How to Create More Passive Income With Fewer Properties?
Dec 18, 2023🎙️ As a little girl, Tera was always fascinated by anything related to the home. Especially the bright lights on those trips too Lowe’s. Rodney on the other hand knew that he wanted to do something within the community. He was heavily influenced by Dr. Martin Luther King Jr growing up. Rodney also shares his love for music and baseball. He shares life lessons from the game of baseball.
🎙️ Rodney and Tera share tips that you should look for in a potential mate.
🎙️ Their paths crossed real estate with a conversation where each of them didn’t know that the other was interested in real estate. Rodney would promise Tera that he would buy her a house one day. Rodney has kept his promise and then some with buying them several houses.
🎙️ Rodney shares the importance of having “peace out” money. You don’t want to be a slave to anybody. It’s depressing to be somewhere that you have to be instead of enjoying where you are.
🎙️ Rodney and Tera quickly realized that flipping property didn’t fit their personality. You don’t want to put yourself in a position where you are chasing a check. They prefer the guarantee of passive income from rentals. When properly set up, you can get paid over a lifetime.
🎙️ With real estate, you learn more lessons with the loses! They would rather do a good job one time and let those dividends keep paying them over a lifetime.
🎙️ Tenants are not Tera’s Spiritual gift. That’s the amazing thing about real estate. There are so many different strategies that you can keep trying until you find the one that fits your personality the best.
🎙️ The Houston’s strategy is to determine how can they make more money per property instead of having to acquire so many properties? Have a listen as to how they are able to do this! It’s like they took one property and created their own multi-family! Absolutely brilliant strategy!!!
🎙️ As an investor, it’s so important to have that third eye! Your ability to see what others can’t. Making $500 a month extra made it a no brainer to go over asking price $5-$10K.
🎙️ Their goal moving forward is to have more income streams per property. Maximizing the highest and best use of the property. Having more income with less properties.
🎙️ Staying around like minded people encourage you to do more and stay in the game when things don’t go exactly as planned.
🎙️ Tera doesn’t want real estate to be another job. Her sweet spot is the mid term rentals. Having someone in their property for more than 30 days.
🎙️ In putting a bow on this conversation, Rodney says there’s freedom in your niche. Listen as he unpacks what he means by this phrase. Then he adds the importance of having integrity.
🎙️ Tera says to walk in your purpose. Strive for excellence, not perfection.
🎙️ Link to stay in touch with the Houston’s:
https://mychrysalislife.com
🎙️ Link to previous podcasts:
https://www.coachdanaspencer.com/blog
