EP 142: Solving Social Issues Through Real Estate Investing with Leka Devatha and Rachel Street
Oct 23, 2020Investing in real estate should not only focus on profit, but purpose as well. On today’s episode, we talk with Rachel Street and Leka Devatha, investors, businesswomen, and contributing authors of The Only Woman in the Room, where we talk how to solve social issues through real estate.
Leka and Rachel have each successfully grown their real estate businesses and learned along the way that with great opportunity also comes great responsibility. We discuss both small and large way investors can incorporate social good into their practices, how to align yourself with others who run ethical businesses, and the value in giving. We also talk about working with wholesalers and how to become the trusted person wholesalers call first with a good deal.
Leka Devatha moved to the US from India 13 years ago leaving a successful career in fashion merchandising. After working for Nordstrom Corporate for a few years, she realized that what she was really after was creating a legacy. She quit her corporate job in 2014 and started Rehabit Homes, a company investing in Real Estate. After a string of successful flips, she obtained her broker's license in 2017 and became one of the top producing real estate agents in her office.
She has now flipped over 40 homes, and has expanded her focus to include land development, acquiring long term rentals and building and running adult family homes.
Rachel Street is the Team Leader of the real estate team The Street Group at Space & Company and President of Hestia Construction, LLC, a woman-owned construction company offering full construction services and design-driven custom homes in her native Philadelphia. She is also the Host of Philly Revival, an HGTV and DIY Network TV show that follows her as she finds architecturally interesting properties that are run-down or abandoned, and transforms them into exciting modern spaces that also honor the history and unique original features of the home.
Rachel and her company have been widely recognized for their social entrepreneurship and community service, which includes a program to provide free renovations and home repair for those in need, teaching English as a Second Language, and other social initiatives. Rachel has won numerous awards, including Philadelphia Magazine's "Best of Philly 2019- Best Contractor", The Philadelphia Inquirer's "Influencers of Real Estate 2019- Rising Star Award", as well as awards for her community service and real estate sales volume.
On today’s episode, we discuss a ton with Leka and Rachel, including:
- Way to incorporate social good in real estate projects
- Lessons learned from losing money on large deals
- The value of being a problem solver in real estate
- Tips for vetting and working with wholesalers to grow your business.
Books/Resources
The Only Woman in the Room Compiled by Ashley Wilson
Contact Information
Rachel Street
Facebook – Rachel Street
Instagram – Hestia Philly
Hestia Construction, LLC: www.hestiaphilly.com
The Street Group: www.streetgroupphilly.com
Leka Devatha
LinkedIn – Leka Devatha
Instagram - Leka Devatha
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