October 29, 2019

Real Estate Investing With Logan Allec

Logan Allec, the founder of MoneyDoneRight, stops by to talk about real estate investing and house hacking in your 20s.

  • Logan bought his first investment property in his 20s. It was a quadplex and Logan lived in one of the units while renting out the other three.
  • Since one of the four units was his primary residence, he was able to qualify for a 3.5% down FHA loan on the property.
  • And since he was renting out the other three units, he essentially lived mortgage-free — a strategy often called “Housing Hacking.”
  • Living near Los Angeles, many of Logan’s peers were recommending that he invest in out-of-state real estate. But he decided to stick with properties close to home. He explains why and the pros and cons of investing in Los Angeles-area real estate.
  • After succeeding with his house hack, Logan tried his hand at his first flip. He used a targeted mailing list strategy to identify landlords that weren’t receiving tenant payments and would potentially be interested in selling at a discount.
  • After buying his first single-family dwelling, Logan outsourced $8,000 worth of renovations before flipping it for a nice profit. He talks about ways to find dependable independent contractors if you’re not particularly handy.
  • Finally, Logan talks about why he decided to launch his website and how he was able to scale it into a full-time job.
  • Learn all Logan’s real estate investing tips and tricks (and self-employed business advice) in this week’s episode!

Are you interested in turning your investment property into a short-term rental through a site like Airbnb? If so, here are the Pros and Cons you’ll want to be aware of.

About the author 

Clint Proctor

Hi, I'm Clint! I love writing about everything personal finance. In addition to this site, my work has been featured on several major publications including Business Insider, Forbes, Credit Karma, and U.S. News and World Report. My hope is that you'll be able to find plenty of helpful information and inspiration on this site to help you reach your financial goals. Thanks for visiting!

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