161: Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace Gudenkauf

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 2 March 2022

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real estate favors those who value risk. An investor’s willingness to take a calculated risk separates the good from the great. And today’s guest, Grace Gudenkauf, is definitely on her way to greatness. This ambitious 24-year-old has managed to get seventeen doors between eight properties under her belt in less than a year, and she shows no signs of slowing down. She was first introduced to real estate when her boyfriend decided to flip a house. It didn’t pique her interest until she reviewed the numbers and saw the potential. Since then, hard work and calculated risk have allowed her to have the accelerated success any new investor dreams of. A substantial amount of this success is due to her and her boyfriend making it a point to “never let the money stop them”, they “get the deal first and then find the money.” Most would be reluctant to take this approach, but it has worked phenomenally for Grace. From talking directly to a VP at a local bank to deciding to leave her W-2, Grace keeps taking risks in the name of real estate, and it keeps paying off. When it came to deciding if she would leave her W-2 or not, Grace looked at the worst-case scenario to weigh her options. After it was all laid out—her worst-case financially, emotionally, and socially—she decided the risk was well worth it. This is an episode you don’t want to miss. In This Episode We Cover Taking on big rehabs as a rookie and how to DIY to save money How to find creative ways to finance your property Creating an LLC and structuring it so you can have fewer headaches and more properties Residential vs commercial loans and why commercial loans can be a helpful resource to any investor Commercial loan qualifiers and how to improve your chances of getting approved How to look at the worst-case scenarios so you can feel confident in your risk tasking And So Much More! Links from the Show Ashley's Instagram Tony's Instagram James' Instagram Real Estate Rookie Facebook Group BiggerPockets Website BiggerPockets Real Estate Rookie Youtube Channel BiggerPockets Podcast 109: From Sleeping in His Car to Multi-Unit Landlord & The "Nomad" Strategy The BiggerPockets Podcast BiggerPockets Forums Alpha Geek Capital Website Google Google Voice Google Suite Check out the full show notes here: https://biggerpockets.com/rookie161 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie Episode 161.
0:08.4	Oh, how are you going to get loans if you don't have a W2?
0:10.5	You're never going to be able to buy anything.
0:12.2	And I feel like that's a huge myth and just not true.
0:15.3	Yes, you have to sacrifice a little bit.
0:17.6	Maybe some points.
0:19.0	Maybe higher interest rate.
0:20.5	But am I going to let that completely stop me?
0:23.4	No.
0:23.8	My name is Ashley Kair and I have a story.
0:32.0	Today I am actually in Seattle at the Keaton Daenerd office.
0:38.2	So if anybody is looking to invest in Seattle, highly recommend checking them out.
0:42.4	Though this is not a paid advertisement, I'm just using their office for free to record
0:47.2	a podcast in playing with the cool things they have in the office.
0:51.0	So if you guys aren't watching the sun, you can.
0:53.0	And apparently they have medieval.
0:55.8	Yeah, Ashley's holding the story that looks like it's from like Game of Thrones or something
1:01.0	right now.
1:02.0	So I'm very nervous for all the people in that office with you.
1:04.8	I am.
1:05.8	So I am here with both Tony Robinson, Tony, you have any weapons in your office.
1:14.1	The only weapon I've got is I don't know.
	...

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