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Case Study: My First Out of State Multifamily Deal (Minisode)

Case Study: My First Out of State Multifamily Deal (Minisode)

FromThe Real Estate InvestHER Show


Case Study: My First Out of State Multifamily Deal (Minisode)

FromThe Real Estate InvestHER Show

ratings:
Length:
14 minutes
Released:
Feb 28, 2023
Format:
Podcast episode

Description

Ladies, are you looking to expand your real estate investing portfolio beyond your home state, but feeling intimidated by the prospect of out-of-state investing? Welcome ladies to the Real Estate InvestHER Show! In this minisode, Liz and Andresa explore the often-intimidating topic of out-of-state investing. Through their own experience of purchasing their first multi-family property an hour and a half away from home, our co-hosts discuss their journey in navigating the process. They talk about how despite the distance, they were still able to manage the property through their team of leasing agents, tenant relations managers, bookkeepers, and maintenance techs. They share their lessons learned from making an offer of 3.2 million that was rejected, only to end up securing a deal for 3.3 million that was appraised at 3.9 million. Listen in as they discuss self-management and pivoting to hire third-party management companies, bringing in an owner on the owner's side, knowing your numbers, understanding local market knowledge, and more.  Ladies, this is a must-listen episode of an inspiring story filled with actionable tips on successfully investing out of state! Quotes ·        “It is important that you know your numbers and you are willing to walk away when a deal does not fit your goals.” (07:27 – 07:32) ·        “Walk away when the deal doesn't make sense. You are in the driver's seat. Don't forget that ever”. (08:41 – 08:47)·        “Do not be afraid of turning a deal. If it's the right deal at the right time for you, it will come back and it'll be a learned lesson." (08:49 - 08:54)·        “The team goes deeper than just the “local team”. Find an owner who can represent you and who's part of your core team, your core ownership.” (09:46 - 09:55)·        “When you get presented with deals out of state, you look at your long-term goals. Is this going to help me move toward my long-term goals basis? You need to analyze what works and what's not working for you”. (09:56 - 10:08) How To Join the InvestHER Movement  1) InvestHER CON 2023 HOLIDAY EDITION!*Get a ticket to IC2023 and receive access to the 2022 recordings immediately!·        How to spot a good deal from a bad deal? - Kim Kiyosaki + HANDOUT·        Why 10x Is Easier Than 2x - Shannon Waller + HANDOUT·        And much MORE!  Here is what you can expect at InvestHER CON 2023:·        Pre-event network·        2 Full days of transformational experiences·        Access to over 20 Sessions with Keynotes and Speakers·        Recordings from all sessions·        Access to investors, mentors, and influencers·        Mindful networking·        Opportunities to connect with our sponsors + vendors·        Coffee and Lunch included·        Final Reception: Red Party·        Live 30-day Group Accountability Virtual Session with the Founders Liz and Andresa·        Exclusive Breakfast for STRIVE members only."InvestHer CON was truly a transformative experience. I have felt so alone for so long and now I feel like a have a community of support. I don’t have to be the master of everything and take it all on my shoulders, I just have to do what I am excellent at." Heather Giammichele  We reserved the entire resort for us!  Join us in Scottsdale, Arizona, May 18-19. Get your ticket today! https://www.therealestateinvesther.com/investhercon *Promotion ends on Dec 31st at midnight EST 2) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses, and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via:·        Apple Itunes ·        Spotify·        Amazon Music·        Android  ·        Stitcher  3) The Real Estate InvestHER Membership STRIVE A membership for highly ambitious and d
Released:
Feb 28, 2023
Format:
Podcast episode

Titles in the series (100)

The Real Estate InvestHER Show delivers straight talk and inspiration for current and aspiring female real estate investors to live both balanced and financially free lives. Co-hosts Liz Faircloth and Andresa Guidelli bring on rockstar women investors who open up their lives and share practical tools for growing a rental portfolio, flipping houses, and developing the mindset that allows them to run successful businesses while taking care of their families and – most importantly – taking care of themselves.