I built a real estate portfolio as a practice squad player in the NFL.

I’m not tweeting that as a flex.

I want to illustrate that even with relatively limited time and money, you can too.

Here’s how I got started

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I started with what’s called an “FHA Loan”.

It’s a loan from the government that let me, as a first-time home-buyer, only have to pay a 3.5% down payment on a property I wanted to buy.

So the property was $268,000, I would only have to put down $9,380 to buy it.

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What some people don’t know is you can use that FHA loan to buy a multi-family home or a place with multiple units

The limit is 4-units, so that’s what I bought

Another thing people don’t know is that the loan requires you to live in the spot you buy for at least a year.

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I lived in one unit and rented out the other three for $2,350

My mortgage payments were $1700

I would’ve paid ~$2k in rent for a nice spot in Scottsdale, AZ like some of my teammates were doing.

That would’ve been $24k annually in rent instead of the $7800 in profit

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Now I want to keep it with you. This wasn’t all easy.

Some pitfalls of this strategy are:

1.) It sucks being a landlord. Period.

2.) You have to pay high mortgage insurance with this loan.

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Here’s the positives:

1.) i was able to live rent-free and then cash-flow even more when I got from the @AZCardinals and went to the @Lions

2.) 3 1/2 years later, in the middle of a pandemic, I was able to take a $61,000 profit on this property by selling it.

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I just want to give people some real, practical advice on this.

I’m not special. Anyone can do this.

If you take anything from this thread, believe that.

#FreeGameFriday

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