In this interview, I talk with Vanessa Davidson from Knox Financial who showed up at a cigar and real estate event I was running. I was completely shocked to meet her in person because I had scheduled already an Alchemist Nation Podcast with her. I wanted to know how Vanessa ended up at my real estate event. She says that they’re currently running ads on Bigger Pockets and they wanted to participate, meet some folks who may have heard about them, introduce herself in person, then connect with other investors, professionals in the Rhode Island area to get feedback from their product/platform and secondly to get some fresh air and meet some new faces.
To listen to Vanessa Davidson’s Alchemist Nation Real Estate Podcast on Anchor: #77 Alchemist Nation Real Estate Podcast – Vanessa Davidson from Knox Financial.
I ask Vanessa how has networking at my real estate event affected her business. She says that it has been interesting and for the most part, they are all making do, utilizing zoom as we are now with her and going back to older sales tactics, hitting the phones with cold calling.
I further ask Vanessa what is it all about Knox Financial that made her feel it is time to make this change. She says that she has been working in the non-profit sector for 3 – 4 years and she was working out of Quincy Massachusetts, Covid-19 hit and in her hearts of hearts, she knew that she wanted to be part of bringing something fresh and new to RhodeIsland in the real estate vortex. She then started looking for opportunities that would keep her closer to home, so she came across Knox and fell in love with the concept which means for a Knox Client, there are high possibilities of return.
I wanted to know what Knox does because according to me, it seems more like a fintech. She says that they do the same thing for two sets of client profiles. So for their homeowners, they help them turn properties that they’re moving out of into completely rental properties and they become passive investment property owners and for investors, they help in building the portfolios faster by removing the burdens associated with becoming a landlord or being a landlord continuing with that narrative of passive ownership where they take care of everything.
I also wanted to know what makes Knox different from other property management companies. She says that they quite a few differences and they’re a platform, so they have created a customer-centric platform that brings everything together that is needed to run an investment property. So from insurance, tenant legal management, tenant sourcing, financing, refinancing, everything you think of, they take care of it. They do it with a team of experts from the product department, marketing department, rental team, expansion team, sales department who were experts in their niches prior to coming onto the platform. They provide a free property analysis to anyone who is interested to see how their investment is likely to perform and make sure that the numbers make sense based on that individual financial goals. They also onboard units or homes to the platform which is basically a simple process and takes care of the units once they have been onboarded.
Vanessa offers 3 pieces of advice for a 20-year-old investor looking on picking up his/her first property investment to build a fortune.
1) Call Knox Financial
2) Hold your property, Don’t flip it
3) Look at opportunities in Rhode Island, it is a great time to invest, interest rates are low, cost of entry significantly lower than in other sister states.
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