CRAFTED Millionaire 403 | How I Bought My First Fourplex
It’s no secret that Cayla loves investing and is obsessed with talking about ways to make money. One way to invest is in real estate and Cayla began that journey a few years ago by purchasing her first fourplex. In this episode, Cayla walks you through her experience and the lessons she learned through purchasing property. She even includes how much money she invested upfront, how she managed the property for a year and a half, and how much return she received in reselling it.
Ultimately, you have to start acting like you are ready to make this kind of deal. Do the research and ask the questions. Find your mentor and get into the process beforehand so you are ready to go when the money is available to be invested.
DM Cayla the word “finance” for more information about financial literacy and freedom.
You will learn:
- [3:04] - Secrets of the Millionaire Mind by T. Harv Eker changed Cayla’s life.
- [4:12] - Then a few years later, Cayla read another book called Rich Dad, Poor Dad and realized what could be possible.
- [5:13] - If you want a better lifestyle, invest more and have the assets that pay for it.
- [6:10] - If you are just getting started, you want to partner with someone who knows what they’re doing.
- [8:03] - The goal for Cayla was not to have monthly income from the fourplex.
- [9:05] - Cayla listed some of the qualities she looked for in the property to invest in.
- [10:32] - You have to put a larger chunk of money down on a piece of property for this purpose.
- [11:12] - Cayla explains the amount of money earned each month and what she did with it and how much profit she made from selling it.
- [13:02] - What are some ways you can increase your income a little bit in order to make the amount you need to put down on a property investment?
- [14:12] - Start acting as if you are ready to make that deal. Do the research and ask the questions.
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