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

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 Tenant Screening: The Ultimate Guide NARPM – National Association of Residential Property Managers CrimeReports.com SpotCrime.com Rentometer.com Books Mentioned in the Show: Rich Dad Poor Dad by Robert Kiyosaki The 4 Hour Workweek by Tim Ferriss 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 Lisa’s BiggerPockets Profile Lisa’s BiggerPockets Video Blog Lisa’s website: www.AffordableRealEstateInvestments.com Learn more about your ad choices. Visit megaphone.fm/adchoices