From Poor Beginnings to Rental Property Powerhouse

Do you need to be rich to buy a rental property? Arguably, no. In reality, you don’t need a lot of experience, know-how, or cash on hand to buy your first income property. But, you need to at least be resourceful, take advantage of your opportunities, and have the tenacity to follow through on your goals. If you have all those qualities, you may be a great real estate investor, or maybe you’re today’s guest, Erika Brown.

Erika wasn’t raised by real estate investors. No, this was a skill she had to learn completely on her own. In fact, she learned the real estate sales skill without even knowing it! When Erika moved to a new neighborhood in the Atlanta, Georgia area, she was consistently convincing friends to buy properties around her home. She passed these leads along to a local real estate agent until she realized she was casually handing over six figures in commissions.

So, she went ahead and got her real estate license, and later turned a pocket listing into her first real estate investment. From there, she saw a profitable path laid out, all she needed was the partners, lending, and work to actualize it. Now, Erika is sitting on a sizable real estate portfolio, building purposeful and profitable businesses so she can employ members of her community and lead the wealth generation movement in her circle!

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Episode 572

Show notes at: https://www.biggerpockets.com/show572...

0:00 Intro
3:03 Quick Tip
4:21 Leaving the Corporate Grind
7:48 Doing What the Wealthy Do
10:51 Erika's Current Portfolio & First Deal
15:18 Becoming a Real Estate Agent
19:18 Cashing Out Retirement to Fund Rentals
20:54 Getting Around Investor Roadblocks
30:12 Developing Your "Investor Mindset"
34:08 Building "Purpose-Driven" Businesses
36:25 Erika's Investor Superpower
42:22 Deal Deep Dive
48:47 Fire Round
52:45 Famous Four