Making a Full-time Passive Income Without Being a Full-time Investor with Casey Franchini
Casey Franchini is a real estate investor, rental property coach for newbies, wife, and mom to 3 small kids. She makes a full-time passive income from rental properties without full-time investing and teaches others how to do the same.
In this episode, Casey shares how you don't need to have hundreds of properties to earn a full-time income. She talks about what she believes and does regarding her multifamily rental properties, making and netting a good amount of cash flows every month.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/
What you'll learn from today's episode:
- Find out the number of properties that will give you the financial independence that you want
- Discover a real estate philosophy and strategy that will give you a full-time income even when you're just a passive investor
- Hear about her techniques when buying rental properties that give her a good amount of cash flow now and in the future
Resources:
- Website: https://www.brickbybrickwealth.com/
Topics Covered:
01:06 - How those fun times seeing open houses led to real estate investing
02:21 - Finding her niche with flippers
02:52 - Uncovering a gold mine in rental properties when moving to Tennessee
04:13 - Sharing her philosophy and real estate strategy
06:38 - What she teaches and preaches about multifamily properties she invests in
07:25 - Not adding on but finding added value potential to the properties
10:22 - Her thoughts on the financial independence number
11:27 - Number of properties you need to gain a full-time income
12:30 - Goal in terms of when to buy properties
14:31 - Keeping specific percentages to equity and refinance on her properties
15:15 - Student success stories
16:25 - What does she think of hiring property managers?
17:56 - Setting up your team: the essential people you need to have and the red flags to watch out for
Key Takeaways:
"My strategy is to buy properties with your hard-earned money. Put your 20% down and buy in a very appreciating area with good cash flow now and good cash flow growth potential for the future and just let them be cash cows." - Casey Franchini
"I like to buy properties that once I do the hard work of buying them, fixing them up with quality repairs, materials, and putting a tenant in place. That's it; I'm done, and the property will appreciate, increasing my net worth, while I sleep." - Casey Franchini
"People don't realize that you only need a handful of properties to make a full-time income." - Casey Franchini
"A couple of skills to learn, you need to learn one, you just need to learn how to do it one time. You're not constantly relearning things all the time. And then you can go out and do it over and over again." - Casey Franchini
"Find an investor-friendly agent that works in the area you're looking in because you can need those potential off-market or pocket listings and the help with rental comps and things like that." - Casey Franchini
Connect with Casey Franchini:
- Website: https://www.brickbybrickwealth.com/
- Instagram: https://www.instagram.com/brickbybrickwealth/
- Twitter: https://twitter.com/brickbybrwealth
- YouTube: https://www.youtube.com/c/brickbybrickwealth
Connect with Dave Dubeau:
- Podcast: http://www.propertyprofitspodcast.com/
- Website: https://davedubeau.com/home
- Investor Attraction Workshop: http://www.investorattractionworkshop.com/
- Facebook: https://www.facebook.com/thedavedubeau
- LinkedIn: http://linkedin.com/in/davedubeau