Have you thought about what to do with your money after you’ve gotten out of debt?
What should you do with that extra money that’s not going toward debt payments?
Of course, there are numerous options:
- Should you pay off your mortgage early?
- Save for college?
- Invest for retirement?
- Plan a vacation?
- Start a business?
- Invest in the stock market?
But what about creating multiple income streams by investing in real estate?
In today’s video, I am so excited to bring you my interview with Lisa Phillips from AffordableRealEstateInvestments.com. Lisa is a real estate investment coach, specializing in Sub30K investment properties.
She helps people (and she’s done it herself) purchase rental properties for only $30-$40,000 total!
That’s NOT $30-$40,000 for a down payment for a rental property. That is for the purchase of the rental, including renovations and getting renters in the door.
In the interview, Lisa shares:
- Where to look for these properties
- Best practices for working with contractors to help you with the renovations, if necessary, and
- What to look for when finding good renters
If you’re not ready yet to invest in real estate and you’re still in the process of digging yourself out of debt, as we are, this interview with Lisa will motivate you to look at the bigger picture of what options are available to you beyond the debt — what you can do with your money once the debt is gone!
One point the interview says less about it is how to come up with the money to invest in real estate. Saving is the best way, but its also possible to borrow it. If you’re looking for funding, consider SoFi. They are a relatively new company, but they’ve got an interesting business model and competitive rates. Click here or check the banner below.
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I’d love to see you there!
Keep moving forward toward your goals. You really can live the life you dream about!
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Wow – the idea of investing as little as $30k to create a rental property income is blowing my mind right now! We’re definitely not to that point—we have plenty on our plate managing just our own home!—but this is a fascinating idea for the future.
I agree, Catherine! We’re definitely looking forward to investing in these properties once we’re debt-free. This is extra motivation to keep going so that our money can serve a better purpose than being put toward interest.
What a great topic to offer in addition to your inspiring posts about how to get out of debt. I wonder how many people have finished paying their debt and suddenly realized they didn’t have a plan afterward! This is great. Real estate is a wonderful, smart money move for so many!
Glad you liked it, Marlynn! That’s exactly why I brought Lisa on — to share that there are great opportunities for your money after debt.
I think that real estate is such a great investment – And it’s amazing that you can get started for just 30k!
I know! I was blown away when I met Lisa and she told me about these properties. We’ll definitely be investing in real estate when we’re debt-free.
I really appreciate that you bring in so many female voices and showcase their expertise.
I’m glad to hear that, Meredith! I’ll keep them coming!