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Starting at Age 45 With a "1% Rule" Property (in New Jersey!) With Tricia Baxter
Description
She read Rich Dad Poor Dad, got angry at herself for not having built multiple income streams... and decided to do something about it!
Tricia Baxter is a real estate rookie who got in the game in her mid-40s. In this episode, she shares how she built a healthy portfolio of small multifamily properties on the Jersey Shore.
Tricia's a busy professional with her own law practice, but she still decided to self-manage when she got started—namely, to learn the ropes and create standard operating procedures, which came in handy when she eventually hired a property manager (spoiler: that's her MVP!).
This episode is full of great tips for anyone who aspires to treat their real estate investing like the business it is!
In This Episode We Cover:
- Self-managing your first property as a learning exercise
- Why Tricia chose to buy long-term rentals in a touristy area
- How she finds great vendors using private Facebook groups
- How to handle raising below-market rents
- Her tips for financing deals creatively
- Juggling real estate with a demanding career
- The importance of multiple income streams
- And SO much more!
Links from the Show
- Real Estate Rookie Facebook Group
- Felipe's Instagram
- Ashley's Instagram
- BiggerPockets Podcast
- Tony Robbins
- Robert Kiyosaki
- BiggerPockets Insights
- BiggerPockets Wealth Magazine
- BiggerPockets Calculators
Check the full show notes here: http://biggerpockets.com/rookie18
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