Episode Details

Paying Off $100K in Debt with 3 Rentals Thanks to THIS Low-Money Strategy w/Dave Williams

Episode 378 Published 2 years, 3 months ago

Description

Could rental properties help you switch careers, replace your W2 income, or get out of debt? According to today’s guest, yes! Once Dave learned of the flexibility that real estate investing could offer, he left his established career behind and never turned back!

Welcome back to the Real Estate Rookie podcast! Dave Williams and his wife were working as traveling physical therapists when they determined that their careers wouldn’t support the lifestyle they wanted. So, they turned to real estate and adopted an amazing strategy—one that allows them to buy a house every few years with low money down before eventually moving out and converting it into a long-term rental. By repeating this strategy, they have been able to build a small, local portfolio with cash-flowing, appreciating properties!

In this episode, Dave talks about the value of 2-1 buydowns and the one question you must ask before starting any home renovation project. Looking for a market to invest in? He even shares a list of the BEST neighborhoods in the greater Denver area. But like any investor, Dave has had a few horror stories as well. Stick around to hear how one of his rentals flooded not once, not twice, but THREE times!

In This Episode We Cover:

How Dave paid off $100K in debt with only THREE rental properties

Buying new properties with low money down and converting them into rentals

The one question you NEED to ask before making any home renovation

How to find properties that deliver cash flow AND appreciation

The BEST markets to invest in around Denver, Colorado

2-1 buydowns explained (and when you should use them!)

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile