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0You want to buy a rental property, but there’s one problem: you don’t have the money! The good news? You’re not as far away as you probably think. If you want to save as much money as possible for a down payment, today’s guest will show you how. In just two years, she went from zero to building a strong financial foundation and taking down her first property!
Welcome back to the Real Estate Rookie podcast! When Mimi Fall was laid off from her W-2 job, it was the last straw. In that moment, she decided to take responsibility for her financial future, and that meant getting a better job, cracking down on spending, and throwing every extra dollar toward savings.
All of Mimi’s hard work paid off, as within two years, she was able to buy her very first rental property. Today, she rents out rooms to tenants, and the total rental income covers her entire mortgage payment and then some. In this episode, she shares her step-by-step roadmap for getting your finances in check, her favorite personal finance tips and tools, and property-saving advice for all new landlords!
In This Episode We Cover
How to save money (faster) and buy your first or next rental property
Mimi’s journey from being laid off to chasing financial freedom
Covering your mortgage (and then some) with the rent-by-the-room strategy
How to lay a strong personal finance foundation (starting from scratch)
How to pin down your long-term real estate investing goals
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-717.
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