408: Full-Time Income on a Part-Time Schedule with Emma Powell

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 15 October 2020

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever wonder how your family would manage if you or your spouse lost your job? Emma Powell faced that reality head-on. She knew she needed "full-time income" while continuing to spend time with her family... and she knew real estate investing would be the vehicle to get her there. Today Emma shares her journey from part-time photographer to multifamily dealmaker – how she got in the game by joining a REIA and immediately loaning money to an experienced investor (we discuss the right and wrong way to do this); her #1 piece of advice when meeting with a potential mentor; and her foray into the world of lease option ("rent to own") deals. Plus – Emma shares her perspective on how to choose a niche that suits your strengths (wholesaling wasn't for her; syndication and bigger commercial deals were a better fit). This is an inspiring story of someone who experienced a financial wake-up call, and went from total rookie to syndicator in just a few years... all while homeschooling 6 kids. Enjoy this one, and we'll see you again on Sunday! In This Episode We Cover: Emma's reaction to her husband being laid off from his tech job What a Real Estate Investor Association (REIA) Meeting is How she's found nearly all her deals by simply networking Due diligence when loaning money to an investor What lease options are What a "due on sale" clause is Closing a great deal after a seller was burned by wholesalers Her passive income goals for the future And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Podcast BiggerPockets Real Estate Investment Association The Real Estate Syndication Show 5 Hour School Week BiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron Amuchastegui BiggerPockets Blogs BiggerPockets Webinars Check the full show notes here: https://www.biggerpockets.com/show408 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast,
0:02.0	So 408.
0:04.0	She stands up and she says,
0:07.0	Hey everybody, this is Emma.
0:09.0	She has some money she'd like to lend.
0:11.0	Raise your hand if you have a project that needs some money.
0:14.1	And a couple people raised their hand and everybody was like, hey man, over here,
0:17.7	over here, do you need X amount of money? And he was like, yeah.
0:21.0	You're listening to Bigger Pockets Radio,
0:24.4	simplifying real estate for investors large and small.
0:28.2	If you're here looking to learn about real estate investing,
0:30.8	without all the height, you're in the right place. Stay tuned and be sure
0:35.2	to join the millions of others who have benefited from bigger pockets.com.
0:39.6	Your home for real estate investing online.
0:43.0	What's going on everyone? It's Brandon Turner,
0:45.0	host of the BiggerPockets podcast here
0:47.0	with another phenomenal show today.
0:49.0	With my co-host Mr David Green.
0:51.0	David, what's up man?
0:52.0	How's life? How's business treating you?
0:53.6	Business has been amazing actually. This is the best year I've ever had. We've helped more
0:58.1	people in the Bay Area in Sacramento be either buying in rental properties or
	...

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