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

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

Publish Date: 2020/10/15
logo of podcast BiggerPockets Real Estate Podcast

BiggerPockets Real Estate Podcast

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Shownotes Transcript

    <p>Ever wonder how your family would manage if you or your spouse lost your job? <strong>Emma Powell </strong>faced that reality head-on. She knew she needed "full-time income" while continuing to spend time with her family... and she knew<strong> real estate investing</strong> would be the vehicle to get her there.</p><p>Today Emma shares her journey from part-time photographer to multifamily dealmaker – how she got in the game by joining a REIA and immediately <strong>loaning money</strong> to an experienced investor (we discuss the right and wrong way to do this); her #1 piece of advice when <strong>meeting with a potential mentor</strong>; and her foray into the world of <strong>lease option </strong>("rent to own") deals.</p><p>Plus – Emma shares her perspective on how to <strong>choose a niche</strong> that suits your strengths (<strong>wholesaling</strong> wasn't for her; <strong>syndication </strong>and bigger <strong>commercial deals </strong>were a better fit).</p><p>This is an inspiring story of someone who experienced a financial wake-up call, and went <strong>from total rookie to syndicator</strong> in just a few years... all while homeschooling 6 kids. Enjoy this one, and we'll see you again on Sunday!</p><p>In This Episode We Cover:</p><ul>
  • 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

    Check the full show notes here: https://www.biggerpockets.com/show408

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