A real estate investor shares how he grew his income from $28,000 to over $1 million in just 4 years through a combination of rental properties, house flipping, private money lending, and passive syndications
In just four years, Dan Rivers has built a 16-unit, 12-property portfolio worth $2.7 million.Rivers did this through strategies that included home flipping, rental income, and syndication.
Without having any connections in Charleston, Rivers made just $28,000 his first year working as a realtor in 2018. But through a combination of strategies, including flipping, private money lending, and rental properties, by 2022 Rivers' gross revenue before costs was well over $1 million, as verified by Insider through tax returns.
A"pivotal moment" for Rivers came after he began further immersing himself into Charleston's local real estate investing community by attending regular meetups and networking events. That's when he decided to become more actively involved through not only private money lending, but also home flipping and wholesaling.
When Rivers had scaled to around a dozen flips a year, in 2020 he decided to found his comprehensive real estate services firm, Rivers Capital Group. Depending on the market, Rivers estimates that he now flips between 10 to 15 homes a year., Rivers borrowed around $180,000 to finance the deal, which helped account for the home's purchase price of $106,500 and some of the renovations costs.
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