30 Units in 7 Years by BRRRRing, Building, Flipping, and Going All-In

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 7 October 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

After a strong case of “mommy guilt” working as an assistant principal, pregnant with her second child, Deba Douglas knew she needed a way out of the rat race. A run-in with Rich Dad Poor Dad prompted her to begin saving so she could start buying rental properties. She called her lender, found a property, and spent her and her husband's entire savings on the down payment. Little did she know that this one decision would set her life’s course in an entirely different direction. Now, just seven years after first looking into real estate investing, Deba has thirty rental properties and doesn’t work at her W2 anymore! How did she do it so fast, especially with kids to care for, bills to pay, and no prior experience in real estate investing? One BAD piece of beginner advice could have thrown her entire investing career off track, but she quickly learned from her mistake and leveled up at light speed! Deba is sharing how she went from real estate investing zero to hero, doing everything from BRRRR (buy, rehab, rent, refinance, repeat) investing, building new construction rental properties, flipping houses, and becoming an agent herself to help other investors. Want to escape the nine-to-five grind and get on the fast track to financial freedom? Do it all like Deba! In This Episode We Cover: The one critical mistake Deba made on her second deal that could have cost her severely The truth about becoming a real estate agent (and why it isn’t as easy as you think) Regular realtors vs. investor-friendly realtors (you CANNOT mix them up!) When it’s time to quit your job and become a full-time real estate investor Why Deba is still buying in a market that is seeing price declines in 2024 The massive benefits of new construction rental properties (and why they make sense in 2024) And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Grab the Book, “Rich Dad Poor Dad” Find an Investor-Friendly Agent in Your Area See Dave at BPCON2024 in Cancun! Do You NEED an "Investor-Friendly" Agent? Connect with Deba Connect with Dave (00:00) Intro (02:00) Chasing Financial Freedom (05:16) First Property, Then BIG Mistake (14:16) Did It Work Out? (15:59) Quitting Her Job (20:53) Investing and Selling Homes (23:06) Deba's Portfolio (24:18) Building New and BRRRRing (26:50) Investing in a Declining Market (33:38) Goals and Best Beginner Investment Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1027 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Have you ever met someone who just that kind of person when they see a problem they just kind of obsess about it and have to find a way to fix it?
0:08.5	Well today's guest is one of those people. She had one of her first deals go badly because of a realtor who just wasn't really on the up and up and gave some pretty terrible advice to be honest.
0:22.0	So what did she do? Well, she doubled down. She kept doing the same
0:26.1	strategy that she had tried once and was very successful on her very next deal and she also became a realtor herself so she could provide more
0:35.4	trustworthy services for investors in her area. Today she leads a team of
0:41.0	agents and has more than 30 properties in her portfolio. It's an amazing story.
0:46.5	I'm excited to share it with you.
0:50.9	What's up everyone? It's Dave here with our weekly investor story and our guest today is
0:59.2	Debb a realtor and investor in Dallas who left her assistant principal job six years ago
1:06.1	and overcame that early failure and all the anxiety that comes with it to eventually find
1:12.4	a niche and start scaling.
1:14.8	Debba has a whole bunch of great stories to share,
1:17.3	but I'm really excited to talk to her about a couple things.
1:21.0	First and foremost, how she just found the confidence to keep trying the Burz strategy after her first deal was a pretty big disaster.
1:29.0	I'm also curious about how she balanced starting essentially two businesses at the same time because
1:35.2	people talk about quitting your job to become an investor or an agent, but those are two different
1:40.2	businesses and when you do them at the same time, that's a lot of work and a lot of things
1:44.2	that you have to be learning and thinking about at the same time and of course we're
1:49.2	going to talk about how she's still doing deals in Dallas's hyper competitive market today and what advice she would
1:56.8	give to anyone getting into real estate in this market.
2:01.1	Deba, welcome to the BiggerPockets podcast.
2:03.6	Thank you for being here.
	...

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