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How many rentals do I need to retire?

Uncategorized Jan 23, 2021

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...

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How One Investor Made $190,000 Equity on a Single Real Estate Project (And Four Tips for New Investors)

Uncategorized Jan 22, 2021

New investors can easily be overcome with fear when faced with challenges, preventing them from going all-in in property investing. Learn what it takes to be a successful and fearless investor.

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...

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Property not renting? Use the VSAP method

Uncategorized Aug 05, 2020

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:

  • Listing improvement: Most tenants start their search for a rental online. Since the property listing websites are inundated with rental listings, you need to grab tenants’ attention with better photos and descriptions. Write a description that addresses the pain points of your target tenants. For example, if you are listing smaller units, you...
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How I created a $4M rental portfolio in 2 years by supercharging the BRRRR strategy

Uncategorized Feb 21, 2020

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.

 

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Busy Work or Life's Work

Uncategorized Feb 03, 2020

“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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Dare to dream big!

dream dream big family goal Nov 30, 2019

“The great danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark."

~Michelangelo

 

My goal was to spend more time with my family. My dream was to achieve financial independence, to become my own boss and grow to reach my fullest potential. Once I started and stabilized my business to go towards the path of achieving this dream, I found myself falling into the abyss known as "hustling". Hustling is often the way of life for entrepreneurs - it is the driving force behind a lot of decisions made on the go and it requires constant hard work. Hustling is captivating, motivating and an adrenaline rush, and most importantly, it helps an entrepreneur get their business up and running. However, it is very important to come out of the hustle mindset, because in the long run, it can be disruptive, derailing and can eventually burn one out.

This blog is a case against hustling! The biggest...

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Four elements on Choosing a Property Manager

After many personal experiences – good and bad –hiring property management companies and managing properties on our own, we’ve figured out some key elements to keep in mind when choosing a property management company. Here are four that we think lead to a successful business partnership.

1. Integrity

It may seem like a cliché to put integrity on the top of the list; however, a property manager’s decisions and actions have an effect on the property owner’s profit. Tracing the actions and decisions that result in a lower return on investment after the fact is difficult.Therefore, integrity is the most important component to look for from the onset. The best way to find out whether the property manager in question is reputable to use the following tools:

• Have a face to face meeting to get a sense of the person or team and their attitude.

• Check references from current property owners who entrust their property to the property...

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Lessons Learned From Theft At a Project

“The fight is won or lost far away from the witnesses, behind the lines, in the gym, and out there on the road; long before I dance under those lights.”

~Muhammad Ali

We just finished rehab on a new rental property in a great location in Philadelphia, close a major transportation hub and a University.  However, majority of the work in entrepreneurship is not glamorous.  These are stories that don't come with cool shiny photos, these are stories that will definitely not make it to Instagram. This post is highlighting one of those stories and the lessons learned from that.  I wanted to share this because it will help a new investor navigate through adversities in their journey.  The day we closed on the property, right before we could even change the locks, there was an unfortunate theft at this property.  One of the items stolen was the boiler among many other things.  My contractor called me genuinely upset about this.  A theft can...

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Four Advantages to Self-managing Passive Rentals

I'm a huge proponent of the 80-20 rule wherein 80% of the tasks / projects must be outsourced or eliminated and only the most important 20% must be performed by entrepreneur. Even if the owner is in the same general vicinity, property management is one aspect that seems to fall under the 80% for a lot of investors. Over the course of the past few years, I've come to realize that managing one's own properties isn't just to save money, it has other advantages as well. With process streamlining and outsourcing key elements of property management, the tenant landlord relationship can be some thing an investor can maintain without a lot of time commitment. Here are the four key advantages that aren't always apparent.

1. Providing High Quality Service

The amount of money one can save by not hiring a property management company (5-10% of the rent) can be used to make both the tenant's and the landlord's life easier which helps provide high quality service. Time and again, my tenants...

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4 Steps to Take the Leap of Faith & Start Investing Now

Uncategorized Aug 22, 2019

Look, I get it. We live in an information-overload world. We listen to hundreds of podcasts and read numerous stories about how people started in real estate and wonder, “Which strategy is the best? Which market is the best? Which is the best stage of the market cycle to invest?”

Fear of failure resulting in hesitance to invest affects male and female investors alike. There’s even a name for it: analysis paralysis. But if you try to understand the science behind it, you will see why these questions are undermining your ability to get started.

Gretchen Rubin, author of The Happiness Project, talks about satisficers and maximizers: “Satisficers make a decision once their criteria are met; when they find the hotel or the pasta sauce that has the qualities they want, they’re satisfied.” On the other hand, “Maximizers want to make the best possible decision; even if they see a bicycle that meets their requirements, they...

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