Real Estate Rookie

378: Paying Off $100K in Debt with 3 Rentals Thanks to THIS Low-Money Strategy w/Dave Williams

Mar 11, 2024

Learn how Dave Williams paid off $100K debt with 3 rentals using low-money strategy. He shares insights on Denver market, 2-1 buydowns, renovation questions, and rental horror stories. Discover his journey from physical therapy to real estate, maximizing investment strategies, emotional impact of budgeting, real estate finance apps, reselling properties, and managing tenant turnover costs.

47:33

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Episode guests

Dave Williams

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Quick takeaways

Transition from traditional jobs to real estate for financial freedom and debt payoff.

Emphasizing strategic budgeting, property resilience, and positive tenant relationships in rental property management.

Deep dives

Property Investment and Financial Freedom Through Real Estate in Denver

Dave Williams and his wife, former physical therapists, realized the limitations of traditional jobs and turned to real estate for financial freedom. Using HELOCs, house hacking, and value-add strategies, they paid off $100,000 in debt and achieved freedom with just three properties in Denver. Their journey reflects a shift from W-2 reliance to living life on their terms.

Emotional Connection Fuels Budgeting Success

01:39

Learning Real Estate Investing Risk-Free

01:55

Introduction

3min

Transitioning from Physical Therapy to Real Estate Investing and Debt Reduction Strategy through Rentals

3min

Maximizing Real Estate Investment Strategies with Deal Machine and TurboTax

4min

Emotional Impact of Budgeting and Real Estate Investing Strategies

12min

Real Estate Loan Strategies and Finance Apps

8min

Strategies for Reselling Properties and Managing Tenant Turnover Costs

16min

Could rental properties help you switch careers, replace your W2 income, or get out of debt? According to today’s guest, yes! Once Dave learned of the flexibility that real estate investing could offer, he left his established career behind and never turned back!

Welcome back to the Real Estate Rookie podcast! Dave Williams and his wife were working as traveling physical therapists when they determined that their careers wouldn’t support the lifestyle they wanted. So, they turned to real estate and adopted an amazing strategy—one that allows them to buy a house every few years with low money down before eventually moving out and converting it into a long-term rental. By repeating this strategy, they have been able to build a small, local portfolio with cash-flowing, appreciating properties!

In this episode, Dave talks about the value of 2-1 buydowns and the one question you must ask before starting any home renovation project. Looking for a market to invest in? He even shares a list of the BEST neighborhoods in the greater Denver area. But like any investor, Dave has had a few horror stories as well. Stick around to hear how one of his rentals flooded not once, not twice, but THREE times!

In This Episode We Cover:

How Dave paid off $100K in debt with only THREE rental properties

Buying new properties with low money down and converting them into rentals

The one question you NEED to ask before making any home renovation

How to find properties that deliver cash flow AND appreciation

The BEST markets to invest in around Denver, Colorado

2-1 buydowns explained (and when you should use them!)

And So Much More!

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