From Janitor to $1,000,000 by Buying $2,500 Rental Properties
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- Опубликовано: 19 июн 2024
- Episode #839
Darius Kellar went from making $10/hour as a janitor to a real estate investor with over $1,000,000 in rental properties in less than a decade. By taking advantage of property auctions and investing in areas that most real estate investors wouldn’t even consider, Darius has built a real estate portfolio that will soon bring in six figures in rent every year, most of which he’ll get to keep. How he did it was a lot simpler than you’d expect.
Before real estate, Darius had $100,000 in student debt, was making a close-to-unlivable wage, and knew he needed a way out. He bought his first home six years after the Great Financial Crisis in an economically devastated city. Darius couldn’t get a mortgage and needed to save up to get out of the two-bedroom house he was sharing with six other people. Once he closed on his first house, he knew he had to repeat the system. But this wasn’t easy.
Darius has seen everything from sewer problems to stripped copper piping and wiring, no electric hookups, and renovation headaches, but he never stopped. Now, he makes as much passive income per year as many people’s full-time jobs and can show you how to do the same so you can make more money than you ever dreamed possible.
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Show notes at: www.biggerpockets.com/blog/re...
00:00 Intro
01:22 Quick Tip
01:56 First Property Nightmare
03:50 Making $10/Hour
07:27 Buying $2,500 Houses!?
15:08 More Properties and Pipe Problems
25:57 DON'T Rely on "Passive" Income
29:06 Buying Houses at Auction
32:18 Where to Ask Investing Questions
33:31 Darius' Cash Flow and Portfolio
36:02 Outsourcing Everything
38:12 $1,000,000 in Real Estate
41:44 Connect with Darius!
🙏 ❤ Thanks for having me on the show. Enjoy Everyone.
Congratulations on your success!!!
Congratulations
congrats.
Love to see it Darius, keep growing! 💪🏾
Inspiring! Thank you
Just starting the episode but it seems like you all found a guest that is in longterm rentals , cash flow focused , and not syndicating or raising capital to build his business .
This is awesome a lot of listeners want more and more content like this .
Thanks and yes I'm a big fan of playing the long game.
For sure
@@darius_oneofonehey man are you doing section 8 or cash?
This was the best episode ever. You guys need to do MORE mom and pop land lord and how they did it from the start like this one. I bet you, the BP ppl who watch this show are more mom and pop land lord or how to start. Love this episode.
This is a super inspiring episode with Darius! I love his tenacity and grit of hanging on when things get tough. Thanks for having him on the podcast.
Thanks for enjoying it. I hope everyone was able to pick up some gems.
never judge a book by its cover. This guy is super intelligent
😃 Thanks. Sometimes its tuff to share how much work goes into learning behind the screen. I am happy you enjoyed.
I just started reading David’s book “Pillars of Wealth” and plan on buying my first rental in a year max. Thanks for everything guys and thank you for sharing your experience Derius.
Pillar's of wealth is a great book. I am glad to share my story I hope you benefit from it.
I love how he smiled when he mentioned his wife😊
😊 I have to give her credit. Being my realtor can be crazy sometimes. Especially when good deals come up. ❤
women are the emotional strength of real men. we love them and care for them to a point they would never understand. That's why the men on the Titanic gave their lives so Women and Children can live. I just hope modern society start appreciating us more at some point moving forward.
@@DonesdeMotivacion Well said
Such an inspiring individual! Good job Darius! Thank you so much for keeping it real❤
God was looking after him when he ran into the electrician. He is very bright.
Thank you.
Awesome sharing. Really admired your drive & courage especially in the beginning. Hats off.
Thanks. Tuff times make tuff people 😉
This guy is a real go getter. Mad props to him. Thanks for the great content!
Chase after your dreams my friend.
Just keep in mind that when you pay people by the hour, you have to keep workers comp for them, i use a policy for 25k annually and have served me well over the years
Thanks for the tip.
Appreciate these guys and this show. I’m speechless about the value they provide. 🙏
Yea. The hosts are very good.
What an amazing story of resilience and perseverance. Thanks for sharing. Love BP
I'm glad you enjoyed.
Very inspirational. Learning so much from you guys! Thanks for all the wisdom.
Thanks.
Great Quality Content!! good share Darius!
More content coming
Super smart dude, he stuck it out and was determined to see it thru and learned so much and made it happen and is now reaping the rewards of his hard work and killin it. This is exactly what I’m planning to do with this but building my own smaller sized homes (I am a custom luxury home builder but now planning to build much smaller sized homes like these and buy some already made as well and build my real estate portfolio piece by piece, and dip into section 8 homes as well) I have the benefit of having all my personal trades for every area if building a home that I can use for remodels and building my own smaller ones out right as well. Great content brother! Keep em coming 💯
Very inspiring story.
Congrats Darius. Keep up! Thanks
💯 Thanks. Hopefully I shared some value to everyone.
Great content as always! This episode is very inspiring!
;) Thanks.
Phenomenal and Insightful Episode 🔥🔥🔥
Make sure to follow for more content
Much respect to you brother. This a great success journey and is hope for lots of people that feel like it not possible. Keep it up man🤙🏽
❤Bigger Pockets and many other media platforms have helped me learn alot along the way. Please continue to share .
I am in Edmonton I have $20000 down-payment how do I buy my first rental
Shout out back home in Detroit.
The 313 is the place to be.
just curious what city hes in? I heard something about car companies leaving, Detroit?
Haven’t watched the podcast for a while, I should say Rob has put some work in the gym in the meantime. GG!
0:38 Looks like Rob still needs to make the bed. lol. ty 4 gr8 convo gents.
😂
Darius, you're a flipping genius, bro 👏🏾 🎉
Thanks for the flowers ! Share this episode with someone who is trying to build a rental empire.
Good story. Henry Washington has been doing this and coaching this for years.
This was very good.
Glad you enjoyed it. I will share my new milestones as they come.❤
I hope to see house prices like this one day
Never wait to buy. Buy and wait . 💯
Great interview!! How does having debt on your property protect you? Especially considering the reduction in cashflow? Are you referring to tax shelters?
Simple answer- equity is numerical amount that someone actually owns. If you have zero equity then what value do you own?
Great show, this is inspirational!
Thanks alot. I'm happy you enjoyed it.❤
@@darius_oneofone Did you use personal Credit or business credit to get financing? Thanks
I remember 5k could buy a big house in Atlanta
Yeah and the market values in Atlanta eventually increased big time .
Damn he capitalized on a one in a lifetime chance in Michigan on cheap houses, that's awesome. Love to see that more than dudes that got Bitcoin at 5 cents a piece and now their worth 38 grand a piece lol. Gotta Google DTI to see what that means now
DTI = Debt to Income Ratio. Thanks for enjoying the show.
Please share what your favorite part of this episode was ?
Hello guys! What is the website he mentioned for auction houses ?
There's many sites though.
Homepath is alot different than it is today.
What was what was the brand of camera?
Forbest Sewer camera ❤
A marathon is still a race Rob
10 bucks a hour and in school for master boy was hustling
I still keep my old paystubs as a reminder.
Really enjoyed the interview but I gotta ask how can you afford 50k in vacations with gross yearly rents of 66k? When you say 60%, that is your pure cashflow after all expenses and PITI? What about all those massive Capex expenses? You are netting 39.6K from that gross rent? These numbers just don't seem to add up to me.
I also shared that I eventually became a "Design Engineer" for a fortune 500 company. I was in college for nearly a decade . I struggled for many years and then the real estate rent combined with the change in job (Janitor to Design Engineer) really took my quality of life to a new level. I am now at the point rent is just extra money. Thanks for your questions. I am happy you enjoyed the show!😊
@@darius_oneofone Hello Darius, I hope all is well and thank you for sharing your insight on here. I wanted to ask you how you feel looking back at your MBA. Do you think it's essential to getting a good corporate job in your field?
@jordanthomas5259 an MBA only helps me if I become manager level in engineering. It doesn't help at all on the technical side, including pay. But I can honestly say. That the ceiling is alot higher in real estate for earning potential. Skys the limit in real estate.
So it’s all misleading. Of course we don’t know his tech job salaries.
Low values and low taxes. $150k values. $1400 rents. Although taxes on income is high so not sure that part. It will have low deprecation offsets because homes were cheap.
can you please PLEASE bring back the high-pitched "qwwiiiiiiik tip".... please :)
I’m right behind him.
I'm sure you can do better than I did. I'm invested very slowly. Thanks for watching.
Second
Last
First!
I wish I was first ;)
THIRD!!!
This channel has turned into highlight reels of real estate. There is nothing applicable to today’s market. Bring Brandon the Tall guy back
I believe the BRRRR strategy is still applicable.
@@darius_oneofone Okay tell me how to use it in this market? I am all eyes
@@darius_oneofone What happened? I am waiting for you to enlighten me.
@@tonytucker8651 The BRRRR strategy is applicable today.
BP is always nonsense.