When Dixie Decker was 18 she bought her first house and rented two of its rooms to her friends, meaning she didn’t have to pay a dime for housing during college. Later, she got married, had two beautiful kids, became a mortgage broker and a realtor, and then the 2008 market crashed in both industries, bringing her 10-year marriage down with it. She had to file for bankruptcy because her husband had secretly opened $100,000 worth of credit cards. Working three jobs just to stay afloat, she missed her two girls at home who she had to care for alone. She needed freedom and hated not chasing her dreams!
After two years in corporate America, she ran into her middle school best friend and he brought her in on a new student housing business. When her mentor gave her a unique buying method where she could use other people’s money and credit, they very quickly had six rehab projects going on which they rented as off-campus student housing apartments.
In addition to creating a niche market, Dixie and her business partner revolutionized the profit-making potential of rental properties. Using per-room rental rates, they were able to collect multiple checks from one house, while the neighboring landlords collect one. An incredible benefit this provides is they can pay close to market value when buying and then have cash flow that is double and sometimes triple the average investor’s single-family rental cash flow. By using lease options she learned her business could do many more rehab projects simultaneously and start earning more money faster.
In just three years Dixie has raised over $5 million in private money. Because of the systems she has in place, her business runs on auto-pilot and, most importantly, she collects over 152 checks each month in the mailbox and has over 40 golden geese with none of her own money in any deal.
What you’ll learn about in this episode:
- How the student housing apartments niche that can be incredibly profitable
- Starting out in real estate even when you have very little funds
- Doing student housing the right way to protect your investment
- Strategies that you can use to invest with incredible profits
- Making the offer to potential private investors in a way that makes them feel safe
- How to structure a student rental business in a way that makes sense
- What college student renters are looking for in the modern market
- Using parental involvement to protect your investments in student rentals
- Protecting yourself and your investors while operating a rental business
- Why per-room rental rates are better for you and your renters