119: A Single-Mom’s Second Chance at Success with Real Estate Investing

Susan Reehill has defied the odds time and time again. She was a teenage mother, having her first son at the young age of sixteen. For most young and single mothers, the chance of becoming a homeowner, let alone an investor is slim, to say the least. At forty-two years old, Susan decided to make two big jumps in her life and career: graduate from college and buy her first home. She succeeded at accomplishing both. As the years passed by, Susan wanted to be a closer distance to her local downtown area. So, she decided to look at buying a new home. When her old home was having a hard time selling, she decided to try and rent it out, which she did with very little property management knowledge or landlording skills. Her tenant brought in ten different individuals to live with her, half of which weren’t authorized on the lease. In only six months, her tenant did more damage to her house than Susan had done in the several years she lived there. But, this didn’t stop Susan’s will to create long-lasting wealth. She began listening to more real estate podcasts, one of which was the Real Estate Rookie podcast. She ended up joining Ashley’s first round of the Real Estate Rookie Bootcamp, where after 90 days Susan was able to score a phenomenal deal, over $100k+ under the asking price! In This Episode We Cover Breaking through the societal norms of who you’re supposed to be at a certain age Becoming an “accidental landlord” and what everyone should know before they rent their home Making it known that you’re an investor who is actively looking for good deals Why a deal is still a deal even if you have to pay PMI (private mortgage insurance)  Finding contractors through meetups, fellow investors, and Facebook groups Why you don’t need to be rich to start investing in real estate And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Real Estate Rookie Bootcamp Rookie Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The “Nomad” Strategy Investor Girl Britt's Instagram BiggerPockets Check the full show notes here: https://www.biggerpockets.com/rookie119 Learn more about your ad choices. Visit megaphone.fm/adchoices