Peeling the layers of the real estate onion
In today’s episode, we will speak to my friend Sunitha from Griffix Property Group.
We met last year at Fincon and it quickly appeared that she is passionate about real estate. She started to build her real estate portfolio only 2 years ago and now owns 4 properties all while being active in her full-time job.
Suni will share why she entered the real estate market in the first place, how as a landlord she is dealing with the Covid-19 situation and how she got creative and managed to finance those properties. She also converted a long-term rental unit into an Airbnb and we discuss how you can turn that into a profitable venture.
Listen here:
…or listen on Apple Podcasts or Spotify.
This episode is for you if you are hesitant to enter the real estate market as an investor and as well if you are keen to run a successful Airbnb investment.
Key Takeaways:
- Real estate investing by buying and holding properties is a great way to front-load the work, get semi-passive income and appreciation in perpetuity (if done well).
- The power of real estate investing lies in leveraging all the creative financing opportunities. By using little money or even other people’s money (e.g. seller financing) you can achieve large returns on your investments. See what is possible in your country, I managed to tap into the equity of my apartment in Norway for instance.
- Bigger Pockets is a great resource for US investors and is even a great inspiration and network opportunity if you live outside of the US.
- If you choose to run an Airbnb, you already know about the extra work involved but in addition, you’ll need to switch your approach to “I am a hospitality professional” rather than a transactional and emotionless investor. The Airbnb rental offers a higher return on investment than a long-term rental but requires more work, is more volatile and seasonal. “Higher risk, higher reward” as they say 😉.
- For those just getting started, I’ll just conclude with Sunitha’s advice: Do your own research find out what is right for you by peeling the layers of the “Real Estate Onion”.
Who is Sunitha?
The high-level overview of Sunitha’s journey is as follows: 10 years ago, she retired from nearly a decade of playing tennis professionally at the age of 23 with a sixth-grade education, quite literally no money and very little knowledge of how the world worked outside of her sport. Fast forward to today, she has earned a bachelor’s in business and finance from Babson College and an MBA, has no student debt, a successful career in corporate finance, and a budding real estate business with seven doors in her portfolio. Her goal is to achieve financial freedom while also having a positive impact on other’s lives through investing in real estate by purchasing distressed properties and repairing them up to provide safer, cleaner, higher quality living environment for her tenants and guests.
RESOURCES
- Website: Griffix Property Group
- Instagram: @griffixpropertygroup
- Book recommendation:
- Best purchase under 100 USD: Giving away your data for a free speaker and great music recommendations! 🙂
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