Hey everyone, Michael here! In today’s episode, I’m diving into the story of how I used real estate to buy my very first new car—and trust me, it’s a fun one. I take you behind the scenes of one of my early duplex deals in Columbus, Ohio, and break down how the cash flow from that property eventually paved the way not only for a Shelby GT350R but also for my first Lamborghini. I share all the highs, the challenges, and the valuable lessons I learned along the way.
We’ll explore everything from managing repairs and rent increases to unlocking the hidden power of real estate appreciation. If you’ve ever wondered how to turn your W-2 income into a portfolio that fuels your dreams—whether that’s cars, vacations, or financial freedom—this is an episode you won’t want to miss!
Timeline Summary
[0:00] - How I bought a duplex off the MLS without discounts
[2:00] - Why I aimed for the 1% rule from day one
[4:52] - The importance of budgeting for repairs and unexpected costs
[9:25] - How cash flow from multiple properties funded my first new car
[14:10] - Selling the duplex for a big payday and rolling profits into more properties
[17:17] - My philosophy on using real estate to power your lifestyle
[19:45] - How you can get started and join me on this real estate journey
3 Key Takeaways
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Start small and scale smart — You don’t need huge discounts to win in real estate; steady cash flow and long-term appreciation can build serious wealth.
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Budget for repairs and be ready — Always have a financial cushion for repairs or tenant turnover, or you risk becoming a distressed seller.
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Let real estate fuel your dreams — Whether it’s cars, vacations, or freedom from your 9-5, smart real estate investing can turn your passions into reality.
Links & Resources
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Follow me on social media: @realestatemike02
Closing Remark
Thanks so much for tuning in! If you enjoyed this episode, please rate, follow, and share the podcast with anyone you think would benefit. And don’t forget to leave a review—it really helps us reach more people. Until next time, let’s keep turning properties into profits!
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