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EP 152: Retiring at 27 with $10k a Month in Passive Income

The beautiful thing about achieving financial independence through real estate is that it frees up time so you can pursue things you are passionate about. On today’s episode, we talk with Rachel Richards, investor and author, about how she was able to quit her job and retire at 27.

Rachel started investing in 2017 and quickly grew her portfolio to almost 40 rental units by the end of 2018.  We discuss with Rachel the step by step process it took for her to grow her portfolio, lessons learned as a long-distance investor, how she funded these properties, and what it was like to transition into retirement from full-time work. Rachel also shares the systems and apps she uses to efficiently manage her portfolio.

Rachel Richards owns almost 40 rental units within six properties. She has two single family homes, one duplex, and three buildings that are 10-12 units. She acquired all her properties between 2017-2018 and were purchased with combined funds with her husband. All have conventional mortgages with 20-25% down payments. At the age of 27, Rachel quit her job and retired, living off over $10,000 per month in passive income. She is the bestselling author of two books on financial literacy, and a former financial advisor.

On today’s episode, we discuss a ton with Rachel including:

  • How patience found her a great first deal
  • The importance of having specific criteria
  • Mistakes to avoid when investing long distance
  • How to get over the fear of quitting your full-time job.

 

Books/Resources

Money Honey by Rachel Richards

Passive Income Aggressive Retirement by Rachel Richards

The Miracle Morning by Hal Elrod

The Five Love Languages by Gary Chapman

FREE GIFT - Passive Income Starter Kit www.moneyhoneyrachel.com/bonus

 

Contact Information

www.moneyhoneyrachel.com 

Facebook - Money Honey Rachel 

Instagram – moneyhoneyrachel

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InvestHER Community

The Real Estate InvestHER® is more than a community - it is a movement. Our mission is to empower women in real estate to live a financially free and balanced life. We are dedicated to creating empowering online and in-person communities where women have a non-intimidating environment to receive the support, knowledge, and accountability to live life on their own terms. 

How To Join the InvestHER Movement  

1.  The Real Estate InvestHER Membership 

This one-of-a-kind membership offers women investors a supportive community and a step-by-step roadmap to create a steady recurring income to live life on their own terms. Members receive custom content that specifically helps them wherever they are on the path to financial freedom, on-demand and live events that fits into their busy schedules, and mentorship and accountability to propel them to take their business to the next level while taking care of themselves in the process. Join here.

2. The Real Estate InvestHER Podcast
The weekly show that has been downloaded hundreds of thousands of times across the globe details the journey of the most amazing women real estate investors, who open up their lives and share practical and strategic tools for building wealth, becoming financially free, and the mindset to balance it all.

3. InvestHER Community on Facebook
We have thousands of experienced and newer community members in our free Facebook InvestHER Community group. This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!  Join here.

4. InvestHER Meetups Around the Globe
We have thousands of Meetup members attending dozens of InvestHER Meetups across the country and Canada.  Meetups are being held monthly by experienced InvestHER Meetup Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Meetup Leader HERE!

5. Amazon Bestseller: The Only Woman in the Room by Ashley Wilson
Twenty incredible women share how they were able to achieve financial freedom in a world historically dominated by men. From residential to commercial, this book is packed full of knowledge and inspiration on all facets regardless of where one is in their real estate investing journey. Our passion behind this book is to help women secure a financially strong future especially during these unprecedented and uncertain times.

“Throughout my career there were multiple occasions where I have stood as the only woman in the room.  This powerful book is a must read and I only wish it had been available early on in my career!”
-Barbara Corcoran (Founder of The Corcoran Group)
Click here and get your copy TODAY!

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