403 | How I Bought My First Fourplex
CRAFTED Millionaire
Cayla Craft
4.9 • 1.3K Ratings
🗓️ 3 June 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
It’s no secret that Cayla loves investing and is obsessed with talking about ways to make money. One way to invest is in real estate and Cayla began that journey a few years ago by purchasing her first fourplex. In this episode, Cayla walks you through her experience and the lessons she learned through purchasing property. She even includes how much money she invested upfront, how she managed the property for a year and a half, and how much return she received in reselling it.
Ultimately, you have to start acting like you are ready to make this kind of deal. Do the research and ask the questions. Find your mentor and get into the process beforehand so you are ready to go when the money is available to be invested.
DM Cayla the word “finance” for more information about financial literacy and freedom.
You will learn:
- [3:04] - Secrets of the Millionaire Mind by T. Harv Eker changed Cayla’s life.
- [4:12] - Then a few years later, Cayla read another book called Rich Dad, Poor Dad and realized what could be possible.
- [5:13] - If you want a better lifestyle, invest more and have the assets that pay for it.
- [6:10] - If you are just getting started, you want to partner with someone who knows what they’re doing.
- [8:03] - The goal for Cayla was not to have monthly income from the fourplex.
- [9:05] - Cayla listed some of the qualities she looked for in the property to invest in.
- [10:32] - You have to put a larger chunk of money down on a piece of property for this purpose.
- [11:12] - Cayla explains the amount of money earned each month and what she did with it and how much profit she made from selling it.
- [13:02] - What are some ways you can increase your income a little bit in order to make the amount you need to put down on a property investment?
- [14:12] - Start acting as if you are ready to make that deal. Do the research and ask the questions.
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Transcript
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| 0:00.0 | If you're just getting started in this, you want to partner with people that know what they're |
| 0:04.7 | doing. That could be the agent, the loan officer, the property management team. Maybe it's a |
| 0:09.7 | financial coach that you're working with, but have a mentor that can help you. Because what can |
| 0:16.0 | happen is if you do go into it blindly, like, oh, I want to buy a four bucks, but you don't know |
| 0:20.6 | the problems to look for before you get into a deal. It might be the biggest headache of your life |
| 0:27.0 | and cost you a lot of money. |
| 0:31.5 | Hello, and welcome to the Mommy Millionaire Show. This is your host, Kayla Kraft. I am a Mom |
| 0:38.1 | of three multi-millionaire master, life coach, and money mindset queen. I am so happy and thankful |
| 0:46.1 | that you're here. I am actually on a mission to help one million women make a million dollars or |
| 0:51.5 | more a year. That could be you. Every week, I'm bringing you inspiring stories to help you feel |
| 0:59.5 | empowered, to broaden your horizons, to gain clarity and strategy on living your best life. |
| 1:07.3 | Over at Mommy Millionaire, we pursue our lives with purpose and love, and the riches always follow. |
| 1:14.1 | So stay tuned because I'm bringing you episodes twice a week. I believe you are your biggest asset. |
| 1:20.1 | So let's build you up today. Let's get into it. |
| 1:31.6 | Hello, beautiful Mommy Millionaires. I'm excited to do this episode for you all today because |
| 1:36.6 | I'm going to actually break down how I bought my first four plex back about six years ago. |
| 1:43.6 | Okay, and this was in Bakersfield, California, also known as the armpit of California where I |
| 1:50.2 | was born and raised. So first, before I get into that, I got to do a shout out to our five star |
| 1:55.9 | review of the week. It just means so much to me when I read these. I literally cry. This is from |
| 2:02.3 | Papiyogi. Kayla changed my life without knowing it. Kayla, I've been listening since 2020, and let me |
| 2:08.1 | just say you've changed my life. Back in 2020, I was quarantined with a new born and toddler |
| 2:13.0 | recovering from a C-section. My husband worked a long hours. It would only seem about two hours |
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