If you want to invest in real estate, you’re probably taking a safe, slow approach to building a rental property portfolio. As a real estate rookie, people tell you that the safest way to invest is to get good at one thing while keeping a distance from doing deals outside your comfort zone. While this type of advice isn’t wrong for everyone, it may miss the mark for some.
Investors like Marjorie Patton have found ways to dramatically diversify themselves in the world of real estate, without their losing shirts. Marjorie is the head of sales for a financial technology firm by day and a real estate investor, house hacker, flipper, and private money lender by night. With some rather unexpected renovation costs on her first property (and with no safety reserve), Marjorie was forced to learn real estate investing on the fly.
Fast forward to today, Marjorie has a seven-door portfolio in the expensive Denver, Colorado area. She’s grown quickly and has seen healthy profits, but has no need to quit her W2. Instead, she’s going to creatively parlay any deal that comes across her desk so she can build wealth while continuing to work somewhere she loves.
In This Episode We Cover:
Why diversifying in real estate isn’t such a bad idea, plus how to prepare to do different deals
Using the concepts you know in everyday life to build a real estate portfolio
The benefits of being “scared” when doing deals and building confidence through mistakes
When the right time to quit your W2 is and why you don’t have to succumb to the “financial freedom” pressures
Flipping homes, lending private money, and investing in deals with partners
House hacking an expensive property while keeping your cost of living low
And So Much More!
Links from the Show:
BiggerPockets Website
BiggerPockets Bookstore
BiggerPockets On The Market Podcast
BiggerPockets Youtube Channel
BiggerPockets Podcast #467: #1 NYT Bestselling Author Adam Grant on the Need to “Think Again”
Ebay
MLS (Multiple Listing Service)
Mike Tyson's Official Website
Steve Jobs' Wikipedia Page
Steve Wozniak's Wikipedia Page
Malcolm Gladwell's Official Website
Warby Parker Website
Rocky Mountain Women Invest Meetup
Airbnb
Redfin
HBO’s Billions
Mark Ferguson's Wikipedia Page
Rob’s TikTok Profile
Rob’s Instagram
Rob’s Youtube Channel
Rob's Twitter
David’s Instagram
David’s Tiktok Profile
David's Business Website
Connect with Marjorie:
Marjorie's Instagram
Denver Women Investor Meetup Instagram
Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-602
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