BiggerPockets Real Estate Podcast
Business:Investing
183: Achieving Financial Independence Through Rental Properties with Sarah Pritchett
2016-07-14
What does it take to achieve financial independence? Thousands of deals and a 100+ hour work-week hustle? Not according to today’s guest! Today we bring you an incredible interview with Sarah P. who just one year ago began her journey toward financial independence using rental properties — part-time! You’ll learn how Sarah is building a rental portfolio despite living in one of the most crowded, competitive markets in the world, as well as her best tips on overcoming obstacles, creative finance, and more. This show will not only give you miles of practical advice, it will leave you saying, “I can totally do that!”
In This Episode We Cover:
- How she discovered financial literacy through Mr. Money Mustache
- How analyzing deals made her feel comfortable buying her first deal
- How to invest if you’re in an expensive market
- The details on her first deal
- How she chose her market
- Sarah’s thoughts on HOAs
- How she’s managing her properties
- How old her properties are
- How a Home Equity Line of Credit helped her land her first properties
- What her long-term goal as an investor is
- How Sarah finds her deals
- Some obstacles she’s encountered in her investing career
- What the 2 year rule is
- How many hours a week she works on her real estate
- And SO much more!
Links from the Show
- 8 Mile
- BiggerPockets Webinar
- Mr Money Mustache
- BP Podcast 172: Breaking Into Apartment Investing with a 100-Unit First Deal with Jonathan Twombly
- BP Podcast 180: 58 Deals by Age Twenty-Three with Devan McClish
- Thumbtack
Books Mentioned in this Show
- Rich Dad Poor Dad by Robert Kiyosaki
- Secrets of the Millionaire Mind by T. Harv Eker
- The Book on No or Low Money Down by Brandon Turner
- Rich Dad’s Who Took My Money? by Robert Kiyosaki
Tweetable Topics:
- “My rental income does not count as income.” (Tweet This!)
- “If they can’t help you, ask who else they know that can help you.” (Tweet This!)
- “You need to know what to ask because you don’t know what you don’t know.” (Tweet This!)
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