390: 7 Figures from ONE Deal with Leka Devatha

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 July 2020

⏱️ 94 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

From fashion design work in India, to a corporate career with Nordstrom... to leaving that career to flip 40+ houses in 6 years – all in one of the hottest markets on the planet! Seattle investor Leka Devatha has quite a story to tell, and a lot of hard-won wisdom too! From her 6 tips for finding and keeping great contractors, to the exact criteria she uses when looking for a flip opportunity, Leka spills the beans and outlines a framework you can apply whether you choose to flip, BRRRR, wholesale, or buy and hold. We cover a crucial tax tip for anyone hiring a contractor, ever. Leka shares an unexpected silver lining brought on by the pandemic. And your mind will be blown when she tells how a "cosmetic" flip opportunity morphed into 3-year odyssey and wound up rewarding her with a 7-figure (yes, 7-figure) payday. Give Leka (pronounced "LAY-kuh") a follow on Instagram and let her know if you appreciate this episode... and make sure you subscribe to the show in your favorite podcast app, so you won't miss the next one. In This Episode We Cover: Flipping 40 homes in 6 years A "cosmetic flip" that turned into a 7-figure (!) profit through the magic of subdivision Why you should get to know the land use planner in your city Leka's system for finding and retaining great contractors How to start a real estate meetup Why virtual networking amid COVID-19 is more efficient Why she pays her broker a commission even if she keeps a house as a rental Leka's criteria for a great flip opportunity What W-9s are and why it's so important to get them signed up front And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Podcast Jason Drees Real Estate at Work (Seattle Meetup) Redfin Zillow Realtor.com Caleb Backholm's Insurance BiggerPockets Podcast 388: The 7-Step “Playbook” for Scaling Your Real Estate Business With AJ Osborne Check the full show notes here: https://www.biggerpockets.com/show390 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 the BiggerPockets Podcast Show 390.
0:04.0	Try to find solutions to all your problems.
0:07.0	And if you can do that, then it's achievable by anybody.
0:10.0	Right? There's a lot of homes, small homes with on large lots. So they're out there and those
0:16.8	sellers may want to sell because they just don't want to deal with it. So it's
0:20.9	totally achievable. As long as you just have the grit to stay in it long term.
0:25.8	You're listening to bigger pockets radio. Simplifying real estate for investors large and
0:31.6	small. If you're here looking to learn about real estate
0:34.5	investing without all the height, you're in the right place. Stay tuned and be
0:39.5	sure to join the millions of others who have benefited from biggerockets.com.
0:44.0	Your home for real estate investing online.
0:47.0	What's going on everyone?
0:48.0	It's Brandy Turner, hosted the BigerPockets podcast here with my co-host, Mr. David Green.
0:52.0	What's up David Green? How you doing man?
0:54.0	I'm doing absolutely fantastic. Business is going good. People are buying houses.
0:58.2	People are refinancing rates are good. Today's guest. Wow. This is this was just like a mind-blowing episode from several different levels. I think we've got a superstar here and everyone's going to love this. I think we do as well. Laker is a friend of mine.
1:13.5	Yeah, you guys are going to hear a story, but she has a phenomenal story and she's really good at
1:18.0	explaining like how to. Like if you're listening to this and whether you're a new
1:21.2	investor you've been doing this for 20 years like you're
1:23.7	gonna learn stuff today from Laker that's just like do this here's my six steps for this
1:27.0	here's how I do this here's how I network here's how I find contractors here's
1:30.0	how I turned a cosmetic flip into a seven figure like over a million dollar profit
	...

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.