The Passive 6-Figure Game Plan: The Secret to Getting Started in Real Estate Investing Without Using a Lot of Your Own Money, With Brody Fausett.
Brody Faustett has a remarkable track record. He is an entrepreneur who in his 20s has built a six-figure passive income through real estate investments. Known with his wife Andrea as the power couple, the Flippin ‘Fausetts, he shares his expertise in helping other people live more fulfilling lives through his passive 6-piece game plan.
Fausett believes that getting into the real estate industry isn’t as complicated as many people think, they just don’t have the right guidance and information. He is also working to dispel the myth that someone “needs money to make money” because he knows from experience that this is not true and wants to help others find the shortcut to real estate investors and live on passive income.
The goal of his program is to help people build passive monthly cash flow that will maximize a cash-on-cash return.
The 6 strategies of Brody Fausett’s passive 6-piece board are as follows:
1. House hacking – This is the case when you buy a house and get other people to pay the mortgage. The purpose of this strategy is to take out a “property loan” which will allow you to buy the property with a 0-5% down payment. An example of this is living in a bedroom and renting out the rooms that are not required.
Another example is buying a duplex, triplex or fourplex and living in one of the units while the others are rented out. After all, you can live for free and pocket extra money. As soon as you move out, you can rent out the space you have occupied and earn even more money.
2. House hack-hopping – The next step is to buy a second property once the first property has passive income and then do the same again. This is a process that Faustett recommends as often as possible.
There are certain regulations that usually require you to live in your first property for at least a year before you can “hop” into your second property.
3. partner – Once some properties are generating residual income, it is time to find a partner, find someone who has money to invest but doesn’t want to take over the day-to-day management of the property or doesn’t have the ability and time to find it The right cash flow property.
This is a great way to build passive income without using your own money to finance. Regardless of what most people think, partners with money to spend are extremely easy to find if you have the right offer.
4th Seller Financing – In this phase, additional properties are acquired through seller financing. This is when a home seller is willing to privately fund the sale without the usual credit checks and bureaucracy of a traditional bank. The buyer pays the seller direct instead of traditional bank credit, saving taxes and fees for both parties. Even after the home is sold, sellers can still bring in cash flow and charge interest on it without worrying about managing the tenants.
For the buyer, however, it can offer the option of buying a liquid property with a small down payment.
5. BRRRR – Buy, rehab, rent, refinance, retry – this stage is exactly what it says and after a short while this will generate a solid flow of passive income. One big thing that makes this strategy special is the third R, Refinance.
During this phase, an investor can usually get back all of the money they invested in the property, including the down payment and rehab costs. This strategy makes it possible to generate another property with passive income with $ 0 of your own capital.
6th Investment loan – With this strategy, you get a traditional investment loan or a mortgage through a bank. These loans are more expensive upfront (usually a 20-25% deposit). However, once a person reaches a certain income point, the cash flow from the other properties adds up every month and it can be easy to fund the down payment of an investment loan.
Through the Real Estate Investing Playbook, Fausett shares his formula for success with those who want to learn more. You dive into everything you need to know, from the beginning of not knowing which property is a smart investment or how to analyze it, to building a six-figure passive income and being able to quit your job. His team offers several levels of support.
His team includes a financial strategist, a real estate tax expert, himself and his wife Andrea. Together they are a dynamic team that shows people how they can take their life into their own hands and build their dream life through passive income with this six-figure game plan.
There are additional steps that Fausett will guide people if they have an interest in expanding after they reach the 6 digit mark, and he works with people one on one to lead them to success one step at a time, starting with that where to get the money for the first purchase. Visit Faustett’s website and connect on Instagram to begin your journey to financial freedom through passive income.
Published June 28, 2021