32: Debt Free with 2 Rentals and Counting with 24-Year-Old ICU Nurse Prescott Williams | Bigger Pockets Podcast
Frontline healthcare worker... Air Force Reservist... real estate investor!
24-year-old Prescott Williams is a renaissance man committed to building real wealth through real estate while serving his community and his country. Today he walks us through his first 2 deals, and the 3 deals he's currently working on in the Hattiesburg, Mississippi area.
Prescott shares some great shortcuts for investors who work full-time – from creating a "rental requirement list" with your personalized criteria to publicly posting your real estate goals (you never know who will send you a lead!).
A lot of our guests choose their real estate agent as their MVP, but for Prescott it's his mortgage lender. You'll learn how he finances his rehabs and new construction deals by partnering with a small local bank – a strategy you can model (if you're willing to put in a little legwork!)
Give Prescott a follow on Instagram @prescott_williams -- and follow us by joining our Real Estate Rookie Facebook Group: just search "Real Estate Rookie" and answer the screening questions to join 15,000 other like-minded investors.
In This Episode We Cover:
Prescott's strategy for graduating college debt-free
Finding a flexible local "portfolio" lender
Persuading his parents to take out a HELOC to help him get started in real estate investing
Sleeping on an air mattress while renovating a house
His "rental requirement list" criteria
How he uses the "1% rule" (rent = 1% of purchase price) to guide his purchasing decisions
The stress-free way to handle maintenance calls
How he's gotten deals just be posting his goals on social media
And SO much more!
Links from the Show
Real Estate Rookie Facebook Group
Felipe's Instagram
Ashley's Instagram
BiggerPockets Forums
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BiggerPockets Podcast 329: Financial Freedom Before 30 Through Just 10 Deals With Felipe Mejia
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Check the full show notes here: link
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