House Hacking for Beginners: How She Built a Portfolio in Denver

Danielle Daly (00:00)
Right. Yeah, you hit the nail on the head and just like really to reiterate that, like someone who might be nervous about feeling like they can’t go to some sort of meetup unless they have information to share. People are interested in people who are interested. Right. Like people like you when you are just interested. So just go and just if you want to learn more about it, there’s gonna be people who want to share and who are excited to share. And if anything, you’ll just make some friends out of it and be able to learn the lingo

Cody Crabb (01:58)
Welcome back to the Real Estate Pros podcast by Investor Fuel. I’m your host, Cody Crabb, and today I’m talking to Danielle Daly. Danielle’s based in Denver. She works with BiggerPockets and she’s also built her own buy-and-hold portfolio through house hacking, co-living, and learning the real estate game from the inside. Danielle, I feel like we have a lot in common. We we understand each other. ⁓ thanks so much for hopping on the podcast today.

Danielle Daly (02:20)
Absolutely. Thank you so much for having me, Cody. Really happy to be here.

Cody Crabb (02:23)
Yeah. So ⁓ for people to do who don’t know you, ⁓ give us the quick version. You know, what do you do at BiggerPockets? What are you personally doing as as an investor right now?

Danielle Daly (02:31)
Yeah, so quick version, BiggerPockets. I’ve worked there for about five years. I work on the partnership sales team. So I do all things partnership related from event sponsorships to marketing. ⁓ anyone who basically wants to promote their business through us. I work on the team. It’s been great. And then in terms of just real estate investing, I live in the Denver area. And so I invest all in the Denver Metro. I have a few properties here and I specifically focus on co-living and house hacking strategies.

Cody Crabb (02:58)
Hmm. Cool. Well, so take me back to the beginning a little bit. we don’t have to like go over every little thing, but just so people kinda know, what you know, what made you go from the the the BiggerPockets world to to investing in real estate? I imagine some of it is you kind of can’t help yourself, ’cause I I definitely understand that. ⁓ but how did that happen? How did that transition happen?

Danielle Daly (03:19)
Absolutely. So of course I have to give so much credit to BiggerPockets. Right. Working there is just you like it’s hard not to drink the Kool-Aid. You’re working at a company that is teaching you how to build wealth through real estate. How who doesn’t want

Cody Crabb (03:31)
Like I said, I probably understand more than most d to be honest with you. That’s vet is very relatable, yeah.

Danielle Daly (03:37)
So you get it, right? Like it’s like that was definitely what spearheaded everything. But then the learning you do yourself, right? Of course, they’re not no one’s forcing us, no one’s like telling me to work here, you have to invest. But it just got me so interested. So I started to go to meetups, right? Just starting kind of from ground zero. Like I didn’t know I didn’t really know a lot about anything. I didn’t even really know the Denver area that well yet. So I wasn’t sure where to invest. And just going to meetups really helped me ask questions and meet people and find clarity.

Not just with the Denver market, but also understanding like, ooh, what are the strategies? How could I leverage ⁓ a mortgage, right? By renting out rooms to be able to save money when it would otherwise be more expensive for me to rent an apartment. I was like, why not own and spend less? It just seemed like a no-brainer. So that’s really where I started.

Cody Crabb (04:24)
Yeah. So ⁓ take me back. Do you remember that your first meetup you ever went to?

Danielle Daly (04:28)
That’s such a great question. I don’t remember the exact meetup or the day that I went, but I know it might have it might have actually been the Badass Real Estate Investors in Denver. So anyone who lives in this market would probably know about them. And then of course I’m sure BiggerPockets Meetup was also one of the first. But one of those, and I just remember being so like nervous. And I’m a very social person, but it’s just I didn’t know anything about real estate at all. So I was like, am I gonna get in a conversation where someone’s gonna ask me something and it would be like, I own no properties and I also have no money yet to buy that property.

Cody Crabb (05:02)
Yeah. It’s a little bit like a kid being like, okay, long day at the business factory, you know, like it’s you’re not saying anything. Yeah. ⁓ exactly. So how I would love to kind of know, you know, you you mentioned kind of before we started the the podcast, ⁓ you this kind of started because you you leveraged not in like a gross way, just like you took you you took advantage of the fact that you had some friends that had a a decent-sized network.

And it kind of just blossomed naturally from there. And so when I say leverage, it sounds kind of icky, like you get became friends with them just for that. But I just mean like that you saw that it was there and you’re like, Hey, this would be good to to take advantage of. Again, take advantage of. Sorry, I hate I hate those words. No, it’s it’s there and you wanted to you wanted it to to use it to help yourself. Let’s say that.

Danielle Daly (05:46)
Let me so I’ll took advantage of no one. ⁓ but no, just started going to meetups with two intentions, right? One was to learn about real estate. I was just pumped and excited to learn. And I learned through being around people and having conversations more than just a book or looking up online. So it’s like I know I need this in-person interaction to really soak it in and to understand. However, I was also new to Denver. I was about a year, maybe a little bit less than a year into Denver. I moved here from Florida.

Cody Crabb (06:10)
Yeah. wow.

Danielle Daly (06:14)
So I didn’t really know a lot of people. I had my best friend and a couple people that I knew just from college, but otherwise I didn’t really have my own friend group. So I wanted to go and meet people who were like-minded. And I’m very entrepreneurial and business-minded and ambitious. So I was like, okay, real estate meetups, I would imagine, are gonna be those kind of people. And so I already knew I wanted to meet friends and I really went in just learning and then trying to meet people who I who kind of vibed with. And I did find those people.

And then of course, once you find those people, it’s easier to talk about real estate because they’re also interested. And that’s how you learn. So it was just like a win-win all around of just being authentically open to the experience and just being consistent as well.

Cody Crabb (06:56)
And and that’s kind of what I mean when I say like the like leveraging. Like you weren’t literally like leveraging your relationship with someone. It you were actually doing the opposite. You found somebody who kind of understood what you were doing and naturally they would say, you gotta meet my buddy who’s doing that over here. Like it wouldn’t be something that that you would be getting out of them. It’d be of course you would and you would do the same for them, of course. so I think that’s I think that’s helpful for beginners to know. Like you don’t have to know anything to get into the door. ⁓ you don’t have to know the language, ⁓ and and that’s that’s how you do it. It’s with opa open mind, wanting to learn and making friends and stuff. Yeah.

Danielle Daly (08:22)
Right. Yeah, you hit the nail on the head and just like really to reiterate that, like someone who might be nervous about feeling like they can’t go to some sort of meetup unless they have information to share. People are interested in people who are interested. Right. Like people like you when you are just interested. So just go and just if you want to learn more about it, there’s gonna be people who want to share and who are excited to share. And if anything, you’ll just make some friends out of it and be able to learn the lingo when you go. You’ll like you’ll hear certain phrases and you’ll start to pick up on like, okay, like I get what people are talking about and ⁓ even learning the map of Denver Metro for my people who are, you know, my ⁓ my people who are just like a little bit challenged when it comes to like navigation. Yeah. I’m I’m just like

Cody Crabb (09:07)
They’re local. Yeah, of course they yeah, of course they know.

Danielle Daly (09:10)
They’re local. So I would hear certain cities and I’d be like, ooh, let me go look into that city. So it just was a good learning experience.

Cody Crabb (09:16)
Yeah, I feel so the f I remember the first time I went to kind of a a networking thing, just it was a bit like business-related thing, has nothing to do with real estate. But I remember being like, I feel like I have no idea what I’m doing. I’m like this young kid. Everyone’s gonna look at me like, I’m not gonna hire you because you’re this you know, you don’t know anything. But I I had someone at that first one that I went to had the advice of just go into it without any dis any pre pretense that you’re talking to talk about yourself. Do not mention yourself in any way and don’t bring it up. actually I do that. That’s that’s something I do. Like to to kind of sneak in. They said just ask people about their stuff and listen to them. And then like you said, ask act interested. And man, I cannot tell you how well that works. Like to a shocking degree. People love talking about themselves. And so asking questions, like people will and of course that obviously was gonna lead to how about you? How do you you know, what do you usually do? And and so that you they’re gonna open it up eventually ’cause they’re gonna feel like they’re talking about themselves too much. But ⁓ yeah, I love that. ⁓ something else that you mentioned before we started was ⁓ you started with house hacking, but you didn’t just do the kind of buy ⁓ buy a duplex and and live in half of it thing. ⁓ you you went to co-living. So how does how did that how did you arrive at that, first of all? But also like how do you manage that? It’s all the problems of single-family and all the problems of multi-family in one house. Yeah.

Danielle Daly (10:37)
That was beautiful way of putting that. Absolutely. yeah. So for for like anyone just getting started, really the the two terms are sort of interchangeable, but house hacking is typically used for you’re living in the property. So if it’s a duplex, if it’s a quadplex, if it’s a single-family, whatever, you are living in a portion of the unit or the house. Co-living is like you are now no longer living in it and you’re renting out each individual bedroom. That’s really kind of like the only nuance, but tip they’re, you know, kind of interchangeable.

So started off house hacking and it really for me, right, I was thinking of like, how can I find something affordable in the Denver market? So I’m like, all right, like an apartment is expensive. So if I want to own a property, which was the goal, I can live in a room. And running the numbers of renting out a few different bedrooms made sense. It not only made sense, but at the time, right, interest rates are a little different now. This was four years ago.

But at the time my interest rate was five point one percent. And running the numbers on that property, I was able to not just live for free. I made I think it was like I’d have to check my numbers, I think it was one hundred and fifty dollars that I cash flowed after all expenses. So I was

Cody Crabb (11:46)
Wow.

Danielle Daly (11:47)
Exactly. I was cool if it was negative like if I was spending a thousand, that still would have been cheaper than an apartment on my

Cody Crabb (11:49)
Of course, yeah. And not to mention the equity and all that stuff too. So

Danielle Daly (11:53)
Totally. And then like just your your second part of the question, ⁓ if I even fully answered it, but managing that, right? When you live there, it is a little bit easier. I’m there there’s some things that are a little bit of a struggle. I I do feel like sometimes you feel like a roommate and it feels a little bit weird to be the person who’s running the property and having to put their foot down or having to step in if there’s conflict or issues with the house or anything like that. But when you’re there, it is easy to manage. It’s simple, I should say, not easy.

Cody Crabb (12:21)
Yeah, it’s just your house. You’re just fixing stuff in your own house.

Danielle Daly (12:24)
Exactly. Exactly. It starts to, you know, once you grow and you move out of the house and you have to kind of release it as now a full rental property versus your baby, like my first house I treated like my child.

Cody Crabb (12:35)
You like try to buy it every day to make sure it’s not on fire and yeah. I could imagine that. Yeah.

Danielle Daly (12:40)
I know how you knew that, but yep, I definitely drew a bike.

Cody Crabb (12:42)
I was just picturing what I would do. That’s exactly that’s exactly what I would do.

Danielle Daly (12:47)
I did maybe a couple of months I’ll just check in at the house just to make sure it’s still there.

Cody Crabb (13:25)
Yeah, if if it’s gone, that’s a whole different set of issues. So I ⁓ I thi this is just a personal curiosity question. This is probably not a business question at all. I’ve always imagined if I was in that situation, I think I would be like like find my uncle or something or some person and be like, You’re the pretend landlord. You’re gonna act you’re gonna do everything in person, you’re just gonna act like the landlord. I’m gonna pretend like I’m one of these tenants. It’s like, that that darn landlord won’t fix the the he the boiler or something. Has do you do anything like that? Have you ever done anything like that? Has it occurred to you to do anything like that?

Danielle Daly (13:57)
Cody, great question. That is conver that’s a conversation that I’ve absolutely had with some of my friends in the space. I have friends who do that, right? They’ll hire someone else or they’ll have like whoever kind of like kind of be the liaison and the person who speaks.

Cody Crabb (14:10)
Property manager that really is just the yeah.

Danielle Daly (14:13)
Exactly. They’ll they’ll like not lie, but they will withhold the information when they’re house hacking that they are the landlord. I did not do that because really I have a lot of company. My family and my friends come to visit a lot. How am I gonna like my friends come over? I’m very social. I’m not gonna have someone come over and be like, my god, I love your house. Like it’s so beautiful or like whatever they say about it. Or like, it’s a shitty house. Like, whatever. Whatever they say about that.

Cody Crabb (14:26)
Love hiding it kind of thing. Yeah.

Danielle Daly (14:39)
⁓ I I just I would feel so uncomfortable lying. Like not I don’t think it’s lying. I think it totally makes sense if someone wants to withhold it. So I don’t want to use the word lie, but it felt ⁓ it didn’t feel right to me because I knew someone would say something about it.

Cody Crabb (14:52)
Well and you’d have to like cover it or whatever. Yeah, I understand the feeling. Yeah. Yeah. It’s not even you just people and people would perceive perceive it as a lie. So it would be like if you did get caught, it’s like sketchy. Super sketchy. Yeah, yeah. Just and that was that was purely just like I’ve always imagined that I would do that, but I’ve never really talked to anybody that maybe has. So I was I had to ask. so if if what do you what would you say is kind of the least glamor?

Danielle Daly (15:04)
Why are you lying? About like that would be kind of like a little

Cody Crabb (15:21)
glamorous part of the co-living arrangement. I mean it kind of sounds like you you get a lot of benefits. I mean the rents are obviously going to be higher. ⁓ I imagine some of it is kind of hey, this is awkward, roomy, but you haven’t paid your rent. I is it mostly around that kind of thing?

Danielle Daly (15:38)
Surprisingly, no, that’s very black and white to me. You don’t pay your rent. Like, this is this is not like a volunteering thing, right? Like, this is a a room that if you don’t pay it, I have to pay it. So that’s black and white. Rent is rent. Like I will they like everyone knows what the lease terms are when it comes to paying rent. I think the the thing that to me is the most tedious or uncomfortable, I would say are two things. One, filling as many rooms as I have to fill. It gets it gets kind of tedious, right? Like having two. ⁓ like post the room, have a phone call and vet them, meet in person, run a background check, send a lease, sign a lease, have them move in, and then it’s high turnover when it comes to color for the most part. That’s the most tedious, the most uncomfortable is when you’re living in the property and you have to handle conflict or maybe you don’t get along with a tenant. That’s absolutely happened to me where I’m very easygoing, but unfortunately there were problems with a tenant that I had to keep addressing. And you know, it just became a little bit uncomfortable having to come home after like having a conversation with a tenant and then sharing a bathroom with them. That is a little uncomfortable.

Cody Crabb (16:42)
kinda taking you never you never get away from work in that sense. Correct your house.

Danielle Daly (16:47)
Exactly. So it’s like it’s better when it’s out of sight, out of mind, and I can deal with a tenant issue by calling them and then I hang up and I’m in my own house. Like that luxury at this point, but totally worth it. And it only happens like it happened once or twice in my entire time in house.

Cody Crabb (17:02)
Well not to mention, I mean you’re you’re discussing house hacking is the definition of house hacking is that you don’t do it forever. It’s a it’s a means to an end. You you live in it temporarily and then you know, you just go you go do your thing. So that’s it’s not like you have to do that forever, certainly.

Danielle Daly (17:58)
I don’t think anyone could do that forever. I do not recommend anyone do that forever. Like do it, use it as a tool, strategy. You do it as long as you can, but it’s definitely not a forever thing.

Cody Crabb (18:08)
is there something about your market that you feel like ⁓ lent itself to co co-living that maybe single-family didn’t as much? Or like I imagine something like a college town or something like that would do well, but I mean I’d love your insight on that.

Danielle Daly (18:22)
Great, that’s a really great question. Yes, right. So markets are going to be different depending on where you’re at. Being in Denver, this is an expensive market, right? It’s one of the more expensive in the country. So that being said, it’s, you know, like this is a tool and a strategy that made it, ⁓ that made the numbers work. So if I was going to, for example, rent to a single-family, I would make probably on house $2,000 less per month. than I would co-living. It’s that drastic in terms of the numbers because it’s a six-bedroom house. So I’m renting out six bedrooms compared to just one family. So yeah, absolutely. It was like looking at the market, how do I make the numbers work? And you kind of have to, you don’t have to based on my strategy and how much money I wanted to make per month, that’s how the numbers worked for me is being able to rent out by the room. Now, whenever I can refinance more, I’ve already done one refinance, but whenever I can refinance the other two properties or when rents go up or the housing market shifts again in the next hopefully, you know, several few, several years, whatever, I definitely want to make some changes and eventually shift into single-family and renting out in that strategy. But right now the numbers are just they’re too fair.

Cody Crabb (19:35)
Yeah, I feel like I feel like it’s s maybe a little more hands-off in a in a good case for single-family. So I understand the logic of like, let’s make the money now. Let’s make the money now and then we can down the line we can it’s the same logic as house hacking, really. Just kind of let me just barrel down and do this for a year and then I can I mean I can I can picture it, you know, it in an expensive market, you’re twenty-two years old, you’re moving out from you know, you’re moving home in your t to your hometown from college. You don’t really want to move in with your parents again. Yep. I could totally imagine, you know, a scenario where it’s like, Well, hey, I could just live in a a co-living place here. ⁓ where do you typically find your tenants?

Danielle Daly (20:10)
Say 95% are from Facebook Marketplace. So I use Facebook Marketplace. And then there is a site called Roomies. Roomies can work. I definitely have had friends find tenants from Roomies. I’ve maybe found one, but it’s just it’s more ⁓ it’s more proactive. It feels like a sales role. Like you need to reach out to people and send memo or send messages and and kind of like find people, right? Like prospect, so to speak. Yeah. Well, Facebook Marketplace, I can make the listing, people reach out to me. it’s just a little bit easier. And that’s that’s absolutely been where I found most of my my tenants.

Cody Crabb (20:46)
Yeah. Yeah. Okay. So as far as we’re we’re kinda running out of time here, but I’d love to know kind of what do you think ⁓ if someone has a house, you know, their city they just are they’re looking at ⁓ renting it and they’re kind of thinking now, hearing this, hey maybe maybe ⁓ this this would be a good strategy for me. ⁓ what would you say are attributes of a property that would make it which would lend itself better to co-living. Parking comes to mind immediately, but I’m sure there’s ones I’m not even thinking of.

Danielle Daly (21:18)
that’s also a great question. So yeah, parking, right? That’s a great one to start with. It’s just making sure you have a decent amount of parking. Like you don’t need a crazy huge driveway or anything like that. But do you live in an area where there is ample street parking, right? Like where you are able to find spots for potentially several people with no issues from neighbors, right? Like parking in front of a neighbor’s house or something like that. So I would say that. And then another thing that I see a lot, at least in the Denver area, I’ve seen a lot of houses and toured a lot while I’ve been, you know, during the hunt for a house, right? I said end up seeing a lot of them. So in Denver specifically, you would want to make sure you’re not having to like go into a basement and like a laundry room, like pass a laundry room to get into a bedroom. I see a lot of those unique situations. So like obviously you’re not gonna want to you’re not gonna want to pass a tenant’s room or like interfere with them to do laundry. Right. So like to make sure there is enough space in between to that people have like a little bit of their own their own area, so to speak.

Cody Crabb (22:13)
Like common rooms a little bit.

Danielle Daly (22:14)
Yeah, definitely want to look for common rooms. So, like I love anything with a basement to be able to have that separation of space, right? Even for the tenants. So I have a house that’s a six-bedroom house. So kind of need two living rooms. It’s a lot of people in one house. So having that separation makes it feel like, okay, it’s a unit of three and a unit of three. And then just share the kitchen. Like that’s kind of how it feels. So just making sure there’s enough designated space for that. And then another thing to consider, this is like really small stuff to get kind of granular, but even refrigerator space. I’ve ac I’ve actually had issues with that. I’ve had to buy a second refrigerator, ⁓ like a mini-fridge, not a full size, but I’ve had to expand pantry space in the kitchen, right? For food.

Cody Crabb (22:56)
Well yeah, if you’re talking about that many people, I mean I’m thinking about just what I would have personally in a house like that, and I’m like and multiply that by six. That’s kind of nuts actually.

Danielle Daly (23:05)
Exactly. So it’s little stuff like that, right? Even storage space. So none of my well, one of my houses has a garage and it’s the house I live in. So I don’t I only rent to one person in my house and it’s my brother. So maybe that’s kind of a cool situation now. Luxury house hack, so to speak. So in my other two houses there’s no garage. So I needed to actually purchase a shed, right? So I had to get a shed outside for people to be able to store things. So it’s like extra storage space is really how I would think about it, and then making sure.

Cody Crabb (23:19)
Yeah, exactly.

Danielle Daly (23:32)
enough bathrooms, right? How many people are sharing a bathroom? I think three is like the next, right? If we start to get any more than that, that’s just I think too many people. I don’t think anyone would be interested in sharing a space of more than, you know, two to three people. Yeah.

Cody Crabb (23:47)
Yeah. As as someone has who grew up doing that, I yes, do not do not do that. Do not put your tenants through that. It is the worst. ⁓ yeah. But well that’s that’s exactly the reason I like talking to people like you, because I would never have thought of the whole like walking past someone’s room to get to the lawn like not having a central location that branches off into the rooms. Like it it seems so simple when you say it, but like now that I’m thinking about it. That would be a nightmare for certain kinds of properties. Like I’m thinking of the house I’m sitting in right now. It wouldn’t it would just would not work for that. There’s no outside entrance in the basement. Like things like that. I just feel like that would be so you’d have to walk past so much to get to it. So I I appre I appreciate your insights. ⁓ that’s I think that’s really great. ⁓ you’re around newer investors all the time, I imagine, through BiggerPockets. ⁓ what do you think beginners kind of overcomplicate the very most as we’re kind of closing out here?

Danielle Daly (24:39)
There’s a couple things. I think one of and this is just my own personal experience, right? Like I do not come. Yeah, I I don’t come from a financial background. Some people might. They might be super excited about the analysis and running the numbers and comps in the area for like rental comps, things like that.

Cody Crabb (24:44)
For money, You’re naming everything I hate about like all the all the things that the all the downsides, yeah. Yeah.

Danielle Daly (25:01)
So I I it’s not like I I would not say so strongly that I like hate the financial aspect. I would just say it’s not my strong suit. It’s not something that I typically find very easy, like e like succumb to me as easily. However, I do think that a lot of people are overcomplicating the analysis. And we call it, I think the industry as a whole calls it, but of course at BiggerPockets, it’s like analysis paralysis. You are analyzing things to the point where you feel like you need to have like a development model for you to get a single-family home. Like we don’t need to create this like financial model that is so like like ⁓ robust, right? What are like go you literally even just use chat, go to BiggerPockets, go find a video or resource on it. Running the numbers in a property is simple. I say simple, I’m not saying it’s like easy to everyone, but it’s simple. Find the things that are the big expenses, right? Like obviously your mortgage, your operating expenses, your capex, vacancy. What is it going to cost if you ever hired a property manager? Like these things are common sense when you really sit down and and figure out like what does a property need? What is it gonna cost me to live in this property and how much rental income can I get both when I live in it and when I move out? Right. So you can kind of simplify the finances, but I do think for new investors, that absolutely can be complicated. And I recognize that because it it was for me. But I just tried to simplify it. And then it like I thought in my mind, like worst-case scenario. While I’m living here, if the numbers are not perfect, when I move out, I’m gonna have another room. I’m gonna have more income available. So yeah, like it just and then there’s always refinancing, right? These are just sort of like backup options in my mind. As long as I can afford with my current job the rent, we can make the numbers work. So anyway, that’s my end of rent.

Cody Crabb (26:42)
I love I no, I love that because I’m thinking of a an analogy. Like I don’t know, you’re you want to be in musicals or plays or something, right? So when you audition for your very first play, no matter how much you’ve studied beforehand or stuff, you’re gonna learn so much more from being in that first play than you could ever learn outside of outside of a stage. Then when you go to audition for your second play, you’re gonna be well prep way more prepared than you were before. ⁓ you’re gonna know stuff that you didn’t know before, and on top of that you know, you’re gonna have this insight that there’s just no other way to get. And so I I think I I think I o the the advice I hear the most often is like start start small, but start. Like do s do something because without starting, you’re not gonna be able to l even if you fail, that will teach you more than doing this big long drawn out education process that will cost you probably more money in the long run.

Danielle Daly (27:34)
So happy, Coda, that you mentioned that. Just like even to reiterate your point, right? Because what you said is so powerful for new investors. When you are getting started, your first property, think of it as you paying for your master’s or paying to go to school, right? Like you are absolutely going to learn more in that first property of you being able to rent by the room and finding tenants and knowing the expenses. Like you’re gonna know what a property entails, right? Like how what it takes to take care of a property. And then once you know that. Expanding to multi-family, like I’m not in it yet, but in my mind, multi-family is the same as me doing a co-living property. It’s the same thing. You’re just managing

Cody Crabb (28:10)
Yeah, you’re like you have separate rooms? Yeah, that’s amazing.

Danielle Daly (28:14)
I think the only more complex thing would be like, all right, instead of one refrigerator, I would have several, like whatever. Like th those type of things. You would just be repeating what you’re already doing with the first property. So get in there, get started, and obviously make sure that you save enough money. Like I’m not saying go buy property and then have zero dollars left to your name. Stuff’s gonna pop up, right? Like we need to set ourselves up a little bit. But also don’t overestimate what you need saved, right? Like, I I don’t know, I don’t I don’t keep more than I think when I first got my house I had like eight thousand dollars left to my name afterwards. And I knew I could save more throughout the year because I was saving on rent. But like get in there. Take a it’s a little bit of a risk. You have to understand that, right? This is not

Cody Crabb (28:54)
Yeah, the whole thing you’re not gonna earn anything if there’s no risk at all. Exactly.

Danielle Daly (28:59)
To not take any risk. You would just be standing still, doing your day to day, not building wealth if you take literally no risk.

Cody Crabb (29:06)
And that’s what you’re doing right now. So Yeah. I I love I really love that mindset of like it’s think of it as you’re paying for your degree. Because we don’t we don’t say, ⁓ don’t do that. It’s risky. Even though it probably it’s are arguably a little more risky than than something like this where you actually could potentially get a return. ⁓ but it’s I think that framing it that way is so helpful because that’s that doesn’t seem like a waste, does it? It seemed like you’re it just think of it like that money’s gone. I spent it. And if I lose all of it, then it’s my it was my education. ⁓ that I thank you so much for all the insights you’ve given us. I think this has been a really good episode. ⁓ for someone who’s kind of ⁓ who who’s here in this and they wanna get in touch with you, work with you ⁓ in some way, ⁓ connect with you, how can they do that and find you online? ⁓

Danielle Daly (29:52)
Absolutely. Well, I I would love to connect genuinely. Like please, for anyone who wants to DM message me on LinkedIn, reach out to me. Danielle Daly is my LinkedIn. So you’ll see in in the show, in the show notes, how to spell my name correctly. Just look me up on LinkedIn or my Instagram is Danielle F Daly. So just go look me up. Would be happy to connect. Have one a call if you’re in the Denver area. We can meet up. But I’m really passionate and excited to help anyone and to learn from other people as well. So definitely.

Cody Crabb (30:19)
Fantastic. Well, Danielle, thank you so much for giving us some time today. And listeners, thank you as well. If you liked what you heard today, give us a like, subscribe, comment, retweet, follow, all the all those things. And don’t forget to listen to more episodes to get more conversations like this one. Once again, Danielle, have a good one. Thank you, and we’ll see you next time.

Danielle Daly (30:37)
Thanks, Cody, appreciate it.