Episode 165 – Adding $10,000 of Passive Income to your Monthly Earnings with Max Cohen

In this episode, we sit down with Max Cohen, who shares his journey of building a profitable real estate portfolio, alongside his W2 job, with the help of the FI team in just a few years!

Max didn’t grow up with an understanding of real estate, he even had a somewhat negative perception of what real estate agent and investors did! But, with an analytical, engineer mindset, once he saw the numbers of investing in real estate and offsetting your living expenses he was hooked!

In less than 3 years Max has purchased 5 properties, most of which he operates as high-end, short-term rentals. In a market where people are questioning the profitability of STRs, learn how Max is managing a booming business.

Max provides valuable insights into how to take a loan against your 401K, profitable renovations, managing a management team and designing desirable rentals.

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Watch the episode here

Listen to the podcast here

 

Podcast Highlights:

[4:40] Max’s Start With Financial Independence

[9:00] Learning the Ropes With the FI Team

[13:53] Strategizing Renovations for Rent Increase

[15:55] Must-Know Step of Screening Potential Tenants

[19:40] Tips on House Hacking Larger Properties

[23:10] Getting to Know the 401K Loan

[26:40] Revealing Max’s Short-Term Rental Numbers

[31:45] Max’s Real Estate Pivot And Strategy Now

[34:10] Learning How to Say No to Deals

[38:03] Dealing With Legislation Against Short-Term Rentals

[40:35] Systems for Effective Team And Property Management

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Important Links

HOSTS   
Craig Curelop   
📸 Instagram: https://www.instagram.com/thefiguy   
📘 Book: https://store.biggerpockets.com/products/the-house-hacking-strategy   
🏘️ Buy Real Estate: https://bit.ly/3V3QDze   

Ali Garced
📸 Instagram: https://www.instagram.com/ali_the_agent/ 
📱Facebook: https://www.facebook.com/aligarced 
💼 LinkedIn: https://www.linkedin.com/in/alexandragarced/ 
🖥 Website: https://www.garcedrealty.com/ 

GUEST

Max Cohen

📸 Instagram: https://www.instagram.com/cohenmax9/

Check out their recommendations here:

🔗 Affiliate Links 

1. Don’t miss out on resources of great value for real estate starters. Visit FITeam’s website! — https://www.thefiteam.com/
2. Join a dinner party with The FI Team & other investors while at the 2023 BiggerPockets Conference! https://www.thefiteam.com/bpcon/
3. Check out their recommendation here:
   1. The Art of War by Sun Tzu – https://a.co/d/57RqUsC