Ever wondered how a finance professional flips the script and becomes a real estate mogul? This powerhouse investor did just that, skyrocketing to financial freedom with a savvy mix of residential and commercial properties. Welcome back to the “Inspired To Invest” podcast. This week, Lindsay Lovell is with us.
In just 18mths, Lindsay scaled from 0-36 doors, reaching her goal of financial freedom along the way. She started out with a focus on the BRRR method, then quickly expanded into flips, short term rentals, joint ventures and passive investments. Now, just two years later, she has 57 long-term rentals, 15 short-term rentals and is a limited partner on 2 mobile home parks passively.
Lindsay co-founded a company calls G-VI Capital Management LLC, a syndication company that has over $15M in assets, and Wanderlust Stays, a co-hosting/vacation rental management company overseeing properties across the U.S. Along this journey, Lindsay also started The Millionaire’s March Coaching, which has been able to bring to life her passion of helping inspire other women to learn how to reach financial independence.
Join us as Lindsay candidly opens up about her remarkable 18-month journey, where she built up a portfolio of 36 stores and didn’t stop there. With a strategy that includes the BRRR method, joint ventures, and hard money lending, she’s an inspiration for anyone wanting to leverage their W-2 job as a springboard into real estate.
Beyond her success story, Lindsay gives us the lowdown on G6 Capital Management and Wanderlust Stays, her enterprises that are shaping the future of property investment and management.
Get ready to grasp the nuts and bolts of diversifying a real estate portfolio, as Lindsay lays out her roadmap starting from a humble $25k property in Missouri. Her approach is not just about growing numbers; it’s about fostering resilient local teams and transitioning from third-party to self-managed properties with a little help from virtual assistants.
Lindsay’s experience is a masterclass in overcoming skepticism and mitigating risks that are inherent to real estate, emphasizing the significance of a diversified investment to withstand market fluctuations and regional adversities.
This episode is a melting pot of wisdom, with Lindsay championing the power of mentorship and the collective intelligence within the real estate community. She shares invaluable tips — like why getting multiple opinions can be a financial lifesaver — and discusses how adaptability is key when the market throws a curveball.
The conversation shifts to strategic changes, such as repurposing short-term rentals to meet unique demands, and provides a peek into the complexities and rewards of such ventures. If you’re looking to get inspired and informed about making your real estate investments work harder for you, this episode is a must-listen.
To connect with Lindsay, go to @lindsayzanelovell on social
Thank you to the Multifamily Conference for bringing us this month’s episodes of “Inspired To Invest”. Check them out on social and to get tickets to this year’s event May 24-26/24.
“Inspired to Invest” is proud to support the Beyond Success Program, a not-for-profit financial literacy program for students, launched by More To Give & MAK Investments. Find out more.
Join us again on Wed., May. 15 to hear from a woman who is investing in real estate while inspiring others to take charge of their financial future.
Thank you for tuning in & remember, “when you invest in yourself, the sky’s the limit!”
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Buy a copy of The Accidental Entrepreneur, or download a free copy.
And, for everything related to real estate and real estate investing, please make sure you’ve subscribed to @serenaholmesrealtor on YouTube & on social.
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Investing In Real Estate Podcast Transcript
Do you want to invest in real estate, but feel like “that ship has sailed” for you? If this resonates, this week’s guest is here to tell you that it’s NEVER too late.
Thank you for tuning into the “Inspired To Invest” real estate podcast. This week’s episode uncovers the inspiring story of Judi Pare, a business coach turned real estate investor and investing coach who has transformed her life, and is now on a mission to provide affordable housing solutions for seniors.
To watch rather than listen, go to: INSERT LINK
Embark on an inspiring journey with Judi Pare, a powerhouse in the world of real estate investment, coaching, and content development.
With over seven years of experience under her belt, Judi shares her intriguing transition from a career in banking and instructional design to becoming a full-time real estate investor. Her remarkable dedication has led to the development of 450 homes across Ontario.
Balancing her rigorous investment projects, coaching initiatives, and content development work, Judi’s passionate commitment to her community shines through. Join us as we explore her past, present, and future in the dynamic domain of real estate.
Our conversation takes an insightful turn as Judi recounts her metamorphosis from a vacation property investor to a land developer. The challenges posed by the pandemic did not deter her spirit as she emphasized the critical importance of relationships in land development.
Learn from her firsthand experience dealing with land severance, building permits, and the resilience required in navigating through the pandemic-era real estate landscape. Judi’s emphasis on relationships in the real estate world offers a fresh perspective and plenty of lessons for fellow investors.
In our final discussion, Judi’s wisdom comes to life as she delves into the world of credit and its profound impact on financial success. Through a captivating story involving a mortgage broker, she demonstrates the importance of credit management and how it improved her credit score. She also brings to the forefront the financial struggles seniors face amidst inflating housing costs, underscoring the urgent need for credit knowledge.
Judi’s journey is an extraordinary tale of grit, tenacity, and a keen understanding of the real estate world. Buckle up and get ready for an incredible journey of learning and inspiration with Judi Pare!
To connect with Judi directly, go to @mama.judes0 on Instagram or plentitudeinc.com online.
Thank you to Conduit Asset Management, Five Oaks Land Development and Stone Hearth Properties for bringing us this month’s episodes of “Inspired To Invest”.
To learn more about them, go to conduitassetmanagement.ca online and for Five Oaks Land Development/Stone Hearth Properties, go to @stonehearthproperties on social or https://fiveoaksld.ca or https://shproperties.ca online.
To connect with our host, Serena Holmes, go to https://www.linktr.ee/serenaholmesrealtor.
To buy a copy of The Accidental Entrepreneur, go to https://www.linktr.ee/serenaholmesauthor.
And, for everything related to real estate and real estate investing, please make sure you’ve subscribed to @serenaholmesrealtor on YouTube & other platforms.
We also have a page dedicated to this podcast on Instagram and Facebook @inspiredtoinvestpodcast where we preview guests each week, highlight their episodes, top takeaways, tips, quotes and more.
Are you a full-time real estate investor with an inspiring story to share? Apply now -https://docs.google.com/forms/d/1p6SfS8dePhLl6wMmSgdPpQ7xsJuEsBUbPDTJ0vgy9h8/
Tune back in on Wed., Oct. 18 for Episode Nineteen for a guest who has experience working on everything from fix and flip properties to rehabbing multi-family properties Canada as well as the U.S.
Thank you for tuning into “Inspired To Invest”, hosted by @serenaholmesrealtor & remember, “when you invest in yourself, the sky’s the limit!”
TRANSCRIPT
Speaker 1
Speaker 1
00:02
Welcome to the Inspired to Invest podcast, where we’re sharing stories from real estate investors and how investing has changed their lives. This episode of the Inspired to Invest podcast has been brought to you by the Multifamily Conference. Hi everybody, welcome to the Inspired to Invest podcast. I have Lindsay Lovell joining us from San Francisco today, so her weather is much sunnier and warmer than mine is at the moment. Now to give you a little bit of background on Lindsay she’s done a lot in a very short period of time.
00:32
In just 18 months, she scaled to 36 stores, reaching her goal of financial freedom along the way, and then, in just two years, focusing on the Burr Method, short-term rentals and flips, she actually scaled to 57 long-term rentals, 15 short-term rentals, and she’s a limited partner in two mobile home park syndications. She also co-founded a company called G6 Capital Management. It’s a syndication company with $15 million in assets under management, and Wanderlust Stays, a vacation rental management company. And she also started something called the Millionaire’s March, which I love because it’s focusing on helping other women gain financial independence. So that’s a close and near and dear to my heart as well. So thank you so much for being here today. How are you? I’m great.
Speaker 2
01:18
Like you mentioned, a little bit warmer than you are, but really excited to be here. So thank you.
Speaker 1
01:22
Yeah, awesome. So I find it really interesting because you’ve obviously done a lot in a very, very short period of time. What were you doing before all of this transpired?
Speaker 2
01:31
Yeah. So you know, if we go way back, I was hook, line and sinker bought into that story that we all probably got told growing up If you work hard enough, get the good grades, you’re going to have that American dream. And so I had done that. Valid Victorian got the dream job in finance out of school and college and was still running the rat race. Went back to school, got my MBA, came out even more in debt and making slightly more money. And I had this moment where I was looking at wealth front, which was, you know, helps you determined in theory when you can retire based on how much you’re saving.
02:07
And it was literally I was trying to eke it towards 63 and a half versus, you know, 64. And I was like, okay, well, as long as I don’t live a day past 96 years old you know, maybe I’ll be okay and I was like this is miserable. Why do we work so hard, Right, and then, right around that time is when COVID hit and everything came to a standstill. Like many people and my husband was like you’re still getting a paycheck, but you can’t be out in the field.
02:34
Why don’t you look into real estate investing? And that’s when I found great podcasts like yours and other communities started doing some research and fast forward. Two months after that, I bought my first house long distance, sight unseen, and I was on a roll.
Speaker 1
02:46
Oh so I mean, obviously you did a lot in a very short period of time. Like how did you actually do that? Because it’s not like you probably had money just to like buy them all. So were you joint venturing, seller financing? Like what was your strategy in order to scale that fast?
Speaker 2
03:00
Yeah, so exactly to your point. We were really successful with the Burr method because we had some, you know, not a large chunk by any means, but we had some money that we could buy a house or two and then, by being successful to pull out a majority of it, be able to rinse and repeat. I also did work with hard money lenders and I did do joint ventures in my first 10. So there’s so many ways to get started even if you don’t have the capital yourself. Yeah, and I did do joint ventures in my first 10. So there’s so many ways to get started even if you don’t have the capital yourself.
Speaker 1
03:28
Yeah, no, that makes perfect sense. Now you mentioned that your husband had suggested that you get into real estate investing. So did he have any background in that, or why did he necessarily suggest that to you?
Speaker 2
03:40
Yeah, you know it’s so funny. You ask that because when we got married he had rental properties and I just never thought about it. We had we’d been married for probably about a year at the time, into the COVID pandemic and we just never thought about it as more than just like an asset. We never paid attention to cashflow or anything. But he had a friend who owned you know a couple hundred doors in Kansas city, missouri and he’s, like you, remind me of Jason. You should connect with Jason and see if this is something you want to get into and do you know more of. And it was funny because after I did have that sort of more investor cash flow mindset, we went back and looked at his portfolio and said, you know majority of these have to go. Yeah, so you know you can own real estate but still really not be savvy and focused in on it. So he sort of just indirectly pointed me in that direction. Yeah, no, that makes sense. So he sort of just indirectly pointed me in that direction.
Speaker 1
04:24
Yeah, no, that makes sense. Now for the career that you were working on before all of this happened. Did you find that you were kind of straddling both sides of the fence for a while? Or, like, did you just rip off the band-aid? You’re like this is what I’m going to do now. Like, what did that journey look like?
Speaker 2
04:47
Yeah, no, I absolutely kept the W-2 job because real estate it’s a marathon, it’s not a sprint, at least in my experience, even though I was able to do a lot in a short period of time. I think, if you can, it’s very important to keep that W-2 job, to have that security and that safety. And when it comes to getting your finance, they’re going to want to see that right. So the lender is going to ask, and so I kept that. And the beauty of it is I loved what I did, but it’s probably going to be phased out with time, just given the nature of what I do. And I was always worried that I was going to have to find a different career and not be able to retire doing what I do. And now I can continue to do it because I love it, and I’m not worried because if and when it goes away, I don’t need to work. Yeah, and so it’s really just a different light of how I get to see my job now.
Speaker 1
05:26
Yeah, no, that makes perfect sense. Now for the portfolio that you have are they all like for the long term rentals? Are they all single family homes and where exactly are they focused? Like, I assume where you live is probably expensive. So I was just curious did you build the portfolio there, or is it kind of scattered around the country?
Speaker 2
05:44
Yeah, it’s absolutely. We don’t own any rentals in the state we live in. The majority are in the Midwest. I really like the Midwest because of the price points and the growth and stability. So, missouri, we do have some out in North Carolina, mississippi, tennessee, colorado and they range from single family. We just recently spun off an eight plex which was the largest that we had, but they’re all majority single family and some duplexes, but that’s really been my sweet spot.
Speaker 1
06:14
Yeah, now when you talk about the price point. What does that look like in some of those places?
Speaker 2
06:19
Yeah, so the very first house that I bought now, granted, remember, you’re getting homes that are 100 years plus, so they come with their own set of you know costs incorporated with them. Um, but the very first house that I bought in St Joseph, missouri, 45 minutes North of Kansas city, missouri, was $25,000.
Speaker 1
06:35
Wow, I put $20,000 of rehab into it for that where I live.
Speaker 2
06:40
So you can’t rent a parking spot out here.
Speaker 1
06:43
Yeah yeah, there are a hundred thousand dollars to buy a parking spot in the city here, so it’s crazy.
Speaker 2
06:48
It’s, it’s insane. Right now have I had to do some, you know, upkeep and replace the furnace, but the house is withstood a hundred years.
06:55
It’s not falling down anytime soon. Yeah, yeah, and you know, you just have to keep in mind the level of tenant that you’re going to get when you’re charging that price point and everything, and just you know, be mindful of that. But again, it’s all about running your numbers to kind of take and mitigate any risk associated. But you know, our sweet spot is anywhere now from, you know, $90,000 to about $200,000 per house.
Speaker 1
07:17
Now, in terms of scaling that portfolio, since you are fairly dispersed, like how did you come to choose those markets? Like, did you just find other real estate investors in those areas realtors and then just in terms of managing them and stuff like that, do you just have? Your local property managers are, like, can you talk a little bit more about like how all of that came together?
Speaker 2
07:35
Yeah, yeah, great, great question. So I ended up in St Joseph Missouri because, exactly like you said, I found another real estate mentor and coach and that’s where he was and he was just very gracious to say I’ll introduce you to my team there. And that was great because it allowed me to see who you need as your team and what they do. And then what I’ve been able to do is find other markets and again it’s sort of been somebody in my mastermind group is in Enid Oklahoma and it sounds great. I have family in Colorado, I want to be able to write off my trips there and then I build a team right.
08:09
I build a team in each of those locations, starting with a rock star real estate agent, finding one that’s investor savvy and then asking them to help me build out my team. And there’s been markets I’ve wanted to go into but because I couldn’t find that great real estate partner, real estate agent partner, I didn’t go into them.
Speaker 1
08:26
Yeah, yeah.
Speaker 2
08:28
You know, if you can’t find the right team, you shouldn’t force it, in my opinion. Yeah, and then your question about management. So I started off having property management and for those ones that I mentioned, you know, a lower price point. Maybe tenants that need a little more hands on, maybe a little bit if I’m going to have an eviction, that’s where it’s going to happen. I do have a property manager there. As I’ve grown to be more comfortable, I’ve hired a full time virtual assistant. So between her and my husband and just systems you can put in place, we self-manage the majority elsewhere.
Speaker 1
08:58
Okay, nice. Yeah, I was just curious to see exactly how that was. Now, when you look at just your overall portfolio, is there anything that you would look at as something you’re most proud of or you feel like is your biggest success?
Speaker 2
09:11
I would just say, having been able to diversify and in different markets, because when I first got started I had people kind of just giving me a really hard time like you’re, you’re, you’re not focused. This is totally not the right way to do it. You should just drill down in one market. You know, I remember one guy that I thought was a really great mentor. He’s, you know, older, you know had had done this for years and I thought, you know, this is what makes me comfortable. It’s important to me to diversify, not only in assets but markets, and to be able to have done that successfully, against what, you know, all the experienced investors were telling me, I think makes me most proud.
Speaker 1
09:49
Just going with my gut, I think that makes perfect sense. Like even when I’ve talked to people about different opportunities and stuff like that and say even they married, I’m like just diversify as much as you possibly can, because there could be things like the economy impacting a place, there could be jobs coming or going, there could be catastrophic weather events and stuff like that. So if you have your whole portfolio in one place, like that can literally go up in smoke if something big happens right. So as much as maybe it could be a little bit more complex and more of like a spider web and and maybe people aren’t comfortable with that I just think it’s the safest way to protect your assets.
Speaker 2
10:20
It absolutely to your point. It can literally go up in smoke your entire portfolio if you have it all in one area.
Speaker 1
10:25
Yeah, no for sure. Now, in terms of growing your portfolio, would you say? There’s anything that stands out to you as one of the biggest obstacles that you faced?
Speaker 2
10:38
You know, sometimes being a woman could be a big obstacle and it was as much external as was internal and me feeling like I didn’t have a right to have a seat at the table. And sometimes you know we’re all learning right and it can show when we’re learning. But we’ve all been there and I think an obstacle sometimes being a female speaking with a contractor who knew I didn’t totally know what you know the process of drywalling was maybe made me a little bit more susceptible to higher bids or other shenanigans. But it’s all stuff that you know comes with time and you learn and you put the right processes in place and you can mitigate that?
Speaker 1
11:14
Yeah, no, that makes perfect sense. Would you say? There’s anything that stands out to you as one of the biggest lessons? And, with regards to that, if you could go back and do anything differently, like would you have shifted anything now, knowing what you know?
Speaker 2
11:28
So I think one of the biggest things twofold and again sort of dealing with contractors and being a female is, um, I’d stop saying I’m sorry for things that weren’t my fault, because I think that’s definitely something we tend to do as females and especially when we’re new in a space. Um, you know, don’t want to feel like we’re impeding on somebody. And just remembering I have the right to be here and using that confident language on the phone and in emails, not just oh, I’m just calling to check in it’s, I’m checking in, I’m paying you to do this, what’s going on? And having that confidence and second learning, to put everything Handshakes are great, but still have it in writing.
Speaker 1
12:09
Have it in a contract, have it in an email, right no?
Speaker 2
12:11
matter how great this contractor be, you know, have all communication changes written and documented, because you’re going to need to go back to it eventually.
Speaker 1
12:20
Yeah, no, I couldn’t agree more. I actually ran my own business for 18 years and it was one of those things like we had clients that’d be like, do I really have to sign this? Or I’m traveling, or I’m busy, and it’s like you know. There was obviously lessons learned along the way and our agreements evolved as things that you never expected to happen happen. Right, but at the end of the day, as long as you have that commitment and that signature, that is your recourse if anything ever happens.
12:41
right, so couldn’t agree exactly but, on that note, we’re just going to take a really brief break for a word from our sponsors and we’ll be right back. The multifamily conference is back may 24th to 26th at the Metro Toronto Convention Centre. Get your tickets at multifamilyconferenceca, thank you. Thanks again for following along with this episode of Inspired to Invest. In addition to real estate investing and running my own brand experience agency for 18 years, I also published a book called the Accidental Entrepreneur in October of 2021. This is my story and it chronicles how I turned tragedy into triumph to embrace my destiny in entrepreneurship. If you’re interested in picking up a copy, you can find the link at serenahomesrealtorcom and you can also find my link tree with all of the retailers in the details below. Thanks again for your support.
14:36
Inspired to Invest is proud to support the Beyond Success program. In today’s complex world, it’s absolutely crucial for our youth to learn how to take charge of their financial future. We believe that every young person deserves access to accurate, practical financial information. Designed to bridge the gap, the Beyond Success program leverages a comprehensive educational boot camp to equip young minds with essential financial literacy skills. At Beyond Success, it’s not just about teaching financial literacy. It’s also about fostering a foundation for a prosperous and empowered future. Join us Together we can build a brighter financial future for the next generations. Join us Together we can build a brighter financial future for the next generations. Join us Together, we can build a brighter financial future for the next generations.
15:24
Hey everybody, welcome back to the Inspired to Invest podcast. I have Lindsay Lovell here joining us from San Francisco, and she’s sharing how she scaled her portfolio to a significant number of long-term and short-term rentals, as well as a syndication with a couple of mobile park homes, and she’s also launched a capital wealth company. So we’re talking about how she managed to do this and all the nitty gritty details in terms of where her portfolio is. So I guess one of my next questions are what would you say is the craziest thing that’s happened to you so far as a real estate investor?
Speaker 2
15:54
I would say the craziest thing is I bought my third house from a wholesaler and I did not realize that when you’re, I bought my first house from a wholesaler and it was great, all good, I didn’t realize that when you buy from a wholesaler, you are literally getting the house and everything as is, and it was a hoarder house.
Speaker 1
16:17
So you know, I’ve seen it in the pictures. I don’t know why.
Speaker 2
16:20
I assumed it was just you know going to be taken when the tenants let you know the owners left and all this stuff.
16:26
Yeah, exactly Right. And so I had my crew ready to go over there and they call me and they’re like Lindsay, we can’t even like, get in the basement door. It’s, it’s stacked so high. What do you, what do you want me to do? And I think just seeing how, how people live and how businesses is done very differently here in this world sometimes was probably one of one of my biggest wake up calls and and crazy experiences. To get me started.
Speaker 1
16:52
Yeah, it really is amazing just to see kind of how some people choose to live Like. It’s just something like you can’t rationalize sometimes but you just have to deal with it. Now you obviously alluded to some of the real estate mentors that you’ve had in different education platforms. Can you talk a bit about what those were like and maybe some of the best advice that you were given along the way?
Speaker 2
17:13
Yeah. So I think, definitely finding a community because you don’t know what you don’t know. And even as I’ve gone along, there were some masterminds that I joined. So I definitely say, if you’re not going to work with a coach or a mentor, masterminds are a great, very financially reasonable way to get connected was more advanced. In the first mastermind that I was in for a long time.
17:37
It was so fascinating to me that the beginner still had questions or brought up things that I was like I didn’t know that. I mean, I’ve been, I’ve been fine doing it all along this way without this resource, but that is really great to know. And so you’re always learning, no matter how experienced you are, and you’re going to teach your mentor things. So just have confidence that you’re going to get to that point. You know, and the best piece of advice that I got from my mentor was to triangulate, and that was always get three opinions, three bids. You know something, because you need that many data points. Real estate is really about the data and the numbers and it’s simple, it’s not calculus, but you do want to make sure you have all the variables and I’ve been shocked. Actually, I just got a call from one of our COOs saying remember how we got two quotes saying to fix the heater it’s going to be several thousand dollars. We just got that third quote and the guy’s like, no, it’s just the board, it’s going to be $780.
Speaker 1
18:40
Wow, $380. Wow, now, if I hadn’t gotten that third data point triangulated, you would have spent. That would have been a big hit. Yeah, yeah, yeah, it’s amazing just how different things can be. One of the offices that I had for a while we had a few contractors coming in to do quotes and they range from 25,000 to 65,000. And I was like like I kind of benchmark what the leasehold improvement budget was in terms of like what made sense, but it was amazing to be just like a very wide span for the exact thing right.
19:00
It was just taking down some drywall and drywalling a couple spaces in the back and I was just floored by all of that. But we had to have a licensed contractor and we had no choice but to go that route and I was like my husband could have done this for like 10 grand maybe no, but you gotta do what you gotta do, right.
19:15
Obviously, you’ve built up a very big portfolio in just kind of a short period of time. What’s next for you, like, where do you see that growing to, and is there a particular financial freedom number that you have in mind that will make you feel like you’ve made it or you’ve arrived?
Speaker 2
19:37
I’m going to start there, because that really was one I struggled with a lot when I first started, because being very, again like I said, all about the numbers, trying to figure out what you’re going to need, you know, 5, 10, 15 years from now, really gave me a lot of anxiety because I’m like, does it need to be this number, does it need to be that number? And I had a great mentor that said you know, for some people it’s about the cash flow.
19:55
And for me being able to replace. I had my number of what you know. I had my spreadsheet and said if my husband and I could live the dream lifestyle, take these vacations, have these you know car payments, blah, blah, blah, our monthly cashflow is this number. And when we hit that number I was able to say I am, I’m, financially free. I feel you know so. For me it was more, not overall worth, but what I was bringing in and could cover each month if both of our jobs disappeared. Yeah, and then. So everybody that’s you know a little bit different, but I would say it’s your W-2 plus maybe half of your W-2 and then some yeah. And then your next question. Now I’m going to totally forget about.
Speaker 1
20:37
That’s okay, just in terms of what’s next. So I’ve looked up a lot Like do you? Think that you have an idea to get to a certain number of doors or maybe to go into a different asset class, like what would be hard for you next.
Speaker 2
20:48
So the latest venture that we’ve gotten into are pivoting, some of our homes being in short-term rentals. We’ve seen some of the markets shift where we can no longer. We’re not permitted, and so, instead of selling them off, we’ve been turning them into group sober living homes. So we recently opened eight of those. They’re a lot of work, so I do not recommend just diving in, thinking it’s passive, like long-term or anything, but it’s a great way to give back to the community. There’s definitely the need, but it’s running a little mini business and community and almost hospitality in each house, but that’s definitely one that we have a passion for that. I’ve been really excited to start taking our portfolio in that direction.
Speaker 1
21:31
Yeah, that’s. That’s interesting. I mean the same thing here that I know some people that have shifted from short-term rentals to midterm rentals. So there’ll be in markets where there’s a high volume of medical, you know, like traveling nurses or construction and stuff like that. So they’ll do anywhere from 30 days to six month leases. So they’re getting that premium rent, maybe not as lucrative as a short-term rental, but a lot less complexity and work in terms of getting it fulfilled. So I’ve seen people pivoting into those strategies kind of closer to home as well.
Speaker 2
21:58
So smart yeah.
Speaker 1
21:59
You just got to be careful to make sure that the you’re not using like a regular lease agreement and you know just all those things. But yeah, it’s just stuff that you wouldn’t have thought of maybe once upon a time.
Speaker 2
22:09
Yeah, and to that point, insurance, because we didn’t have the right insurance on a short-term rental. Having switched it, a pipe broke and none of that furniture was covered. So to your point, you know, whenever you’re switching, make sure you think about all aspects.
Speaker 1
22:24
Yeah, no, absolutely. So you obviously talked about just what you want in terms of cashflow and financial freedom and stuff like that, but can you speak to how real estate investing has changed your life as a whole, like in terms of work-life balance and your lifestyle, and maybe your just feelings about the future?
Speaker 2
22:40
Yeah, I had a lot of like I mentioned I had a lot of anxiety about the future before. What is my job going to look like? Is it going to be? Am I going to have to go back to being inside of a cubicle all week? And real estate investing has showed me that there’s lots of different types of wealth, and for me, I’ve realized my happy wealth is freedom and flexibility, and now I have the choice on how to spend my days. I have the choice of you know what kind of job, if at all. I want to work in corporate. I can go hiking in the middle of the day, I can go travel and still be making money and managing a team. And so for me, I think that wealth of freedom and flexibility and it’s 100% changed my life, not only in the financial aspect, but it’s given me more confidence. I’ve met so many more great people I never would have, so it’s really kind of rounded out my life too in just all aspects.
Speaker 1
23:35
Yeah, yeah, no, I couldn’t agree more. I mean, I’m part of a mastermind as well, and a couple of other communities, and it’s just nice to spend time around people that have that same mindset and the same objectives, and it’s just different conversations that you’re going to have in those kinds of rooms, right? Obviously, the name of this podcast is inspired to invest, so I like to ask my guests what their most inspirational or motivational quote is and how that kind of impacts them.
Speaker 2
23:59
Yeah. So my, I think, biggest one that we often, sometimes need came from a book called the psychology of money and it’s more recent, but it’s one of the hardest skills in life is to remember not to move the goalpost, because I think we sometimes forget to celebrate what we’ve accomplished. And it’s so easy, to your point, we’re in these communities and we see everybody having this many doors and do it, and there’s always going to be somebody with more. But if we stop moving the goalpost or remember ourselves three years ago being impressed at what we’ve accomplished and that it’s a huge accomplishment, I think it just brings so much more fulfillment to life and helps you appreciate everything that you’ve had and to realize you are accomplishing something more often than you realize.
Speaker 1
24:48
Yeah, yeah, no. I think that that’s really important Now in terms of how people can find you. What’s the easiest and quickest way that they can get ahold of you if they want to learn about your Millionaire’s March or your capital company or anything like that?
Speaker 2
25:01
Yep, so you’re going to put it in the notes. You can go to millionairesmarchfreestrategy sessioncom. Schedule 30 minutes with me.
Speaker 1
25:09
Love to chat Awesome. So, like you said, it’ll be in the show notes below. And, of course, thank you so much for your time here today and for anyone that is tuning in. And, of course, thank you so much for your time here today and for anyone that is tuning in. Please make sure that you like, comment and subscribe, and make sure that you’re followed along on social at Inspired to Invest Podcast and, above all else, remember, when you invest in yourself, the sky’s the limit. Thanks again. Thank you to the Multifamily Conference for bringing you this episode of Inspired to Invest. The views represented on this podcast are for general information only and does not constitute investment or other professional advice or an offering of securities. The host and guests featured on Inspired to Invest make no representations as to the performance of any particular investment. Should you decide to make an investment, you are responsible for conducting your own review and analysis. It is recommended that you obtain independent legal accounting and tax advice from licensed professionals.