Brothers Sam and Daniel Kwak were both in their early twenties when they scored their first rental deal in 2017 a portfolio of four single-family properties in Illinois. By the end of that year, they had accumulated 75 rental doors.
The Kwak Brothers
When they started working in real estate, Sam was 21 and Daniel was 19. They spent their first few years in the industry acting as the middleman for two types of people: those who had great deals but no capital and those who had capital but didn't have the time, knowledge, or team to get deals done.
"That's how we started learning, by doing," Daniel told Business Insider. Eventually, those connections led to their first deal. Then, they started going after multi-family buildings by raising capital from individuals looking for tax benefits and good solid returns on their money. By the end of 2017, most of the 75 rental doors they had accumulated were apartment units.
In an interview with Business Insider, the brothers walked through their story and laid out an eight-step guide on how to become a successful beginner landlord.
If you want to be a good landlord, Daniel said, you have to understand that it is a business, not a hobby. That means implementing a system, following steps, and being proactive instead of reactive.
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A step-by-step guide on how to get started as a landlord, from 2 brothers who began in their 20s and built a 75-unit portfolio in one year
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