Elizabeth Colegrove and her husband are budding real estate moguls. So far they’ve acquired 7 houses, and neither of them are 30 years old yet.
Between their 7 properties, they’re earning around $1800 in cash flow every month, and their tenants are paying off $1650 in loan principal.
But real estate investment is not without risks and Elizabeth joked that I just have easily could have called the episode 27 and $1.1 million in debt. We get into some of the ways she minimizes her liability during the call.
Owning rental properties is one of the oldest side hustles in the books, and for good reason. Over time you can build up a portfolio of cash-flowing assets, and as the years and decades go by, be sitting on a huge amount of equity that someone else paid off for you.
Elizabeth run the site ReluctantLandlord.net, though you’ll hear her strategies and investing plan are very intentional. On the site you’ll find some great resources for current and aspiring real estate investors.
We met briefly at FinCon and I was excited about her story and her straightforward approach.
This isn’t real estate wholesaling or some of the more aggressive strategies we’ve talked about in the past, but this definitely seems attainable as a side hustle. What do you think?
Is landlording in your future?
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7 Houses at 27: Building a Real Estate Empire on the Side <– click to tweet!
- The 3 pillars of real estate investing.
- The 1% rule and why Elizabeth doesn’t stress about it.
- How she plans to retire at age 42 with a 6-figure cash flow.
- What she looks for in potential houses to buy.
- Her property management techniques and strategies.
- How her and her husband acquire houses for low down payments.
- Her action guide for how you can get started in this side hustle.
- How she minimizes her risk and liability for each property.
- The factors that increase rental income — and those that don’t.
- Elizabeth’s #1 tip for Side Hustle Nation.
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