34: School Teacher Making $72,000 a Year in Cashflow with Amy Barber

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 21 October 2020

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

What do you get when you combine Dave Ramsey-style frugality with aggressive deal-finding tactics? You get teacher Amy Barber and her fiancé, Jay – and their $6,000 monthly cashflow in rural Iowa. In this episode, Amy shares her strategies for buying foreclosed ranch houses in cash, cleaning them up, then refinancing so she can repeat the process again and again. Think no one's doing deals during the pandemic? Well, she's bought 4 houses in the past 4 months, and plans to keep going until she's making enough to comfortably leave her W-2 job. If you're looking for guidance on how to build the financial foundation so you can invest in real estate from a position of strength, Amy's story will fire you up and get you ready to take that most important next step toward "getting rich slowly" just like her. By the way, Amy came to our attention through the Real Estate Rookie Facebook group. If you find other awesome investors who would make a great fit for the show, tag us or send them to biggerpockets.com/guest so they can apply. In This Episode We Cover: How Amy got started as an "accidental landlord" during the Great Recession Buying 4 properties in the last 4 months Finding deals through her fiancé's job in foreclosure preservation How they bought a foreclosed house and created $50k in equity Taking Dave Ramsey's course to get her finances under control Delaying gratification and making sacrifices to create enough cashflow to quit her W-2 job Working 2 jobs and doing real estate on the side And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Forums BiggerPockets Podcast Financial Peace University by Dave Ramsey Airbnb Outdoorsy Mint Cozy Stessa Apartments.com Asana Zillow Brandon's BiggerPockets Profile BiggerPockets Money Podcast Check the full show notes here: https://www.biggerpockets.com/rookie34 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie show number 34
0:08.7	There's a lot to learn in the area of real estate, but it's not impossible to start early or to start late because we're in our
0:17.0	40s and some people would say, oh, that's too late to start, but I don't think so.
0:21.2	I mean, it's never too late to start.
0:24.6	I am Ashley Kerr and this is my co-host Felipe Mejia.
0:29.6	I just got back from my eight-day world tour Alabama with Felipe we got to hung out with
0:35.1	other investors then I went to Houston and met a turnkey provider surveying
0:40.2	company and then I went to Seattle for the PMW Bad-ass Wealth Expo and that
0:47.4	was great I got to speak on that virtually all the speakers were there we
0:50.5	went to a hoarder house found so many great treasures and it was
0:54.8	shocking because I'm over here buying 20,000-dollar houses and this was a hoarder
0:59.3	house that needed like 200,000 in rehab that was purchased for $900,000.
1:06.1	Crazy to me, but it was really cool to see
1:08.6	and got to meet a lot of people
1:11.7	and see some old friends from other conferences so that was great.
1:15.0	Yeah I think a lot of people are missing the the bigger pockets conference that
1:19.6	should have happened this year but I'm excited about it next year but I know a lot of people were
1:23.6	really excited about that but that is not what we're here to talk about today
1:27.0	today we're here to talk about Amy Barber who is an amazing investor she's got a
1:31.8	great niche I'm not even gonna to give it out, but she
1:33.9	talks about how she finds great deals and how she was able to acquire such a massive
1:39.9	portfolio by creating even systems that she doesn't have down perfect yet but does
	...

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