I Had ZERO Experience and Replaced My Income with Real Estate
Summary
This article details one investor's journey from a dead-end job to financial freedom through real estate investing, starting with a triplex renovation and eventually scaling up. Hosts can learn about the potential of real estate investing and the importance of resourcefulness in overcoming challenges.
Key Insights
- •The investor cold-called more than 20 lenders to find funding for their first deal.
- •The investor made nearly a six-figure check from their first deal, replacing their income. They then scaled up by getting creative and hustling to make deals work that other people overlooked.
Action Items
- ✓Research and learn through online resources like YouTube University.Effort: lowImpact: medium
- ✓Consider creative financing options, especially when starting out, such as exploring local credit unions or lenders.Effort: mediumImpact: medium
Common Mistakes
- ⚠Avoid relying on risky financing methods like borrowing from strangers you meet on the internet.
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Curated by Learn STR by GoStudioM