BiggerPockets Real Estate Podcast

Buying ONE Rental Changed My Life: 4 Years Later, I Quit My Job

Apr 7, 2025

Join Deandra McDonald, a financially independent real estate investor who transitioned from teaching to full-time investing in just four years. She shares her journey of starting with just $4,000 and a single townhouse, overcoming rejection from lenders, and how one property changed her life. Discover her unique focus on overlooked rental properties, her strategies for converting motels into lucrative rentals, and why paying off mortgages is a key goal. Deandra’s insights show it’s never too late to transform your financial future!

38:51

Episode guests

Deandra McDonald

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

One rental property can catalyze financial independence, shifting from a demanding job to a life of freedom and flexibility.

Overcoming obstacles like loan rejections and debt is crucial for prospective investors, emphasizing perseverance and financial stability before scaling.

Deep dives

Starting the Real Estate Journey

A successful real estate investing journey can commence with the purchase of just one property. The guest in the podcast, who began with an $85,000 house, leveraged her financial situation by living with roommates to offset her mortgage costs. Her initial investment was modest, with only $4,000 in cash, which not only allowed her to cover living costs but also provided an avenue to start building wealth through real estate. This foundation set the stage for her significant growth, ultimately leading her to a portfolio of 10 units in a matter of years.

Intro

2min

From Rejection to Real Estate: A Journey of Growth

9min

Transitioning from House Hacking to Diverse Rental Strategies

4min

Navigating Real Estate Challenges

7min

Turning a Motel into Rentals: Renovation Journeys and Investment Strategies

5min

Investing in Motels: Strategies and Insights

11min

Just buy ONE rental property and watch your life change. Today’s guest was working multiple jobs, and a single property purchase allowed her to finally free up her weekends and regain some freedom in her life. The best part? She did it with just around $4,000, then repeated the process again and again, leading her to quit her demanding teaching job in just four years! Today, she’s describing exactly how she did it!

Deandra McDonald called a lender, expecting to get a preapproval for a home. What actually happened? They told her, “No. Come back when you have more money, better credit, and less debt.” She hustled for two years, saving, working more, and paying off debt. She finally secured a loan for her first property, a two-bedroom townhouse that would change her life forever.

Now, she’s a financially independent real estate investor, no longer tied to her teaching job, and investing in completely overlooked “rental properties” that produce killer returns and allow her to live job-free. These properties are still largely ignored, but Deandra says it’s not too late to take advantage of them and escape your W2 job, too!

In This Episode We Cover:

How getting just one rental property can lead you to financial freedom in under a decade

Why you CAN NOT give up when a lender tells you “no” for a home purchase

The overlooked rental properties that you can buy at a MAJOR discount

Why Deandra wants to pay off her mortgages instead of scaling to a huge unit count

The easiest way to start investing in real estate that requires the least money possible

And So Much More!

Links from the Show

Join BiggerPockets for FREE

Let Us Know What You Thought of the Show!

Ask Your Question on the BiggerPockets Forums

BiggerPockets YouTube