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Real Estate Rookie

155: Progress Over Perfection: Building Wealth w/o Any "Home Run" Properties w/ Ali Garced

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.7 • 1.8K Ratings

🗓️ 9 February 2022

⏱️ 59 minutes

🧾️ Download transcript

Summary

Every investor wants all their properties to be loaded with high cash flow, but that’s usually not the case. Realistic expectations are essential to the longevity of your career and the maximization of your investments. Progress over perfection should always be the goal. As today’s guest, Ali Garced, stated, “progress is progress, and it will eventually add up”. Given that her dad is an investor, Ali has always been exposed to real estate, but it wasn’t until she was in the military that she decided to pursue it for herself. Once she realized how great of a resource VA loans are, Ali was determined to buy a house for herself. She purchased a house through the MLS but had to deploy before moving in, so that gave her another opportunity—renting it out. While it had seemed like a great idea, Ali later learned about the 1% rule and realized she was merely evening out after expenses and had no cash flow. This left her questioning if real estate was for her until she checked the appreciation of the house last year. From 2016 to 2021, Ali was shocked to find that the house appreciated double the price. Her unintentional buy and hold profited more than what she wanted to get from renting—a very pleasant surprise. Since then, Ali has invested in four other properties, including an out-of-state turnkey and a duplex. While none of these properties have been a “home run”, Ali is more than thankful for her “base hits” because they helped her build wealth faster than she imagined. Turns out that it’s hard to not make money when buying the right real estate! In This Episode We Cover The VA loan and how it’s an incredible resource for military families  The 1% rule and why it’s an important calculation to make when deciding on future or current investments Property management vs self-management and how to decide between the two The importance of having the right permits and how to check them The classic buy and hold method and how to make a profit with minimal work And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group BiggerPockets Instagram Sara's Instagram BiggerPockets Calculator MLS Airbnb BiggerPockets Bootcamp Check out the full show notes here: https://www.biggerpockets.com/rookie155 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Real Estate Rookie, episode 155.

0:08.6

As long as you purchase a base kit and you keep doing that consistently,

0:13.1

you will look up one day and realize how far you've gone.

0:16.0

So I have gotten consistent base hits and I'm pretty good with that.

0:25.8

My name is Ashley Care and I'm here with my co-host Tony Robinson.

0:30.4

And welcome to the Real Estate Rookie podcast where we give you the maybe

0:34.5

gritty details on how to get started as a real estate investor.

0:38.1

But more importantly, we give you the community you need to stay motivated and make things happen.

0:43.9

So, Ash, what is going on with you today?

0:45.9

How are things in Buffalo?

0:47.4

Well, I'm still on the couch.

0:49.6

This is my new podcast suite.

0:52.1

Still got my leg elevated with ice.

0:55.2

I go and get my MRI in a couple hours.

0:58.4

Looks like it's going to be an MCL tear and maybe an ACL tear too.

1:04.0

This is like really awful.

1:05.2

This is my first real big injury where I've been laid up for more than a week.

1:10.5

So it's definitely been a change having to have somebody show for me around

1:15.9

just even getting something to eat.

1:19.5

But I heard you moaning and groaning a little bit too.

1:22.5

Yeah, man.

1:23.3

I don't know if the injuries are contagious or what, but I was at the gym.

...

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