My Biggest Mistake in Real Estate

If you have been following along lately, I am continuing to tell stories of my most fantastic Real Estate fails in celebration of Ken Corisini’s newly released book (Check out Chapter 17, it’s me!): “Profit Like The Pros”.

As I mentioned in my last post, while this book is all about our most profitable deals and biggest wins, I think there is a lot to learn from our failures as a community. I love to share mine widely, not only to keep my ego in check, but also to be transparent as a fellow investor and mentor in the field.

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My latest Flop in Real Estate Investing

Hi Friends!

I wanted to write this post in honor of the upcoming release of “Profit Like The Pros”, a collection of stories from the Best Deal Ever Bigger Pockets Podcast with Ken Corsini, from Flip or Flop Atlanta. If you are not following me on Instagram, then you may have missed that they surprised me by putting my face on the cover! Ah-mazing!

I’ve started reading it and I have to say, I feel so inspired by the first few case studies, I highly recommend it if you are looking for your next inspiring Real Estate book.

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And now, for something different in Real Estate!

For as long as I’ve been in Real Estate, I've resisted becoming a Real Estate Agent.

My reasoning was:

  1. I bought out of state (well... except 2014, 2019, 2020 -- this year I could have gotten a 13K reimbursement if I had been licensed.)

  2. I didn't like the hours (oh, but Airbnb property management is just as on call, possibly worse)

  3. So many people do Real Estate in a cheesy way and I didn't want to feel like one of the herd (ok that one is valid).

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2019 Homes Performance - Earnings & Expenses

Why do I share these?

I share in an effort to show transparency on Real Estate & Airbnb Investments. I often see investors brag about all that can be made, which is substantial even in less desired locations like some of my homes are in, and yet they leave out the high expenses required to run such a business.

What I appreciate is that these 6 properties (3 with partial ownership), allow me to be Financially Independent, which I define as earning more from my assets than I spend to live. Of course, this is partially because I live frugally. In 2019, I personally earned $40,956 in profits from the homes, up $4,000 from the previous year.

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Has the Coronavirus affected my Net Worth? Let's find out!

hope this message finds you well. At least cozy at home, safe, and fed. I know personally that the time in Quarantine has been a mixed bag. With a lot more space to learn, reflect and try new things, all while balancing some boredom, sameness and depressed or melancholic moments.

I am incredibly grateful to have homes that will continue to pay for my frugal lifestyle, even rented on a less profitable month to month basis. With my work tasks grinding to nearly a complete halt, I am realizing more and more how much of a responsibility it is to go inside to find (or create!) my own happiness, fulfillment, inspiration and drive. I will admit that I have varying degrees of success at this.

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Q&A with the Authors of the FI book: The Cash Machine

In his email he said, “To the best of my knowledge, it's the first book of its kind, a novel that gives its readers a solid grounding in financial literacy. The Cash Machine teaches hundreds of financial lessons, all taught through a love story.” How could I say no to that? I’m a finance geek and a hopeless romantic, bring it on!

I loved it so much that I wanted to share it all with you. I decided to ask David and Chana if they could share a bit more about the creation of this novel with us today.

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Bookkeeping Software made for your Bnb is here!

I want to let you in on a little secret. Behind the scenes I have been working with Noah Weitzman, on a board with a lot of other great minds in the Bnb industry to bring to you a much needed service: an accounting/bookkeeping software specifically for short term rental owners. This software will save you hours and headaches every month by making accounting and bookkeeping faster and simpler while immediately giving you important metrics to help you manage and grow your business. Stick around because I’ve included an offer below to allow to become a Beta user for free!

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5 Apps to Help You Save Up for Your Next Airbnb Investment

Hi Everyone,

My apologies that it has been awhile. My aim is to publish every two weeks but, unfortunately my Niece passed away in early Feb and I have been giving myself more space away from work to grieve. It has been challenging and my energy levels have been unpredictable. I have a lot of love and support in my community which has helped, I just thought I should let you know where I am at.

Thank you for understanding. In the meantime I have had some help from a friend to bring these resources below to you. I am hopeful that I will be on my normal schedule soon enough.

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January Quarter-ish Review - Numbers & Investments to come

Hello Friends, 

Welcome to my Quarter-ish report. I think if I was truly official I might have tallied things up Dec 31st, but who is working during the holidays? Not me!

As you may have noticed, things are a little informal around here, thanks for giving me the space to share in the best way that I can. 

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New Offering! Get Financially Fit for 2020

In November, I was feeling inspired and newly invigorated to optimize my finances after beta reading the Choose FI book before it’s launch. That FIRE’d up energy led to me posting the above post on my Facebook wall. 

That post snowballed into sharing resources, then at the recommendation of some friends, putting together an “Optimizing Your Day to Day” event, then creating an on-going educational meetup group called Finances & Friends and finally, testing out a new one on one FI Fitness call with clients and friends. Now I want to bring that special offering to you!

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How Did My Homes Perform? Annual Review!

Hello friends,

As we are nearing the end of the year, the reality of the impending need to get all my numbers crunched is starting to set in. Yay spreadsheets!

In March or April when I finally had all of last years numbers together, I had the idea to share them with you but then somehow it got pushed aside for one more interesting idea or another. Good news! I have them here for you today.

My aim in sharing the real life numbers with you is to a show a true snapshot of what you can expect from owning Airbnb rentals. At the end of the day, I am eternally grateful for the $36,840 of profit I was able to generate off of just 6 homes. Yet, when I step back and look at the numbers, considering all the hard work and time put in, it looks low to me and not an impressive, slam dunk of what some expect bnbs to be.

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Guest Post: From -$100K to a Half Million+ Net Worth in 4 years

I’m excited to share this post with you today because it comes with some valuable freebies! I e-met Julie from Millennial Boss, a popular personal finance blog, when she and Gwen from Fiery Millennials, interviewed me for their joint podcast: Fire Drill.

*One thing I learned about myself in writing this paragraph is that I don’t know how to spell Millennial #thankgodforspellcheck

Be sure to read all the way to the end so that you can sign up for her free e-books. I definitely plan on reading the one on monetizing a blog…and maybe encouraging my team to do so as well. What I know for sure is that learning never stops and even one simple idea learned in passing, can pay in dividends!

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Come work with me, I'm Hiring!

Today is an exciting day because I am hiring! People ask me all the time for mentorship opportunities or a position within my company and yet I usually do not have anything to offer. Today I do!

 

I am looking for a person to replace my current Operations Manager as she is moving on to build her Social Media Consulting business — myself and the team are wishing her all the best! 

 

This would be ideal for someone in the Boulder / Denver area, I will also consider St. Louis / University City as we have 5 properties there. 

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The ART of Being Human in Prison

I spent the last three days on a Prison vacation. 



A group of 5 of us, working with Authentic Relating International, road tripped down to Pueblo, Colorado to facilitate a 2 day workshop at La Vista Women’s Correctional Facility. Our aim was to teach offenders how to more deeply connect with themselves and others to hopefully have greater ease with reentry or their time inside. It would be my first time volunteering in ARI’s Prison program and as the time drew near, I was sitting with a mix of fear, curiosity and excitement.

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Revealing the numbers: Tracking my Net Worth

As you may have noticed, I recently added Tracking Your Net Worth as part of my “Take Action” suggestions at the bottom of each blog and I imagine some of you might be thinking, “Why is this important?”.


Well in addition to being an Entrepreneur and Real Estate Investor, I wear the important badge of FIRE enthusiast. This means, that I have “money goals baby!” and I want to know how close I am to achieving them. Plus, I believe what you focus on grows, so why don’t we all put a little more attention on those sexy bank accounts?

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Kickfurther! A New Stream of Investing that Supports Small Businesses

So we’ve all heard of Kickstarter right? If you’ve been living under a rock, their website describes them as: “Kickstarter is a funding platform for creative projects. Everything from films, games, and music to art, design, and technology. Kickstarter is full of ambitious, innovative, and imaginative ideas that are brought to life through the direct support of others.

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My takeaways from Burning Man, Including How to Make Everything Play.

I’m back from a week (or 9 days) in the dust! Although Burning Man has a reputation of being all parties and art, it is also a city with many different workshops, events, and volunteer opportunities to fill up your days. Burning Man can also be described as a third party or entity like a trickster house elf, creating magical circumstances and serendipity, while also destroying your plans and bringing up your inner struggles. Ah, what a wonderful place to work on ourselves!

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Zero Waste Living for Early Retirement

Two days ago I was listening to a Podcast interview with Bea Johnson who wrote Zero Waste Home and travels all over the world teaching about the Zero Waste movement. In the episode, she said that when her family decided to switch over to a Zero Waste lifestyle, they were surprised to find that their expenses dropped by 40%. That’s when the lightbulb went off in my head and I knew I had to share it with you all. 

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