Why Real Estate Investors Are Fleeing to Out-of-State Markets

In this episode of Slum Dog Millionaires, hosts Kayla and Desiree sit down with Rick, a seasoned real estate investor and master of house hacking. Rick shares his incredible journey from doing his first house hack in a smoke-filled condo to using FHA 203k loans, dealing with wild ADU delays, and eventually scaling to out-of-state investing in Tennessee and Alabama.Rick breaks down the nitty-gritty of the 1031 Exchange, the harsh realities of LA's eviction moratoriums, and why sometimes cutting down a tree can cost you as much as a new roof. But the absolute highlight of this episode is Rick’s mind-blowing escrow story: The tale of a seller’s wife who literally faked her own death just to stop the sale of her home! You’ll also hear Rick's thoughts on building generational wealth and why his daughter will be learning to manage properties or getting written out of the will!🎧 Hosted by: Kayla & Desiree🎤 Featuring: Rick, Real Estate Investor & House Hacker💡 What You’ll Learn in This Episode:✔️ What is House Hacking?: How to buy a primary residence, rent out rooms (or an ADU), and live mortgage-free.✔️ The 1031 Exchange Explained: How Rick deferred his taxes and traded one LA condo for seven doors out of state.✔️ The Risks of Out-of-State Investing: How to mitigate risks by partnering with local experts and hunting for off-market multi-families.✔️ The 203k Loan Experience: Why fronting renovation costs and dealing with the city can turn a 4-month project into a year-long nightmare.✔️ The Escrow Horror Story: The hilarious and chaotic story of a seller's wife who faked her own death during an active real estate transaction.✔️ Building Generational Wealth: Why you shouldn't just hand an empire to your kids (and how to put them to work instead).🎙 Connect with Rick:🌎 Website → https://rickalbertonline.com/📘 Facebook → https://www.facebook.com/RickBAlbert/📷 Instagram →https://www.instagram.com/rickbalbert/?hl=en🔗 LinkedIn → https://www.linkedin.com/in/rickbalbert/🎙 Follow Slum Dog Millionaires:🌐 Website → https://desireedoggett.sarasotahousehunt.com/📘 Facebook → https://www.facebook.com/people/SlumDogg-Millionaires/61576754805249/📸 Instagram → https://www.instagram.com/deztin8cion🔗 LinkedIn → https://www.linkedin.com/in/desiree-doggett-46776814/📘 Facebook → https://www.facebook.com/kaylaLovestoSell/ 📸 Instagram → https://www.instagram.com/kaylalamb1217/🔖 Don’t Forget to LIKE 👍, SUBSCRIBE 🔔 & COMMENT 💬 Below!💎 Produced by Icons of Real Estate → https://iconsofrealestate.com/