Episode #123 – This is an interview with Lisa Phillips, who left the corporate world thanks to several affordable (lower-priced) rental properties that paid for her basic expenses. She now passionately spreads the word about affordable rentals not only as a means to build wealth but also as a way to positively impact tenants and communities.
We also touch on topics like the mischaracterization of low-income neighborhoods, the power of small, simple rental portfolios, and the unique challenges faced by African-American investors.
Connect With Lisa:
- Get Lisa’s book for free: http://affordablerealestateinvestments.com/bestselling-book-investing-in-rental-properties-for-beginners-end-promotion/
- Lisa on YouTube: https://www.youtube.com/user/AffordableREI
- Lisa on the web: http://affordablerealestateinvestments.com/
Hi Coach
Thanks for interviewing this woman. She definitely shares a perspective in which I thought was overlooked. You both share the concern for others and not just the objective to squeeze every dollar from someone. Continue to spread love and encourage others to search inward. Thank you for your content.
Thank you Kenya for listening and for your comments. I agree that this perspective is too often overlooked, and I hope we can keep spreading that message to more investors.
Agreed! You nailed it Kenya!
This was a fantastic podcast Chad! Thank you for having a conversation to provide insight into what we, Black people, experience in our real estate ventures. So nice to finally hear that I’m not alone in the frustrations of listening to people of generational wealth give tips that are totally unreasonable, where I come from.
I am a Black woman, retired from IT, with a few rental properties. Just like Lisa, I felt the underlying bias/racism in corporate America. When they found out I had a rental property, they would jokingly refer to me as a Slum-lord. My White male colleague with property was called Smart. I was stunned when he announced he got a $20,000 wedding present from his grandmother. My grandmother, who loved me dearly, worked hard to come up with maybe $20 worth of essentials for me to take back to my dorm room.
During the summer, everyone talked about their trips to the beach. The big difference was…while I paid $100’s for a nice hotel, they stayed for free at family vacation homes. And I tried hard not to feel envy because, most of these people were not racist toward me. They meant no harm and were not intentionally flaunting their privilege. My financial status in life was not their fault.
And I think that is the key – DO NOT blame others. DO ignore podcasts talking about using other people’s money to buy properties. DO find and follow podcasts where the advice being offered is from people like you. Or in this case, people like Coach Carson who reaches out to share the perspectives of people like you.
Great job Coach!
Wow, thank you for sharing your own story and perspective, Rhonda. I am really humbled to learn of the challenges that you, Lisa, and others have faced and do face with your own careers and investing ventures. Yet, at the same time I admire the grit, determination, and vision required to make progress DESPITE those challenges.
Lisa also made the great point that you need to choose your messenger for education carefully. I’m fully aware that I can’t truly appreciate paths that I haven’t experienced myself. So I’m very grateful to Lisa and to you for allowing me to share your stories.
This a very informative podcast. I had the same views about investing in lower income neighborhoods. My commitment is not to be a slumlord. I do want to provide quality affordable housing for all while still profiting. New to real estate investing. Appreciate the insight.
I’m glad you found the podcast helpful, Rosemary. Thank you for listening. I’m hoping that as more investors make a similar commitment to not be slumlords, we can really make a positive difference in the communities where we invest.
Wow I really needed and appreciated this episode I appreciate you guys thank you!
Thank you for the feedback, Anthony. I’m happy to hear you liked the episode.