249: House Hacking, Live-In Flips, and Investing Purposefully with Josh Daniels
Why do you want to invest in real estate? Is it just about having a lot of units—or is it about creating a life you can be proud of? On today’s episode of The BiggerPockets Podcast, we sit down with Josh Daniels, a real estate investor in Montana who, along with his wife Summer, has chosen to buy fewer but better deals on a quest for financial freedom.
You’ll hear about Josh’s highly creative actions that turned their first deal into a cash-cow, as well as the shift to (and reason for) investing in single family houses. You’ll love Josh’s attitude toward financial freedom, as well as his message that you don’t need hundreds of units to be free.
In This Episode We Cover:
- How Josh got started investing right out of college
- The story behind his killer first rental
- Rental rates for this property
- How they earned $80k on their next deal
- What exactly a live-in flip is
- How they manage their properties
- A discussion on tenant drama in multi- vs. single-family properties
- Josh’s “why” in his investing
- How to handle emotional attachment to deals
- Tips on financing deals through the BRRRR method
- His thoughts on Dave Ramsey’s advice for paying off loans
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Bookstore
- 500k Net worth in 5 years (I’m 30 today!!!) (Forum Post)
- Dave Ramsey
- From Shop Teacher to Multifamily Syndicator with Todd Dexheimer
Books Mentioned in this Show
- The Millionaire Mind by Thomas J. Stanley
- The Millionaire Next Door by Thomas J. Stanley
- Brandon’s Book on Rental Property Investing
- The Total Money Makeover by Dave Ramsey
Fire Round Questions
- New member – Looking for advice on getting started
- How many chances do you give a tenant who pays late?
- This house has no takers
Tweetable Topics
- “Ignore everything on the MLS. Drive every street and check out dilapidated properties.” (Tweet This!)
- “Life is not a competition.” (Tweet This!)
Connect with Josh
Learn more about your ad choices. Visit megaphone.fm/adchoices
Available Results
Generated results are saved to your library for reuse and search.
Choose Template
Pick the result you want. You can review provider and model before generating.
A concise first-pass summary for understanding the episode quickly.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Repeatable methods, frameworks, mental models, processes, and systems.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A dedicated inventory of concrete resources named in the episode.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Scientific findings, mechanisms, studies, hypotheses, and the limits of the evidence discussed.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Investment theses, assets, catalysts, valuation reasoning, time horizons, and risks.
Chronologies, actors, causes, consequences, turning points, and competing historical interpretations.
Policies, proposals, stakeholders, arguments, implementation constraints, and predicted effects.
Career paths, skills, hiring signals, workplace decisions, transitions, and limitations of the advice.
Behavioral mechanisms, biases, motivation, habits, emotions, interventions, and evidence limitations.
Economic mechanisms, incentives, indicators, market structure, forecasts, and uncertainty.
Leadership principles, team systems, organizational design, culture, feedback, and failure modes.
Audience, positioning, messaging, acquisition, retention, experiments, metrics, and failed approaches.
Teaching methods, learning strategies, practice, feedback, assessment, and effectiveness evidence.
Theses, premises, arguments, objections, values, thought experiments, and unresolved questions.
Communication patterns, conflict, boundaries, expectations, repair methods, and contextual limitations.
Books, papers, authors, courses, and other learning resources mentioned in the episode.
Repeatable methods, frameworks, mental models, processes, and systems.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Memorable statements and important claims with attribution and source context.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.