Posts Tagged ‘flipswhoflip’
Building intentional partnerships
I was hesitant on putting my past projects up here because I felt like what I’ve done in the past doesn’t align with what I’m looking to do with Legacy Collective going forward- but this is how my Legacy started so now I feel inclined to share it because it’s part of my journey. The point of me sharing this is so you can gain an understanding of my track record. Most properties that were purchased required building trust with a potential partner or investor. Going forward requires me to do much of the same- but I look to be more intentional on who I partner with.
Here’s a few highlights of deals I’ve closed over the years:
Track record
Pay attention to the numbers, which are circled in red. I share this because getting into real estate doesn’t mean you need to have deep pockets. Most developers aren’t using their own money to fund their projects, and even if they are, you need to know that it isn’t the only way. There are many things I love about real estate- the potential to impact lives with what is created, the ability to give me time to be with my family and being able to use it as a vehicle to build generational wealth- which for a lot of people, feels so far removed and not even a possible. But along with this, comes the possibility of creating financial freedom to spend time with those who matter most and do the things that make our lives more meaningful- AND you don’t need to be a landlord or rehabber to achieve any of this. People keep their careers and do all this without crunching numbers, managing contractors, etc.
– Have you thought of investing in real estate as an additional stream of income but don’t know how to get started? If you haven’t, have you thought of building an additional revenue stream but can’t because your time is committed to your job and you can’t possibly take on another thing to do?
– Would you call yourself a socially conscious consumer? Are you mindful about the brands you buy because their goals and mission align with yours? If so, have you thought that you could also be a socially conscious investor? That money that you invest (whether it’s in real estate, an investment fund or some other vehicle) can support socially conscious businesses, while you receive a return on your money?
I’d love to hear from you even if none of this relates to you or is on your radar. Don’t hesitate to reach out if you have questions or just want to connect!
Home Sweet Home!
So.. big news for my fam. After renting for 7 years, we finally bought a house! We live in an area that has very little inventory for the price range we wanted to be in and have been looking for over a year. It was seriously difficult for me to come to terms that we may actually have to be like everyone else, buy a house and pay retail!
Well.. thankfully, that didn’t happen. After getting outbid several times, shedding tears and thinking of creative ways to finance our purchase so that our offer would get accepted, we bought a house that was not listed and no bidding war. We even put in an offer on a house down the street from where we live, that was accepted. And literally less than 24 hours later, I had to back out because it didn’t feel right. It’s quite a story, but one I hope my girls will appreciate when they’re older.
To get an idea of the scope of what I was working with, the house had been vacant for over 10 years, probably closer to 15. Investors and realtors were constantly sending him letters and calling him to sell the house to him. So I had PLENTY of competition in the sense that there were a lot of people willing to make him offers. But I had ZERO competition at the end of the day because he got to know me, know what I was about, and learn that I was going to treat him with compassion and be understanding. I wanted to work with him as his agent or as a buyer, because I felt that there would be agents and investors out there taking advantage of his situation. This deal almost fell apart, weeks after we had already been talking.
I’ll post a video on the story behind it and document my journey into making this house our home.