698: From Toxic-Marriage to Financially Independent Mom with 13 Units
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 8 December 2022
⏱️ 69 minutes
🧾️ Download transcript
Summary
Finding financial freedom is hard enough, but doing so right after going through a toxic divorce can seem almost impossible. All of a sudden, you’ve gone from a two-income household to just one, your children are now your sole responsibility, and you’ve got to almost financially start over. Finding financial independence after events like this would be awe-inspiring—so imagine you did it all in just two years. Sarah King did just that, with thirteen units under her belt since buying her house hack property in 2020.
Sarah worked hard to put herself in a strong financial position. She was a debt-free disciple who paid off six figures in debt. Then, she focused on her savings, minimizing her expenses and increasing her income as much as she possibly could. But then, when everything started to feel stable, she uncovered something that would unravel her marriage. She went from financially stable to undoubtedly anxious in a matter of days. But it’s what she did next that was incredible.
Knowing she had to do whatever she could to take care of her daughter, Sarah went on rental property shopping spree. She built the portfolio she knew her family needed, and now just two years later, she’s enjoying the fruits of her non-stop labor. But how did she get the money for the deals? What strategy allowed her to cash flow so much in such a short amount of time? If you want to do what Sarah did, you’ll have to tune into this episode.
In This Episode We Cover:
How to achieve financial independence through real estate in less time than you think
House hacking and why it’s arguably the best way to start investing
Why being scared of debt is a downside when trying to build a rental property portfolio
The medium-term rental strategy and using it to get better cash flow on smaller units
Private money lending and how to raise private capital from those who know and trust you
Hiring, outsourcing, delegating, and how to free up much more time in your life
The phenomenal funnels that will bring you the best tenants, deals, and more money!
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Divorced and $250K in Debt to Financially Free in 10 Years
Books Mentioned in the Show
Set for Life by Scott Trench
30-Day Stay by Sarah Weaver & Zeona McIntyre
Raising Private Capital by Matt Faircloth
Simple Path to Wealth by JL Collins
Rich Dad Poor Dad by Robert Kiyosaki
Connect with Sarah:
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Transcript
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| 0:00.0 | This is the Bigger Pogas Podcast Show, 698. |
| 0:04.2 | There's nothing very satisfying to me about just watching my money grow in a bank account. |
| 0:09.2 | I had been actively trying to pay off debt and there was nothing active really about the financial independence journey. |
| 0:15.4 | And I feel like so many people were couponing and I'm like, I hate coupons. |
| 0:19.2 | I hate it. |
| 0:20.2 | I don't want to go to the grocery store with like, envelopes and coupons for the rest of my life. |
| 0:25.0 | I'm not going to bike to work. |
| 0:26.2 | I'll be sweaty. |
| 0:27.2 | Like, I don't want to be there and like dripping sweat when I like get to work because I bike tear and live that like minimalistic lifestyle that was really prominent. |
| 0:34.8 | So then real estate was really my answer on how do you kind of like do financial independence faster? |
| 0:41.4 | What's up everyone? |
| 0:42.4 | This is David Green, your host of the Bigger Pogas Real Estate Podcast, the biggest, the best and the baddest real estate podcast in the world. |
| 0:50.0 | Join today by my fearless sidekick and oftentimes leader, Rob Abasolo. |
| 0:57.4 | Rob, we had an amazing conversation with Sarah King. |
| 1:00.6 | She just leaves you feeling really good. |
| 1:02.2 | What were some of your favorite parts of today's show? |
| 1:04.0 | Well, Sarah King's story is just the ultimate version of inspiration. |
| 1:09.2 | I mean, genuinely a lot of people, they'll put reasons out there to never get started. |
| 1:14.2 | Sarah actually got started again and she's crushing it now and we'll talk about it in the story. |
| 1:19.8 | But there has been some adversity that that caused her to have to restart her real estate journey. |
| 1:24.0 | And when most people would have given up and thrown in the towel, she went all in and she decided, hey, I'm going to I'm going to own this. |
| 1:30.6 | And I'm going to I'm going to re I'm going to be reborn in the world of real estate. |
... |
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