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A 31 Year Old’s Journey to $5,000,000 in Rental Property Value

Last Updated: November 21, 2020 BY Michelle Schroeder-Gardner - 5 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Today, I have a great article to share with you from Kyle Kroeger on how to invest in real estate. He has a goal of reaching $5,000,000 in rental property value, and is sharing his plan today.

Real Estate Investing - A 31 Year Old's Journey to $5,000,000 In PropertyThe prospect of retiring early on real estate is highly intriguing to me. It should be for a number of people and I’ll highlight a bit more below.

For millennials, like me, we don’t have it easy. Despite the mainstream media’s thoughts, millennials have faced a Great Recession, massive student loans and a global pandemic already at a young age.

We’ve seen a lot but that can be used to our advantage for financial planning and life goals.

That’s okay if things are a bit harder for millennials financially. It’s a bit more fun when things are hard.

Here I’m ready to show you why real estate investing can be a great asset class.

Related content:

  • How This 29 Year Old Is Building A Real Estate Empire
  • How This 34 Year Old Owns 7 Rental Homes
  • 20 Ways I Saved a 20% Deposit To Purchase My First Investment Property At 20
  • 11 Tips For Renovating An Abandoned 115 Year Old House On A Budget

[Read more…]

5 Comments
Filed Under: Budget, Career, Real Estate Tagged With: Budget, Career, how to invest in real estate, Real Estate

How We Reached Financial Independence Using Airbnb & Real Estate – Plus Strategies During The Pandemic

Last Updated: December 30, 2020 BY Michelle Schroeder-Gardner - 1 Comment

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Hello! Today, I have a great guest post from Boris and Susan. They purchased their first real estate property in 2017, and became Airbnb hosts. This was a 4-bedroom home that ended up generating them $120,000 in revenue in the first 12 months. They now host close to 10,000 guests per year across all of their properties and do all of this remotely. Below is their story, enjoy!

A foreword given the current state of the world

We wrote this post back in February to describe and share our experience using real estate and Airbnb over the past 3 years to build additional sources of (semi-passive) income. As everyone else, we had no idea that the world would change so dramatically in less than a month after that.

However, although it certainly did change – especially given that the travel and hospitality industry came to a grinding halt and caused a few heartburn-filled weeks – the fundamentals remained valid. 

As we’ll discuss towards the end of the article, we’ve been able to make adjustments and pivot in a way that kept our properties occupied, covering costs, and still generating a profit (albeit a smaller one than usually).

The truth is that if we’re looking at a 3-9 months horizon, things will remain challenging and uncertain. However, this was never a short-term strategy for us, as we try to plan for the next 3-10 years and make decisions based on that sort of a timeline. But first, let’s start in the beginning.

_______________________

Here’s how it all got started as Airbnb hosts.

For many years, real estate was not really on my radar.

I was happily renting, enjoying the flexibility that it offered, and generally thought of real estate in the context of owning your own home – mainly that it limited your options and didn’t really bring too many positives, other than the hassle of maintenance and doing your own lawn every Saturday.

When I met my wife, Susan, on the other hand, she grew up with a completely different mindset.

When she was growing up in China, the common wisdom was that you should always strive to own your own place as soon as you can afford it.

When she moved to the U.S., she maintained the same viewpoint that owning real estate is a key to becoming financially secure. [Read more…]

1 Comment
Filed Under: Budget, Career, Extra Income, Real Estate Tagged With: Budget, Career, Extra Money, Real Estate

How This 34 Year Old Owns 7 Rental Homes

Last Updated: January 10, 2021 BY Michelle Schroeder-Gardner - 29 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

How This 34 Year Old Owns 7 Rental Homes #rentalrealestate #makeextramoney #landlord #passiveincomeMy monthly Extraordinary Lives series is something that I’m really loving, and I’m back with another great interview. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Paula Pant, a 34-year-old who owns seven rental homes, which last year grossed $125,000 and netted $43,000 after expenses!

You probably know her from the super informative blog Afford Anything. I’ve been a big fan of Paula for a long time, so I’m so happy that I was able to interview her. 

In this interview, you’ll learn:

  • How she got into real estate investing.
  • How she was able to afford so many rental units.
  • What she looks for in a rental unit.
  • The types of property she invests in.
  • How much time and money it takes to invest.
  • How she manages rentals in a different part of the country.
  • Her worst renter.
  • The sacrifices she had to make to make this all possible.

And more! This interview is packed full of valuable information!

She also created a freebie for my readers – download her free step-by-step guide! [Read more…]

29 Comments
Filed Under: Budget, Real Estate Tagged With: Extraordinary Series, Hustle Series, Real Estate

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My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.
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