After growing up in the south suburbs of Chicago, Kirby served 11 years on active duty in the U.S. military, first attending the United States Military Academy at West Point and then traveling the world as an officer in the Army. During his time in the service, he developed a strong interest in real estate entrepreneurship. He began studying and reading as much as he could on the topic, and he bought his first rental property in 2006. In 2011, he left the service and earned his MBA with a focus on real estate finance. While attending graduate school, he started his first real estate investment company, rehabbing over 100 properties either to flip or keep as rentals in the Chicago area. Today, Kirby's passion and only focus is investing in high-cash-flowing vacation rental properties and helping others do the same. In today's show, we discover his method on how to find deals, know how much to pay for them, where to find money for the down payment (this will surprise you!), and what pitfalls to avoid if you choose to use this great strategy! Regardless if you are just starting or just looking to add a few more thousand of monthly cash flow to your life, this is a great listen!
Outline of today's show:
0:00 Start.
1:35 Introduction of our guest.
6:38 The importance of knowing how to build wealth.
9:02 The importance of living by your own values.
14:08 Identify the outcome that you want.
18:47 Building two duplexes in Port Charlotte, florida.
20:41 The ideal location for a short-term rental.
26:29 How to work with a listing agent.
32:46 How to get a second lien.
38:07 Taking action on your real estate.