BiggerPockets Real Estate Podcast 30 Units in 7 Years by BRRRRing, Building, Flipping, and Going All-In
Oct 7, 2024
Deba Douglas, a former assistant principal turned real estate investor in Dallas, shares her remarkable journey to financial freedom. With over 30 rental properties in just seven years, Deba reveals how a chance encounter with 'Rich Dad Poor Dad' transformed her life. She delves into the challenges of juggling motherhood and real estate, the critical mistake that nearly derailed her, and the power of the BRRRR strategy. Deba offers insights on building strong lender relationships and navigating market shifts, inspiring listeners to embrace their own real estate journeys.
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Mommy Guilt to Real Estate
- Deba Douglas, working as an assistant principal and pregnant, felt trapped.
- Discovering "Rich Dad Poor Dad" inspired her and her husband to pursue real estate investing.
First Investment - A Duplex
- Deba and her husband bought their first property, a duplex, in Fort Worth, Texas, in 2018.
- They used their entire savings for the 25% down payment required by their conventional loan.
BRRRR Troubles
- Deba's second property, a BRRRR in Fort Worth, had issues: the lender declared it uninhabitable a week before closing.
- Her realtor advised her to renovate before ownership, a risky move she now regrets.