131: 4 Units At 20 Years Old & Ditching Med School for Multifamily

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 17 November 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The more “traditional path” encourages a lot of waiting: waiting to get into the right school, waiting to get the right degree, the right internship, and the right job, but what about the right now? As every current and aspiring entrepreneur knows, time is money so capitalizing on the right now is essential. How do you do that? Real estate investing! Today’s guest, Rachel Morrow, knew the importance of capitalizing on the right now. At merely 20 years old she was on her way to med school when she realized she wanted to start building wealth. During her warehouse shifts, she began listening to real estate podcasts and recognized real estate was not only something she wanted to do but something she could do. This led to a big transition period in her life from the path she had always known to the path less traveled, but once she made that mindset shift, that was it. The change didn’t happen instantaneously. She had to completely start anew and work towards her goals which at one point meant working 60 hours a week for a year to get pre-approved for a loan. Her drive and persistence allowed her to close on 4 units with hopes of closing on more single-family homes in the future. We touch on topics like creating value, breaking from the “traditional” path, self-managing a house hack, finding a mentor, and being a young investor. In This Episode We Cover Breaking from the “traditional” path and finding what best suits you Building wealth without prior experience in real estate How to successfully self-manage a house hack Using your youth as an advantage when investing in real estate Getting pre-approved for a loan without high income or long work experience How to find the right mentor (especially as a newbie) And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Steve Rozenberg Events The Real Estate Guys Real Estate Rookie Podcast Graham Stephan's Youtube Channel MLS Zillow Brandon Turner Rentredi Rookie Podcast 102: $10M Profit On Her First Deal?! It’s Possible with Campground Investing Apartments BiggerPockets Forums Check the full show notes here: https://www.biggerpockets.com/rookie131 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Real Estate Rookie, episode 131.
0:04.6	Like how bad do you want it?
0:09.1	I want it so bad.
0:11.0	Every time I'll lay in bed, I think,
0:12.8	oh, should I go into work today?
0:14.6	But then I'll think, I just need to bear it out for a little bit more.
0:17.9	To think that it's building my retirement,
0:20.2	I will look back on these years and not regret it.
0:24.6	My name is Ashley Care and I am here with my co-host Tony Robinson.
0:30.9	Tony, what's going on?
0:32.6	What do you want to banter about,
0:34.3	even before the episode?
0:35.8	I got to like the little life updates we've been doing.
0:37.7	That's been like a fun little addition.
0:40.2	So I'm trying to think what's going on in my personal life
0:42.3	for something that's kind of cool.
0:44.6	My son came, so he's in eighth grade,
0:47.0	and he came home the other day and told us to not one.
0:50.2	But two girls had written love letters to him,
0:52.9	confessing their adoration of our son.
0:55.6	So we're at that phase of like the parents in life now.
1:00.0	Oh my gosh, and he shared you with the,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.