54: Investing in Under $30k Real Estate, Working a Day Job, and Good Vs. Bad Neighborhoods with Lisa Phillips

Jan 23, 2014

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How much money does it really take to buy a rental property?

$200,000? $100,000? $75,000?

On today’s show, we are going to chat with Lisa Phillips, a real estate investor who buys real estate in the under-$30,000 range and achieves some incredible cash flow from her mostly-passive investing. Lisa shares some amazing insights into how she went from a personal foreclosure to owning several rental properties – bypassing the banks and investing creatively. If you are someone who is looking to get started investing with real estate investing without spending hundreds of thousands of dollars – this is the show for you.

Read the transcript for episode 54 with Lisa Phillips here.

In This Show, We Cover:

Investing in real estate while navigating the instability of day jobs
How going through a foreclosure changed Lisa’s financial future… for the better
Knowing when to call it quits
Tips for negotiating with creditors
What makes motivated sellers attracted to a certain real estate investor?
Tips for defining a good vs bad neighborhood
Finding a property manager who exceeds your expectations
How much does a good property manager charge?
Simple tips for attracting the best tenants to your rental properties
The positives and negatives of low-price investing
What crimes are acceptable?

Links from the Show

Books Mentioned in the Show:

Rich Dad Poor Dad by Robert Kiyosaki
The 4 Hour Workweek by Tim Ferriss

Tweetable Topics

“Be clear & upfront with what you can do for other people. What’s in it for them?” (Click to Tweet!)
“Landlords: never sacrifice your standards just to fill a vacant unit.” (Click to Tweet!)
“When looking to invest in real estate, leverage the power of the internet.” (Click to Tweet)

Connect with Lisa

Lisa’s BiggerPockets Profile
Lisa’s BiggerPockets Video Blog
Lisa’s website: www.AffordableRealEstateInvestments.com

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