8 Rentals Remotely Across 3 States While Juggling a Full-Time Job & Family
Dec 16, 2024
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Nico Garcia, a local real estate investor and agent from Montgomery County, shares his journey of managing eight rental properties across three states while balancing a full-time job and family life. He discusses how his parents' investing experience shaped his path and offers valuable tips on remote property management. Nico emphasizes the importance of resilience during challenging times and the benefits of having investor-friendly agents. He also highlights the balance between taking action and careful analysis in successful real estate investing.
The speaker emphasizes the critical role of community and mentorship in overcoming challenges and making informed investment decisions.
Inspired by their parents' real estate journey, the speaker learned resilience and risk assessment which informed their own investing strategies.
By developing a remote investing strategy, the speaker successfully managed properties across multiple states while balancing a full-time job and family.
Deep dives
The Hybrid Real Estate Professional Concept
A hybrid real estate professional utilizes skills and experiences from different life chapters to become a successful real estate investor. The speaker emphasizes the importance of community and mentorship during challenging times, as they significantly alleviate stress and lead to more informed decision-making. Drawing from personal experience, the speaker highlights the lack of community during their initial journey and how this gap influenced their trajectory. Now, they advocate for building connections with other investors, coaches, and mentors to foster resilience and success.
Background and Early Influences
The speaker's interest in real estate was sparked by their parents, who were also real estate investors while juggling full-time jobs. Observing their parents navigate the ups and downs of the market taught the speaker invaluable lessons about resilience and calculated risk. They underline that challenges faced by their parents provided a foundational perspective on the inevitable highs and lows in real estate investing. This legacy ultimately influenced the speaker's decision to pursue real estate as a means to secure their own financial future.
The Journey into Real Estate Investing
Initially, the speaker and their spouse began investing in their own neighborhood in Las Vegas before transitioning to long-distance investments across different states. Their first purchase was a rental property close to home, which allowed them to get comfortable with the process. They later leveraged their equity to acquire multiple properties, including unique off-market deals that significantly impacted their portfolio's growth. This evolution demonstrates the potential success of starting small and expanding as experience and confidence increase.
Building a Remote Investing Strategy
As the speaker relocated due to COVID-19, they faced the challenge of managing their properties from afar, prompting them to develop a remote investing strategy. They learned through trial and error, adopting self-management for their properties and utilizing local contacts to ensure tenant needs were met. Their experience in these different states proved that long-distance investing was feasible and offered valuable lessons in creating a successful system. Ultimately, they established seven cash-flowing rental properties in markets carefully selected through diligent research.
Educational Initiatives and Community Building
The speaker launched a coaching program aimed at guiding aspiring investors through the complexities of building a real estate portfolio while maintaining a full-time job. Emphasizing minimal time commitment, they teach participants how to integrate real estate investing into their lives with practical strategies. The program also highlights the importance of community support and peer engagement, which fosters confidence and accountability. By sharing their experiences and insights, the speaker aims to empower others to take action and navigate their own investment journeys successfully.
Today's episode features me being interviewed by my friends, Ana Bialek and Nico Garcia, on the Agent 2 Investor podcast.
It's always fun to jump on the other side of the mic. We talked about the original reason I got into real estate. The influence my parent's investing journey had on my own and some of the most important tips and tricks I've picked up as a remote real estate investor. Quick shout out to Anna and Nico for letting me reuse this footage.
If you haven't already, be sure to check out their show, the agent-to-investor podcast.
Reach out to ⤵︎
Ana: https://www.instagram.com/anabialek_realtor
Nico:
Instagram: https://www.instagram.com/ngarciaofficial
Ana and Nico's Podcast: https://open.spotify.com/show/1nxse5wmIvqrgxB2Txp6RH
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