873: Replacing Her HUGE W2 Salary in Just 3 Years w/ "Negative" Equity Rentals w/Kate Lynch

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 17 January 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

How much passive income would you need to quit your job? How many rental properties would you have to buy? Most real estate investors think they’d need twenty, thirty, fifty, or a hundred units to finally retire with a six-figure passive income stream, but that could take decades to achieve. So, how do you do it faster? How do you build massive passive income, monstrous cash flow, and find financial independence fast? Follow Kate Lynch’s advice. Three years ago, Kate was working…a LOT. Seventy-hour work weeks were the norm as she left the house before sunrise and returned well past sunset. Her family time was non-existent, moments with her kids were only reserved for the weekends, and her job controlled every aspect of her life. And while she was getting compensated fairly for the work she was putting in, watching her family time fly by was too much of a burden to bear. So, a rental property portfolio became the goal. Kate bought in a completely unconventional area for her strategy, focusing entirely on cash flow, not caring much about equity, and doing whatever she could to replace her outrageous W2 income. Now, just three years later, she’s financially free, and if you follow her steps and only make a THIRD of what she’s making, you will be too! In This Episode We Cover: How to get off the “hamster wheel” of working a W2 job and find financial freedom Using your retirement funds to invest in real estate (and whether or not it’s worth it) The unconventional short-term rental markets that make HUGE cash flow Buying homes with “negative equity” and how they can make you massive passive income Long-term vs. short-term rentals and whether the extra cash flow is worth more work And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch 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 Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Question David's BiggerPockets Profile David's Instagram Henry's BiggerPockets Profile Henry's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube See How Much You Can Earn on Airbnb Ask Your Seeing Greene Question 10 Deals on a $20K Waitress Salary w/Ashley Hamilton Connect with Kate Kate's BiggerPockets Profile Kate's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-873 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is the Bigger Pocket Podcast Show 873.
0:04.0	What's going on everyone? This is David Green, your host of the Bigger Pocket
0:07.2	State Podcast.
0:08.2	Join today with my buddy Rob Abisolo.
0:10.6	On today's show, we're going to be talking to a real estate investor named Kate Lynch
0:14.2	about her journey from a Wall Street investment banker to a real estate professional in her
0:19.2	40s.
0:20.2	This is a great show to listen to if you're a working professional wondering how you could spend more time with your family, your children, and those you love and also get the largest return on your investment.
0:29.7	After this interview, we're going to be answering an audience question in our Seeing Green segment, so you're going to want to stick around for that.
0:35.4	That's right, you're going to love that question. Rob and I answer one of the most commonly asked questions right now.
0:41.0	Very hot topic on if you should rent a property out as a
0:44.0	short term a midterm or a traditional rental and without further ado let's get to
0:48.6	Kate Lynch welcome to the show how are you today I'm great thanks. Thanks for having me. All right well thank you for that.
0:54.3	First question when and how did you become an investment banker? Oh gosh you know I I was just sort of your
1:00.4	stereotypical over-achieving, a straight a student, really hustled
1:05.9	my way into a job on Wall Street.
1:08.2	I wanted to be doing the best in anything that I could do and that was the creme
1:12.1	to la creme for people interested in finance so after I got an MBA I just worked my
1:16.7	tail off until I got there. Is it true that investment bankers work like
1:21.2	hundred hour weeks I've always heard this from every
1:24.0	investment banker that I've ever met. It was when I was on Wall Street. We
1:28.2	literally would work from probably nine in the morning until, well you had to work
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.