458: Ditching "Active Investing" for More Passive Income Streams with Tamar Hermes

Every real estate investor knows that things don’t always go as well as we’d like. What happens when you’re hit with a $16,000 bill to fix a sewer, or when 20 of your tenants call you all at once with problems? Some things, like those examples, make active real estate investors envy passive investors. This is why Tamar Hermes decided to go on a more passive route for real estate investing.  Tamar started at age 28, working as an executive in the television industry. She realized that she was trading her time for money, and without her job, she wouldn’t be able to pay her bills. So, she put 10% down on a duplex and started house hacking. Over time she bought more and more duplexes, some even out of her 401(k). She was an aspiring landlord, but after being hit with the situations above, she decided to sell all her units in Los Angeles and put her money into more passive income streams. Now she’s invested in syndications, like Brandon’s Open Door Capital to be exact. This gives her far more freedom to pursue her passions in life, without having to worry about those 2 A.M. toilet calls. Tamar refers to herself as a very cautious investor, and that may be why she feels far more diversified with passive investing than active investing. She also talks through “finding your tribe” and how Gobundance has helped her meet friends and partners within the real estate space. This doesn’t mean you need to go out and find a group, but having friends and allies within your certain niche can help move you miles ahead of the competition! In This Episode We Cover: Using house hacking as a way to fuel your real estate investing  The difference between passive and active real estate investing Finding cash flow AND appreciation when looking for rental properties “Upgrading your investing” and growing your investor mindset Recourse vs non-recourse loans Finding quality agents, certified financial planners, and other partners And SO much more! Links from the Show BiggerPockets Forums Open Door Capital Travel Nurse Housing Grant Cardone GoBundance BiggerPockets Bookstore BiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan Sullivan Josh Dorkin  Check the full show notes here: http://biggerpockets.com/show458 Learn more about your ad choices. Visit megaphone.fm/adchoices