$9K/Month Cash Flow by Merging Real Estate Investing & Contracting 

Real estate investing and contracting go hand in hand, but not many investors are bold enough to tackle their own home renovations. Today’s guest is, however, and he’s about to show you the business model he uses to create a ton of cash flow, scale his portfolio, and save a fortune on taxes!
Welcome back to the “Real Estate Rookie” podcast! Today, we’re joined by Riley McFarland, who happens to be one of Ashley’s general contractors, as well as an investor closing in on twenty doors. Having grown up around real estate, Riley knew that owning rental properties was one of the best ways to build wealth. But after taking a few contracting jobs, he discovered a knack for home renovations as well. By combining the two, Riley has a thriving business that brings in $9,000 in monthly cash flow and more in tax benefits!
In this episode, Riley talks about how he runs his investing-contracting business like a developer and buys MORE rentals in the process. He also shares the best value-adds for boosting equity and why he prefers to buy the “ugliest” rentals he can find. He even gets into the process of estimating rehab costs during an initial walkthrough and leaves you with several crucial questions to ask before hiring a general contractor!
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14 Questions to Ask Before Hiring a General Contractor:
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Real Estate Rookie 387 - The Step-by-Step Guide to Flipping Houses and High-ROI Home Renovations:
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Real Estate Rookie 311 - DIY Real Estate Hacks That Will Save You a FORTUNE on Your Deals:
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BiggerPockets Real Estate 896 - The Renovations That’ll Instantly Increase Your Home Value (Part 1):
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BiggerPockets Real Estate 899 - The Renovations That’ll Instantly Increase Your Home Value (Part 2):
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Instagram: @wealthfromrentals or / wealthfromrentals
Show notes at: link.chtbl.com/Rookie
00:00 Intro
00:48 Growing Up with Real Estate
07:06 Why Investing AND Contracting?
13:40 Walking Properties & Finding Contractors
20:30 Project Management 101
25:54 The BEST Rental Value-Adds
28:38 Vetting Contractors & DIY
32:03 Investing Tips for Contractors
35:42 Connect with Riley!