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87: How to Lose Money by Pursuing Too Many Opportunities with Sunny Burns
Sunny Burns is 27 and a full-time engineer working for the DoD. He is happily married with two kids. Sunny and his wife bought their first investment property in 2015 off the MLS, a Quadplex, 20 min from NYC, this allowed his family to live for free and allowed his wife the freedom to retire from her teaching job and stay home with their child.
They bought it for $430,000 - less than two years later it appraised for $630,000. They then used a cash-out refi and HELOC on that first property to buy a second investment property, a Triplex - also 20 min from NYC. Together the two properties appraise for $1m, and will gross over $100k in annual rents. Other than real estate, Sunny also sells pacifiers on Amazon Prime and writes a blog.
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By Paul Moore and Josh Thomas
4.8
123123 ratings
Sunny Burns is 27 and a full-time engineer working for the DoD. He is happily married with two kids. Sunny and his wife bought their first investment property in 2015 off the MLS, a Quadplex, 20 min from NYC, this allowed his family to live for free and allowed his wife the freedom to retire from her teaching job and stay home with their child.
They bought it for $430,000 - less than two years later it appraised for $630,000. They then used a cash-out refi and HELOC on that first property to buy a second investment property, a Triplex - also 20 min from NYC. Together the two properties appraise for $1m, and will gross over $100k in annual rents. Other than real estate, Sunny also sells pacifiers on Amazon Prime and writes a blog.