In this interview with Dannielle Lee a doctor that turned into a real estate investor that I met at Train the trainer. I ask her where is she at when it comes to real estate. She tells me that she met a real estate investor at train the trainer and later during the warrior camp in May last year and they have been having weekly calls. She says that she found a rockstar real estate agent and a real estate investor herself who started teaching her real estate and later even sold a property for her that she didn’t even see.
To listen to Dannielle Lee’s Alchemist Insight Podcast: #26 Alchemist Insights with Dannielle Lee – Doctor Turned Real Estate Investor
Dannielle asks me about when I have a strategic deal with the seller and there’s a broker in between us. How does it play out for me? Do I have to contact the seller directly or all the communication is done through the broker? I reply that she’s an intelligent person that has attended train the trainer and she has to study body language and I guess she’s the person that will be having a conversation with the seller. I further state that I love all agents but they’re not created equal.
Dannielle continues to ask me about the terms of the hard money as far as to cost. How much is being given to cost typically in percentage? I reply that the lenders want to see an LTV in between 65% – 70% since all my lenders are getting tight with a 60% loan to value after repair they want to see 60% minus renovations. This because they’re in a place where they want to get their money back.
She further asks if I’m pretty local to the market out there. I tell her of course, I even walk to my properties. She also asks if I’m self managing or if I have integrated vertically into the system or outsourcing. I tell her if you get bigger you self manage and in the beginning, you should really have a property manager.
Dannielle offers advice to younger women who want to be successful or starting a business or wanting to invest in real estate.
1) – Don’t be afraid to get to people who will hold you accountable and will see you bigger than you probably see yourself.
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