Great to have you back for the second installment of the Resilient REI newsletter! So good to be back in your inbox…
Today we have a very special investor to share with you – Lauren K. Aumond of Adulting Is Easy!
Meet Lauren K. Aumond of Adulting Is Easy
How many doors do you have?
“12 (includes camper STR)”
What got you into real estate investing?
“I wanted to move out of my parents’ house after college, and I bought instead of renting. I was approved for a home purchase where the payment was the same as rent would have been. I got a roommate and cut my costs way down. When I wanted a bigger, nicer home, my parents convinced me to keep my first and rent it out. I was hooked.”
What market(s) do you operate in?
“West coast of Florida”
How would you describe your portfolio?
“2-unit, 4-unit, 6-unit: almost all STRs”
What are you currently buying?
“We just bought the 6-unit. We’re supposedly taking a break after this one for a while, but we’ll see.”
Tell us about your biggest mistake in real estate?
“I should not have stopped house hacking. I bought my “dream home” at 27 and rented out my first house. I should have bought a small multi then, rather than a few years later.”
What’s your biggest win in real estate?
“We bought a bed and breakfast to live in with 2 ADUs + camper hookups (which we STR), so we have favorable zoning, a beautiful property, and our housing expenses are covered.”
What advice would you give to a new investor?
“My advice to young people looking to buy their first property is to stay frugal, like they were in college, for as long as possible. Live with your parents for a couple of years or at least have roommates. Keep your car payment (if you MUST have one) low and reasonable. Don’t work to pay off your student loans before you buy a house. Also, work on getting a higher salary. Search for jobs that pay more. Read books to learn more. If you follow these steps, you should be able to save at least 3.5% to put down.”
Checkout Lauren on Twitter
Know your dog – some like to be in the water while others prefer to be comfortably dry above the water. (Tried to relate it to knowing your market… couldn’t make it work)
See you next Friday!