432: From Losing Her Health, Home, & Marriage to Chasing Financial Freedom (5 Doors!)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 15 July 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Anyone can buy rentals, whether you have some money to deploy or very little to your name. With seemingly everything working against her, today’s guest managed to buy not one, not two, but THREE properties to support her and her daughter on their journey to financial freedom! Welcome back to the Real Estate Rookie podcast! Bella and River are a mother-daughter investing duo who, just a few years ago, were facing dire circumstances. In a short amount of time, Bella lost her eyesight, foreclosed on her home, and went through a divorce—leaving her with low income and no immediate way to increase it. But when a family member introduced her to real estate investing and brought her a deal, she jumped at the opportunity. Today, this duo has a small portfolio of three rental properties and five doors! In this episode, you’ll hear about the unique strategies Bella and River are using to choose their markets, vet contractors, screen tenants, complete home renovations, and manage their portfolio. Stick around until the end to hear how they plan to take down their next property, a short-term rental in Indiana, and achieve financial freedom within the next five years! In This Episode We Cover How THIS investing duo built a small real estate portfolio from scratch Putting no money down on an investment property with seller financing Creative strategies for vetting contractors and screening tenants What to do when a rental property isn’t projected to cash flow How to assemble and manage a team when investing out-of-state How Bella and River are on track to reach financial freedom in FIVE years And So Much More! 00:00 Intro 00:41 Losing Her Health, Home, & Marriage 04:15 Discovering Real Estate 10:43 Current Portfolio & FIRST Deal 17:32 Building Teams (Out-of-State!) 22:54 Finding New Markets 29:04 How to Vet a Contractor 33:54 How to Vet a Contractor 35:21 Connect with Bella & River! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-432 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie episode 432.
0:04.1	I'm Ashley Kerr and I'm here with Tony J Robinson.
0:08.0	Welcome to the real estate rookie podcast where every week, three times a week,
0:11.8	we bring you the inspiration, motivation and stories you need to hear to kick start your investing journey.
0:17.1	And today's show, we are speaking with two very special guests. We have Bella and her 12 year old daughter River and they are a
0:24.2	mother and daughter investing duo who work together to buy, renovate, and
0:28.6	manage properties. Now, Bella and River are building their portfolio so it can
0:32.0	support them and they're working towards being financially free in the next five years.
0:35.6	So Bella River, welcome to the Real Estate Rake podcast.
0:38.6	Thank you, thank you, thank you. We are so excited to be here.
0:41.4	Hi River, hi Bella, thank you so much for joining us. We want to get started with what actually caused you to want to
0:49.2	start investing in real estate? A few years ago I got sick and continued to get sick and I found
0:56.2	myself unable to walk, unable to move my arms and then slowly I lost my eyesight so I lost my ability to work to do anything to support my daughter
1:06.3	and myself and it was just really hard I couldn't make ends meet anymore and my doctors are self-pay I would constantly be cancelling my
1:16.8	appointments or moving them out to the next month just trying to make them meet and
1:20.9	I was just trying to think of what can I do to bring in more income to help us survive and not even survive to thrive after all that happened to us.
1:33.0	Yeah, what a incredible story that you have to kind of go through this journey with your health
1:40.0	and still have the motivation to like find something to support yourself instead of just giving up.
1:47.0	So what were you doing before you started or before you had your help issues? what was the industry that you were working in before that?
1:56.0	I was working in IT and I've always had an entrepreneur spirit heart.
2:01.5	I also had my own, I had three online businesses, so I had, you know, a regular
2:06.0	W-2 income coming in and I also had my side incomes coming in. So, and at the time I was also married so we had that income coming in too.
	...

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