How do you get out of analysis paralysis when considering investing in real estate? Welcome to The Wealth Blueprint. Today Palak Shah is flying solo, showing us how to take action and get started with your property portfolio in four easy steps.
What is your property Avatar? Understanding the neighborhood that you're in, and the specs that you are after, is where Palak starts in unpacking her ABLE framework. Is your ideal property investment small, simple, and scalable?
Palak is also sharing her wisdom on how you need to verbalize the lifestyle you are after and repeat it like a mantra. Getting into property and getting past analysis also involves managing your expectations and taking a leap of faith. With The Wealth Blueprint, taking that leap of faith has never felt better. Let's dive into the show.
"I want to share this framework with you today because it's plug-and-play. You can implement this directly into your business, into your life. If you are someone who loves to...
As a high earner, how do you build a multi-million dollar portfolio in three to five years, and make work optional? Welcome to The Wealth Blueprint: Financial Freedom Through Real Estate, with your hosts Palak Jamdar and Niti Shah.
Palak and Niti are guiding us through the 'SCALE Framework' they used to build a ten-million-dollar portfolio in five years, which allowed them to retire from their high-paid jobs.
They're covering some important topics today: the BRRRR strategy, and what they then did differently to other investors. Understanding their SCALE Framework means you won't have to make the same mistakes they did as you build your property portfolio.
The SCALE Framework is a blueprint that allows you to scale fast, build cash flow fast, and use the least amount of time. It's a surefire plan to build your multi-million dollar property portfolio in no time. Let's dive into the show.
"As Warren Buffett says, sometimes it's not about how hard you're rowing...
Are you ready to embark on a journey toward owning your own million-dollar rental portfolio? Welcome to The Wealth Blueprint: Financial Freedom Through Real Estate, with your hosts Palak Jamdar and Niti Shah.
This is no get-rich-quick scheme, just an honest couple sharing their blueprint for how they transitioned from their hard-working career-defined lifestyle to a lucrative passive income and an investment portfolio that they can leave for their children, creating genuine generational wealth.
In this inspiring first episode, Palak and Niti not only share their blueprint, but their 3 Guiding Principles as well. Listen to their story of how, after a combined thirty years of career hustle, they were still nowhere close to achieving financial freedom.
As they so succinctly share, they may have been taught to create income – but no one taught them how to create wealth.
And that's what they're offering us with The Wealth Blueprint: a relatable story of one...
You’ve found a deal that looks the part. But before you jump in, there are a few things you need to do.
Let’s talk about a deal that two of my clients, Ryan and Anna, found recently.
On paper, everything looks fantastic.
The property has a potential After Repair Value (ARV) of $175,000, and that could go into the couple’s pockets after a little renovation work. On top of that, there’s potential for the property to generate $1,400 per month in rent, which is more than enough to pay the costs of running the property.
So, we see substantial growth potential and an excellent rental yield.
But that’s not all!
The couple planned to get a mortgage offering a 75% Loan-to-Value (LTV) ratio. That means solid equity placed into the property from the beginning and less interest to pay throughout the loan.
As we said, it looks like a fantastic deal on paper.
The question now is…
Should Ryan and Anna go for it?
All of these early signs indicate...
Real estate business and investing is a never-ending process of learning.
In this case, we're talking about Home Equity Loan (HEL) and Home Equity Line Of Credit (HELOC)
As the borrower, HEL provides you with a single lump-sum payment and is repaid at an agreed-upon interest rate over a set time (usually five to 15 years). Over the loan's lifetime, the payment and interest rate usually remains the same. When the home on which it is based is sold, the loan must be repaid in full.
Whereas a HELOC is a revolving credit line, which, for a term determined by the lender, you can draw on as needed, pay back, and then draw on again. HELOCs typically have a variable interest rate, but some lenders offer fixed-rate options.
In other words, it's a...
Achieving a vision starts with creating one. As a high paid stressed out corporate couple with children, one gets used to a life that is defined by steady paychecks with a promise of a few percent of increase in pay each year and a few weeks of vacations. But if you think outside the box, there is a whole new world waiting for you to explore.
When I was working at my corporate job as a mechanical engineer for 16 long years, I realized that I was not building any other wealth at that job. Yes, the salary was high, but my ceiling was fixed and defined by my superiors. I did not have the control of my own destiny. I wanted a path where I could define my own growth. And Real Estate investing has been that and so much more. It not only allowed me to build wealth and replicate my six figure income, it allowed me to explore my own fullest potential.
As you start your journey, use this formula to figure out the number of rentals you will need to retire. It will...
With the right investing strategy, just one investment property can generate a significant amount of equity. And one shining example of that is the experience of one of the investors who worked with us.
This investor now expects to see $190,000 in equity from a single property once the project reaches completion. But prior to that, she had done another deal wherein the results were a far cry from those figures - it was nowhere near that amount of equity.
Such a result can easily deter a new investor from moving forward in their property investing journey.
But where some people would have given up, she pressed on. She created a game plan and stuck with it. And soon, she’ll reap the rewards of doing so.
This investor is proof positive that even if you start small, it’s absolutely...
Filling up vacancies is one of the things that beginner real estate investors find extremely challenging. A high vacancy rate can be a major blow to the Net Operation Income (NOI). A poor NOI will have a negative impact on almost every aspect of your investment goals. It will not only reduce the cash flow, but also decrease the property’s market value.
If you are having a hard time renting your property, I would recommend that you use my tried-and-tested ‘VSAP’ method. The acronym stands for Views, Showings, Applications and Pool.
Here are a few tips you will find useful in implementing the ‘VSAP’ method:
As a corporate couple with two young children, my husband and I led stressed out lives. I remember one instance where I was on a conference call while pumping in my office which had newspapers that covered the windows and thinking to myself, is this why I worked so hard for 17 years to build a career? After I quit my job and moved over to full time Real Estate Investing, I used my skills as an Engineer and leveraged my knowledge on building systems, teams and processes that I had acquired while climbing the corporate ladder to exponentially grow my portfolio. It wasn't until I was celebrating my son's third birthday, that I remembered that I had put my first BRRRR property under contract on his first birthday and that it had only been two years. In my recent Biggerpockets podcast interview, I have talked about all of the following and much more. I'd love for you to check it out and also give me some feedback on what resonated with you over on instagram at @openspaceswomen.
“On the one hand, we all want to be happy. On the other hand, we all know the things that make us happy. But we don’t do those things. Why? Simple. We are too busy. Too busy doing what? Too busy trying to be happy.”
—Matthew Kelly, Bestselling Author
In 2016, I gave birth to my second child, my son. A few months later, I decided to become a full time investor and entrepreneur. I put my first BRRRR (Value add investing) property under contract on his first birthday. Two years later, when he turned three, I had built a $4M portfolio. In 2019, our revenue crossed the $1M mark. I launched the coaching arm of my business in 2019 too. I have been mentoring others who are interested in Real Estate Investing for the past couple of years and seeing my students' consistent success, I realized I was good at presenting complex ideas in simple, easy to follow way and felt fortunate to have the freedom to create another business. This whole time,...
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