How much money does it really take to buy a rental property?
$200,000? $100,000? $75,000?
On today’s show, we are going to chat with Lisa Phillips, a real estate investor who buys real estate in the under-$30,000 range and achieves some incredible cash flow from her mostly-passive investing. Lisa shares some amazing insights into how she went from a personal foreclosure to owning several rental properties – bypassing the banks and investing creatively. If you are someone who is looking to get started investing with real estate investing without spending hundreds of thousands of dollars – this is the show for you.
Read the transcript for episode 54 with Lisa Phillips here.
In This Show, We Cover:Investing in real estate while navigating the instability of day jobsHow going through a foreclosure changed Lisa’s financial future… for the betterKnowing when to call it quitsTips for negotiating with creditorsWhat makes motivated sellers attracted to a certain real estate investor?Tips for defining a good vs bad neighborhoodFinding a property manager who exceeds your expectationsHow much does a good property manager charge?Simple tips for attracting the best tenants to your rental propertiesThe positives and negatives of low-price investingWhat crimes are acceptable?Links from the ShowTenant Screening: The Ultimate GuideNARPM – National Association of Residential Property ManagersCrimeReports.comSpotCrime.comRentometer.comBooks Mentioned in the Show:Rich Dad Poor Dad by Robert KiyosakiThe 4 Hour Workweek by Tim FerrissTweetable Topics“Be clear & upfront with what you can do for other people. What’s in it for them?” (Click to Tweet!)“Landlords: never sacrifice your standards just to fill a vacant unit.” (Click to Tweet!)“When looking to invest in real estate, leverage the power of the internet.” (Click to Tweet)Connect with LisaLisa’s BiggerPockets ProfileLisa’s BiggerPockets Video BlogLisa’s website: www.AffordableRealEstateInvestments.com