Baltimore Triplex Success: How Hairat Leveraged the BRRRR Formula

How do you turn your property portfolio into a bonafide income stream? Hairat is a consultant with plans to become 'work optional' in the next five years. 

After joining the Open Spaces program in 2023, she already has 3 doors and her dream of getting her real estate investments to work for her is already starting to pay off. 

Living in Maryland, Hairat and her husband decided to invest in Baltimore. They ended up buying a triplex and were able to use Palak and Niti's formula to the “T” to execute their BRRRR! 

Hairat's skills lie in her ability to communicate confidently and clearly. This started with networking when she'd tell people she was a real estate investor, which led to her meeting her agent. And this continued with her General Contractor, who she'd phone daily to ensure no surprises during the reno phase.

There are lessons aplenty in today's episode of The Wealth Blueprint, where Palak makes a surprise appearance towards the end as the discussion of knowing your 'why' as you face your investment challenges reaches an absorbing climax.

Hairat's journey is eloquently laid out for anyone keen to understand the Open Spaces process and start investing in creating time freedom. Please join us. 

(on joining Open Spaces) "At some point, you just have to pull the trigger and jump in. And I find that I'm the type of person that, if I invest in something, I'm going to give it my all." ~ Hairat

In This Episode:

• 03:55 Going 'all in' with Open Spaces (respecting your own investment)
• 06:43 Why decide to invest in Baltimore?
• 12:19 How did Hairat know her first house was the right investment?
• 13:48 Crunching the numbers and adapting Palak's spreadsheets for Hairat's triplex plan
• 17:12 The value of having a good relationship with your GC (General Contractor)
• 19:58 How long did the rehab take? What challenges did you face?
• 25:41 How did you mentally overcome challenges and setbacks?
• 26:58 'New level, new devil': keeping your 'why' in the back of your mind as you face your challenges
• 32:08 Understanding the refinancing process (getting a $60K HELOC)
• 35:10 The importance of having a good credit score to get a good interest rate from the lender
• 38:58 Hairat shares her mindset shift as she works through the modules
• 43:07 What's next for Hairat? Becoming 'work optional' in the next five years

Resources:

• Get a copy of Accelerate Your Real Estate https://a.co/d/bdW6j7K
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

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• Twitter: https://twitter.com/openspaceswomen
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• YouTube: https://youtube.com/@openspaces1251 
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