That same running friend introduced him to real estate investing. Derek got licensed, joined his friend’s real estate team, and bought his first real estate deal – a cabin that he rents out short-term in the Smoky Mountains.
Derek has parlayed that into a career, helping people invest in short term rentals in the Smoky Mountains
Derek’s Rookie Deal is a BRRRR property that needed a LOT of work. He financed it using private money and after his rehab he was able to pull out ALL of the money he had into the deal. It even cashflows $350 per month!
Derek has had some growing pains along the way, like a true real estate investor. He shares tips for finding contractors, finding lenders, and finding deals in this episode, along with discussing numbers and the importance of having reserves.
If you think you waited too late to start investing in real estate, this episode can help change your mindset and show you that it’s never too late to get started.
Connect with Derek:
Derek’s BiggerPockets Profile – https://www.biggerpockets.com/users/DerekT44
Derek’s Instagram – https://www.instagram.com/runningbikerrealtor/
Derek’s Twitter Profile – https://twitter.com/DerekTellier
Derek’s Facebook Profile – https://www.facebook.com/derek.tellier.3
Check the full show notes here: http://biggerpockets.com/rookie26