Today we sit down with Mr. and Mrs. Planting our Pennies, or Mr. and Mrs. PoP for short. Mr. PoP never wanted to be anchored to an inflexible job. Mrs. PoP never wanted to be financially insecure.
A reward trip to Hawaii after a good sales year at his job led Mr. PoP to the internet where he found Early Retirement Extreme and Mr. Money Mustache. Mrs. PoP ran the numbers and discovered that their target number for a mini-retirement really wasn’t that hard to reach. A few more calculations showed her they could work slightly longer and quit working their traditional jobs forever.
This episode truly showcases that anyone can achieve financial freedom. Small tweaks to your spending can yield huge rewards fairly quickly.
Wondering if you can reach financial freedom? This episode will show you how.
Listen here or on your favorite podcast app.
Looking forward to listening!
I learn a lot from your podcasts. Keep up the good work!
Hello David! In these times I would either Fix and Flip or Quick Flip. Rentals of Single Family Homes are usually no good as a rental and are just too risky. I have been studying about real estate investing for about 5 years, full time, 7 days a week.and would probably be investing by now but I'm bedridden with a couple medical problems right now. I had a broker license in Texas for about 30 years. I also went to college and I graduated from college with honors in business that emphasized real estate.
I have heard about 50/50 results on the pros and cons of SFH rentals. I have seen many people that wanted to buy SFH's and I don't know why. The more units the better. The need for experience to get into apartments is a myth. If you insist on SFH rental, reserve as much you can from the income to pay towards the turnover costs. One option would be to offer Lease Options on the discounted homes you buy.
Most of the successful SFH investors own at least 20 houses. Vacancies will not give so much pain with each unoccupied unit. Make sure their is great demand there and you have bought them in a growth area and that there are many other positive results in its location. Depending on intent to borrow money to make any purchase, You might have to form a Partnership to do apartments.
One of the things I like about apartment complexes is having multiple units at one address. Also, there's less competition to battle and the value of apartments versus SFH's sales comps versus income and how so much return on any upgrades by the Capital Rate. You get more for any dollars spent on rehabs or anything that adds-value. As cap rates go your looking at a 6 to 8 when considering any upgrade but also reflects area or a unit's strength. I hope some of this helps you.
Good luck to you!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you