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11 Doors and Returning to Real Estate After an 8-Year Hiatus
Description
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
Real Estate Rookie Youtube Channel
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