Intro

Real estate is often seen as one of the best ways to build wealth—but for most people, it feels out of reach.

High prices, large down payments, and complicated strategies can make it seem like you need a lot of money just to get started.

But what if that wasn’t true?

In this episode of The Side Hustler’s Society, Elijah Bilel sits down with real estate investor Pam Hill to break down how she’s been able to acquire properties for the price of a car—and build a portfolio from there.

Intro to Pam Hill (My Smart Cousin)

• Founder & CEO of My Smart Cousin
• Real estate investor with 25+ properties and 30+ units  
• Specializes in acquiring low-cost properties and scaling over time
• Started investing during the Great Recession as a side hustle
• Former corporate executive at a major electric utility company
• Real estate investment coach helping others buy their first (or 100th) property

👉 Website: https://mysmartcousin.com/ 

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Episode Overview

This episode challenges one of the biggest myths in real estate:

👉 You don’t need six figures to get started

Pam Hill explains that there are multiple entry points into real estate—from passive investing to fully hands-on ownership.

Some examples discussed include:

• Real estate mutual funds and REITs (passive investing)
• House hacking (renting out part of your home)
• Buying multi-family properties
• Fix-and-flip strategies
• Long-term rental investing

But her core strategy stands out:

👉 Buy properties for the price of a car

That means finding deals anywhere from:

• $2,500
• $10,000
• $30,000+

Then improving them and either:

• Renting them out
• Or selling for profit

Listen to the Episode

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Side Hustler’s Society Resources

Side Hustle to Full-Time Strategy Session

Quick Takeaways

• Elijah explains there are multiple ways to enter real estate at any budget level
• Pam Hill built her portfolio by buying properties for the price of a car
• You don’t need to invest in your local market to get started
• Elijah Bilel emphasizes thinking like an investor—even when buying your first home
• Low-cost properties can still generate strong cash flow
• Patience and deal selection are critical
• Real estate can start as a side hustle and grow into a full business
• You can use strategies like 1031 exchanges to defer taxes
• Many beginners limit themselves by only looking in their city
• The key is buying right—not just buying fast

How Pam Hill Invests in Real Estate

1. Buy for the Price of a Car

Pam’s core philosophy is simple:

👉 Don’t overpay—start low

Instead of buying at the top of your budget, she recommends:

• Looking at the lowest-priced properties first
• Finding undervalued deals
• Adding value through improvements

This creates:

• Lower risk
• Higher upside
• Better cash flow potential

2. Think Like an Investor (Not a Consumer)

One of the biggest mindset shifts in this episode:

👉 Most people buy homes emotionally—investors buy strategically

Pam explains that instead of asking:

• “What’s the nicest house I can afford?”

You should ask:

• “What’s the best deal I can find?”

This applies even if you’re buying a home to live in.

3. Start Where You Can—Not Where You Live

A major gem from this episode:

👉 You don’t have to invest in your city

Pam highlights that:

• Some markets are too expensive
• Others still have great deals

Examples mentioned include:

• Parts of the Midwest
• Upstate New York
• Smaller cities in the South

The key is being:
👉 Flexible and strategic

4. Use Real Estate as a Side Hustle First

Pam didn’t start full-time.

She:

• Worked a corporate job
• Invested on the side
• Built her portfolio gradually

This is exactly what Elijah Bilel teaches:

👉 Use side hustles to build assets

5. Understand Tax Strategy (At a High Level)

The episode also touches on an advanced concept:

👉 1031 exchanges

This allows investors to:

• Sell a property
• Reinvest into another
• Defer capital gains taxes

While this requires deeper research (and often professional help), it shows how:

👉 Real estate rewards long-term strategy

How This Connects to Airbnb

If this episode sparked your interest in real estate, the next step could be:

👉 Short-term rentals

Elijah has already broken this down in another episode with Myka Artis, where they cover how to:

• Get started with Airbnb
• Find properties
• Generate cash flow

Click here to check that episode out!

This is a natural progression:

• Start with real estate basics
• Then move into higher cash-flow strategies like Airbnb

Key Lessons from the Episode

1. You Don’t Need a Lot of Money—You Need Strategy

The biggest takeaway:

👉 Deals matter more than dollars

2. Patience Beats Speed

Many beginners:

• Rush into bad deals
• Overpay
• Learn the hard way

Pam’s approach:
👉 Wait for the right opportunity

3. Real Estate Is One of the Most Scalable Side Hustles

You can start with:

• One property

And grow into:

• A full portfolio
• Passive income
• Long-term wealth

Who This Episode Is For

• Beginners interested in real estate
• Side hustlers looking to build long-term income
• People who think they need a lot of money to invest
• Anyone curious about low-cost real estate strategies

Key Topics Covered

• How Elijah Bilel approaches real estate investing
• Pam Hill’s “price of a car” strategy
• Passive vs active real estate investing
• Tax strategies like 1031 exchanges
• Transitioning from side hustle to investor

Watch The Podcast On Youtube!

Want to see furniture and amenities that Elijah offers in his rental units? Click here to see all of the items on Amazon!