inspiring interviews with today's top landlords this is the rental income podcast and now dan lay

stacey murphy is joining me on the podcast today she's coming to us from dorm north carolina

and stacey has been buying historic properties that have been neglected and kind of run down

she's fixing them up and renting them out stacey i i want to figure has been buying historic properties that have been neglected and kind of run down.

She's fixing them up and renting them out.

Stacey, I want to figure out what you're doing and how you're doing this.

But before we get into that, I always like to start with asking people how they got into real estate.

So can you just tell us briefly how you got started?

Yeah, so I started. I came to Durham working in a PhD in the sciences, and I'd been working both in kind of public health and in the pharmaceutical industry before getting into real estate.

And I really love my hometown.

And we had bought an old historic property in Durham to kind of fix up and live in as we were finished.

My husband, I were finishing grad school.

And that's where I kind of got the rehab historic preservation bug.

And we did that for a while.

And after we got married and had some kids, there was a property that came up for sale in our neighborhood that seemed like a really good deal at the time.

And we had some extra cash that we could throw at it.

So we did kind of traditional funding, lending, and

to get a loan and purchase that home, just to have it as a turnkey rental property. And that was in

2009. And it worked out really great for us. It was relatively easy. It was a steady stream of

income. And so, and then that's, that's how it initially started.

And so that first property, it didn't need any work at all. It was ready to go the day you bought it?

Pretty much. It was a 1950s brick, three-bedroom two bath, really great rental, very close to the university here, and in a really

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