Manage episode 280662885 series 2509910
If you love the idea of breaking through six figures and you love the idea of earning that much at the same time through a side hustle, you won’t want to miss this conversation. Our guest this week on She Sells Radio is Kim Kesterke, a full-time mom, corporate employee, and real estate investor. She’s got over 15 years of experience managing her own portfolio and is passionate about helping you build a legacy of wealth. Today, she’s sharing how she does it and how you can too.
Kim has a robust background in both corporate and real estate investing spaces. Sales were her first job out of college, and shortly after that, she was looking to purchase a house. In 2006, the market was on fire, and in 2008, it crashed--she was underwater at 28. So, she had to pivot and find renters for her properties. Every year she added a few more properties, eventually building up enough passive income that she can do that and hold a full-time job.
Her mindset was based on failure not being an option. Being open to opportunity is key in this journey. Flexibility, now more than ever, is becoming necessary. For many, it’s time to start looking at options and going down that path. Having certainty and understanding what is available to you when you remove failure is powerful.
It’s important to know that sales is a rollercoaster. There will be good and bad days! The truth is, it’s about perseverance and having patience. Uncovering motivation will lead to a rewarding feeling.
Katie’s approach to success when starting something new and building recognition quickly was grounded in networking and introducing herself to clients. She started expanding by building relationships and getting introduced to other projects. Quarterly reviews allowed for her to identify other opportunities. Additionally, video is key. It helps build credibility and allows people to see who you are as a person. If you have no client base at all, start talking to people face to face via video!
Discomfort can sneak it’s way in when starting with video. Remember, it doesn’t have to be perfect. Get it out there! Keep at it, and eventually, you get used to getting visible. When you’re in front of a customer in person or over the phone, you’re not perfect. Why is video any different? People relate to individuals who aren’t perfect. Clients and prospects are real people too. There is a need for what you have, they just need to feel like their making a good decision.
Real estate can be a real cash flow. Katie went from being an accidental landlord to having an impressive landlord. For a woman looking to break into this industry, it starts with research and learning how to analyze the field. You make money on the purchase. Look for different houses in your price range on platforms like Zillow, but also consider consulting with REIA, Real Estate Investment Associations. There, you can talk through wholesalers--people who find good off-market deals. Work with investment-friendly agents for the best results!
Once you’ve started, it’s time to grow. Katie really liked the neighborhood her first property was in. She discovered that her area’s market was a good place to invest. She invested in duplex and triplex because with a conventional loan, one unit pays the mortgage, and the other is pure cashflow. By adding one or two properties each year, she steadily increases that income. You will hit a point that is comfortable to you where you can give your tenants your attention and balance your full-time job.
Trusting yourself is a big part of real estate. Listening to your instincts happens frequently. Getting an application from a contractor is a good example. If you get a bad feeling, it’s probably best to avoid that situation. Things will happen, you’re going to learn. There will be moments where you’ll realize that you could’ve (or should’ve) listened to that intuition.
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