BiggerPockets Podcast 105: From Minimum Wage to Full Time Flipper with Ophelia Nicholson
Prepare to be inspired and motivated after listening to today’s episode of the BiggerPockets Podcast! In this program we sit down with Ophelia Nicholson, a house flipper from the Maryland area who got started with real estate while working a minimum wage job. You’ll learn how she broke out of that life and was able to quit her job to become a full time, successful house flipper, working on multiple properties at once!
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Listen for insightful tips on applying for a loan, learning to be a landlord, partnering with family members and quitting your job for real estate. If you're wondering whether it's possible to make your investing dreams come true, don't miss out on this episode â it'll give you great insight into how you CAN make it happen!
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In This Show We Cover:
- How Ophelia got started investing
- The story of her “first small house“
- How to buy a house on a minimum wage salary
- Tips on applying for a loan
- The experience of becoming an accidental landlord
- What to do if you’re sued by your renter
- Lessons about starting out as a landlord
- Ophelia’s on and off relationship with real estate
- The pros and cons of partnering with family
- How to put 15 properties under contract in 30 days
- Quitting your job for real estate
- Thoughts on women getting into real estate investing
- Plus MUCH more!
Links From the Show:
- BiggerPockets’ Trivia (email)
- BP Podcast Show 104
- BiggerPocket’s Real Estate Analysis Software
- BiggerPockets’ List of Hard Money Lenders
- BiggerPocket’s Flipping Book
Books Mentioned in the Show
- The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties by J. Scott
- Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down
- The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone
- The Trick to Money Is Having Some by Stuart Wilde