Episode 156: Create Passive Income From States Away with Rita Medeiros
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This week Danny is joined by Rita Medeiros, an investor out of Florida who focuses on out-of-state, single-family properties and has acquired over 21 residences in 11 months and 21 rehabs. In this episode Rita breaks down how she manages the properties from states away and how she’s used this model to create a long term flow of passive income, something she claims to be very serious about (as we probably all should be!). She walks us through her cash flow criteria and how she handled taking care of estimating repairs from states away.
Rita and Danny also discuss both the positives and the negatives of managing affordable housing within Section 8 areas. Rita breaks the stereotypes that a lot of us might have about certain types of tenants and explains the reward that comes with helping provide a single mother who might be struggling just to find a home for her and her family. Other topics covered in the episode include how she’s limiting her competition, funding the deals, and what she considers to be the biggest factor in her success as a real estate investor.
Links from the Episode
Contact Rita Medeiros on BiggerPockets.
Flipping Houses Exposed, by Danny Johnson
How to Stop Worrying, by Dale Carnegie
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