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Instead of selling the single-family home in Louisville where they were living, they chose to rent it out instead bringing the variety of homes in their portfolio up to six. Rachel Richards and her husband Andrew Fazzone. Thanks To Rachel Richards Now that portfolio brings in around $8,000 to $10,000 in revenues a month.

And while their revenue is relatively stable, the couple did battle to fill some of their empty systems in the early months of the COVID-19 crisis."The pandemic was difficult, especially in April 2020, and for some time we stopped briefly on even trying to fill jobs since we didn't want to put anybody at risk," she stated.

Richards and her hubby built their real-estate portfolio over simply two years and there are a few factors they had the ability to pull it off so quickly. They didn't have student loan debt, which helped a lot, Richards stated. When they initially began investing, neither Richards nor Fazzone were taking home large incomes.

And while Richards wasn't making as much as a financial expert at GE Appliances, they had the ability to save much of their combined earnings. Richard told Expert that they led a fairly penny-wise way of life in order to save as much as possible. "We were trying to conserve about 50% of our income consistently.

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"I'm sort of into travel hacking, so I always discovered good deals on flights and accommodations whenever we did travel."They used their savings plus the lease profits created from earlier purchases to make down payments on future properties. In addition, Richards got a realty license so that she could represent herself and Fazzone as the purchaser's representative in their deals.

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Even if the couple totally depleted their savings to purchase, Richards stated, she 'd get a commission look for countless dollars at the closing which they 'd put toward the next down payment. "Our cost savings rate, our lack of debt, the cash circulation we were saving money on top of that, and the commissions I was getting were how we came up with those big down payments over and over once again rapidly," she said.