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Real Estate Investing with Coach Carson

#355: From RV Living to $1 Million Rental Portfolio – One Investor's Journey

Real Estate Investing with Coach Carson

Chad Carson

Business, Investing

4.9613 Ratings

🗓️ 5 August 2024

⏱️ 62 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 355 – Alisha started with $200K in law school debt and lived frugally in an RV with her husband. Eventually, she took the plunge from buying and renovating homes in South Florida to strategically investing in new construction rentals in Texas and Mississippi. Alicia reveals how disciplined financial decisions and strategic investments have set her on the path to long-term wealth.

▶️ Next Episode: How to Estimate Repair Costs for Your Next Rental Property

https://podcasts.apple.com/us/podcast/339-how-to-estimate-repair-cost-for-your-next-rental/id1448707654?i=1000652540659

📄 Show Notes:

https://www.coachcarson.com/200kdebt/

🎬 Timestamps:

0:01 - Househacking to pay her $200K debt

5:40 - Implementing the Debt Snowball Method

7:58 - Living in an RV to Pay Off Student Debt

10:21 - From RV Living to Homeownership

14:16 - Buying and Renovating a Resale Home

19:01 - Discovering BiggerPockets and Real Estate Investing

21:01 - Preparing for Property Investment and Learning

23:01 - Investing in Mississippi and Texas

28:25 - Market Specific Numbers and Strategy

42:18 - Strategy with New Construction Rentals

52:41 - Long-term appreciation discussion

59:06 - Alisha's advice for new investors

1:01:01 - How to Estimate Repair Costs

🔗 Connect with Alisha: 

• Website: https://alishawilson.exprealty.com

• Facebook: https://www.facebook.com/LivingInAustinATX/

--------------------------
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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

My husband and I decided to purchase an RV in 2011. It was after I graduated from law school.

0:06.1

The goal was we have to get out of debt. That's Alicia Wilson, an attorney who started off with a lot of debt and then later dove in to real estate.

0:13.9

Between his undergrad, my undergrad, and then the law school loans, I think we were somewhere around $200,000.

0:19.2

And that was just a daunting amount of money. In this episode, you'll learn how she snowballed her debt somewhere around $200,000. And that was just a daunting amount of money.

0:21.7

In this episode, you'll learn how she snowballed her debt down to zero. We can work together and how much of

0:28.1

the extra money we make we can put on these loans. And it really did snowball. How she quickly grew

0:34.9

her cash savings by living in and then flipping two of her residences.

0:38.3

We bought it for 570, sold it for 835, just a little over three years later.

0:43.3

Our eyes were kind of plugging out.

0:46.3

And how she used those cash savings to buy two new rental properties plus her new principal residence.

0:52.3

We bought just the one in Mississippi.

0:53.3

That was early July, 2023.

0:55.6

So two weeks later, we closed on another new construction home in Lockhart, Texas.

1:02.5

And now we're going to dig into all of that and more.

1:14.8

Welcome to the podcast Real Estate estate investing with Coach Carson.

1:16.1

I'm your host Chad Carson.

1:17.6

You could also call me Coach Carson.

1:22.9

And this is a show to help you get out of the financial grind so you can spend your time doing more of what matters.

1:25.2

And now let's get to the interview with Alicia.

1:28.3

If you're up for it, I'd love to go back in time. Here we are in 2024. Let's even go back maybe to 2011, you know, 13 years ago, maybe

1:34.1

earlier if you want to. I'm just curious, but if I remember that part of the story, you were,

1:39.3

you and your husband were living in an RV at that point and you had student debt and you were a little bit

...

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