375: Making $160K/Year From ONE “Rare” Property Thanks to Seller Financing w/Adam Howard

Every investor wants a rental property that brings in six figures, but not every investor is willing to scour old listings, bring in a partner, or exhaust all of their creative financing options. If you want the perfect deal, don’t let money get in the way!

Today, we’re chatting with former Division II football coach Adam Howard. In just three years, Adam has bought several properties that provide enough cash flow to replace his W2 income. This includes the “crown jewel” of his portfolio and first commercial property, a 13-unit hotel tucked away in a beautiful New York lake town. Adam found this rare deal by digging up an old Zillow listing that was incorrectly described as a single-family home. He was able to get seller financing for the deal, and today, it brings in $160,000 per year!

Of course, this success story had its fair share of hiccups. Adam shares how he had to bring in a partner to take down the deal and identify creative ways to add value to the property before charging his ideal nightly rate. He also talks about the challenges of out-of-state investing and why building a strong investing team has been the key to his success!

In This Episode We Cover:

How to land your FIRST commercial real estate deal without bank financing

The “small” commercial properties that are IDEAL for seller financing

How to find the perfect investing partner for your next deal

Leveraging your retirement accounts to buy MORE properties

Raising your nightly rate with the best value-adds for short-term rentals

How to find the hidden value in properties with incorrect listings

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Apply to Be a Guest on the “Real Estate Rookie” Podcast

Grab Your Copy of “Real Estate Partnerships”

How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal

Commercial Real Estate Fundamentals for Successful Investors

Scaling From Single Family to Commercial Real Estate

Connect with Adam:

Adam's BiggerPockets Profile

Adam's Website

Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-375

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