How Elissa Miller Bought 1000+ Properties Without Any Money?
Summary
TLDRIn this engaging episode of the Freedom Show, hosts Flip and Danny interview Alysa Miller, a seasoned real estate investor, mother of six, and foster care advocate. Alysa shares her inspiring journey into real estate, which began after a chance meeting at a real estate meeting where she learned about earning potential. Over the years, she has built a significant portfolio, focusing on rentals and creative financing strategies, all while maintaining a strong family life. The conversation delves into the importance of financial freedom and the even greater significance of time freedom, emphasizing the need for intentional living and aligning one's actions with personal values and goals. Alysa candidly discusses the challenges she faced, including a failed marriage and strained family relationships due to business decisions, and how these experiences shaped her perspective on success and happiness. The episode also touches on the practical aspects of real estate investing, comparing it favorably to stocks in terms of control and potential for leveraging, and provides insights into the power of making conscious choices to achieve one's desired lifestyle.
Takeaways
- 🏡 Alysa Miller started investing in real estate at the age of 23 and has since bought and sold over 1,000 homes and apartments, focusing on rentals and fix-and-sell properties.
- 💡 She emphasizes that real estate was a means to an end for her, a way to earn money while pursuing her passion for coaching and mentoring kids.
- 🤔 Alysa initially pursued a career in psychology, but shifted to teaching and coaching, which led her to real estate as a stable income source.
- 👨👩👧👦 Alysa is a wife and mother of six, with three of her children adopted from foster care, and she has been involved in foster care for many years.
- 🌱 Her interests include gardening, baking, traveling, and discussing real estate, and she enjoys sharing her experiences on social media.
- 💰 Alysa's real estate journey began with attending a meeting where she learned about making money with no credit, which aligned with her financial situation at the time.
- 📈 She built a portfolio of nearly 400 units, initially using her own money, but later focusing on creative financing strategies to acquire properties.
- 🔄 In 2017, Alysa sold her entire portfolio and transitioned into apartment buildings, using a 1031 exchange for tax benefits.
- ⏳ She stresses the importance of time freedom over financial freedom, noting that financial freedom alone does not solve all life's problems.
- 👪 Alysa shares her personal struggles, including the end of her first marriage and the strain of working with family members in her business.
- 🌟 She encourages others to be intentional about their life choices, focusing on what brings them joy and fulfillment, rather than societal expectations of success.
Q & A
What was Alysa Miller's initial attraction to real estate?
-Alysa Miller was initially attracted to real estate after attending a meeting with her father where a speaker discussed making $5,000 with no money and no credit in two weeks, which appealed to her as she had no money or credit at the time.
How has Alysa Miller's perspective on freedom evolved over time?
-Alysa Miller initially pursued real estate for financial freedom, but after achieving it, she realized that time freedom is more important to her. She now values the ability to choose how she spends her time over the mere accumulation of wealth.
What is Alysa Miller's educational background?
-Alysa Miller has a BA from Purdue University in Psychology, Sociology, and English.
How many homes and apartments has Alysa Miller been involved in purchasing and selling?
-Over the course of her career, Alysa Miller has been involved in the purchase and sale of over 1,000 homes and apartments.
What strategies does Alysa Miller use to acquire real estate?
-Alysa Miller focuses on creative financing strategies that allow her to acquire real estate without using her own money, except in cases where it is necessary, such as during a 1031 exchange.
What is Alysa Miller's current focus in real estate?
-Alysa Miller currently focuses on rentals, ranging from single-family homes to large multi-family complexes, and also on fixing and selling single-family houses.
How has Alysa Miller's approach to life and success changed over time?
-Alysa Miller has shifted her focus from financial success to finding happiness and fulfillment in her day-to-day life. She emphasizes the importance of intentionality and making choices that align with personal values and desires rather than societal expectations.
What is the biggest lesson Alysa Miller learned from her first marriage?
-The biggest lesson Alysa Miller learned from her first marriage was the importance of aligning life goals and visions with her partner, and the realization that staying in an unsatisfying situation out of obligation is not beneficial in the long run.
Why did Alysa Miller decide to sell her entire real estate portfolio in 2017?
-Alysa Miller decided to sell her entire real estate portfolio in 2017 after a realtor suggested the idea, prompting her to consider what life would be like without the properties she had been holding onto.
What is the one thing Alysa Miller would advise people who are afraid of starting or are in the middle of a challenging situation?
-Alysa Miller advises people to take one small step forward even when facing challenges, emphasizing that it's okay to quit if something is not bringing joy or aligning with one's goals, but not to quit simply because something is hard.
How does Alysa Miller's approach to real estate investing differ from investing in stocks?
-Alysa Miller believes that real estate investing offers more control and tangible value compared to stocks. She points out that with real estate, investors can add value through improvements and have more direct communication with parties involved, such as private money lenders.
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