Efficient Management of Rental Properties

From bankruptcy to financial freedom in just ten years?! Today’s guest is living proof that past money mistakes don’t disqualify you from building wealth with real estate. Whether you’re neck-deep in debt or struggling to save, you’re only ever a few steps away from taking control of your financial future!

Welcome back to the Real Estate Rookie podcast! By 2014, Diem Martin had filed for bankruptcy. Ten years later, she has achieved financial freedom with eight doors across four properties and has a $1.2 million net worth. How did she do it? She used the same investing strategy that so many newbies use to break into real estate—house hacking. Each new property allowed her to save for her next down payment, and in just eight years, she had built her entire real estate portfolio. If she can do it, you can too!

Stay tuned if you want to learn how to get pre-approved for a loan after a major financial incident, as well as how to invest in an expensive market without a ton of money. You’ll also learn why you should always make sure a property will cash flow as a long-term rental before buying it. We even dive into financial independence retire early (FIRE), determining your FI number, and how to reach your goal as soon as possible through real estate!

In This Episode We Cover:

How Diem went from bankrupt to financially free in just ten years

How to buy a rental property in an expensive market without a lot of money

Why you must make sure an Airbnb works as a long-term rental before buying it

Boosting your house hacking cash flow by creating units on existing properties

How to get pre-approved for a mortgage after a dent in your credit

Financial independence retire early (FIRE) explained (and how to get there!)

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

Join BiggerPockets for FREE

Diem’s Instagram

Buy the Book “The House Hacking Strategy”

Find an Investor-Friendly Agent in Your Area

See Ashley and Tony at BPCON2024 in Cancun!

Can I Get a Loan After Filing for Bankruptcy?

(00:00) Intro

(00:59) Bankruptcy to Buying a House

(06:24) Choosing Bankruptcy & FHA Loans

(12:46) First Deal & Current Portfolio

(18:04) Changing Strategies & Managing Rentals

(24:34) Chasing Financial Freedom

(32:06) Never Stop Learning!

(34:27) Connect with Diem!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-449

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