#309: How to Create $10k Per Month Rental Cash Flow, Starting From Scratch
Sep 18, 2023
auto_awesome
Explore two different paths to financial independence in real estate. Meet Liz and Tom in St. Louis who achieved wealth and long-term equity. Discover Tiffany and Darius in the Bay Area who utilized the Burr strategy to invest in affordable properties. Learn about their cash flow strategies, flexible financing, and managing rental properties.
Tiffany and Darius achieved financial independence by strategically paying down debt and obtaining cash flow from their rental properties.
The case studies highlight the different paths to financial independence in real estate, emphasizing the importance of adapting strategies based on the phase of the journey.
Deep dives
Getting Started with House Hacking
Tiffany and Darius begin their real estate journey with house hacking. They find a multi-unit property in Oakland, California and use an owner-occupant loan to get a lower down payment. They live in one unit and rent out the others.
Transitioning to Out-of-State Investing
Tiffany and Darius sell their Oakland properties after 10 years and use a 1031 exchange to reinvest the equity in multi-family properties in Greensboro, North Carolina. They focus on getting long-term financing and are able to live off the cash flow from these properties.
Paying Down Debt and Customizing the Journey
Tiffany and Darius strategically pay down the debt on their properties, using a rental debt snowball or selling excess properties. They achieve financial independence by owning 10 rental properties with no debt, providing $10,000 per month in cash flow.
The Small and Mighty Real Estate Investor Approach
The case studies demonstrate the different paths to achieve financial independence through real estate investing. Whether through leveraging and growth or focusing on cash flow and paying down debt, it's important to understand the different phases of the journey and adapt strategies accordingly.
Episode #309 – Discover two different paths to financial independence through real estate with 2 captivating case studies. Meet Liz and Tom in St. Louis and Tiffany and Darius in the Bay Area. Their unique journeys applying REI tools strategically with a plan. Join me and uncover the keys to long-term equity and financial freedom.