Do you need to be rich to buy a rental property? Arguably, no. In reality, you don’t need a lot of experience, know-how, or cash on hand to buy your first income property. But, you need to at least be resourceful, take advantage of your opportunities, and have the tenacity to follow through on your goals. If you have all those qualities, you may be a great real estate investor, or maybe you’re today’s guest, Erika Brown.
Erika wasn’t raised by real estate investors. No, this was a skill she had to learn completely on her own. In fact, she learned the real estate sales skill without even knowing it! When Erika moved to a new neighborhood in the Atlanta, Georgia area, she was consistently convincing friends to buy properties around her home. She passed these leads along to a local real estate agent until she realized she was casually handing over six figures in commissions.
So, she went ahead and got her real estate license, and later turned a pocket listing into her first real estate investment. From there, she saw a profitable path laid out, all she needed was the partners, lending, and work to actualize it. Now, Erika is sitting on a sizable real estate portfolio, building purposeful and profitable businesses so she can employ members of her community and lead the wealth generation movement in her circle!
In This Episode We Cover:
When part-time agents should make the jump to full-time work (and how to do it)
Quitting the corporate lifestyle to take on more risk as a real estate investor
Cashing out retirement accounts to fund your first (or next) deal
Getting around common real estate roadblocks that lead rookie investors to fail
Having a “purpose-first” business model so you can build wealth and upgrade your community
Why every investor must “do what the wealthy do” to succeed in real estate
And So Much More!
Links from the Show:
BiggerPockets Website
BiggerPockets Podcast
BiggerPockets Live Q&A
BiggerPockets Conference
BiggerPockets Forums
TEDx Talks: How to Succeed at Doing Anything | David Greene | TEDxRoseville
Airbnb
MLS (Multiple Listing Service)
The Last Dance - A docuseries that chronicles the rise of superstar Michael Jordan and the 1990s Chicago Bulls
Peerspace
Facebook Groups
Check the full show notes here: https://www.biggerpockets.com/show572
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