The Rooky Exam

The rooky exam is a rapid fire, quick answer to questions about starting your own business. The first question: What's one actionable thing rooky should do after listening to this episode? And the last question in the rooky exam will be where you plan on being five years from now.

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While leaving your W-2 to pursue real estate can be intimidating at first, it’s important to realize the skills you learned at your W-2 don’t all go to waste. Most of what you learned is transferable when it comes to the wonderful world of real estate investing. Instead of looking at your W-2 as a means to an end, think of it as an experience-based asset. This is exactly what today’s guest, Emily Fackler, did.

As a former salesperson, Emily was no stranger to the word “no”. In fact, she had heard it so many times she has created a thorough follow-up system to combat it. This follow-up system led her to her first flip, purchasing a home that multiple people told her “was already sold”. Her first flip took her 17 months and while she did two other flips besides that, she soon realized flipping wasn’t for her. This took her to her next real estate venture: mobile home investing.

Emily partnered with her best friend and bought a 39 lot mobile home park for a mere $139,000. Compared to flipping homes, Emily loves it! Investing in mobile homes makes more sense for her financially and allows her to have a sense of relationship with all her tenants. She has been able to hire a property manager to handle all the logistics and hopes to bring more homes into the park. After finding her niche with mobile homes, Emily is ready to hit the ground running and eventually be known as the “Mobile Home Park Queen”.

In This Episode We Cover

The importance of follow up and how much of a difference it can make in your business

How to finance your flips, rental properties, and mobile home parks

Structuring family partnerships and the benefits of working with those you trust

How to pitch investors on a potential deal so they feel confident in your value

The “stair-stepping method” and how to increase rent in a gradual, less intrusive way

And So Much More!

Links from the Show

Real Estate Rookie Youtube Channel

Ashley's Instagram

Tony's Instagram

Real Estate Rookie Facebook Group