Software Engineer Talks About "Nightmare" 1st Rental Property
Episode Summary:
Real estate investing attracts people from all walks of life, but transitioning from a tech career to building a real estate portfolio is no small feat. In this post, we explore Liam's inspiring journey from software engineer to real estate investor, where he shares his early challenges, key insights, and the strategies that helped him grow from a triplex purchase to scaling into commercial real estate.
How It All Began: From Silicon Valley to Real Estate
Liam’s interest in real estate was sparked by his upbringing in the Bay Area, where tech’s explosive growth transformed neighborhoods and property values. Despite a steady job as a software engineer, Liam craved more financial security and control over his future. A turning point came in January 2022 when his mother handed him The Multifamily Millionaire by Brandon Turner.
“I realized this was doable,” Liam recalls. By October of the same year, he purchased his first triplex in Cincinnati, a market chosen for its affordability and growth potential.
Overcoming Fear and Taking Action
Transitioning into real estate wasn’t without its challenges. Liam faced imposter syndrome and self-doubt, but attending local meetups helped him connect with seasoned investors and like-minded peers.
“Networking was the game-changer,” he says. “Seeing others succeed made it real for me. It pushed me to take that first leap.”
For Liam, investing out of state in Cincinnati required not just analysis but trust in his growing network. He reached out to agents, toured neighborhoods, and developed a clear investment strategy.
The “"Nightmare” First Deal: A Triplex in Cincinnati
Liam’s first deal was anything but smooth sailing. He purchased a vacant triplex for $235,000, planning to use the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method. The renovation process stretched nearly a year, involved firing three property managers, and cost $50,000—more than expected.
Despite the hurdles, Liam turned challenges into opportunities. He converted two units into three-bedroom apartments, boosting rents significantly above market rates. The property now generates strong cash flow and holds substantial equity, but the experience taught him the importance of proper due diligence and having reserves.
Scaling Up: From Residential to Commercial Multifamily
After the triplex, Liam recognized he didn’t enjoy managing properties and shifted his focus to larger commercial multifamily deals. By partnering with others, he closed on an eight-unit property in Cincinnati.
“Commercial real estate lets me focus on what I’m good at—sourcing deals and building relationships,” Liam explains. “Plus, the value is based on income, not market comps, giving me more control.”
The Evolution: Moving into Retail and Industrial Real Estate
Liam’s latest pivot is into non-residential commercial real estate, specifically retail and industrial properties. These asset classes offer triple-net leases, where tenants cover most expenses, providing consistent cash flow with less operational hassle.
“Real estate is about maximizing returns on time and money,” Liam says. “Retail and industrial properties align with my goals by offering larger deals with fewer moving parts.”
Key Takeaways for New Investors
Liam’s journey highlights several critical lessons:
Start with Networking: Meetups are invaluable for learning, building connections, and gaining confidence.
Have Clear Criteria: Define your investment goals, but be open to adapting as you learn.
Focus on Process Goals: Measure progress by the actions you take, not just outcomes.
Be Willing to Pivot: Real estate strategies evolve—what works for you today might change tomorrow.
Want to Take the Next Step in Your Real Estate Journey?
If this post resonated with you, let’s connect! Find me on Instagram @cashflowsaga to chat about your financial freedom goals—I’d love to help however I can.
Looking for more resources? Download my free investing tools or explore my 1:1 coaching program, Rental Property Investing 101, to fast-track your success.
Stay committed to the journey, my friend. Your future self will thank you! 🚀
