In this special “hosts-only” episode of Built for This, Andrea and Alissa flip the mic on themselves to unpack a real-life investing experience that every investor can learn from. Alissa shares the story of her first duplex purchase—from the excitement of closing day to the unexpected reality of evictions, renovations, and property management missteps.
This episode is a masterclass in how to keep your cool, your systems tight, and your profits protected when things don’t go as planned.
🏡 Key Topics Covered
- The Deal Setup: How Alissa structured her first duplex purchase with a joint venture equity partner, including renovation reserves and a conservative underwriting strategy.
- The Eviction Curveball: What happened when a month-to-month tenant didn’t leave as expected—and why “peaceful transitions” often require formal action.
- Scope Creep Reality Check: How minor renovations can balloon into major projects, and how to set firm boundaries on time and budget.
- Property Management Pitfalls: Why even good property managers need management, and how missed oversight led to six months of unpaid rent.
- Recovering and Rebounding: How proactive follow-up, accountability, and a surprise back payment helped offset over-budget renovations.
- The CEO Mindset: Alissa’s hard-earned lesson on why “passive income” isn’t truly passive—it’s about systems, leadership, and consistent check-ins.
🔑 Lessons Learned
- Evictions aren’t personal—they’re business.
Sometimes being “serious” means starting the process to move things forward. - Budget creep is real.
Stick to your renovation plan unless upgrades meaningfully improve long-term value. - Manage your managers.
Even the best property managers need oversight. Review statements monthly, and meet consistently. - Systems save sanity.
Regular check-ins, clear expectations, and defined metrics keep your portfolio running like a business, not a hobby. - You’re the CEO.
Whether it’s your first duplex or your fiftieth, the responsibility—and the profit—ultimately rest with you.
🧭 Quote of the Episode
“There’s no such thing as passive income. You might not do the work yourself, but you still have to manage the people who do.” — Andrea Lane
🎧 Next Steps
Stay tuned for more “Real Lessons from the Road” episodes where Andrea and Alissa break down the wins, lessons, and surprises from their real estate journeys.
👉 Follow the show, leave a review, and share this episode with a fellow investor who needs a reminder to manage like a CEO!
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