How to Use the BRRRR Strategy from Out Of State with Jin Lym

The Military Millionaire Podcast

Jun 4 2021 • 1 hr 9 mins

Episode: 144 Jin Lym Join your hosts, David Pere and Alex Felice, with guest Jin Lym as they talk about mentors, leveraging other people's expertise, and how Jin pivoted from flipping houses to doing rentals as a real estate investor. When Jin thought about the possibility of catering to a whole family and his parents in the future, he knew he needed to start gearing towards building generational wealth through real estate. Jin knew he needed to enter a specific niche of real estate investing to reach generational wealth and financial freedom. Thus, he got into rentals. From previously flipping houses in Hawaii, Jin moved to rentals to bring in residual income. In light of the topic, David, Alex, and Jin also discuss how this dilemma explains most people's fault when planning out a way of generating income. In this episode, listen as they talk deeper about networking, the BRRRR strategy, why turnkey assets suck and why they're good, and how investors can capitalize on their superpowers in order to jumpstart and gain an edge in the real estate business. About Jin Lym: Jin is a Marine Corps veteran and budding real estate investor. With a bachelor's in Information Systems and Operations Management from George Mason University, he has over seven years of professional information-technology experience, working with companies such as Rolls-Royce North America and Rackspace. Konea Capital was born out of Jin's passion for helping others and sharing knowledge, so starting a real estate investment fund focused on personal development and financial education was a natural thing for him to do. - Sponsor: Rentometer https://www.frommilitarytomillionaire.com/rentometer - Outline of the episode: ● [05:37] Everyone is going to have that origin story. ● [07:17] On finding mentors and incredible tractions. ● [10:56] It all boils down to your why. ● [17:19] The core problem of people when it comes to planning ahead. ● [20:59] Why turnkey properties suck. ● [30:00] Turnkey properties are good for those who… ● [30:46] The Glamorous BRRRR Strategy. ● [33:10] Leveraging people helps you avoid pitfalls. ● [47:45] People like to invest in other good investments. ● [47:49] Bring your talents and skills into business – find your superpower! ● [55:05] A good mentor only works if the mentee is good. ● [01:01:52] Your ultimate goal in life is your roadmap. Resources: Instagram: https://www.instagram.com/jinylim_/ Facebook: https://www.facebook.com/groups/1735593999901619/user/675920146 Biggerpockets Real Estate E-books: https://www.biggerpockets.com/files/search?category=ebooks Compare Your Rent With Other Local Properties with Rentometer: https://www.rentometer.com/ Follow Our Journey: Website: https://www.frommilitarytomillionaire.com/ YouTube: https://www.youtube.com/c/Frommilitarytomillionaire/ Facebook: https://www.facebook.com/groups/1735593999901619/ Instagram: https://www.instagram.com/frommilitarytomillionaire/ Grab your book copy of The No B.S. Guide to Military Life - How to Build Wealth, Get Promoted, and Achieve Greatness by David Pere: https://www.amazon.com/B-S-Guide-Military-Life-greatness/dp/1736753010 - Advice to an 18-20-year old: Have a “why” for everything you do. - Recommended resource(s): www.BiggerPockets.com - Sponsor: Rentometer https://www.frommilitarytomillionaire.com/rentometer - Real Estate Investing Course: https://www.frommilitarytomillionaire.com/teachable-rei Recommended books and tools: https://www.frommilitarytomillionaire.com/kit/ Become an investor: https://www.frommilitarytomillionaire.com/investor/ - SUBSCRIBE: https://bit.ly/2Q3EvfE - Website: https://www.frommilitarytomillionaire.com/start-here/ Instagram: https://www.instagram.com/frommilitarytomillionaire/ Facebook: https://www.facebook.com/groups/militarymillionaire/ - My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase "I don't get paid enough" entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! - Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos! THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR’S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS. #BRRRR #jinlym