YFP Real Estate Investing 64: How One Pharmacist Bought 10 Rentals in His First Two Years
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Tyler Dalton, PharmD, shares his real estate investing experience, how he purchased 10 houses in his first two years as a real estate investor, and how he continues to grow his portfolio toward the ultimate goal of replacing his pharmacy salary.
Key Points From This Episode
- Tyler\\u2019s background: how he got into both pharmacy and real estate.\\xa0
- Why he chose real estate and his passion for it.\\xa0
- How our guest found success after his ambitious start in real estate.\\xa0
- Using hard money lenders and investing without putting up capital.\\xa0
- Tyler explains what a hard money lender is.\\xa0
- Why he chooses to buy \\u2018fixer-upper\\u2019 properties.\\xa0
- What Tyler learned in the process of flipping houses and what he would do differently now.
- The importance of comprehensive property analysis and vetting contractors.\\xa0
- Correlations between location and price point.\\xa0
- How our guest was able to manage so many properties while being a full-time pharmacist.\\xa0
- The type of work that needs to be done to successfully flip a house.\\xa0
- Discussing the time value of money.\\xa0
- How to approach with caution and recognize the warning signs of an untrustworthy contractor.
- Some tips on how to find the right contractors.\\xa0
- Why Tyler says that project number 10 was much more efficient than the previous nine.\\xa0
- Why he decided to switch to short-term rentals and a breakdown of the 1031 exchange.\\xa0
- How to boost your cash flow and multiply it by 10.\\xa0
- Insight into Tyler\\u2019s five-year plan.\\xa0
- Parting words of advice from our guest and a podcast that inspired him.\\xa0\\xa0\\xa0
Links Mentioned in Today\\u2019s Episode
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