Podcast Summary: How to Invest in Real Estate WHILE in College (It’s Possible!)

BiggerPockets Real Estate Podcast | Host: Dave Meyer
Guest: Daniel Kaplan
Date: October 20, 2025

Episode Overview

This episode explores the challenges and rewarding strategies behind investing in real estate as a college student. Host Dave Meyer dives into the inspiring journey of Daniel Kaplan, a recent University of Wisconsin graduate who kickstarted a profitable real estate portfolio—all while living in a fraternity house. Daniel shares the actionable steps he took, the obstacles he overcame (like lack of experience and capital), and practical advice for young or new investors looking to start early and scale effectively.

Key Discussion Points & Insights

1. Daniel’s Entry into Real Estate: From Flipping Sneakers to Section 8 Rentals

• Early Entrepreneurial Spirit:
  • Daniel started out by flipping sneakers in high school, making $10-30K.
  • “I was stoked. And for me, as I was getting closer to college, I wanted to figure out what was that next jump I was going to make.” — Daniel (02:17)
• Inspired by a Friend:
  • A friend introduced Daniel to a YouTube video about Section 8 real estate investing and its high returns.
• Initial Education:
  • No family background in real estate; Daniel and his partner turned to BiggerPockets for foundational knowledge.
  • Chose Birmingham, Alabama for its affordability, growth, and Section 8 demand despite neither having visited the state.

2. Overcoming Lack of Experience and Building a Remote Team

• Team Building:
  • Cold-called agents in Alabama, eventually finding Amanda, an agent who became a cornerstone for their team.
  • Amanda helped connect them with local lenders, contractors, and handymen.
  • “We used Amanda as that key piece to then build the team around us and really piggyback off of her experience there.” — Daniel (04:39)
• Key lesson:
  • Sell your story and energy; people may invest in your drive, even if you lack experience.
  • “I don't see it as a disadvantage of you being young and in college. Use that to your advantage.” — Daniel (14:22)

3. Finding and Analyzing Deals as a Beginner

• Their Buy Box:

  • Targeted 3-bedroom houses, under $10K rehab, more turnkey if possible, and max 1,500 sq. ft.

• Volume Is Key:

  • Analyzed 80-90 deals in ~3 months before purchasing their first property.
  • “Volume negates luck. We knew that we just needed enough times at bat...” — Daniel (07:23)

• Using Tools:

  • Leveraged the BiggerPockets deal calculator to underwrite deals quickly.

4. Buying Sight Unseen & Remote Investing Confidence

• Never Visited the Property:
  • Even after acquiring almost 10 Birmingham properties, Daniel has never visited Alabama.
  • Confidence built through trust in their local team, virtual walkthroughs, and a cushion in the deal’s economics.
  • “We just knew we had to take action and we were confident in our team, in the systems and people we put in place...” — Daniel (13:34)

5. First Deal Details & Scaling Up

• Acquisition & Returns:

  • $20,000 went towards a property that, after minor rehab and Section 8 leasing, grossed $1,300/month with $600/month cash flow (28% cash on cash).
  • Built-in $20-$30K equity at purchase.

• Accounting for Reality:

  • Recognized the importance of factoring in vacancy, repairs, and CAPEX (40-45% operating expense on rent for underwriting).
  • “We underwrite pretty conservatively now with every asset...” — Daniel (17:52)

• Section 8 Headaches:

  • Lease-up periods stretched from 3 to 6 months due to slow housing authorities.
  • Rent estimates from authorities are typically best-case — better to underwrite with 10% reduction and expect extended vacancies.

6. Active Income: The Path to Portfolio Growth

• Wholesaling:
  • After first deal, cash was tight; Daniel pursued wholesaling for active income and skill-building.
  • Took 6 months to land the first wholesale deal.
  • “Six months, eight hours every single day to make like a 12 grand check... maybe like three bucks an hour if you waited out.” — Daniel (26:53)

7. Expanding to New Markets: Milwaukee and Beyond

• Scaling Portfolio:
  • Grew to 99 units (as of the episode) across Wisconsin, Texas, and Alabama.
  • Diversified out of Birmingham as Section 8 lease-up times increased.
• Copy/Paste Team Building:
  • Used prior experience and credibility to build teams faster in new markets.
  • Visited Milwaukee properties in person, benefitting from local proximity and lessons learned.
• First Direct-to-Seller Deal:
  • Closed on a Milwaukee duplex via cold calling, showing evolution from first sight-unseen purchase to more direct negotiation skills.

8. Advice for College & Early Investors

• Don’t Be Afraid to Reach Out:
  • “Try and have as many conversations as possible. You want to obsess over all things real estate and try to talk to as many people as you can...” — Daniel (29:37)
• Find Mentors/Partners:
  • Leverage the experience of others; let them talk you out of bad deals or help you spot opportunities.
• Active Income is Essential:
  • Real estate requires active income initially, regardless of what “passive income” hype claims.
  • “That’s what I always tell people... You're going to have to find some active income to be able to pursue a portfolio, even if you're buying relatively inexpensive properties.” — Dave (31:36)
• Use Advantages of Youth:
  • Flexible schedules, few obligations, more time and energy—these unique advantages in college are a “now or never” opportunity.
  • “There’s no better time than now when you don’t have obligations, when you have that free time and you’re young and you’ve got energy...” — Daniel (33:50)

Notable Quotes & Memorable Moments

• “Volume negates luck. We knew that we just needed enough times at bat until we found that deal.” — Daniel (07:23)
• “We have still to this date never even seen the property. And I think now I bought almost like 10 properties in Birmingham and still have never even been to the state of Alabama.” — Daniel (13:20)
• “Try and have as many conversations as possible. You want to obsess over all things real estate... those individuals are the ones that are going to help you.” — Daniel (29:37)
• “I don't see it as a disadvantage of you being young and in college. Use that to your advantage.” — Daniel (14:22)
• “I’m not big on door count, but, man, you got to get to 100. If you’re at 99, you just got to get that next one.” — Dave (35:14)

Timestamps for Major Segments

• 00:00 — Episode Introduction & Daniel’s Background
• 03:03 — Choosing an Out-of-State Market, Team Building
• 05:36 — Defining Their Buy Box & Property Analysis
• 06:49 — Underwriting Process and Lessons Learned
• 13:20 — Buying Sight Unseen; Building Remote Trust
• 16:35 — Deal Returns and Adjustments for Real-World Expenses
• 18:39 — Section 8 Headaches and Honest Underwriting
• 25:01 — Portfolio Growth: New Markets and Scaling
• 25:58 — The Wholesaling Grind for Active Income
• 29:37 — Advice for Younger/New Investors
• 33:23 — Advantages of Starting in College
• 34:44 — Daniel's Current Portfolio & Future Goals

Takeaways for Listeners

• Start Young: Utilize your flexible schedule and high energy to tackle learning and networking.
• Team is Everything: Find one key partner in your market and leverage their network.
• Be Persistent: Success came after analyzing 90 deals, not nine.
• Expect Challenges: Build in plenty of margin for delays and surprise expenses, especially in programs like Section 8.
• Active Income Fuels the Fire: Don’t expect rental cash flow to solve everything in the beginning—find ways to generate income.
• Leverage Help: Ask for honest feedback from experienced mentors.
• Investing Is Possible—Even in College: Daniel’s journey proves that with hustle, resourcefulness, and the right team, you can build wealth while still in school.

For more real estate advice, visit BiggerPockets.com or check out new episodes every Monday, Wednesday, and Friday on your favorite podcast platform.