Turning Homes Into Cash Machines - Casey Gregerson #6196
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Kerry Lutz interviewed Casey Gregerson, who transitioned from a career in petroleum engineering to real estate investment. Casey shared his educational background in math and chemistry and recounted how his father encouraged him to invest in his first home while attending the University of Wyoming. He practiced house hacking by renting out rooms in his home, which sparked his interest in real estate. Influenced by the book "Rich Dad, Poor Dad," he learned about assets and liabilities, leading him to expand his portfolio after refinancing his first property to purchase a second home. By making improvements, he increased the rental income significantly, leveraging equity to create additional cash flow. Casey reflected on the contrast between his stable job at Shell and his entrepreneurial ventures in real estate, utilizing his time off to find fixer-uppers. He discussed challenges faced in 2017 when attempting to expand into higher price points, which resulted in financial losses due to miscalculations and contractor issues. Despite these setbacks, he emphasized the importance of starting early in real estate and recommended partnering with experienced investors to avoid common pitfalls. Casey highlighted the necessity of having multiple exit strategies for each property and concluded that a buy-and-hold strategy is a reliable method for building long-term wealth. Find Casey here: https://caseygregersen.com/) Find Kerry here: https://financialsurvivalnetwork.com) and here: https://inflation.cafe)