Ricky Beliveau, a 36-year-old real estate investor who owns hundreds of units, started his journey in real estate shortly after graduating from college. Here’s how he used a smart strategy to live for free in his first home:
- Early Interest: Ricky developed an interest in multi-family real estate while he was still in college. For his capstone project, he wrote a paper on how to invest in multi-family real estate.
- Analyze Properties: He selected a building that was on the market near where he was renting and used it as an example for his capstone project. He ran the numbers, put together the financials, and collaborated with his professor to understand the potential.
- Recognizing the Potential: After completing the project, Ricky realized the lucrative potential of investing in multi-family real estate.
- Take Action: Ricky didn’t stop at just researching and analyzing. He decided to take action and acquired his first property shortly after graduation.
Living for free in his first home likely involved him renting out some of the units to cover his expenses, allowing him to live in one of the units without having to pay rent himself. This strategy is a common approach used by real estate investors to generate passive income and offset their living costs.
Ricky’s story is a great example of how early interest, education, and taking action can lead to success in real estate investing.