Create an account and log in to watch James narrate the 1 hour presentation of Andrea's story:
- 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)
