From $17K/Year Teacher to Financial Freedom with Repeatable Rentals

Episode #1003

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How does a teacher with a LOW salary achieve financial freedom, let alone invest in real estate? Surprisingly, it’s not as hard as you think, and if you repeat the strategy from today’s show, you could reach financial freedom much sooner than you’d planned. In this episode, we’re talking to Corby Goade, who, not too long ago, was a teacher making just $17,000 per year at the start of his career. So, how did he begin building wealth and replace his AND his wife’s income?

After fixing up an outdated house he bought after college, Corby was shocked by how much equity he had made. With some basic painting, new flooring, and simple upgrades, Corby made twice as much in equity as he did teaching. From there, a rinse-and-repeat-type strategy formed as Corby slowly began buying rental properties whenever he could, even with his tiny teacher’s salary.

Fast forward to today, and Corby and his wife are financially free, running multiple businesses and living life on their terms. They still own that first rental, even though Corby did “everything wrong” (his words), and his first tenant almost destroyed the property. Still an active investor, Corby says that deals just like his first one are on the market NOW, even in 2024. He shares his exact buy box you can use TODAY to find properties like this, walk into equity, and achieve financial freedom just like he did.

00:00 Intro
01:47 Accidentally Making Double His Salary
06:58 Doing Everything Wrong
11:07 Surviving the 2008 Crash
16:37 Quitting His Job
19:51 What a "Deal" Looks Like
29:26 How Much These Deals Make
31:12 Get Deals Sent to You!
32:22 Best Tip for Newbies

[stephandavis]

David’s the 🐐 gonna miss his energy and humor

[nickc]

Before watching: can someone tell me if this is another story from someone who bought their properties when prices and rates were way lower than they are now?

[aaronmurphy]

This is a really cool episode ! Glad to see some more of these kind of interviews . Longterm rental
Landlords that didn’t raise capital.

This one was solid . I’d also be good with this style of interview with people who have more units 50, 80, 100 etc . But this Interview was solid as well .

I’m not a fan of his idea at the end of buying properties that are cash flow neutral out there gate but different strategies work for different people I suppose .

[jebfuller]

You Never Heard of Carlton He taught everything on here 45 Years ago.

[TheCardboardWarlord]

I bought a 2bd 1ba that worked number-wise until I realized the windows and hvac needed to be replaced. I'm now 90k out pocket b/w acquisition costs and renovations 😢

[Jack_of__Trade]

Way to start a podcast. Introduce yourself then get to that whatever you wanna blab about.
Not a fan of the changes, but hey I don’t make money from BP.

[tomphu]

Be careful Dave you're going to be

[dawnmatze]

Chad Carson is my altime fav guy in REI and Dave, I am impressed with your sincerity and care for your audience. And of course your smile!!

[andreasseidel]

Hey bud, the camera is up Look up. Be more professional!