In this episode, I interviewed my good friend Darren Voros on investing in purpose built rentals.
We spend so much of our precious time working in order to live. Imagine if money could make you money to live in order to work less and have more time for the things that matter most.
Darron teaches real estate, and in this video teaches us about his passion project, his latest purpose built rental, which he was the general contractor. He converted an illegal triplex, which was supposed to be a single-family dwelling, tore it down and built a legal triplex with a coach house. What would’ve been a building with only one monthly rent cheques, Darren built what would become a building and coach house that provided him with four month rent cheques.
We also talk about what specifically purpose built rentals are and how you can make money investing in them. Going into what people you need to talk to and how you go about purchasing a property, Darren walks us through how you would build the home and then rent it out, getting a great return on your investment. The best part is you don’t have to pick up a hammer once, if you have the right team working alongside you.
From talking about working with joint-venture partners to strategies to keep the cash flow pretty well infinite, Darren touches on all of basically everything someone who has already dipped their toe into investing in purpose built rentals needs to know, and includes some exciting tips and tricks. Investing in purpose built rentals, as Darren explains in this video, are not for the faint at heart, and is not recommended as your first time project. However, if you are confident in your team who surround you, all the power to you.
Interested in investing? Like having constant cash flow? Check out this video for some exciting details on investing in purpose built rentals.