My Real Estate Journey So Far: Financial Freedom Here I Come

[Tanner Martillo]

Hey BP Community!

I've been on an incredible journey over the past year, diving deep into real estate investing to build financial freedom. Even though I have a great corporate sales job with a W2 income over $200k annually, I've always known I didn’t want to rely on that income forever. Initially, I was hesitant about buying property due to the potential expenses, but I realized that approaching real estate as an investment could yield the financial freedom I’ve always aimed for.

The Start of My Journey

In December 2023, I decided to devote my spare time to real estate. I kicked things off by listening to the BiggerPockets podcast, where I heard an inspiring story from a woman who’d quit her W2 job within a few years of investing. That story got me hooked. I immediately signed up for a BP Pro membership, joined a live webinar on how to start in 2024, and absorbed everything I could about real estate.

At first, I was exploring the idea of investing in San Diego, where my girlfriend and I were living at the time. However, with the market booming and prices high, I felt it was too risky to put all my chips on the table for a single property. That’s when I realized out-of-state investing could be the best path forward, especially given our flexibility with remote work and plans to travel.

Venturing into Airbnb Arbitrage

Since I wasn’t quite ready to buy, I ventured into the Airbnb arbitrage space and purchased a master class to learn the ropes. While the arbitrage model didn’t work out as I’d hoped, it turned out to be a valuable learning experience. I walked away with a thorough understanding of what it takes to run a successful Airbnb, from setting up listings to managing guests and maximizing occupancy rates. That knowledge gave me the confidence to take on short-term rentals as part of my investment strategy moving forward.

The First Deal

In May 2024, while my girlfriend and I were traveling, she found a multi-family property in a city near us. Knowing my goal of house hacking and Airbnb, she encouraged me to connect with an investor-friendly agent I found on BiggerPockets. After several inspections and a few deals that didn’t pan out, I was able to lock down a duplex in a high-demand Airbnb area. Fortunately, we both work remotely, so we decided to move into one unit and renovate it for Airbnb while keeping tenants in the other. I currently use RentRedi (courtesy of BP Pro) to self-manage the tenants.

Where We Are Now

It’s been three months since we moved in, and while the renovations have been challenging, I couldn’t be happier with the decision. In January 2025, I’ll list the renovated unit on Airbnb and move into the other unit. I managed to secure owner financing for five years at 6% interest on half of the property cost, with a 7% rate on the remaining financing. To cover the down payment and closing costs, I took a 401k loan, which left me more capital for the renovation work. I'm also managing another Airbnb property, which has been instrumental in refining my property management skills, and I’m considering expanding into more property management. I’ve added a link to my website if anyone has any feedback.

Looking Ahead

I'm thrilled with how things have progressed so far, and I hope my story encourages those just starting out. For my next move, I’m looking for guidance from this community. My girlfriend and I are flexible and can live anywhere in the U.S., so we're open to owner-occupying and house hacking again in a high-demand area. We’re aiming to grow steadily, and any advice or insight on what might be a smart investment move for us next would be greatly appreciated.

Thanks for reading, and happy investing!