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Real Estate Investing with Coach Carson

#345: How A New Mom Built a $3 Million Rental Portfolio in 7 Years

Real Estate Investing with Coach Carson

Chad Carson

Business, Investing

4.9613 Ratings

🗓️ 27 May 2024

⏱️ 58 minutes

🧾️ Download transcript

Summary

⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom:

https://www.coachcarson.com/rpm

🎙️ Episode #345 – From commercial design to building a $3 million rental portfolio in just 7 years, while navigating the joys of motherhood. Learn how Emily leveraged her knowledge and connections to expand her small and mighty portfolio, while also prioritizing family time.

📄 Show Notes:

https://www.coachcarson.com/7yearrentalportfolio/

▶️ Next Video:  How to Replace a $90,000 a Year Salary with Real Estate Cash Flow

https://youtu.be/-r2VVWo5z0o?si=a6-eyT2JegaMX0JB

🎬 Timestamps:

00:00 - Life Shift and Real Estate Exploration

04:29 - Buying First Property in Kentucky

11:03 - Dynamic of Couple's Real Estate Journey

15:58 - Balancing Active Income and Long-Term Investments

26:10 - Seasonality of Real Estate Investor

29:21 - Leveraging Personal Strengths in Real Estate

36:16 - Decision to Recast Mortgage and Harvest Portfolio

44:50 - Realization on CapEx Impact on Cash Flow

49:56 - Importance of flexibility in real estate investing

51:13 - Sacrifices and benefits of real estate choices

52:02 - Individual paths and choices in real estate

53:01 - Advice on finding your "why" in financial independence

54:52 - Focus on productivity and setting goalposts

56:10 - Connecting with Emily on Instagram and LinkedIn

57:01 - How to Replace a $90,000 a Year Salary with Real Estate Cash Flow

🔗 Connect with Emily:

• Emily's LinkedIn: https://www.linkedin.com/in/emily-beatty/

• Emily's Instagram: https://www.instagram.com/emily.in.realestate/

--------------------------
⚒️ Get my FREE Real Estate Investor Toolkit:

https://www.coachcarson.com/toolkit-pod 

🖥️ Learn with Coach (Courses, Books & more):

https://www.CoachCarson.com 

👋 Connect with Me:

📸 https://www.instagram.com/coachchadcarson

👍 https://www.facebook.com/coachchadcarson

🐦 https://twitter.com/CoachChadCarson

💰 DealMachine – Software to help you buy more real estate deals:  https://www.coachcarson.com/dealmachine 

Transcript

Click on a timestamp to play from that location

0:00.0

I thought I could build this up in five years to replace my salary. That was kind of my goal.

0:05.7

That's Emily Beatty, who began investing in real estate, left her job, had a baby, and replaced

0:10.9

her job salary in seven years using seven properties. And once I decided that, I bought two

0:17.3

burrs right away in three months after that, put tenants in them, and got my money back.

0:22.3

And then I was like, okay, this is going to work.

0:24.6

In this episode, you're going to hear Emily's full story, including some of the struggles they went through while growing their rental portfolio.

0:30.2

You buy a property and then you feel really broke for a little bit.

0:34.0

And then you kind of have to find a way to kind of kick money back into gear.

0:38.6

And why they decided to have a small and mighty portfolio instead of buying more and more

0:43.0

units. Wow, if I could own four million dollar properties, get all of those paid down and the

0:48.9

cash flow on them is going to be substantially higher. And now we're going to dig into all of that

0:53.9

and more.

1:03.3

So, Emily, there's a story that so many investors, I think, have where either there's a moment

1:08.2

or maybe a few months where they decide that they need a big change.

1:12.4

Something's got to shift.

1:13.8

And I would love to go back to your story.

1:16.2

And my understanding is back when you're in the design field and you, I assume you're not unhappy with your job,

1:23.6

but you're like, all right, something's got to change.

1:25.8

Let's start there.

1:26.7

Tell me about your kind of that pre real estate investing when you're like, all right, something's got to change. Let's start there. Tell me about your kind of

1:28.0

that pre-real estate investing when you're thinking about life shifts, life goals and where you

1:32.6

wanted to go. Yeah, so my husband and I both are designers. So we are in, you know, the deadline-based

...

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