a student, always learning, and growing. He acknowledges that people may only see the final outcome of others\' success, but it is essential to do the work and put in the effort to achieve it.
What You\\u2019ll Learn:
- How to build a life you love.
- The difference between home equity line of credit and cash out refinance.
- How to calculate how much equity you can take out.
- What the BRRRR method is with house flipping.
Favorite Quote:
\\u201cYou don\\u2019t have to go to prison to be in your own prison.\\u201d -Nathan Brooks
Connect with Nathan:
How to Get Involved:
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For more on how to grow your business, check out this episode.\\xa0
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