This episode features Ricky Phung.
Ricky and his wife had saved up enough and were looking for their first home together. As they scoured Los Angeles in search of the right fit, they came across a duplex that caught their eye. They began crunching the numbers and realized, “Hey…wouldn’t it be awesome if we had tenants that paid our mortgage down for us?”. Well, in the end the answer to the question was “yes” :), and their House Hacking journey began.
I loved getting Ricky’s perspective because he didn’t purchase that property as a Real Estate Investor, per se. He wasn’t an active investor looking for an off-market deal. He was a young guy looking for his first single family home with a Real Estate Agent in one of the most expensive cities in America. And he was able to find an incredible deal that today (they’ve moved out at this point) is on track to get them 1/3 of their way to their retirement goal. That’s amazing!
Ricky offers a really refreshing perspective and provides some really valuable insight because of how his investing journey began. He truly started from ground zero, and there’s a TON to learn from people who are willing to share that experience.
I hope that in this interview you find practical insights that you can learn from, or directly apply as you continue on your own journey in Real Estate.
I hope you enjoy my conversation with Ricky!