I Was Sleeping at Work to Save, Now I Own 8 Rentals (EXPENSIVE Market)

Video Description

Episode #1201 Browse Brand New, Rent-Ready Properties on Lennar’s Investor Marketplace: http://biggerpockets.com/lennar Episode Show Notes: https://lnk.to/biggerpocketsYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcastfeedback Will Your Pricey Deal Work? Run the Numbers with Dave’s Book, _Real Estate by the Numbers_ : https://store.biggerpockets.com/products/real-estate-by-the-numbers?utm_source=youtube&utm_medium=description&utm_campaign=none Sign Up for the BiggerPockets Real Estate Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders What to Do If You’re Located in an Expensive Real Estate Market: https://www.biggerpockets.com/blog/expensive-market?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Ben: https://www.biggerpockets.com/users/benc289?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Ben Chester had no money. In fact, it was worse—he had $120,000 in debt. He was sleeping at work and renting out his own rented apartment just to survive in America’s most expensive market—New York City. Now, six years later, he has eight rental properties, is debt-free, and even owns Billy Joel’s former residence (yes, you read that right). If you’re living in an expensive market and think it’s impossible to invest, Ben has the formula for you. He turned very little money into a one-bedroom apartment empire—buying whatever he could in New York City, knowing it would all be worth the sacrifice. He’s split these small apartments into multiple rentals with up to four tenants, allowing him to make the numbers work even when everyone else says it’s impossible. But that’s not the best part. After unlocking a tax “loophole” when buying a lake house, Ben is now able to offset 100% of his W-2 income taxes, meaning he often gets a check back from the government every year, all thanks to his real estate. Thought it was impossible to invest in markets like New York City? Ben is about to make it a very attractive option. Forecasts, projections and other predictive statements should never be relied upon. You should consult your own accounting, legal and tax advisors to evaluate the risks, consequences and suitability of any real estate transaction. Copyright © 2025 Lennar Corporation. 00:00 Intro 01:55 Sleeping at Work to Save Money 04:24 Turning 1 Bedroom into 4 Rentals 06:18 First Rental (1-Bedroom Apartment!) 08:02 Sponsor: Lennar Investor Marketplace! 08:45 Testing a Different Market (4-Unit!) 11:55 That Much for ONE Bedroom? 14:20 Airbnb Lake House (BIG Renovation) 20:05 Pay ZERO Taxes (Loophole) 24:33 Buying Billy Joel’s House! 26:51 Current Portfolio