440: How a 25 Year Old Bought $1M of Real Estate in 1 Year with Daniel Iles - a podcast by BiggerPockets
from 2021-02-04T07:00
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 investors
- How Alaska real estate compares to continental United States real estate
- Securing houses with low or no money down
- Using equity in a house as the down payment
- Why small banks and credit unions may be more flexible when funding deals
- What Daniel looks for in his rental properties
- Tenant management systems for simpler investing
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Bookstore
- TikTok
- BiggerPockets Podcast 407: Buying 100+ Houses/Year in 4 Hours/Week Using Teams, Traction, and (Get this…) TikTok with Ryan Pineda
- Zillow
- Realtor
- Craigslist
- TenantCloud
- Tim Ferriss
Check the full show notes here: http://biggerpockets.com/show440
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Further episodes of BiggerPockets Real Estate Podcast
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