387: Time Freedom Through 7 Deals in Her First 3 Years With Megan Greathouse

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 18 June 2020

⏱️ 93 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's show: the massive impact of just a few flips and a few small multifamily rental properties. Starting in 2017, that combination allowed our guest Megan Greathouse to step aside from her W-2 job (her husband still works) and spend much more time with her two young kids... all while dedicating just 5 hours per month to self-managing her portfolio in St. Louis. Want to know how she did it? Megan spells it all out in this episode and provides the exact tools and templates she uses to maximize her efficiency—enabling her business to serve her and allowing more time for what really matters. Give Megan a follow, and share this episode with a friend, partner, spouse, or family member who you think might enjoy it! In This Episode We Cover: Starting out with a fourplex Investing with a full-time job and kids The P.R.O.P. system for property management How Megan and her husband use the "2 in 5 Rule" to avoid capital gains taxes How she uses real estate to create time freedom and hang out more with her kids Flipping an old house near Washington University in St. Louis A BRRRR "fail" (contractor issues) that turned out OK Lessons she learned in the military The key to avoiding analysis paralysis: "Get to 80% and go!" Buying a 60-acre farm outside the city And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Bookstore BiggerPockets Podcast Landlord Advisory Panel BiggerPockets Events BiggerPockets Magazine BiggerPockets Money Podcast BiggerPockets Guide in Finding Agents BiggerPockets Books BiggerPockets Webinars BiggerPockets Podcast 100: The 1st Deal, Management Drama, and the Birth of BiggerPockets with Joshua Dorkin Open Door Capital LLC Ryan's BiggerPockets Profile TenantCloud QuickBooks Boomerang for Gmail Seth Mosley's Music and Money Group Brandon's Instagram BiggerPockets Shirt Scott Trench Check the full show notes here: http://biggerpockets.com/show387 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show
0:02.0	287.
0:04.0	I left a high paying job because we got to a point where my husband and I looked at our portfolio and said,
0:09.0	even if you left work, got totally lazy, spent all the time with the kids, and didn't keep building.
0:15.1	In 10 years, my husband could leave work too, just with the long-term investments and the real
0:20.4	estate that we already hold.
0:21.5	It was really cool to look at that and see.
0:23.2	You're listening to Bigger Pockets Radio. Simplifying real estate for investors large and
0:29.2	small. If you're here looking to learn about real estate investing without all the height,
0:34.0	you're in the right place.
0:36.0	Stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.
0:42.0	Your home for real estate investing online.
0:45.3	What is going on BiggerPockets world?
0:47.6	This is Brandon Turner, host of the BiggerPockets podcast
0:51.1	here with my co-host,
0:53.4	Mr David Green.
0:54.8	David Green, I am pumped about releasing
0:57.4	today's episode with our guest Megan today
0:59.6	because it was fire.
1:01.2	You agreed?
1:01.9	We got into managing rental properties. We got into
1:05.2	burning properties. We got into doing it with not much time. We got into taking
	...

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