If you want to invest in real estate, you’re probably taking a safe, slow approach to building a rental property portfolio. As a real estate rookie, people tell you that the safest way to invest is to get good at one thing while keeping a distance from doing deals outside your comfort zone. While this type of advice isn’t wrong for everyone, it may miss the mark for some.
Investors like Marjorie Patton have found ways to dramatically diversify themselves in the world of real estate, without their losing shirts. Marjorie is the head of sales for a financial technology firm by day and a real estate investor, house hacker, flipper, and private money lender by night. With some rather unexpected renovation costs on her first property (and with no safety reserve), Marjorie was forced to learn real estate investing on the fly.
Fast forward to today, Marjorie has a seven-door portfolio in the expensive Denver, Colorado area. She’s grown quickly and has seen healthy profits, but has no need to quit her W2. Instead, she’s going to creatively parlay any deal that comes across her desk so she can build wealth while continuing to work somewhere she loves.
David:
This is the BiggerPockets podcast show 602.
Marjorie:
Don’t second guess yourself in terms of the things that you know. You know a lot more than you think you do, and you don’t necessarily need to have gotten one deal under contract or anything like that. You are smart people, people out there that try and read and listen and take the advice of other people who are smart and read. I think that it’s endless in terms of what you can do. I shouldn’t say with very little knowledge, but if you feel like you can pick apart those parts of your experience where you can apply them to different deals.
David:
What’s going on, everyone? My name is David Greene, and I’m the host of the BiggerPockets Real Estate podcast. If this is your first time listening, this is where you go if you want to build wealth through…