In this engaging discussion, Sarah Blohm, a savvy real estate investor who transitioned from renting to owning five rental units in just 12 months, shares her journey of house hacking. She talks about the importance of sweat equity and offers insights into her first rental deals. Sarah discusses the value of building a network and how financing options can make property investments accessible. With a practical approach and realistic expectations, she breaks down how smart strategies can lead to success without rushing into decisions.
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Sarah's House Hacking Start
Sarah started her real estate investing journey by Googling how to make more money on the side and found house hacking.
She bought a duplex where she paid $300 living there while tenants paid rents, effectively reducing her housing cost and building equity.
question_answer ANECDOTE
From Criminal Justice to Construction
Sarah initially studied criminal justice before switching to construction management due to her father's recommendation.
She enjoys construction management because it combines problem solving with tangible results from building projects.
volunteer_activism ADVICE
Overcome Fear by Doing
Conquer fear of property management by diving in and learning by doing.
Use existing project management skills to help with maintenance and grow in property management.
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What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
β Join Rental Property Mastery, my community of rental investors on their way to financial freedom: https://coachcarson.com/rpm
ποΈ Episode #415 β In 12 months, Sarah went from renting to owning 5 doors β without overpaying or rushing into bad deals. Her secret? Two smart house hacks, tons of sweat equity, and a plan that didnβt rely on overnight success.
βΆοΈ Next Episode: How to Analyze a Duplex Rental Property (Real Life Example)
Real Estate Investing with Coach Carson 