Garrett Terrell is an agent at eXp Realty who became a broker in 2018, learned the ropes, and got good at selling residential real estate. At the end of 2019, he started getting into rentals and flips. Now, he has 8 units under his belt, and he has just recently discovered BiggerPockets!

In this episode, Garrett talks about his “backwards house hacking” journey and breaks down the numbers for his first two homes. He shares some tips and lessons he has learned from renting out and remodeling properties. Tune in until the very end because we also weigh in on different perspectives regarding FI and on buying and holding property!

Key Takeaways

  • Garrett and his wife initially purchased houses to live in and then later turned them into investment properties
  • On NQM loans and what the rental market is like in Olympia, Washington
  • How to make your rental properties look good
  • On refinancing from a primary to an investment property loan
  • How Garrett found his flips and an out-of-state 4-plex 
  • On increasing your income to upgrade your lifestyle versus living on a lean budget to achieve FI
  • Money is accessible
  • Focus on the best-case scenario

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