In our first ever Real Estate Investor Story, we meet Andrea and learn how to acquire 8 rental properties with down payments for two.
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- 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)
Andrea - How to Acquire 8 Rental Properties With Down Payments for Two with 2 Accounts, 1 Property, 6 Rules, 1 Goal
Or, read the detailed, computer-generated, narrated
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