Paying Off Over Half a Million Dollars in Debt by House Hacking and Using the BRRR Strategy with Megan Lamke

Investing in apartment syndications may seem out of reach when you’re deep in debt, but today’s guest shows us the power of real estate on her journey to financial independence. We are excited to sit down with Megan Lamke on this week’s episode! Megan started with over a half a million dollars in debt between her and her husband and through years of determination and sacrifice, was able to become debt free. She did this by house hacking, utilizing the BRRR strategy, and snowballing their debt. After creating a financial foundation, Megan began pursuing multifamily real estate syndications both passively and as a general partner. She shares with us how she is able to do it full time and what she looks for in a great deal. We cover so much with Megan like how she was able to become debt free and what motivated her to live a debt free life, the mistakes one should avoid when tackling debt, and how she transitioned from house hacking to apartment syndications. Megan also shares her daily executable tasks to find investing opportunities.  Megan started in the real estate industry working for Wells Fargo in 2008 during the refinance boom for investors. While working full-time climbing the corporate ladder, Megan began house hacking and started implementing the Buy, Renovate, Rent and Refinance (BRRR) strategy in 2011. After working for several fast-growing technology companies, Megan started leveraging her sales and marketing skills to grow a local property management company. That lead Megan to get her real estate license in 2016 and start passively in multifamily real estate syndications. Megan was passionate about becoming 100% debt-free and F.I.R.E. before the age of 35. Together with her husband, they paid off $535,000 in debt including their house in 4 years and 10 months. Now Megan is a licensed realtor in the state of Minnesota and pursues multifamily real estate syndications full-time.   On today’s episode, we discuss a ton with Megan, including: How her parent’s bankruptcy lead to her debt free dreams How to get started in apartment syndications Systems you need in place to invest out of state successfully Specific actions she takes to find deals and her buying criteria The morning routine that sets her up for a productive day   Books/Resources Michael Blank Deal Analyzer Miracle Morning by Hal Elrod The Challenging Sale The Real Estate InvestHER Meetup- Minneapolis, MN   Contact Information MeganLamke.com Instagram – @meganlamke LinkedIn – Megan Lamke   Looking for Funding? Ladies, you need to check out Fund That Flip! We are excited to tell you about Fund That Flip, a company we are very proud to call our sponsor. Fund That Flip is the leading provider of fast, convenient, affordable capital for experienced real estate investors who buy and rehabilitate residential properties. To date, they have helped hundreds of real estate investors grow their businesses by funding thousands of deals. You deal directly with them, getting your deal funded in as few as 10 days.  85% of their customers come back to do more business with them because of their dedication to exceptional service. It’s why they were named No. 42 of Inc.’s fastest-growing companies in America.  What do they fund? Fix-and-flip New construction Buy and Hold Properties Cash-out refinance projects from 1-4 units Real Estate InvestHERs, Get $500 towards your next closing! Check them out by visiting – www.fundthatflip.com/investher    InvestHER Community Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms.  How To Join the InvestHER Movement   1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.  Subscribe via Itunes Subscribe via Android Subscribe via Stitcher 2)  InvestHER Community on Facebook  We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!  3) InvestHER Meetups Around the Globe We have over 4k+ meetup members attending close to 25 InvestHER Meetups across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther