185: 11 Doors and Returning to Real Estate After an 8-Year Hiatus

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 25 May 2022

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest, Alicia Marks, started real estate investing unintentionally in 2011 when she became an accidental landlord. It wasn’t until eight years later, in late 2019, that she decided to intentionally invest in hopes of reaching her financial goals faster. Since then she has closed on five doors, has done one live in flip, and has six more under contract. Besides being a part-time investor, Alicia is also the BiggerPockets Community Manager. This direct connection to the BiggerPockets community has allowed Alicia to get more exposure to the world of real estate investing while also knowing first-hand how useful all the BiggerPockets tools can be. Alicia even found her partner through BiggerPockets! They started with only one deal to test the waters and had a very clear exit strategy in case it didn’t work out. Thankfully they discovered the partnership worked well for both of them, but if it hadn’t, Alicia would have been perfectly fine because of the exit strategy she put in place. After some major life changes, Alicia thought she’d pursue a dental career until she realized the people in the dental field were trying to get out and pursue real estate. It was then that she decided instead of accruing massive debt in hopes of reaching financial freedom, she’d return to real estate after an eight-year hiatus and begin her financial freedom journey right away! In This Episode We Cover The importance of finding a solution-based property manager and how to maintain long-distance communication with them How to find, manage, and build a lasting, beneficial relationship with contractors Exit strategies and why it’s important to have them in place How to plan your exit strategies and how to know when it’s time to implement them The importance of structuring your partnership in a way that aligns with the strengths of you and your partner How to use private lender meetups to your full advantage and finding the perfect private money lender for you And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Youtube Channel Real Estate Rookie Podcast Real Estate Rookie Facebook Group Real Estate Rookie Bootcamp BiggerPockets Forums On The Market Podcast James Deinard's Instagram Dave Meyers' Instagram On The Market YouTube Channel Is College Worth the Cost? This 30,000 Variable Study Says “Sometimes…” How to Retire Early With Real Estate & Do What Matters More with Chad Carson Ouch! Brandon & David’s 10 Biggest Investing Mistakes (& How to Avoid Them) Asana Connect with Alicia: Alicia's BiggerPockets Profile Alicia's Instagram Check out the full show notes here: https://biggerpocket.com/blog/rookie-185 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Real Estate Rookie Episode 185.
0:04.9	I could spend $300,000 to go to school or I can work your exit strategy today from a beach.
0:11.5	Let me decide, you know. So I think it was then when I fully committed to initially it was going
0:16.9	to be some passive income to help while I was in dental school, but then it just became my exit
0:22.6	strategy in general. So what I did was I took that exit strategy and just moved it to being my
0:28.4	primary focus instead. My name is Ashley Care and I'm here with my co-host Tony Robinson.
0:34.3	And welcome to the Real Estate Rookie podcast where every week, twice a week, we give you the
0:38.5	inspiration, information, and education you need to get started as a real estate investor.
0:43.5	Ashley Care, what is going on? What's new? Well, I have two exciting things to share with you
0:49.4	as I'm sure you know from bigger packets, but before we get into that, it is snowing outside.
0:54.9	Today is what April 19th and it is a snowstorm outside right now. So if you wanted to go ahead and
1:04.2	recap how beautiful the weather is in sunny California, now is your chance. But what's funny,
1:09.6	Ashley, I'm actually going to be in your neck of the woods in like four days. I guess I can
1:13.5	experience this terrible New York weather firsthand. Yeah, and I actually found out my new car
1:19.5	has made it too buffalo. Has it made it to the dealership yet? But I'm hoping that it makes it
1:24.4	here in time to come visit you. So I can roadtrip with it. You can roadtrip it there. You can see
1:29.7	when you go to New York. Yeah, every perfect. And you can drive me around. Yeah, and then if not,
1:35.0	I'll just have my one of my personal chauffeurs that have been driving around for the last month,
1:40.9	take me. Take your knee to go. Yeah. So there's two call outs I want to do real quick on bigger
1:47.9	pockets is first the new podcast that has come out. It is called on the market is one of my great
1:55.1	friends and my recent joint venture partner on a flip of James Danard as one of the host Dave Myers
2:01.6	who we had on a couple episodes. So I highly recommend you guys go check it out. They also have
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.