From the U.S. Army to Financial Freedom with Kirby Atwell
In our ninth webinar in a series exploring the impact of COVID-19 on landlords and real estate, Azibo CEO Chris Hsu hosted real estate entrepreneur Kirby Atwell, Founder & CEO of Green Vet Homes and host of the Living Off Rentals podcast to share how he went from the U.S. Army to successful real estate entrepreneur. Kirby shared why he believes high-quality rental properties are the best way to generate passive income and achieve financial freedom.
Here are some of Kirby’s best takeaways and advice from this webinar:
- Kirby flipped over 70 houses from 2011 - 2016 but realized he wasn’t building long term wealth. Switching to a buy-and-hold strategy has allowed Kirby to generate long-term wealth and achieve financial freedom.
- There is a difference between a rehab for a rental and a rehab for a flip and investors should be careful to note the difference. The buyers of a flip are looking for their dream house, so it should include fashionable updates. Renters require more functional updates. When doing a rental rehab, don’t make the mistake of doing expensive updates that renters are unwilling to pay for.
- Kirby recently moved the bulk of his real estate holdings from Illinois to Indiana in order to invest in a state with a much friendlier regulatory and tax environment. Investors must consider the local tax and regulatory impacts to their bottom line when evaluating a market.
- Increased administrative organization directly leads to increased income. Kirby saves time and money by following a strict organization process.
These free webinars are part of the Azibo series "Helping Landlords Navigate the Impact of COVID-19." As the current health crisis takes its toll on the economy, independent landlords across the U.S. are wondering how they’ll make their next mortgage payment and navigate this uncertain time. We hope these free webinars provide the opportunity for landlords to have candid conversations with other members of the real estate community, learn best practices from experts, and apply strategies to stay afloat during these unprecedented challenges.