From $17K/Year Teacher Salary to Financial Freedom with Repeatable Rentals
How does a teacher with a LOW salary achieve financial freedom, let alone invest in real estate? Surprisingly, it’s not as hard as you think, and if you repeat the strategy from today’s show, you could reach financial freedom much sooner than you’d planned. In this episode, we’re talking to Corby Goade, who, not too long ago, was a teacher making just $17,000 per year at the start of his career. So, how did he begin building wealth and replace his AND his wife’s income?
After fixing up an outdated house he bought after college, Corby was shocked by how much equity he had made. With some basic painting, new flooring, and simple upgrades, Corby made twice as much in equity as he did teaching. From there, a rinse-and-repeat-type strategy formed as Corby slowly began buying rental properties whenever he could, even with his tiny teacher’s salary.
Fast forward to today, and Corby and his wife are financially free, running multiple businesses and living life on their terms. They still own that first rental, even though Corby did “everything wrong” (his words), and his first tenant almost destroyed the property. Still an active investor, Corby says that deals just like his first one are on the market NOW, even in 2024. He shares his exact buy box you can use TODAY to find properties like this, walk into equity, and achieve financial freedom just like he did.
In This Episode We Cover:
The repeatable real estate investing strategy beginners can use to build wealth fast
Why house hacking is the easiest way to invest in real estate and start making/saving money
Why you can still reach financial freedom, even if you do EVERYTHING wrong on your first rentals
The exact buy box Corby uses today to find undervalued real estate deals (even in an expensive market)
Corby’s best advice to get real estate deals sent straight to your inbox
And So Much More!
Links from the Show
Try the BiggerPockets Real Estate Investment Calculators on Your Next Deal
Let Us Know What You Thought of the Show!
See Dave at BPCON2024 in Cancun!
House Hacking 101: What It Is and How to Get Started
(00:00) Intro
(01:47) Accidentally Making Double His Salary
(06:58) Doing Everything Wrong
(11:07) Surviving the 2008 Crash
(16:37) Quitting His Job
(19:51) What a "Deal" Looks Like
(29:26) How Much These Deals Make
(31:12) Get Deals Sent to You!
(32:22) Best Tip for Newbies
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1003
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