A high wage W2 earner hacks his first house in 2009. He then gets distracted from cash flow and does flips and vacation rentals until it is completely unmanageable. Later, he learns about syndication, tries it once and gets hooked to where he sells his entire portfolio and is now a full-time passive investor in 26 unique deals.
Key Points on How to Become a Passive Investor, with Travis Watts
- Started in real estate in 2009 by buying a single family home and renting out the extra rooms because of this, he learns about the power of being a passive investor
- Bought his first house near his home town in Colorado which isn't far from Colorado State University, which gave him a lot of flexibility because most of his renters were college students
- He converted the house to his first full-time rental when he left for a better paying job
- Continued the house hacking and passive income process by, buying a distressed property, fixing it up, living in it for awhile, then converting fully to a full-time rental
- Started getting into, fix and flips, vacation rentals but started losing track of his desire for passive income because he had so much in his portfolio to manage
- Had to go overseas for a month, while he was there he realized that single family homes weren't scalable enough for him because they didn't provide the passive income he was looking for
- When he returned from overseas, he also returned to the drawing board and he learned about syndication
- Partnered with a local group on one syndication, just doing the minimum investment so he could see if this would allow him to be the passive investor he wanted to be
- And the stars aligned, Travis realized that multifamily syndication deals were the kind of passive investment he was looking for
- Sold all of his single family homes, including the one he was living in, to go all in on passive deals
- All of that happened in 2015, now he has 26 passive deals across 14 different groups
- Who is your success role model? His father
- What is your biggest success? Being able to self educate himself on real estate
- What does a typical day look like for you? There is no typical day, he tries to visit friends and family, write a little, and network, but most importantly he tries to help people along their own path every day
- What is your favorite quote? "Most people overestimate what they can achieve in one year and underestimeate what they can achieve in a decade"
- What are your hobbies? Playing the drums and traveling with his family
- What is the best business book you’ve read? All of the books in the Rich Dad series
- If there was one key piece of advice you could leave our listeners with about achieving success, what would it be? Define your goals and figure out what your why is
About our Guest, Travis Watt
Travis Watts is a full-time passive investor. He has been investing in real estate since 2009 in multi-family, single-family and vacation rentals. Travis is also the Director of Investor Relations at Ashcroft Capital. He has invested in over 25 passive syndications between 14 different firms. Travis now dedicates his time to educating others in the world of investing and has made it his mission to share passive investment strategies in order to help others achieve and maintain wealth in real estate.