This is the second episode of The Dangerous Woman Interview Series and it's all about building generational wealth. Generational wealth is homes, businesses, or savings—that are handed down from one generation to the next.
This can give the younger generation a financial boost, helping them to pursue opportunities without starting from zero. Lack of generational wealth can widen existing socio-economic gaps, because not everyone has the same starting point.
It's time for Dangerous Women to close the generational wealth gap. My guest Sarah Miskelly from HYLEE Capital is here to share how we can earn passive income through real estate investing without being a landlord.
Episode Highlights:
- [01:49] Sarah has been involved in real estate since she was a kid. Her dad had rental properties, and she spent a lot of time growing up working on those properties.
- [02:15] After college she became involved in marketing. Then she moved into real estate sales. She was not only a top salesperson, but she built her own real estate portfolio in Canada, the US, and Belize.
- [03:09] She was driven and making a lot of money, but the lifestyle wasn't the type of lifestyle she wanted.
- [03:29] She went 10x into real estate investing and now she's involved in multifamily real estate investing.
- [03:45] Sarah breaks down what it was like to be successful in a male-dominated industry.
- [04:30] Commercial real estate is very male oriented and an old boys club. This has made Sarah even more passionate about getting women involved in commercial real estate investing.
- [05:13] Sarah shares the biggest misconception when it comes to real estate investing. Lack of confidence and not feeling like you have the knowledge or the ability is really the biggest roadblock.
- [06:00] Sarah breaks down how to get started as a new investor in real estate. First thing we need to know is your numbers. Then we need to pick a strategy.
- [08:02] HYLEE Capital works with women of high net worth. What if we don't have as much money? There are definitely ways to get into real estate with smaller amounts of capital. It's important to get into the market at some level.
- [08:52] You can find cash flow positive investments in less expensive states.
- [10:32] Passive income is so beneficial. There's a lot of innovative models where things are more collaborative.
- [12:10] Working with Sarah can be simple. Apartment buildings have a lot of growth. You can invest capital and invest in deals as an equity partner. You'll get cash flow and a share of profits.
- [13:42] Start allocating a portion of your income for investing. Look at your options and the available deals that align with your goals. What you're looking for will expand. You can also join Sarah's investment community. Education is really critical.
- [15:15] If you're ready to invest, hop on a one-on-one call with Sarah's group.
- [16:21] Joining the investment community is the best way to get your foot in the door and start having deals sent to you.
- [17:30] Sarah talks about The Passive Real Estate Summit that she is hosting and you can sign up for.
- [18:48] Sarah's future dreams include a 50 million dollar net worth and donating a million dollars to charity.
- [19:49] Advice includes believing in yourself and having the confidence to do it!
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