Buying Her First Rental (on a Teacher’s Wage) by Looking Beyond Her Backyard w/Lauren Mattina
Description
Do you want to buy your first rental property but can’t find affordable real estate in your area? You’re not alone! As a science teacher living in New York City, Lauren Mattina was priced out of her own market. But a simple move helped her find a cash-flowing property and brought her one step closer to financial freedom, and YOU could do the same!
Welcome back to the Real Estate Rookie podcast! Lauren never had a high-paying job, but she knew that real estate investing could give her the option of early retirement. So, she continued living below her means and saved for her first property. With NYC out of the question, she turned her attention to Oklahoma City, where she found, bought, rehabbed, and rented out her first single-family home!
Are you being priced out of your own backyard? In this episode, Lauren will show you the steps she took to choose an out-of-state market, analyze her first deal, and build an out-of-state investing team. You’ll learn the secret to overcoming analysis paralysis, how to properly vet a property manager, and how to get your offers accepted in a hot market!
In This Episode We Cover:
How Lauren bought her first rental property (on a teacher’s salary)
Analyzing rental properties (and markets) as a complete beginner
How to find up-and-coming, out-of-state markets to invest in
The number one thing that will help you overcome analysis paralysis
The “rule of three” to follow when building your real estate investing team
How to make your offers more enticing in a competitive market
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Ask Your Question on the BiggerPockets Forums
Buy the Book “Long-Distance Real Estate Investing”
Find an Investor-Friendly Agent in Your Area
How to Choose an Out-of-State Market for Investment (in 3 Easy Steps!)
(00:00 ) Intro
(01:13 ) Why Real Estate?
(06:55 ) Lauren’s First Deal
(13:25 ) Out-of-State Investing 101
(20:34 ) How to Build Your Team
(25:12 ) Buying the Next Property
(28:35 ) Advice for New Investors
(29:20 ) Connect with Lauren!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-470
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