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155: Progress Over Perfection: Building Wealth w/o Any "Home Run" Properties w/ Ali Garced

155: Progress Over Perfection: Building Wealth w/o Any "Home Run" Properties w/ Ali Garced

FromReal Estate Rookie


155: Progress Over Perfection: Building Wealth w/o Any "Home Run" Properties w/ Ali Garced

FromReal Estate Rookie

ratings:
Length:
58 minutes
Released:
Feb 9, 2022
Format:
Podcast episode

Description

Every investor wants all their properties to be loaded with high cash flow, but that’s usually not the case. Realistic expectations are essential to the longevity of your career and the maximization of your investments. Progress over perfection should always be the goal. As today’s guest, Ali Garced, stated, “progress is progress, and it will eventually add up”.Given that her dad is an investor, Ali has always been exposed to real estate, but it wasn’t until she was in the military that she decided to pursue it for herself. Once she realized how great of a resource VA loans are, Ali was determined to buy a house for herself. She purchased a house through the MLS but had to deploy before moving in, so that gave her another opportunity—renting it out. While it had seemed like a great idea, Ali later learned about the 1% rule and realized she was merely evening out after expenses and had no cash flow. This left her questioning if real estate was for her until she checked the appreciation of the house last year. From 2016 to 2021, Ali was shocked to find that the house appreciated double the price.Her unintentional buy and hold profited more than what she wanted to get from renting—a very pleasant surprise. Since then, Ali has invested in four other properties, including an out-of-state turnkey and a duplex. While none of these properties have been a “home run”, Ali is more than thankful for her “base hits” because they helped her build wealth faster than she imagined. Turns out that it’s hard to not make money when buying the right real estate!In This Episode We CoverThe VA loan and how it’s an incredible resource for military families The 1% rule and why it’s an important calculation to make when deciding on future or current investmentsProperty management vs self-management and how to decide between the twoThe importance of having the right permits and how to check themThe classic buy and hold method and how to make a profit with minimal workAnd So Much More!Links from the ShowReal Estate Rookie Youtube ChannelAshley's InstagramTony's InstagramReal Estate Rookie Facebook GroupBiggerPockets InstagramSara's InstagramBiggerPockets CalculatorMLSAirbnbBiggerPockets BootcampCheck out the full show notes here: https://www.biggerpockets.com/rookie155See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Feb 9, 2022
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.