204: Master Passive Income with Dustin Heiner
Dustin Heiner, founder of MasterPassiveIncome.com, started investing in rental properties was in 2007 where he and his wife took all of their life savings and bought their first rental property for cash. It was very scary because the property was in Ohio and he lived in California. Even though he was scared, he jumped in and spent $17,000 and bought a rental property that rented for $550. He still owns the property today and is a great rental. Six months after that first property, he refinanced it and pulled out 80% of the value to purchase another rental property. Four months after buying that property, he refinanced it and pulled out 80% to buy two more properties. Now, after a little over a year, he had four properties that rented for $500-$550 a month.