One thing I've realized from multiple BRRRS....especially now..banks need the business...therefore they will give you money via inflated appraisals. So it's not what the market says it's worth but the bank if you catch my drift. Make the bank happy.
@cruzmissile253 ай бұрын
Very good interview, these stories help reinforce that dreams of real estate is possible
@mlegrl3 ай бұрын
Yes! We’re just normal people out here. If we can do it, anyone can! 🙏🏻
@m.a.l.l.y1383 ай бұрын
Great episode! Good to see likeminded individuals that saw a way out of a 9-5 and had the faith to keep going after all these years following the same principle from day one. This was a unique story.
@mlegrl3 ай бұрын
Thanks!! That means a lot 🥹🙏🏻
@Lovingmylife243 ай бұрын
Definitely can relate. I am now more interested in putting my money in real estate instead of a car and vacations.🤷♀️
@mlegrl3 ай бұрын
That’s awesome! There’s something to be said about delayed gratification 😊
@Lovingmylife243 ай бұрын
@@mlegrl yes!
@aprilvancleve94633 ай бұрын
Thank you, you guys! I found this one to be very inspiring. It brings me hope, focus and direction.
@richardjudge23223 ай бұрын
Thank You Ashley, and Emily for sharing.
@avirexj2 ай бұрын
Just wanted to say thank you for the content guys, I can relate as well - I snowballed with my girlfriend last night.
@jjsupremeorta152 ай бұрын
Average people try to hold you back in their POV on life
@AndrewHolbert2 ай бұрын
Everybody around me thinks I'm crazy and that my goal of at least 5 rental properties is too farfetched. Kinda makes you feel defeated sometimes when the people you love suggest the normal 9 to 5 jobs. I was Active-duty army for 4 years and I would much rather be doing that then working a dead-end job. I'm actively going to real estate school to be an agent and I'm slowly realizing that I'd much rather stay stable at my current job with a side Hussle so that I can afford a down payment on my first rental.
@mlegrl2 ай бұрын
@andrewholbert yes!! I think you are spot on. We stayed in our W2's as long as we could so we could keep getting financing. I would highly recommend having a side hustle and maximize the benefits of a W2 for as long as possible. :)
@javanjackson6918Күн бұрын
Definitely keep that W2 and at least get a few rentals before quitting. Honestly I would keep it till you can live off of rental income. I am self employed and it makes it so much more difficult
@aarongillette44203 ай бұрын
@emily we have a real estate meetup tonight in syracuse!!
@Get-VerticalАй бұрын
Super inspiring podcast!!! Thank you
@m.a.l.l.y1383 ай бұрын
I’m in the same situation now!
@markmaue4382 ай бұрын
I’m right across the river in Edwardsville and we’re starting with buying the duplex we are in.
@mlegrl2 ай бұрын
that is awesome!! Edwardsville is a great market :)
@jeffpratt6052 ай бұрын
so this is what I strugle with all the time how much of your cash money is invested into your rentals ? What if you take that cash and put it in the bank no risk 5%? example is you have $100,000 in each rental = 1.2million at 5% in bank no risk using current rates = $60,000 are you netting more then this from rentals?
@Brandon-ez5xx2 ай бұрын
my personal thoughts. first, idk what their cashflow is but probably higher than this. On top of the cash flow, they are building equity on each property as they pay off the loan. The more equity means if they were to sell, they will be able to get more cash out of it. second, 5% is historic high, it's like to go down in the future and never reach close to this rate.
@jchamilton44762 ай бұрын
How safe is this? I’m not being difficult Im just afraid of all that debt
@mlegrl2 ай бұрын
Honestly I think we had a more conservative approach! As long as the numbers make sense and you are cash flow positive and have reserves in the bank, you can balance the risk. Worst case scenario, you can always offload properties and sell them! If you run the numbers correctly, the risk should be minimal (but nothing is without risk)!
@jerowm55682 ай бұрын
The debt is good debt if you control the property & it generates revenue.. all business run off debt, what matters most in business is that you generate revenue. If you pour in the capital upfront w/ new appliances, new furnace, A/C, water heaters ect.. then you’re in one of the safest investments possible given you’re properties are not in tornado alley or hurricane harbor. VET your tenants as if they are moving in with you and you’ll be fine. It’s all about screening your tenants, you’re not running a charity, you are running a business
@trevorssillyplace2 ай бұрын
just saying it’s no different then you solely relying on your job to pay ur bills if you lost that job and couldn’t get another you would actually be more fucked then if you couldn’t rent out that house because you could sell it if needed.
@Thrive9102 ай бұрын
What do you do for health insurance?
@mlegrl2 ай бұрын
@thrive910 I found a health insurance broker and they hooked us up with Freedom Life. It's about $600/mo for me and my husband and the coverage is comparable to what I was getting at my W2!
@TorqueKMA2 ай бұрын
If the housing market were to drop... these people would find themselves hurting.
@mlegrl2 ай бұрын
@torqueKMA but we're not selling our properties, so even if the market prices tank, it doesn't really matter to us. That's the beauty of buy and hold investments. The ole saying goes "it's not about timing the market, it's about time in the market" 😄
@rbdg662 ай бұрын
Funny, I interned with Anhuesier-Bush as an engineer, but this was years ago.
@mlegrl2 ай бұрын
small world!!
@stillhopeful7048Ай бұрын
Where did she find cash flowing houses like that!
@teddybear79672 ай бұрын
At least u r not at the brewery 😂
@suburbanacquisitions8682 ай бұрын
So the million dollar question, what do you do for insurance???
@renesilva2412 ай бұрын
Just buy insurance
@mlegrl2 ай бұрын
We use Shelter Insurance! I always ask my lender if they have any insurance recommendations.
@suburbanacquisitions8682 ай бұрын
@@mlegrl for house or for yorrself (health)
@mlegrl2 ай бұрын
@@suburbanacquisitions868 Oh, Shelter for property insurance. For health insurance, I use Freedom Life insurance that I got through a broker. It's about $600/mo for me and my husband and it's been pretty good so far!
@gsc03052 ай бұрын
6figure like $100,000? Which is not much money. They wouldn’t have left if they were making $900,000
@mlegrl2 ай бұрын
No you're right, I would not have left if I was making $900,000 hahaha
@arielleb.89372 ай бұрын
What job pays 900k? 😂
@mlegrl2 ай бұрын
@@arielleb.8937 right haha I will be the first to apply 🤣
@marioandultrachap3 ай бұрын
She lives in my neck of the woods. Tell her to hit me up later and hook a bro up.😂
@evanazeria2 ай бұрын
so basically live in Missouri if you want to buy a house for 90k
@6bat6manz6thesh1t2 ай бұрын
You have to take risks or you won’t get anywhere that’s worth it
@mlegrl2 ай бұрын
@evanazeria 😆 yeah, I think the Midwest markets are typically the most affordable. But as long as you buy something with room to build equity, I think it's a solid strategy!
@hamjaq9923 ай бұрын
I’m a real estate investor. I am aim to acquire properties in the future. I’m want my investment to replace my current income.
@mlegrl3 ай бұрын
Yes, do it! It takes time but it’s possible 😊
@imeldainterino77472 ай бұрын
Do you want to invest in Texas? I'm a listing agent and got a good deal 🎉
@heathdunn1999Ай бұрын
This show is soooo hard to watch sometimes lol
@leighaortiz24952 ай бұрын
@mlegrl interested in learning more about the st louis market! Such a great episode!
@mlegrl2 ай бұрын
Thank you!! :) STL is a great market!!
@niteshreddy32263 ай бұрын
amazing episode !! @mlegrl may i know how we can reach out to you ?