Episode #1105
Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations:
https://resimpli.com/biggerpockets?utm_source=bigger_pockets&utm_medium=youtube_qr_code&utm_campaign=real_estate_show
Episode Show Notes:
https://lnk.to/biggerpocketsYT
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
Let Us Know What You Thought of the Show!
https://www.BiggerPockets.com/Podcastfeedback
Grab the Personal Finance Classic, “Rich Dad Poor Dad”:
https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
Sign Up for the BiggerPockets Real Estate Newsletter:
https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none
Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
A Better Retirement After Buying Just ONE Rental (and Never FOMO-ing):
https://www.biggerpockets.com/blog/real-estate-1024?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Deandra:
https://www.biggerpockets.com/users/deandram1?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Dave:
https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Just buy ONE rental property and watch your life change. Today’s guest was working multiple jobs, and a single property purchase allowed her to finally free up her weekends and regain some freedom in her life. The best part? She did it with just around $4,000, then repeated the process again and again, leading her to quit her demanding teaching job in just four years! Today, she’s describing exactly how she did it!
Deandra McDonald called a lender, expecting to get a preapproval for a home. What actually happened? They told her, “No. Come back when you have more money, better credit, and less debt.” She hustled for two years, saving, working more, and paying off debt. She finally secured a loan for her first property, a two-bedroom townhouse that would change her life forever.
Now, she’s a financially independent real estate investor, no longer tied to her teaching job, and investing in completely overlooked “rental properties” that produce killer returns and allow her to live job-free. These properties are still largely ignored, but Deandra says it’s not too late to take advantage of them and escape your W2 job, too!
0:00 Intro
1:24 No Money, No Credit, Now What?
6:52 Starting with Under $5,000
11:11 Investing While Teaching
16:35 Buying 10 Units…For $160K?
19:42 Renovating 10 Units Herself
20:33 Most Underrated Rentals
23:58 Pay Off ALL Mortgages!
26:27 Who Should Do This?
27:56 This Could Be Huge!