Building Wealth One Rental at a Time with Michael Zuber
Michael Zuber – the author of the book One Rental at a Time, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Michael talks to us about his journey, which started as being a full-time employee at 30 years old, working insane hours all over the world, and then growing his rental portfolio from a single house to currently about 175 doors. He talks about some of the hurdles many investors who work full-time encounter and the ways they can avoid them.
Key Lessons Learned: Pay attention to the affordability index in whatever market you are investing in. Is your market affordable for the average person who lives there? Also, if you are a high earner with a good-paying job that takes a lot of your time, leverage other people’s time and experience rather than trying to add the additional work of managing, marketing, and finding deals.
How did they acquire their knowledge or what knowledge did they need to acquire? He read a lot of books and he had to learn how to evaluate his chosen market.
How much money did it take to get started? About $35,000 to purchase and rehab their first property.
How much time does it take now? He spends a lot of time doing other things related to his real estate investment endeavors but most of the work is handled by property managers.
Could they do this strategy from anywhere in the world? Mostly no. Michael Zuber’s strategy is predicated on choosing a nearby market that is within driving distance of where he lives and learning it well.
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