54: Investing in Under $30k Real Estate, Working a Day Job, and Good Vs. Bad Neighborhoods with Lisa Phillips - a podcast by BiggerPockets

from 2014-01-23T07:00

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How much money does it really take to buy a rental property?

$200,000? $100,000? $75,000?

On today’s show, we are going to chat with Lisa Phillips, a real estate investor who buys real estate in the under-$30,000 range and achieves some incredible cash flow from her mostly-passive investing. Lisa shares some amazing insights into how she went from a personal foreclosure to owning several rental properties – bypassing the banks and investing creatively. If you are someone who is looking to get started investing with real estate investing without spending hundreds of thousands of dollars – this is the show for you.

Read the transcript for episode 54 with Lisa Phillips here.

In This Show, We Cover:

  • Investing in real estate while navigating the instability of day jobs
  • How going through a foreclosure changed Lisa’s financial future… for the better
  • Knowing when to call it quits
  • Tips for negotiating with creditors
  • What makes motivated sellers attracted to a certain real estate investor?
  • Tips for defining a good vs bad neighborhood
  • Finding a property manager who exceeds your expectations
  • How much does a good property manager charge?
  • Simple tips for attracting the best tenants to your rental properties
  • The positives and negatives of low-price investing
  • What crimes are acceptable?

Links from the Show

Books Mentioned in the Show:

Tweetable Topics

  • “Be clear & upfront with what you can do for other people. What’s in it for them?” (Click to Tweet!)
  • “Landlords: never sacrifice your standards just to fill a vacant unit.” (Click to Tweet!)
  • “When looking to invest in real estate, leverage the power of the internet.” (Click to Tweet)

Connect with Lisa

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