Andrea

Andrea is a  Character in the Real Estate Financial Planner™ podcast.

  • 40 years old
  • Has her accounting degree from Arizona State University
  • Works in accounting for a small manufacturing business – she's a planner
  • Earns about $4,000 per month
  • Divorced, single mom with 2 small boys (age 2 and 4)
  • Has $100K saved up including some of the joint proceeds from the sale of a previous home
  • Money is going to be tight supporting her and two kids on just her salary so not a lot to save
  • Wants to be able to provide for her family, save for retirement
  • Original plan was to buy two rental properties with 20% down payment and rent while she saves up for 5% down payment for a property to live in
  • If she had done that, she'd have small positive cash flow from the rentals (her savings)
  • Decides to buy a home with 5% down and while talking to the lender and her real estate agent realizes that she is required to stay in the property for a year, but could covert them to rentals after a year
  • This would allow her to buy more properties and have a larger asset base (less immediate cash flow)
  • Income: $48,000/year ($4,000/month)
  • City, State Live: Non-Specific
  • City, State Invest: Non-Specific
  • Primary Strategy: Nomad™
  • Saving Per Month: $0
  • Starting Account Balances (Saved): $100,000 from divorce proceeds
  • Relationship Status: Divorced
  • Kids: Two boys (ages 2 and 4 at start)
  • Job Type: Accountant for Small Manufacturing Company
  • Education: Bachelor's in Accounting from ASU
  • Fear: Not Being Able to Provide For Kids
  • Debts: No Debts
  • Real Estate Owned Prior to Start: None
  • Price of Properties To Purchase: $250,000

Podcast Episodes

The following are the podcast episodes for variations of Andrea's story.

More posts: Andrea Episode

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