Paige Capital Group // Invest with me
Summary
In this conversation, Trae Jacobs interviews Lisa Field Moore about her experience in real estate investing. Lisa shares her background in financial analysis and her transition into real estate. She discusses her experience with house hacking and her goals for the future.
Lisa also talks about the opportunities she sees in the market, including the potential for buying properties from retiring baby boomers. She highlights the importance of using a CRM and implementing marketing strategies to find deals. In this conversation, Lisa Field Moore shares insights and advice on real estate investing.
She emphasizes the importance of buying smaller homes and making sacrifices to get into the market. She also discusses short-term loans in multifamily properties and the considerations when buying a home in a changing market.
Lisa highlights the desire for new builds and fancy features, as well as the importance of considering space and storage needs. She also emphasizes the need to accurately account for utilities and expenses in cash flow calculations.
Lisa shares her experience with hiring a property manager and setting aside reserves for unexpected expenses. She finds inspiration in successful real estate investors and reflects on what she would do differently if she could go back to day one.
Finally, she emphasizes the value of networking and building relationships in the real estate industry.
Takeaways
House hacking can be a great way to offset living expenses and generate income from your property.
Building relationships with brokers and lenders can help you find off-market deals and access financing options.
Opportunities in the market include properties coming due with short-term balloons and retiring baby boomers looking to sell their real estate assets.
Using a CRM can help you stay organized and streamline your real estate investing activities.
Marketing strategies, such as targeted Facebook ads and networking with local businesses, can help you find potential sellers and off-market deals. Consider buying smaller homes and making sacrifices to get into the real estate market.
Short-term loans are common in multifamily properties, with many investors aiming to sell within three to five years.
When buying a home, consider the changing market and the potential for interest rates to impact your plans.
Many people desire new builds and fancy features, but it's important to consider your actual needs and financial situation.
When analyzing cash flow, accurately account for all expenses, including utilities and maintenance.
Hiring a property manager can be beneficial, allowing you to focus on other aspects of real estate investing.
Set aside reserves for unexpected expenses, considering the age of the property and the average lifespan of various components.
Find inspiration in successful real estate investors and learn from their strategies and experiences.
If given the chance, consider starting real estate investing earlier and prioritize networking and building relationships.
Networking and building relationships are crucial in the real estate industry, providing opportunities for learning, support, and collaboration.
