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Episode 56: Josh Adegboye, 24 and on his way to Financial Freedom using Short Term Rentals
Description
Josh Adegboye, a 24-year-old electrical engineer, lays out his plan to own 28 doors and generate $2.3 million in annual cash flow by age 29. Nine months into the Dallas-Fort Worth short-term rental game, he's already running a two-bedroom downtown condo arbitrage at a $700-per-month spread, managing two properties in Richardson and Irving, and consulting on the side - all while working full-time. A supervisor's warning not to become a "60-plus corporate slave" and Rich Dad Poor Dad set him on the path, and he's betting on a market crash between 2024 and 2026 to snap up inventory.
The hosts and Josh discuss Arlington's looming owner-occupancy requirement for Airbnbs, the impact of Amazon HQ2 on real estate prices, and the challenge of affording middle-class homes when builders only construct $300,000-plus properties. Josh shares how he furnished his first arbitrage for $3,700 in one week using Facebook Marketplace, dodged a shady new-construction deal when the builder ran out of money, and uses TurnoverBnB and Cozy.co to automate operations. He's targeting corporate rentals with extended-stay nurses, eyeing smart-home technology as a differentiator, and sees Lagos, Nigeria as a future market where a condo costs under $2,000 USD.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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