Real Estate Rookie 34: School Teacher Making $72,000 a Year in Cashflow with Amy Barber
What do you get when you combine Dave Ramsey-style frugality with aggressive deal-finding tactics? You get teacher Amy Barber and her fiancé, Jay – and their $6,000 monthly cashflow in rural Iowa.
In this episode, Amy shares her strategies for buying foreclosed ranch houses in cash, cleaning them up, then refinancing so she can repeat the process again and again.
Think no one's doing deals during the pandemic? Well, she's bought 4 houses in the past 4 months, and plans to keep going until she's making enough to comfortably leave her W-2 job.
If you're looking for guidance on how to build the financial foundation so you can invest in real estate from a position of strength, Amy's story will fire you up and get you ready to take that most important next step toward "getting rich slowly" just like her.
By the way, Amy came to our attention through the Real Estate Rookie Facebook group. If you find other awesome investors who would make a great fit for the show, tag us or send them to biggerpockets.com/guest so they can apply.
In This Episode We Cover:
- How Amy got started as an "accidental landlord" during the Great Recession
- Buying 4 properties in the last 4 months
- Finding deals through her fiancé's job in foreclosure preservation
- How they bought a foreclosed house and created $50k in equity
- Taking Dave Ramsey's course to get her finances under control
- Delaying gratification and making sacrifices to create enough cashflow to quit her W-2 job
- Working 2 jobs and doing real estate on the side
- And SO much more!
Links from the Show
- Real Estate Rookie Facebook Group
- Felipe's Instagram
- Ashley's Instagram
- BiggerPockets Forums
- BiggerPockets Podcast
- Financial Peace University by Dave Ramsey
- Airbnb
- Outdoorsy
- Mint
- Cozy
- Stessa
- Apartments.com
- Asana
- Zillow
- Brandon's BiggerPockets Profile
- BiggerPockets Money Podcast
Check the full show notes here: https://www.biggerpockets.com/rookie34
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