Could rentals give YOU financial freedom? Today’s guest took a giant leap of faith to invest in real estate, and it allowed her to quit her low-paying W2 job in just five years. If you’ve yet to take the first step in your investing journey, this rags-to-riches story will inspire you to get off the sidelines and into the game!
Welcome back to the Real Estate Rookie podcast! Earning just $28,000 a year as a lab tech and struggling to pay rent on a property she didn’t even own, Deandra McDonald was determined to buy a house and enjoy the long-term benefits of owning real estate. But when her lender told her she couldn’t qualify for a mortgage, Deandra did what so many aspiring investors are unwilling to do—she cut out ALL unnecessary spending to pay off her debts, rebuild her credit, and save for a down payment. In just 18 months, she was able to buy her first house—all while working the same low-paying job!
And that’s just the beginning of Deandra’s story. After realizing that renting out a room in her new home could cover her mortgage payment, she caught the multifamily investing bug. Fast forward to today, and Deandra has built a multimillion-dollar real estate portfolio. Tune in to find out exactly how she did it and how you can copy her success!
In This Episode We Cover
The investing strategy that helped Deandra to quit her W2 job in just five years
How Deandra bought her first property while making just $28,000 a year
Fast-tracking your down payment by cutting unnecessary expenses
Leveraging your current properties to grow your real estate portfolio
The secrets to self-managing your properties (and keeping tenants happy!)
How to seamlessly pivot from single-family homes to multifamily investments
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-546
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