105: From Minimum Wage to Full Time Flipper with Ophelia Nicholson

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 15 January 2015

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Prepare to be inspired and motivated after listening to today’s episode of the BiggerPockets Podcast! In this program we sit down with Ophelia Nicholson, a house flipper from the Maryland area who got started with real estate while working a minimum wage job. You’ll learn how she broke out of that life and was able to quit her job to become a full time, successful house flipper, working on multiple properties at once! Listen for insightful tips on applying for a loan, learning to be a landlord, partnering with family members and quitting your job for real estate. If you’re wondering whether it’s possible to make your investing dreams come true, don’t miss out on this episode — it’ll give you great insight into how you CAN make it happen! In This Show We Cover: How Ophelia got started investing The story of her “first small house“ How to buy a house on a minimum wage salary Tips on applying for a loan The experience of becoming an accidental landlord What to do if you’re sued by your renter Lessons about starting out as a landlord Ophelia’s on and off relationship with real estate The pros and cons of partnering with family How to put 15 properties under contract in 30 days Quitting your job for real estate Thoughts on women getting into real estate investing Plus MUCH more! Links From the Show: BiggerPockets’ Trivia (email) BP Podcast Show 104 BiggerPocket’s Real Estate Analysis Software BiggerPockets’ List of Hard Money Lenders BiggerPocket’s Flipping Book Books Mentioned in the Show The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties by J. Scott Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone The Trick to Money Is Having Some by Stuart Wilde Connect with Ophelia Ophelia’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 105.
0:05.0	You're listening to Bigger Pockets Radio,
0:08.0	simplifying real estate for investors large and small.
0:11.0	If you're here looking to learn about real estate investing without all the
0:14.8	height, you're in the right place. Stay tuned and be sure to join the millions of others who have
0:20.6	benefited from bigger pocketsPockets.com.
0:23.0	Your home for real estate investing online.
0:26.0	What's going on everybody? This is Josh Dorkin,
0:29.0	host of the BiggerPockets podcast
0:31.0	here with my co-host, Brandon.
0:34.0	Hey Josh, how you doing?
0:36.0	Hey, how the heck are you?
0:38.0	I'm sick, again, still.
0:40.0	I know. You're like, yeah, you need to stop eating organic and start eating just a whole load of crap man because I know I know I know I'm like the healthiest eater on planet Earth and I'm like always got a cold that's okay. I'm going on vacation in a week from now. I'll be in beautiful sunny Hawaii.
0:55.8	Wow. Must be nice. It's going to be amazing. Yeah, I'm not going to talk to you for a week.
0:59.4	You're going to be on what? I haven't. I don't know what that word is so I don't quite understand it the
1:04.9	concept yeah you yeah you need to do that sometime yeah I know I know all right well
1:09.8	listen today we've got a really really cool show I'm I'm super excited for it. Before we go there, let's do today's
1:16.0	Quick tip. All right, quick tip.
1:19.0	All right, quick tip. All right, being that at 2015, Josh and I are actually going to start doing some new ideas with the
1:24.2	podcast here at Bigger Pockets and one of those is a weekly trivia contest so our
1:27.8	quick tip today is try to listen to the podcast when it comes out don't wait weeks
	...

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