Quote · BiggerPockets Real Estate Podcast
I Started Investing with Just $7,500. Now I Own Millions in Rentals
Where this was said
Remington's Background: Rifle Team, JPMorgan, and the First House Hack
At 4:35 · chapter starts 1:58
Remington's story starts in an unexpected place: a rifle team scholarship to Ohio State, where he majored in finance. After graduating, he landed a typical analyst job at JPMorgan, but his entrepreneurial instincts never settled. When his apartment lease ended, he and his roommate — splitting $300/month each in a roach-infested apartment to save money — decided to stop paying rent to someone else. They bought a $330,000 duplex in Columbus, renovated the other side themselves, found another tenant on Craigslist, and ended up making about $50 per month while living essentially for free [1] — Remington Lyman "First duplex cost $330,000 in 2017: Remington's first duplex in Columbus, Ohio cost $330,000 in 2017, which he and his partner considered e…" 03:58 . It was a classic, scrappy first step — but it set the template for everything that followed.
Remington and his college roommate split $600/month rent in a roach-infested apartment to save up for a duplex down payment. Within months they had their first property and were living nearly rent-free while building equity.
Remington Lyman started his real estate investing journey with only $7,500 to his name, purchasing his first duplex via a house hack with a roommate.
Remington's first duplex in Columbus, Ohio cost $330,000 in 2017, which he and his partner considered expensive at the time.
After working extremely hard at JPMorgan, Remington received only a 2% raise — the equivalent of an inflation-matching bump — which motivated him to invest in real estate.
While working full-time at JPMorgan, Remington grew his portfolio to 10 rental properties before being laid off in 2019.
