According to Casey Franchini, founder of Brick by Brick Wealth, the question should never be, “How many houses do I have?” Instead, real estate investors should always be asking themselves: “How much cash flow do I have? How easy are my properties to manage? And what is my risk level?” A single-family investor based in Memphis, Tennessee, Casey asks herself these three questions each time she finds a new property to ensure that she acquires low-maintenance and high-quality homes.
Casey’s journey into real estate investment was far from easy. After moving to Memphis from Southern California with her husband, Casey knew that she wanted to invest in a rental property. However, she was unfamiliar with the area and lacked the cash flow necessary for a down payment. In order to attain the necessary funds, Casey bought a Cricket and opened her own Etsy business. In just over a year and a half, Casey had saved $20,000, enough for a down payment on her first rental property!
Tune into today’s episode of The Real Estate InvestHER Show for a conversation with Casey about creating the life of your dreams brick by brick. Learn how Casey finds stress-free tenants with low turnover rates, why it is crucial to get clear on your criteria before entering the market, and how Casey’s no-excuse mentality has skyrocketed her to success in the industry.
• “I think that buying something really safe is really important for your first real estate investment deal because it’s going to set you up for success or it’s going to ruin your love of rental properties, and you’re going to never want to do it again.” (13:22-13:36)
• “A lot of people think that you need to have an apartment complex to be rich and successful or you have to wait and do a syndication once you can afford that or that single families are the slow way and you make no money. That is so far from the truth!” (14:50-15:06)
• “Everyone’s got some skill they can sell, and everyone knows there’s courses all over the internet on how to market yourself for whatever your specialty is. So, there’s really no excuse anymore. If you want to make extra money, you definitely have time.” (22:55-23:10)
• “The most important thing I would say is to pick quality properties and quality tenants.” (24:55-25:00)
• “The more specific your criteria are, the easier it is for you to spot deals, the less work it’s going to be to find a good property that’s going to make you money, and – the biggest thing – you feel confident in your decision to pull the trigger and buy something because you will know that that property’s going to make you money.” (31:44-32:00)
• “To me, it’s not quantity, it’s not ‘how many houses do you have?’....It’s, well how much cash flow do I have? How easy are my properties? What’s my risk level?” (38:03-38:13)
Connect with Casey Franchini:
Email: [email protected]
FREE Course: https://brickbybrickwealth.ck.page/freecourse
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