301: 12 Doors and a $4M Portfolio as a Real Estate Power Couple w/Zosia Madden

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 5 July 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Significant other not sharing your enthusiasm for real estate? Maybe you have dreams of buying your first property or going full-time with a real estate business, but your partner isn’t on board. You’re not alone! The truth is that investing in real estate is a huge decision, and couples aren’t always on the same page. Fortunately, there are ways to align your goals and build a profitable real estate business together. In this episode of the Real Estate Rookie podcast, we’re chatting with Zosia Madden. Today, Zosia and her husband Tyler operate two businesses—a successful construction company and a seven-figure real estate business with twelve rental properties. Despite their recent success, the couple faced many challenges before going all-in on real estate—including the question of whether Zosia should leave the stability of her W2 job. As you might expect, they didn’t arrive at this decision overnight. It took multiple conversations—filled with vision-casting, goal-setting, and strategizing—before Zosia was able to put in her two-week notice. If you and your significant other seem to be on two different wavelengths, you don’t want to miss this episode! Zosia, Ashley, and Tony cover some of the most important questions you’ll want to ask your partner on your journey toward financial freedom. They also discuss topics that many rookie investors struggle with—such as paying yourself, hiring fractional advisors, and the systems and processes that will help you scale your real estate business! In This Episode We Cover Questions all couples should ask to help align their long-term goals The three stages of spouse involvement in real estate investing How to transition from a stable W2 job to a full-time real estate investor Fractional advisors and how hiring them can change the trajectory of your business When to take a salary from your real estate business (and when to reinvest instead!) Systems and processes you NEED to scale your business And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple Building and Scaling a Massive Real Estate Business Real Estate Rookie 300 with Rachel Richards Real Estate Rookie 55 with Tyler Madden Real Estate Rookie 173 with Tyler Madden Books Mentioned in this Episode: The ONE Thing by Gary Keller with Jay Papasan Connect with The Maddens: Zosia's BiggerPockets Profile Zosia’s Instagram Tyler’s Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-301 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie Episode 301.
0:05.0	Until recently, quit my last job right around middle of January full-time,
0:10.0	and so this has been a new experience for the both of us, but it's been really exciting.
0:14.5	I think when you immediately tell your spouse or your partner or your kids to do something,
0:20.0	their immediate response is, no.
0:22.5	I don't know why your friend tells you, absolutely, I want to go do that thing.
0:27.0	Your spouse tells you it's, I'm not sure about that.
0:30.0	There's definitely got to be a catch, and so I think that's what spouses that are having trouble.
0:34.0	I think be patient and be very clear and concise as to why you're sharing the information
0:39.0	and what you want out of it, and I think your spouse can understand a lot more.
0:43.0	My name is Ashley Care, and I am here with Tony Robinson.
0:47.0	And welcome to the Real Estate Rookie Podcast, where every week, twice a week,
0:50.0	we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:55.0	And we're here, we're in person, in Denver.
0:58.0	And Ashley, we don't get to do this enough.
1:00.0	We couldn't be physically further away from each other when we were actually recording the podcast,
1:06.0	because I'm in California, she's in New York.
1:08.0	I mean, is there anything above New York?
1:10.0	I don't know my geography.
1:11.0	Yeah, just Canada, right? It's Canada, that's next, right?
1:14.0	Yeah, we literally can be further away from each other, so it's always cool we can get together in person.
1:18.0	And we've got a really cool episode for you guys today.
	...

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