Buying 10 Houses in 10 Years with Liz P.
Want to retire in your 40s but have no idea how to get there? In this episode, Allegra chats with Factora's Community Manager, Liz P, about her plan to reach financial freedom by the time she's 45 by purchasing 10 houses in 10 years.
What you’ll learn:
How she came up with this goal
The steps she took to get started
The creative ways she plans to purchase each house
How much she's hoping to cashflow from each property
Featured in this episode:
Watch the recording for How to do a 401(k) and Stop Leaving Money on the Table
Download our FREE financial framework workbook
Learn more about the Wealth Circle
WATCH THE VIDEO
LISTEN TO THIS EPISODE OF COFFEE & COIN
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Welcome back to another episode of Coffee and coin. I've got Liz P from the Factorio team on the pod with me today. Welcome. Hi, I'm really excited to be here. We were just talking before we press record that this is actually your first podcast ever. Yes. And also your first podcast as a factor a team member, which I mean, I make the whole team talk to the world. So welcome to being a part of the wealthy women gang who loves to share. I mean, I know you love to share with us and everyone in the community. But thank you for agreeing to do it in this more
universal way, because this can get to a lot more people than inside of our Slack community. But what's worth knowing about Liz besides the fact that she is an extreme wealth builder, she just loves money in the same way I do. So we really connect there. She is also our senior product and Community Manager at FACTOR app, which means she works on making the wealth circle experience better for all and she's done a bang up job of that so far. And she manages our private, wealthy women's community on Slack, which has only gotten more buzz more exciting, more conversations happening since you've taken charge because I was not good at managing it. So we are grateful to have you and your path to becoming this position on Team factor. Laura was really authentic. I mean, you took a while circle. We'll talk about that. And then you never really left which is how the best people in team Factoria do it. They're like no, no, this is the thing. This financial freedom seeking and flipping money on its head and not worrying about earning from a job but really focus on investing my income
is the exciting thing that I want to be around for so you stayed you were a facilitator for the wall circle then. Now here you are a full time role I factor, sir. Yeah, I am. weaseled my way into becoming a full on team member once I took my wild circle, I knew it was something special and something I wanted to be a part of. So I'm really honored to have a role here. I love you saying that you weaseled because that is the exact way I've referred to myself. Whenever I talk about my career, I've found a company that I wanted to work at and I annoyed the piss out of them until they were like okay, okay.
We're gonna let you work here. We're not really happy about it because it feels like you've twisted our hands, whereas in this situation, it's very different. We are so grateful to have you and let's get into the show. Okay, so first off, where are you calling from? I am calling in from Tampa, Florida. We live about 30 minutes outside of the city. We are closer to the beach in Pinellas County for anyone who actually knows different parts of Florida. And this episode is all about the path to purchasing 10 properties, which was a big goal for you that came out of taking your wealth circle. So I kind of want to jump in
to how you came up with that goal, and then we'll talk about your first house that you're calling in from, which is in Florida. Yeah. So in building out my goals, I am married. So my husband and I really sat down and went through ball circle homework together, because it's our dream and vision for the future. While I have my own specific goals, we share all of our money and our finances. So it was, how can we reach financial freedom as fast as possible in a way that felt attainable, but also a stretch. I've seen firsthand how real estate can work in your favor. I have had grandparents who have had investment properties down near shore port where I lived growing up, my parents have a second home down at the shore that they pay the entire mortgage just from summer rentals. And so I know real estate can be the vehicle to get me there. And also to while keeper investing is fun, I really like to see and hold my assets. So real estate just allows for a little more creativity than paper does. So the path to 10. It feels reasonable to us immediate sounds crazy to some divide one house a year, for 10 years, we came up with this goal when I was 30. So we want to be done by the time I'm 40. And then hopefully work optional around that time, if not a couple years after. So that is kind of how the dream came to be okay, so it's not just 10 houses, it's 10 houses and 10 years, y'all. And when you came up with the stream, you had no ownership in any homes. Correct. We were renting at the time in San Diego, which is a very high cost of living area. We were paying a mortgage sighs rent, I was paying more on my rent than my parents pay for their own mortgage. And I was living in 700 square feet. The location was ideal. But once I took the wealth circle, it really became clear living in that area was not in alignment for what we wanted long term. Okay, so then what happened because you did a bit of a road show to get to property one, if you are renting in San Diego, and you're now living in your first property in Florida. So give me the kind of post well circle created this 10 properties and 10 year goals and then set out. Yeah, so we were like, well, if we're not going to buy a property here, where are we going to buy is going to be our first primary residence is it going to be a house we buy in a different state because getting into the market in Southern California is really challenging, we could have bought a condo, but that would have come at the cost of a 500 to $700 month Hoa, which is money you don't get back. So that didn't feel in alignment with us either. We know we want to eventually expand our family. I was working from home for myself at that time that my husband was in the office, that I encouraged him to find a fully remote job. And then we were like, Okay, we're going to travel for an entire year. And now that we both work remotely go to different domestic destinations across the US are places we could potentially see ourselves living that have a lower cost of entry. And then we're going to pick one after a year, we got to fulfill our dream of living on the road for a year. It was a great experience, but also a lot. We're very happy to be home buddies again. And then we just kind of went through the gamut. We narrowed it down to two places based off of our goals and what's in alignment of being near outdoors stuff, being close to the beach and things like that. And then we just picked a spot and it's a blessing and a curse working fully remote because we could have lived anywhere. So it just kind of came down to we had to make a decision and we just made the best decision we could at the time. Okay, so give us a little rundown of year on the road. What were these domestic cities that you are checking out? And then what were the final two? Yeah, so we looked at Charlotte, we looked at a bunch of different cities in the Carolinas we were in there like Asheville, Charleston, Greenville. We also stayed in Nashville for a little bit. We came down to Florida and stayed in Jacksonville and did a weekend trip to Tampa. We were in Austin a couple of times, there was a couple places in Colorado. And then really the back half of our trip was more for fun, not for potential living because it was Outlast again and again, you just start to get into those high cost of living areas. And then the final two, we were between Austin and the Tampa area. And Tampa just ended up winning out because I wanted to be closer to the beach. That's something we really missed about our time in San Diego after we were traveling for a while. So we decided to prioritize that for now at least. So factor is headquartered in Austin, Texas, but we're a remote first company. So I love that we're gonna have more and more team members who actually aren't here because we started this company one way before a pandemic, where I thought if you live in a startup city and you have
So much access to incredible startup talent, you should create a culture meet up for drinks, do activities, etc. And that actually doesn't fully match the vibe of be financially free. Don't make your work your family don't, you know, spend extra time in the office etc. Like live your life, do your travels, do your interests do your wealth building now, not later. So I'm glad factor was not a part of your decision making. You weren't even working here full time at the time anyways, but you were still working with us on a contract basis. So, okay, you narrowed it down to the two, you ultimately decided you're a beach gal. Although if anyone follows her on Instagram, this is someone who wears sweaters on the beach, and no shame in that game. I do it too. But it's just funny that, you know, you're cold at the beach. So then what you determined property one, how did you go about it? And yeah, give us all the details on your strategy of acquiring this first property, and numbers and plans for it. So we knew we wanted the first property to be something we could house hack. So we were either looking at doing multifamily or getting a house that had an additional bedroom bathroom situation that we can run out on Airbnb, that was the priority. We watched a lot of people go into their houses and emotional buying experience. We were much more looking for the right layout of house that can work for us now and work for renters later. I am not emotionally tied to this house, per se. I see it as a vehicle to get me to my financially free life faster. time freedom life. So we found a realtor in the area that we wanted to work with. And we were we were doing all of this off site. We were not here I did not see our house until he moved in which again is not for everybody, but it worked for us. So we narrowed it down to knowing what we were looking for. She started to do a search in the MLS. We were on Redfin looking at properties every single day, as much as we could virtually online. And then from there, our realtor, she would go to the houses that we wanted to her to look at. And she would FaceTime us and talk through the layout, talk through anything that she saw as a glaring issue that could be problematic for us or might not work for us or if the area really wasn't good. We were really relying on her and her expertise and opinions on if the areas were okay. Some of the houses we were looking at were an up and coming areas. And she said personally, she wasn't going to feel safe there. So we passed on them. We were really relying on her to help us narrow it down. We found our house, ourselves. Actually we sent it to our realtor she was able to get out here pretty fast. At that point we had already put in offers on two prior houses. The first one we didn't get because there was 10 other offers. The second one, we ended up rescinding our offer because they weren't willing to negotiate with us. And it honestly wasn't in the best location for us. We wanted to be close to the beach.
We found this house it marked all of the boxes. It was a little bit dated cosmetically, but it's all things we knew we could fix up ourselves. So they were asking 350,000 for the house, we got the house for 348,000. It ended up appraising for 358, which is great for some built in equity. And then we put 4% down on an FHA loan. And that was about $14,000. Closing costs are about $7,000. And then the thing that sucks is that our interest rate was at 7%. So we got approved for our mortgage back in November. When rates were at that high. Again, I know they've been fluctuating a lot over the last couple of months. But we were right at that 7%. But again, we're not worried about it. The numbers made sense in terms of what we can get for a long term renter here that we would still see $500 in cash flow. But the plan is to eventually refinance once hopefully, mortgage rates go back down.
Oh my goodness, listeners.
Here's what I want to say. Be someone who understands your numbers because the way Liz just spouted off every number about what she's doing in her plan.
I can tell you right now, it is the most freeing thing that someone can have access to literally understanding what works for them and how to attain it. Because you just heard her say that she bought a house sight unseen in a city and state she wasn't even living in and that it needed a bunch of cosmetic updates that it needed a transition from being a single family home and to even having the house hacking opportunity. And I'm assuming you guys are doing this all for the first time like have you renovated something before
I think my husband helped his dad a little bit growing up with like kitchen, rhinos and stuff like that. But beyond that, we are first time for everything. I think at most, I've probably helped my parents paint their houses growing up, okay, all new now? Well, it's just, it's just amazing. And it's really proof that you can do anything you set your mind to. And so you came up with this plan, your husband was enlisted, you guys really thought through the goal, which I just want to restate that because you said it so quickly. You're looking to have $500 in cash flow from this property. And every property you get, yep, that is the goal. And the way we came up with that is if there's 10 properties, and it's $500 a month, at the start of it, you're hoping those numbers will continue to go up as rents increased, the amount you owe on the home becomes less if you refinance, or do things like that, it's $500. Because that would then be $5,000, that we are cash flowing a month from these 10 properties that would hopefully then cover our full cost of living at our primary residence. That is kind of the goal there. And if we're able to eliminate our cost of living, that frees up so much money for us, in general, for what we're able to do with our lives, I love it. So if you could make $60,000 Just from your passive housing income from rental properties, and that's just to begin with, it'll probably be higher than that before you even get to the 10 year mark, because you'll own more of the house and you'll have lower costs and how owning property can be inflation hedging, because if you upkeep your property as well, then you can just charge more rent, as the world gets more expensive. And your fixed rate mortgage stays the same or unless his case she plans to refinance. So it actually drops to be lower in an expense when the rates are lower, because it will drop significantly if she can refinance for a few points last. So okay.
It was just beautiful listening to spout out all those numbers and really understanding more than anything, your risk tolerance. So your willingness to set this big goal, not waste any time get started on this big goal. I think you even got started earlier than you plan to. Yeah, so we originally thought we would be buying in 2023. We got it and just done under the wire in 2022. And that was with hiccups, like things didn't go perfectly when it came to see thing. So I took my wealth circle in 2021. My income was pretty variable, because I was working for myself at the time had a lot of different contract clients and things like that. And then in early 2022, my husband lost his job, we had just started full time traveling, we were like two months and he loses his job. We're both freaking out. And we're like, how are we going to save for this house? How is this going to happen? Fortunately, we had our emergency fund because we had gone through factors financial framework and follow the steps. So we had the emergency fund to rely on he found a new job that paid a lot more within six weeks. So we were able to meet the goal ahead of schedule, but it wasn't this perfect, like effortless thing. Nothing in life. No. And I appreciate you saying that. Because I think I think sometimes people might even listen to this podcast and think of these women are making it look so easy. But there is no easy in wealth building because it's the same as life. That's why I'm like, your life goals are going to be hard. And all your life goals have numbers associated. Right? It's like you don't want to buy 10 houses just for fun and giggles you want to buy 10 houses because of the financial freedom it's going to give you and so that's a numbers goal, but it's a life goal. And it's going to have a lot of obstacles to getting from where you are now to achieving this goal. So I'm so glad you brought up obstacles that were hit and that you guys had to spend down your emergency fund to build it back up to get to a place where you had the cash to put down on the house but did I hear you correctly that you only put 14 down costs at closing? So it was 14,000 was the 4% and then 7000 for closing so it was 21 all in and then what's the appraised value of the house 358 Okay, so it was 10,000 over what amazing and then what is the house hacking plan so the house hacking plan has
we're getting there so we are planning to our garage was converted by the prior owners to be a like Master in sweet has an external door and things like that. We've ran into a couple of permitting issues that we're working out with the county right now the our plan is to fully renovate the space because it needs to be updated. The bathroom is just old and dated.
We need to make the space work for potential rental rental so we will have it be on Airbnb. If we're able to have 50% occupancy will cover half of our mortgage. What is your mortgage Did you say
that number. Oh, sorry, no, I did not read mortgages 2700. Okay, so you're hoping to get 1350 covered by the UN, just for people who don't know the term house hacking. It's basically a way that you live in a house and also make additional income from that house. So when you buy a primary residence, while it is an asset that's appreciating for you in the background, most times we are buying it with a mortgage. So there's also a high liability there. And so if you're not cash flowing from your primary residence, because you're living inside of it, it's not really a income producing asset. But utilizing house hacking
makes it an income producing asset because you're segmenting off a portion where you can charge. So that's what she's going to do, which will lower her cost of living expenses,
and allow for cash flow. So, okay, you hit hiccups there, too. You had permanent issues, as we all do. And so when is your desired timeline to get it done and rented the engineering contractor are coming out this week to give us some federal quotes, we've had a couple of contractors come out and quote, and if you've ever used a contractor, they are very variable in costs. So we're hoping in the next, like six weeks or so to at least get the construction part of it done. And then if that's able to happen, we should be able to furnish it pretty quickly after that. So it's March now. So hopefully, by end of May, we're starting to rent. Do you have any sort of backup plan if things don't go smoothly? Yeah. So if we're able to get it all up and running, and you know, the Airbnb just falls flat Airbnb right now, if you pay any attention to that market is oversaturated in a lot of places, and you know, the Tampa and beach area is no different. So if that's the case, we've talked about having a midterm renter, like a travel nurse or something and just sharing our living space, this bedroom is on the exact opposite side of the house. So we really wouldn't have to cross paths with them too much. And if that really ends up not working out, too, we are dog sitting right now and making like $500 a month, so we could always up our game there and do that more if for whatever reason, it really doesn't work out with having someone rent. I've never thought about dog sitting as a house hack, but technically it is because you always have dog gassho or what do you call them? Does your house house? Yes. I love it. Okay, so
I guess talk to me about this is house one, and you still have some things to do because it's purchased. You got it earlier than you had planned. But now you're working on actually getting the cash flow from it. Then what how do you go from house one to house 10? What is your plan to acquire more houses? Are you even looking for property to walk me through that? Yeah, so I am not made of money, obviously, because I'm trying to buy houses to get financial freedom. So I am planning to utilize partnerships, probably for the next two properties, I have some family who's interested in potentially buying down here as like a vacation home. So we're having those conversations now is for them to be the cash investor, they would bring the money to the table for the downpayment, the closing costs, and my husband and I would be the onsite property managers. And we probably put some cash in by way of furnishing the place and doing some cosmetic updates. But that's easier to pay for it's it's kind of as it comes up.
So that is the plan there. And then probably property number two for us on our own would be in 2020 fours, the next primary residence. So the next two will be investments with partners. And then number four would be our next primary after we've lived in this one at least for and you still envision yourself in the same Florida area? Or where where do you see these houses? You're really just looking at the next three, two with partners and the third on your own but are those nearby? Yeah, so the next two, if we're going to be the ones managing it, we definitely need them to be down here and the family who's been interested has been interested in the area we live in. So those will be here. Next primary ideally will be down here but life can be unpredictable. So I'm not going to hold firm that we will still be here but who knows.
And then additionally to my husband might come into
some money because someone passed away in his family unfortunately, and if that's the case, we've talked about using that money as a vacation home for ourselves near a national park or something like that because we're big outdoorsy people so we are open to different markets. But if our if we
what we're bringing to the table is our time and our talent, it needs to be in the area we're living in. So I can hear people saying, But Liz, you want to go into business with your family. And I think it's just worth talking about for a second, because I know in fact hora, there are so many people doing partnerships. In fact, there are just women who meet each other, in fact, who are doing partnerships. So they don't even know each other that well, quite frankly, their common bond is that they want to build wealth faster and access financial freedom earlier. And so one of the ways we talk about having smart partnerships is one with contracts, I don't care if you're a friend, family, stranger, there needs to be legal, binding, clarity. But
also, you need to think through the time talent and money, triangle or three legs of the stool, and who has what, so you said it very quickly. But when you were talking about the partnerships with your family, they're interested in the location and they trust you. So they're looking at you for having the time to find and research the place to fix it up the talent to know what cosmetic things are going to up the cashflow opportunity and managing it. And you're looking to them for the money because they live wherever they live, but they're happy to have more exposure to real estate. So then who goes on the mortgage. So in these scenarios, they would be the ones going on the mortgage, I am not tying ourselves up into that. And then also, interestingly enough, too, with our own primary residence, we actually put my husband's name on the mortgage in something in the state of Florida, you're able to do so we'll see what happens when we go to buy the next primary. But what we're hoping to do is that I will be the one buying that house, because then it won't look like I have this huge amount of debt from our first house. Yeah, so well. And then the other thing with that, and Jake and I did a similar method, we bought our first house together, because we didn't know any better. And then we bought the second house, I was starting fact Torah. And so they look at W two workers very differently than entrepreneurs, entrepreneurs, they want to see two years of tax returns, they want a lot more proof than just here is the salary that I could not have tomorrow seeing as their companies laying off 15,000 or 12% of their workforce at a time. But anyways,
you know, another topic for another day, the mortgage industry says WTS are safe entrepreneurs are not. So I was going to be more harmful than helpful on that second purchase. So he bought that one with just his name. And then fast forward another 18 months, in fact, where I did have two years of tax returns and was doing well. And then I bought the house we're currently in without him on the mortgage. So we have one co owned, we have one each. And then we have one that's in an LLC that that was purchased through a partnership directly. So there are plenty of ways to
like figure this out. But that's really the point here is getting creative so that you can still access these assets before you yourself might have the capital to do it yourself. Because obviously $21,000 is not chump change to a lot of people. And yet, it's a lot less than most people think you need to even acquire a house in the first place. Which kind of leads me to a conversation we've been having inside the factory, a Slack channel, where we basically just surveyed factor or women, which a little different class of women, because they really like creative real estate. How many of them have bought primary residence with a 20% down which a lot of people think is you're required to buy our primary residence, but it is not that is required to buy an investment property, which is treated very differently than the home you live in. So you said you put it was 4% down? Yeah, we did. 4%. Okay, and a lot of people do five, some people can even get away with zero if they're in certain areas, or if they utilize like if they're a doctor, or if they're in the military. There's just different programs for different people. So definitely look into it, because I do think that there are too many people who think they have to have the 20% sitting in cash before they can ever access real estate. And that's just not true.
All right, so I have no doubt you will have the 10 houses by the time you're 40 You seem like you're well on your way and your plan is so clear and well laid out. Talk to me about some of the biggest lessons you've learned from buying house one
that you're going to apply to these future purchases, the biggest thing I would say is negotiate. So this is definitely dependent on what type of market you're in and things like that we were just coming off of all the crazy big words and things like that. So the market this past fall, and 2022, was doing weird things. And we had a realtor who was a little bit newer. So I just think she didn't know, I think we could have negotiated more and gotten some things thrown in, whether it's some money back or them paying for some cosmetic updates. While the house is fine and livable, we've had to do a little bit more work than we were anticipating just because you can't see everything just through videos and photos. But it is what it is. Also, too, I would say, the other big thing that I'm really grateful we had was we had about extra $5,000 leftover that we could have used for the down payment to buy a more expensive house or mortgage we were approved for was higher, but we didn't want to do that. We utilize that money to buy furniture as well as some other expenses and things that we had to fix up, have that full emergency fund ready to go, our hot water heater broke three weeks into living here. So that was another expensive fix that we had to do right away. But we will be set for a while hopefully knock on wood.
And you know, despite all of this, like I would still buy a sight unseen, I would still buy the same house, like we're really happy with the area we ended up and we see the value in the property and the potential in the area that we picked. So I think you just got to run the numbers and make sure the numbers make sense at the end of the day. And then you know, don't be afraid to ask your realtor or lender questions, ask them questions about everything. If it's your first time buying and you don't know, even if you've bought before and you weren't as involved as in the process as you could have been.
It's around you to do your due diligence at the end of the day. Yeah, they're doing your, their job and advocating for you. It's your property, it's your money. So you need to make sure you're protecting yourself and asking all of the questions you possibly could like if there's a different better loan out there for you. Or if mortgage rates are really fluctuating like they are now if you get pre approved, are you locked in at that mortgage rate? Or if it goes down? Are you able to get the lower rate like things like that there's just a lot we didn't know going into it and you know, also too late? Well, it makes me a little upset that we probably lost out on some money just from the negotiation aspect. It's a lesson learned. And we're going to take those lessons into the next nine properties to be able to make better decisions. I think that your mindset on it is so quality because more people stay in the fear of not doing it right. That actually keeps them from doing it all. And you're saying basically, yeah, we left some money on the table. But we won't be leaving that same money on the table next time. But probably next time, you'll realize you left some additional money on the table. Because with the actual act of doing it is where you garner the experience to even know what questions to ask. So I I totally agree. Ask questions. be annoying. Don't just assume that your real estate agent knows so much more than you like yes, they know how to take you from
a house that you like to purchase. But it's not their money. It's not their life, they're not going to advocate for you, as well as you can advocate for yourself. Just know what you should just never give that autonomy fully to someone else as much as we'd like to. Gotta just ask and be obnoxious because you are your best customer. Right? You have to fend for you. So I think that that was really fruitful advice. Is there any final advice you might give someone who's looking to get into real estate now? And and I guess just before I let you answer that, I heard you say that the market was so crazy when you were buying for people who haven't been trying to buy in the last few years. You have no idea how fast this has sprung back. I mean, we were buying we bought the house that I'm sitting in right now for a 3% mortgage in February of 2020.
When I had a baby last year, yeah 2020
Okay, it's only a year later and the it's gone from you could have the low mortgage rate there weren't too many bids to you couldn't get a house everything was crazy overpriced and mortgage rates were flying and now we're somewhere in between and that's just a very oversimplified
explanation that's not even area specific, right because she's in Florida and I'm in Austin, but
With that in mind, things seem to be calming down a little bit. Any advice for someone looking to buy soon? I think on that note, a big thing that sticks with me is that there's never going to be a perfect time to buy, right? Like there was the scenario of the low rates, but the crazy bidding wars and now there's higher rates, and maybe you're getting some seller concessions, there's only the right time to buy for you. For me that 7% interest rate, that was the perfect time for us to buy, we were ready to buy, we could more than afford the mortgage, it's maybe 20% of our take home pay. So it's just, you know, you have to make the best decision you can at the time with the information you have. rates could fall back down drastically. But I have my house now. So I can refinance later, that rates could also go back go up even higher, drastically, we don't know what's going to happen in the future. So if you're ready to buy, get in the market, don't just sit on the sidelines. The second thing I would say is everything can be figured out every single thing with homeownership anything in life, there is always a learning curve. I learned best by doing. Don't let other people who have been homeowners scary with their stories, it's not going to be the same story for you, your story is going to be different and unique in the property you buy and how you choose to approach real estate. Maybe buying investment properties isn't for you. But you want to buy a primary and house Hacket Great, perfect, you don't have to buy 10 houses because I my 10 houses, that's not the story here it's figure out how real estate is going to fit into your portfolio, even if it isn't a very big part of it. And just know that you're capable of figuring it all out, whether that's hiring someone to help you with the work on your house, or watching YouTube videos and doing it yourself. Things are not as hard as they appear to be. I love that. And I think the one thing I would add is, it gets a lot easier to figure out what you want, when you take the time
to figure it out. And the best way to do that is by understanding your numbers, because I also just heard you say, and y'all she's so fast with her numbers, but that 20% of their income goes to their housing costs. Typical American average is more like 40%, especially when you're in these more urban areas. That's a lot of money tied up in your housing costs. So she knew that they could be a lot more flexible. And still yet I heard you say earlier in the podcast, you got approved for a bigger loan than you chose to use. I think a lot of people really get swept up in I want a house, I'm gonna live there, it needs to be beautiful. There's a lot of emotion. You're so unemotional about this because this is one of 10 houses and you're not even likely going to live in all of them, you're just getting the skills, acquiring the knowledge that you can apply to the next one, so that at the end, you have 60,000 but likely way more that's coming to you on an annual basis just from your real estate portfolio, and that is your passive income streams that you actively picked up over a number of years. And then you can just enjoy the fruits of that labor. for years to come. Right houses are going to be in the same spot you bought them in for a long ass time. And yes, they're gonna need work and yes, you hear a lot of people say real estate's not for me inside a factory. Like there is a conversation going on right now about how so with having a lot of anxiety with her rental properties, and that's okay. It's trying it, figuring out what works for you what doesn't, and doing more of what works. So thank you, Liz for coming in and telling us about your big 10 houses and 10 year goals. Reach out to us on the Factoria Instagram if you want to know more. Follow Liz she does cool little house projects all the time. If you're watching this on YouTube, she refurbished the chair behind her she built the shelves behind her. She's very crafty. All of my items behind me are purchased.
That's all we got for you today. Thanks for listening. Thanks, Liz. If you enjoyed this episode, come join us in a wealth circle. It's our live online 12 week course and community where we teach you how to create a personalized financial plan alongside hundreds of other women building wealth. It will change your life and your money for good. You can apply at factorial wealth.com forward slash wealth circle. That's factorial wealth.com forward slash wall circle. See you in the next episode.
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