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35. Neighborhood Know-How: Natasha's Real Estate Investment Tips
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What does it mean to know the neighborhood you invest in? Natasha is now a stay-at-home mom with a background in tech. Listening to this very podcast nudged her into learning more about real estate investing through Palak and Niti's Open Spaces program!
Since joining the Open Spaces Women program in July 2023, Natasha has acquired two rental properties in Philadelphia. Her success story is quite remarkable!
Her first deal was a wholesale property purchased for $62,500 that she has renovated. The estimated after-repair value is $247,000, giving her a large profit. She now has her first property rented and is renovating her second, applying the lessons from her first successful deal.
In today's episode, she walks us through her process of analyzing neighborhoods on Redfin so that she gets a proper feel not just for the property but the surrounding area, too.
There is also great advice on how to go about finding team members like her agent and GC and submitting offers.
Plus, what it looks like applying a lot of the SOPs that the Open Spaces program provides you with to help you on your way to your own financial and time freedom. Please join us.
"Know your neighborhood. Spend the hours to know your neighborhood. I know it's exciting to write offers and get the offer under contract. But you also want to know when there's a good deal." ~ Natasha
In This Episode:
- 01:04 How Natasha transitioned from tech to real estate
- 03:48 Developing the right mindset for real estate investing
- 09:56 How to select your agent (understanding the real estate process)
- 13:09 How to find the right lender and agent
- 18:40 Scripts that give you a starting point for negotiating with contractors
- 21:42 Real estate investing strategies and property analysis for certain zip codes
- 33:47 How to build your relationship with your agent and GC
- 40:20 Unpacking Natasha's rehab budget and closing costs
- 45:04 'If you don't know, ask'
- 54:10 The importance of getting to know your neighborhood
Resources:
- Get a copy of Accelerate Your Real Estate - https://a.co/d/bdW6j7K
- Book a call - http://www.openspaceswomen.com/bookacall
- FREE 5-Day Real Estate Investor Accelerator
- Redfin - https://www.redfin.com/
- Zillow - https://www.zillow.com/
Connect with Palak and Niti
- Website: https://www.openspaceswomen.com/
- Instagram: https://www.instagram.com/openspaceswomen/
- Facebook: https://www.facebook.com/openspaceswomen
- Twitter: https://twitter.com/openspaceswomen
- LinkedIn: https://www.linkedin.com/company/openspacescapital/
- YouTube: https://youtube.com/@openspaces1251
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