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

Rich Dad, Poor Dad

Bigger Pockets podcast

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