Believe it or not, TikTok isn’t just teenagers doing dances; there are actually some pretty influential investors on the platform. Meet Daniel Iles, a TikTok and Youtube creator who bought a staggering $1,000,000 in real estate during his first year of investing. Daniel was able to amass this serious sum of real estate while only putting $23,000 down. Now that’s impressive!
Due to an aggressive goal of reading 60 books a year, Daniel picked up a book that many of our listeners have heard of, Investing in Real Estate with No (and Low) Money Down from our very own Brandon Turner. This unlocked the potential of investing in real estate for Daniel. He took advantage of FHA loans, using equity as down payments, and building his credit to get loans from small credit unions and banks.
Daniel now owns 9 units and a combined valuation of almost $1,500,000, still with almost no money down. Daniel stresses that his success comes from systems. Whether it’s systems about credit cards, loans, tenant management, deal analyzing, or anything else related to real estate investing, systems are the key to keeping your sanity when things go wrong.
He also has some tips for new investors trying to acquire a lot of real estate, in a small amount of time. Creating these systems for scaling will allow you to make smart decisions and invest in a way that doesn’t push you to burn out.
In This Episode We Cover:Using TikTok as a creator, not a consumer, to connect with influential investorsHow Alaska real estate compares to continental United States real estateSecuring houses with low or no money downUsing equity in a house as the down paymentWhy small banks and credit unions may be more flexible when funding dealsWhat Daniel looks for in his rental propertiesTenant management systems for simpler investingAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreTikTokBiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan PinedaZillowRealtorCraigslistTenantCloudTim FerrissCheck the full show notes here: http://biggerpockets.com/show440