As an entrepreneur trying to build wealth, how do you find work-life balance? How do you prioritize your family and life when you work long hours for a better future? Is the time freedom you’re ultimately working towards worth the time you have to give up presently? Amanda Salovitch, today’s guest, shares the balance she’s been able to maintain as a full-time working mom, building a short-term rental business while going from zero to six units in a year and a half.
Amanda has been passionate about real estate for a while. She became a licensed real estate agent fresh out of college in 2008. Amanda worked at a brokerage with another recent high school graduate, and when she decided to pursue a career at the bank, she watched him grow his investment career. The bank required a very fast-paced lifestyle, and it wasn’t until the pandemic that she began to slow down and reassess certain aspects of her future. She started listening to the Real Estate Rookie podcast and became inspired.
She purchased three long-term rentals shortly after she began listening to the podcast. She then closed on a property with three short-term treehouse rentals with various income-generating activities. While living a hectic investor life, Amanda always includes her kids as much as possible. Her ultimate goal is to have the time and freedom to live the life of her choosing with her family, and with the path she’s on, she’ll be able to achieve it soon!
In This Episode We Cover
Getting your real estate license and the benefits of being a licensed investor
Finding your personalized work-life balance and the importance of having a strong “why”
The process of qualifying for a loan and how to qualify for the financing of your choosing
The 1031 exchange explained, its benefits, and its shortcomings
How to get your spouse on board with investing while communicating your goals
Investing while still working your day job and how to manage your time for optimum efficiency
And So Much More!
Links from the Show
Ashley's Instagram
Tony's Instagram
Real Estate Rookie Facebook Group
Airbnb
Real Estate Rookie Podcast
MLS
QuickBooks
Apartments.com
Lodgify
Booking.com
MileIQ
The Real Estate Podcast
Vrbo
Connect with Amanda:
Amanda's Website
Amanda's BiggerPockets Profile
Amanda's Instagram
Check out the full show notes here: https://biggerpockets.com/blog/rookie-207
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