Out-of-State Investing with Bo Kim of Bigger Cash Flow Podcast (Real Estate Investing)
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Ready to create lifetime cash flow and chase what really matters? Perhaps out of state investing should be part of your plans.
Sometimes it takes more than guts to get our personal finances together and hit the best opportunities to invest, but we are here to help you. In this new Income Hacker episode, our guest Bo Kim will share how you can achieve financial freedom by building a passive income without necessarily quitting your regular job. Our guest for today has one big passion: helping others reach their financial objectives and live by their own passion. He is convinced that if there is a way you can work integrally on your goals, he can help you reach them sooner than you thought.
Bo has a business degree in Accounting and he is currently working for a CPA firm in California. He worked at a Financial Services Company where he started to grow his passion for personal finances and set a goal many of us aspire to achieve: financial freedom through passive income. Right now, Bo Kim owns 22 rental units across Kansas City, Indianapolis, and Little Rock. While he started by house hacking his primary residence, he now invests out of his own state and manages his properties in very clever ways. He is the host of Bigger Cash Flow Podcast host and loves helping newbies take control of their finances.
In this episode, Bo will teach us how to invest in real estate while still having a W2 job, and balancing it with real estate investing. We’ll talk about why you really shouldn’t quit your day job as soon as your passive income matches your earned income, but instead, start using other that extra income to level up your investments and achieve financial freedom faster!
“looking at not just the dollar of jobs, but also the opportunity cost of what you’re able to do outside of that bubble. That’s really important because you are positioning yourself for the bigger game” – Bo Kim
Connect with Bo
-Having multiple sources of income and keeping your job while doing real estate to build your passive income.
-Why you shouldn’t quit your day job as soon as your passive income matches your earned income, but rather take advantage and start using that residual income to level up your investments.
-Getting your wife on board with real estate investing.
-Balancing your W2 job and real estate investing so you don’t overwork yourself.
-Out-of-state investing and researching your markets.
-Pocket listings, wholesalers networks, and Facebook real estate groups.
-Bo’s criteria for buying: including ARV, rent-to-value ratios, cash-on-cash return, cash flow per door, ROI, and gentrifying neighborhoods.
-The benefits of working-class neighborhoods (C+ and B-), and digging into the crime reports.
-Dealing with contractors and property managers on properties you don’t get to see in person.
