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BiggerPockets Real Estate Podcast

454: Retiring in 2 years Through “Aggressive” Rental Property Investing with Rachel Richards

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.816.6K Ratings

🗓️ 25 March 2021

⏱️ 62 minutes

🧾️ Download transcript

Summary

Retiring via passive income is why most people get into real estate, but rarely does someone accomplish that goal within just two years! Rachel Richards, real estate investor, agent, and author of Money Honey shares her story of aggressive real estate acquisition. All purchased, by the way, with at least 20% down! While her friends in high school may have been reading for fun, Rachel was reading Rich Dad Poor Dad and trying to find the best way to become financially free. After she graduated from college she took jobs where she felt underappreciated and at some points, humiliated. She realized that this was not the path she would go down, and started investing shortly after in 2017. By 2018, Rachel and her husband had acquired 38 doors. Yes, you heard that right, 38 doors in under two years! These rental properties allowed Rachel and her husband to retire, as they were making six-figure incomes solely from their properties alone. This didn’t mean two years in she was still a rookie. Far from it actually. Rachel had to systematize her rental properties as much as she could within those two years so she could manage them long distance without having huge headaches along the way. Rachel shares some interesting stories, from turning a duplex into a short-term boarding home, to catching her property managers stealing over $6,000 from her. She’s learnt a lot and put her knowledge into her books Money Honey and Passive Income, Aggressive Retirement, both of which may help you get to where she’s at now! In This Episode We Cover: Understanding how important financial independence is to your life Dismissing limiting beliefs that you can’t or shouldn’t do something Seller concessions and how you can use them to get more money at closing  Why being too frugal may lead you to lose more money in the long run Systematizing your long distance real estate investing And SO much more! Links from the Show BiggerPockets Forums Be a guest to the podcast Cutco Cutlery BiggerPockets Podcast 416: 29-Year Old Making Nearly $1M in Passive Real Estate Income (3 Years In!) with Matt Onofrio BiggerPockets Podcast 418: 14 Deals in 16 Months: How Alex Camacho Found his Mastery in Deal Finding BiggerPockets Podcast 320: Hands-On BRRRR Investing and DIY Secrets with Instagram Star Brittany Arnason BiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl Yarber Check the full show notes here: http://biggerpockets.com/show454 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the bigger pockets podcast show 454 and I just remember one time when she made me cry

0:06.4

I went to the bathroom and I was looking at myself in the bathroom and I just decided right then

0:12.0

I am never going to let an employer treat me that way again. I'm never gonna be trapped because of financial constraints

0:21.4

So that's what really got me going and being like enough with excuses enough of me saying I don't have enough money

0:28.1

I don't know enough. I'm gonna make this happen and I got invested by age 24

0:33.2

You're listening to bigger pockets radio

0:36.2

Simplifying real estate for investors large and small

0:39.5

If you're here looking to learn about real estate investing without all the hype you're in the right place

0:45.5

Stay tuned and be sure to join the millions of others who have benefited from bigger pockets dot com

0:51.4

Your home for real estate investing online

0:54.2

What's going on? Everyone it's Brandon Turner hosted the bigger pockets podcast here with my co host mr. David green

1:00.4

What's up David green how you doing? I'm doing great

1:03.5

I'm back in Northern California just got back from Tahoe yesterday

1:06.9

We had our go-button's event unfortunately you couldn't make it

1:10.3

But I held it down for the two of us and had a great time. Thank you

1:13.9

Were you like the the cool kid in the back just smoke in and leaning back in his chair?

1:17.7

I remember was like oh, it's David green. Is that how that was what actually happens if everybody wants to know the reality is that when Brandon

1:23.7

Chose up no one pays any attention to me at all. That's not even true at all

1:26.5

I get completely discarded and thrown to the back

1:28.6

So I sabotaged Brandon so that he couldn't come I I put his name as a terrorist on the the flight records

1:35.7

So that he wouldn't be able to leave Hawaii using my law enforcement connections and he wasn't able to come

1:40.4

So I was the bell of the ball the whole time I got all the attention. I was the pretty girl

...

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