59 min listen
454: Retiring in 2 years Through “Aggressive” Rental Property Investing with Rachel Richards
454: Retiring in 2 years Through “Aggressive” Rental Property Investing with Rachel Richards
ratings:
Length:
64 minutes
Released:
Mar 25, 2021
Format:
Podcast episode
Description
Retiring via passive income is why most people get into real estate, but rarely does someone accomplish that goal within just two years! Rachel Richards, real estate investor, agent, and author of Money Honey shares her story of aggressive real estate acquisition. All purchased, by the way, with at least 20% down!While her friends in high school may have been reading for fun, Rachel was reading Rich Dad Poor Dad and trying to find the best way to become financially free. After she graduated from college she took jobs where she felt underappreciated and at some points, humiliated. She realized that this was not the path she would go down, and started investing shortly after in 2017. By 2018, Rachel and her husband had acquired 38 doors. Yes, you heard that right, 38 doors in under two years!These rental properties allowed Rachel and her husband to retire, as they were making six-figure incomes solely from their properties alone. This didn’t mean two years in she was still a rookie. Far from it actually. Rachel had to systematize her rental properties as much as she could within those two years so she could manage them long distance without having huge headaches along the way.Rachel shares some interesting stories, from turning a duplex into a short-term boarding home, to catching her property managers stealing over $6,000 from her. She’s learnt a lot and put her knowledge into her books Money Honey and Passive Income, Aggressive Retirement, both of which may help you get to where she’s at now!In This Episode We Cover:Understanding how important financial independence is to your lifeDismissing limiting beliefs that you can’t or shouldn’t do somethingSeller concessions and how you can use them to get more money at closing Why being too frugal may lead you to lose more money in the long runSystematizing your long distance real estate investingAnd SO much more!Links from the ShowBiggerPockets ForumsBe a guest to the podcastCutco CutleryBiggerPockets Podcast 416: 29-Year Old Making Nearly $1M in Passive Real Estate Income (3 Years In!) with Matt OnofrioBiggerPockets Podcast 418: 14 Deals in 16 Months: How Alex Camacho Found his Mastery in Deal FindingBiggerPockets Podcast 320: Hands-On BRRRR Investing and DIY Secrets with Instagram Star Brittany ArnasonBiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl YarberCheck the full show notes here: http://biggerpockets.com/show454See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Mar 25, 2021
Format:
Podcast episode
Titles in the series (100)
#3: Getting Started in Real Estate and Raising Money with Brian Burke: In today's show we talk with Brian Burke, a house flipper and real estate investor from Northern California with a fantastic story and fascinating business model. Two days ago, Brian wrote a wildly popular article on the BiggerPockets Blog titled,... by BiggerPockets Real Estate Podcast