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My husband and I decided we wanted to get into multi-family real estate investment because we wanted to be able to have some passive cash flow, build up some equity, and leave a legacy for our kids.
We started looking and asked our real estate agent to help us.
The real estate agent that had helped us get our single-family house knew nothing about investment property. Though she tried her best, she really was completely ignorant about what we needed to look for, and alas, mostly so were we.
The commercial brokers who could have helped us were not interested in speaking to "small fries" who had no real experience in multi-family investing.
We were looking for a fourplex in Los Angeles where we live, and the prices were unbelievably high. It was really hard to find a deal where (a) we could even afford it and (b) where we'd be making any money.
I was incredibly frustrated and eventually despaired that we'd ever find anything.
Then, fate stepped in, as it often does when you're o...
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There are a lot of different ways of investing in real estate! You can be an active investor or a passive investor, you can invest in homes, apartment buildings, land, notes, hotels, industrial, and more. There are so many options!
That's what I love about our REI Goddesses community- women are investing in many different ways, in many different locations, and you can see all of these women CRUSHING it in real estate - all shapes, sizes, ethnicities, ages, marital statuses, etc. It is SO inspiring!â
You need to create a plan that will work for you. If youâre making a blueprint for a building, the blueprint will be very different if the building is going to be a 2-bedroom house or a 100-story skyscraper.
If you have the wrong plan, youâre not going to make the right investment decisions for you and your goals. This could result in you losing money or not having your money available to you when you need it.
Jenny came to me for a ...
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Investing in a money-making market is KEY to ensuring that your investment is cash-flowing for a long period of time.
Whether or not your property will make money has almost everything to do with its location. So how do you find the right market and submarket that will allow you to profit with your real estate investments? Here are 7 factors that I look for before I invest to make sure it'll be a worthy investment:
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Remember when you have rental property, you are a landlord & you are a business. Laws & policies that favor landlords & businesses will make a big difference in your ability to profit.
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The next factor in a good investment property market is to have a low-to-medium cost of housing.
The cost of housing is important because (a) it will determine your ease in being able to enter the market (the more expensive a market, the harder it will be for you to purchase there), and (b) you will have to be able to cha...
Modern women are fast-paced women who juggle their time between family, career, and friends. I always ask women who join my community -- what's the biggest challenge you face with regards to real estate investing? The #2 biggest challenge is time. I get a ton of responses saying: "I am stuck because I am a mother, I don't have time," or "I am feeling burned out with my career, I think I don't have time to do real estate."
That is the 2nd BIGGEST EXCUSE women use for not getting into real estate investing:
"I DON'T HAVE TIME"
It seems like a valid excuse -- people imagine that there's a tremendous amount of time needed to find and purchase a property, rehab a property, find a tenant, manage tenants, etc.
And sometimes those things are needed, but not always. The great thing about real estate investing is that there are many ways to invest -- quite a few of which require little to no time!
In my free guide: Investing in Real Estate from $1 to $1 Million Dollars, I share 3 strategies...
If you're in the States, I want to wish you a very Happy Thanksgiving. I want to say THANK YOU! I'm so grateful that you're along on this journey with me!
I firmly believe that real estate is one of the best ways to build wealth, and that women with wealth give back to their families, communities, and the world. Thank you for doing your part to make the world a better place!
As you enjoy your Thanksgiving feast (or not), remember that not much happens in the Real Estate Investment world in this period between Thanksgiving and New Years' Day.
After Thanksgiving, most sellers will wait until mid-January to put their properties on the market. Many of the insurers, lenders, contractors, lawyers. etc. go on their holiday breaks, so the timelines for closing deals and doing rehab slow way, way down.
It's a sleepy time for deals, but there are definitely things you can be doing. So what can you do to get ready to start making some/more money in real estate next year?
I have three suggest...
âSuccess occurs when your dreams get bigger than your excuses.â ~Anonymous
I am OBSESSED with my mission to help 1 million women find financial freedom through real estate investing. I know that real estate investing is something that is accessible to any and every woman, but so often I hear excuses from women about why itâs not possible for them now.
The #1 excuse I hear from women about why they canât invest in real estate is: âIâd love to get into real estate investing, but I donât have enough money to do so.â
Most women think you need to have millions (or at least hundreds of thousands) of dollars in the bank before they can get started.
Iâm here to show you why this isnât at all true! In my Investing in Real Estate from $1 to $1 Million Guide, I share with you various strategies for investing in real estate at all different price points, including ones for as little as $1(or less)! In fact, several of the strategies donât require any of your own money, though they will require...
Interest rates are incredibly low due to the Federal Reserve's attempt to stem negative effects from the pandemic and stimulate growth. This is what it means for you as a real estate investor:â
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- When you're borrowing money, you are borrowing it at sometimes less than the cost of inflation right now. You can use OPM (Other People's Money) for next to nothing.â
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- There is a record-low supply of homes for sale, and homebuyers are facing competitive bidding wars. The low-interest rates are also helping to drive up prices.â
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- The low-interest rates make refinancing particularly attractive. In 2020 refinancing activity reached a 17 year high. Savvy investors are doing cash-out refinances (a non-taxable way to access cash from the equity in your home) to have funds available for more investing.â
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If you can find the right property at the right price, low-interest rates make buying with leverage particularly great right now!
Andrew Carnegie said, â90% of millionaires become so through real estate. More money has been made in real estate than in all industrial investments combined.â
I know I preach a LOT about how important investing in real estate is to build generational wealth. I know I am always sharing how it has allowed me, and so many goddesses I know, to achieve real financial freedom. But itâs not just me who believes this to be true! People all around the world have created millions because they invested in real estate. They put their money in properties, homes, complexes, commercial buildings, etc and their money made them more money until they achieved the millionaire status that they enjoy today.
Here is a list of some of the female real estate investors who have had the greatest impact on the real estate industry:Â
-Â Barbara Corcoran:Â Judge on Shark Tank + real estate investor.
Barbara Corcoran was committed to succeeding. At the age of 23, she quit her job as a waitress and borrowed $1,...
Are you in a rut? Going through the motions? Checking off the to-do list just because thatâs what youâre supposed to do?
If reading that sentence made your heart sink in recognition, or you breathed a sigh of relief that someone else said it, know this: you are not alone.
Even in a season where we are surrounded by reminders to be thankful, overwhelm is real. Youâre doing and balancing a lot.
But, thereâs good news.
Weâre here for you. Weâve been right there in your shoes. And weâll be right here, with our hands reaching out, until youâre feeling fabulous, fun, and right on track.
But where do we start?
When I feel stuck, I focus on things that I know have a HUGE impact:
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