Creating the FIRE Lifestyle Through Multifamily Investing with Megan Greathouse
The dream of many young entrepreneurs is to create Financial Independence and Retire Early, better known as FIRE. In fact, there is a movement and community dedicated to strategies and tactics to create enough passive income to step away from a corporate job. This FIRE movement has gained a lot of steam in recent years and has a huge following on podcasts, Facebook groups, Twitter, and blogs. One of the more popular FIRE strategies is investing in real estate, especially multifamily investing.
After serving her country as a Marine Corps Captain, Megan Greathouse transitioned into corporate America. As she settled down and began having children the importance of financial independence and time flexibility became clear. She made it a priority to begin building a real estate portfolio of small multifamily properties and is now scaling into mid-size apartments.
Megan is based in St. Louis and shares insights on the midwest market. In addition, she is the co-host of the Multifamily Mavericks podcast available on Apple Podcasts and Spotify. In this episode, she shares her vision for attaining financial independence, why her plan is to keep working, scaling a business while creating the best life for her family, and the neighborhoods in St. Louis seeing major investments and improvements.
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Key Insights for a FIRE Lifestyle through Multifamily Investing:
Transitioning from Marine Corps Captain to obtaining an MBA through the GI Bill and working in corporate America while dabbling in real estate investing.
Creating a lifestyle that included spending more time with her children while investing in real estate
FIRE: Financial Independence Retire Early Entrepreneur
Building and scaling a multifamily portfolio
I want to be able to, in one transaction, double or triple my portfolio and continue to build without chasing deals every month.
How to scale your business while creating the best lifestyle for your family.
Being willing to partner and delegate is important to move your business forward
I have a clear picture of the type of people that I need to be able to fill in my gaps, which is why I’m open to partnerships
The St. Louis real estate market today
How to find good deals in St. Louis
Really get to know the micro markets [neighborhoods], because that really helps in finding the best deals.
The rising neighborhoods of St. Louis, Missouri
Building generational wealth
Different passive income streams Megan is looking at for the future
Creating the Multifamily Mavericks Podcast through networking on BiggerPockets
Due to two injuries, I had to attend officer candidate camp three summers in a row while in the Marines. The fact that I kept going and made it, showed me that I could do anything as long as I kept going for it.
Tenant Cloud (Rental accounting and management)
Most Recommended Book:
The Alchemist (Paulo Coelho)
Working out is a sanity check
Wish I Knew When I Was Starting Out:
I wish I understood more fully how the power of real estate can help build wealth
Opening, owning, and operating a business and fit it into our lifestyle
Best Place to Grab a Bite in St. Louis, MO:
Social Handle: @parttimeempire
Multifamily Mavericks Instagram: @MultifamilyMavericks