In this episode of the High Return Real Estate Show, Jeff Schechter interviews Nicole Hoss.
Questions Asked:
- What is your background and what inspired you to get into real estate?
- What steps did you take to become debt free?
- How did you find your first deal?
- What did you do after your first deal?
- What are some of the difficulties you encountered?
- What are your next moves?
Key Lessons Learned:
Debt
- Prioritize your debts and work your way down.
- Being a successful real estate investor means having your financial house in order.
- You don’t have to be completely debt free to get started in real estate.
Real Estate
- Real estate can be the answer to the question “what do you need to become financially independent.
- Real estate is something you can do from home.
- Nicole used a HELOC to finance her first property.
- Listening to the Bigger Pockets podcast is how Nicole originally learned about real estate investing in Indianapolis.
- Nicole spent six months researching the area before diving in and buying a property.
- Many people over analyze, at some point, you have to jump in and learn by doing.
- Start small with something easy to get into like a C class property. A good management team can make C class properties very successful.
- Many people catch the “rent bug” once they get their first payments.
- Tenanted units come with their own set of obstacles, a pre-rehab property is an opportunity to get a strong equity position.
- A good management company can make things very easy when it comes to dealing with tenants.
- You don’t have to stick with one area, you can expand after you get comfortable and take what you learned to other areas.
- Take what you know and put it to use.
- Real estate investing allows you to take your financial future into your own hands.
Resources Mentioned
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