In today’s episode, we walk you through the life of a small business influencer, Spencer Mecham!

Spencer embarked on a transformative journey from being a duplex owner to evolving into a hands-off real estate investor in Indianapolis. This shift involved navigating the complexities of buying property in another state, specifically Indianapolis, where he had never been nor resided.

During this transition, Spencer grappled with mental apprehensions about remote property ownership. He shared his initial hesitations, driven in part by stories of property management nightmares he had heard. He and his wife were deeply attached to their property and felt that nobody else could care for it as they did. The added challenge of being physically distant from the property compounded his concerns.

Despite these apprehensions, Spencer decided to venture into real estate investment, beginning with Indianapolis. He credited his coach, Adam, for providing guidance and support that helped him overcome his initial reservations. As a result, Spencer expanded his real estate portfolio, acquiring a total of five properties, including one in Oklahoma.

The motivation for growing his real estate holdings stemmed from the need for tax breaks, as well as the opportunity to leverage accelerated depreciation. Additionally, he mentioned using the equity in his properties to strategically refinance, which facilitated further acquisitions. Spencer’s journey from one property to five was fueled by a combination of financial strategies and coaching support, all while being inspired by the principles he learned from “Rich Dad, Poor Dad.”

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