Here’s another episode of the Life and Listings Podcast, we welcome Stephanie, a former lawyer turned full-time real estate investor and landlord. Stephanie shares her inspiring journey from practicing law for a decade to achieving financial independence through creative real estate investments, focusing on long-term and midterm rentals. She dives into the importance of leveraging systems and processes to scale her business while maintaining flexibility and a stress-free lifestyle. She emphasizes the significance of creating and implementing standard operating procedures (SOPs), which allows her to delegate tasks efficiently and focus on growth.
This episode is packed with valuable insights on how to streamline operations and achieve financial freedom. Make sure to tune in and listen until the end of the episode.
“Don't eat the whole elephant at once. Just take one bite. One bite will get you started. And then also see if you can repeat the process, following your instructions. That's a really good check. Is something missing? So I like to start with just a little bit of mental organization, what am I trying to delegate? And what does it look like? That's even before you get to the hiring process. You need to have something to give them. You can't ask them to come in and listen to you ramble once and expect them to be able to perform. That's Oh my god, gotta check your own expectations.”- Stephanie
Let’s delve into:
The Importance of Systems and Processes: Stephanie emphasizes how implementing standard operating procedures (SOPs) and leveraging systems and processes has allowed her to manage and scale her real estate business efficiently.
Delegation for Efficiency and Flexibility: Stephanie shares how hiring a virtual assistant to handle repetitive administrative tasks, like managing water bills and bookkeeping, has been crucial in freeing up her time.
The Role of Her Legal Background in Real Estate: Stephanie discusses how her experience as a lawyer has been beneficial in navigating contracts, understanding transactions, and building credibility in her real estate endeavors.
Resourcefulness as a Superpower: Stephanie identifies resourcefulness as her superpower, which has enabled her to creatively solve problems and achieve her goals. This trait has been instrumental in her success, particularly in finding innovative ways to invest in real estate and build financial independence.
About Stephanie Cabral:
Stephanie Cabral is a full-time buy-and-hold real estate investor, having transitioned from working as an attorney for 10 years.
She has built a portfolio of 19.5 units, including 4 furnished Mid term rentals, valued over $4m. She specializes in the BRRRR strategy and has done over $1m in renovation. She has used multiple forms of financing, including the infamous 203k loan, private lenders, hard money, conventional and commercial financing, a Reverse 1031, and secured historic preservation grants.
Stephanie began buying rentals while working as an underemployed lawyer and as a commercial agent. In an effort to juggle it all, Stephanie prioritized impeccable operations, determining best practices and then optimizing her systems so she could produce repeatable, predictable results using less of her time. She considers her greatest accomplishment that she serves her tenants in a way that meets her high standards, she has maintained control and transparency in her portfolio, and achieved time freedom despite humble beginnings all through leveraging systems, virtual assistants, and technology. Now, she's able to focus on her next chapter, including a new construction project, helping others streamline their operations with The Lean Landlord, and potential business ventures.
You may have seen Stephanie as a speaker at the Bigger Pockets 2019 conference, as speaker of the month for CTREIA in October, 2023, or on various podcasts, including Bigger Pockets Show #360, the InvestHer, FurnishedFinder, and CTREIA, to name just a few.
Connect with Stephanie:
Website: www.theleanlandlord.com
Facebook: https://www.facebook.com/stephanie.cabral.33
Instagram: https://www.instagram.com/stephaniesunrise
Connect with Jennifer Staats:
Website: staatssolutions.com
Staats Solution Instagram: https://www.instagram.com/staatssolutions/
Jennifer Staats Instagram: https://www.instagram.com/jennifertherealtor