Real Estate Rookie 45 Rentals and $0 Debt: The Money Mindset Shift That Made Me Financially Free
Dec 1, 2025
Liz Carroll, a seasoned real estate investor and money coach, shares her inspiring journey from struggling with debt to building a thriving, debt-free portfolio of 45 rental properties. She discusses her pivotal mindset shift that transformed her financial health and led her to focus on manufactured homes as a niche investment. Liz reveals her early investment adventures, including a $13,000 starter property, and emphasizes the importance of living below one’s means and strategic exit strategies that empower tenants to achieve homeownership.
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Create A Simple Three-Goal Plan
- Sit down and write a simple plan with 3 clear goals to guide every money decision you make.
- Use those goals as guardrails so each choice moves you closer to the destination you defined.
First Deal Was A Tiny, Confidence-Building Win
- Liz bought her first rental three months after marriage for $13,625 with a $1,500 seller carry down payment from her dad.
- They invested $900 in repairs, rented it, then sold it 18 months later for $18,000, which built confidence to continue.
Debt-Free Rentals Buy Flexibility
- Paying off rental mortgages gave them emotional relief and operational flexibility as they left W-2 jobs.
- Debt-free ownership reduced risk and simplified being a landlord, even if it meant slower scaling.
