From $165K in Debt to Five Single-Family Rentals with Mindy Templeton
Mindy Templeton is a Kansas City-based real estate investor who was, at one time, $165,000 in debt. A mindset shift a few years ago led her and her husband to aggressively pay down that debt and start buying single-family rentals in the Kansas City area.
She and her husband have full-time jobs and are parents to two young children. She started Investinginyourwealth.com about two years ago as a way to track her journey to paying off that $165k of debt, and now that they are debt-free, she is working on building wealth through diversification. She is a firm believer in having multiple strategies for investing, so real estate is not her only strategy, but definitely her primary focus.
In this episode, we talk to Mindy about the mindset shift she went through that led them to adjust their spending habits, the creative way she acquired the funds for the downpayment on their first rental property, and why she doesn’t want to build a huge portfolio of rental properties.
What You'll Learn in This Episode
How Mindy Templeton and her husband dug themselves out of $165,000 in student loan and consumer debt
The two mindset shifts that allowed her to pay down debt
The generational divide when it comes to finances and retirement
How they leveraged a loan from their 401k and a relative's HELOC to purchase their first investment property
The difficulties of competing with cash buyers in this market
Why real estate is the perfect vehicle for frustrated entrepreneurs
Why Mindy is focused on building a small portfolio instead of a huge one
Why it's important to know what you want your life to look like as an investor
Why she prefers to invest in her local market
Why she prefers to have professional property management take care of her properties
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