{"id":139421,"date":"2021-08-10T13:30:00","date_gmt":"2021-08-10T19:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=139421"},"modified":"2023-03-27T02:47:39","modified_gmt":"2023-03-27T08:47:39","slug":"housewreck-failure","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/housewreck-failure","title":{"rendered":"Housewreck! Here&#8217;s Why Failure Is NEVER the End of Your Real Estate Journey"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC9678957538&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p>I was so disoriented that I almost fell off the elliptical machine when I heard Leka say it.<\/p>\n\n\n\n<p><a href=\"http:\/\/www.rehabithomes.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Leka Devatha<\/a> was telling her story on BiggerPockets Podcast episode 390 and I was working out while listening to the podcast. She was telling the story of how she was a relative newbie to the real estate world and this was her first deal.<\/p>\n\n\n\n<p>She bought the house sight unseen (not recommend). She thought it was a cosmetic flip\u2014but nope. The plumbing was bad. The electrical was bad. There was mold everywhere. There was dry rot. There was a basement leak. She went through 15 different contractors. Then listed the house at the absolute wrong time: Thanksgiving week. She finally sold it in February of the following year.<\/p>\n\n\n\n<p>I have an active imagination, and I could see it all. I felt her pain. I could empathize with the sense of failure. Then she said it: \u201cAnd I just came out of that feeling like a superwoman.\u201d<\/p>\n\n\n\n<p>That\u2019s when I stumbled and got off the machine (you know, for my own safety). What? Did she say she felt like a \u201csuperwoman?\u201d I rewound the podcast. Yep. That\u2019s what she said: superwoman.<\/p>\n\n\n\n<p>Everything was going wrong, and after she powered through it, rather than seeing this as a failure and reason to quit, she viewed this as a triumph. Superwoman.<\/p>\n\n\n\n<p>We have a lot to learn from Leka and those who view \u201cfailure\u201d like this.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n  <div id=\"posts_lists-block_610ac96420ff6\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More on overcoming failure from BiggerPockets           <\/h2>  \n                  \n        \n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-114960\" \n\tclass=\"content-card mb-0 flex flex-col  post-114960 post type-post status-publish format-standard has-post-thumbnail hentry category-personal-development\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/7-deadly-sins-causing-real-estate-investors-fail\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/failure.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"7 Deadly Sins That Cause Real Estate Investors to Fail\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/failure.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/failure-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/failure-768x512.jpg 768w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/personal-development\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Personal Development &amp; Goals<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">9 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/214608.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2019-09-02T12:00:00-06:00\">Sep 02, 2019<\/time><time class=\"updated\" datetime=\"2021-03-16T14:55:39-06:00\">Mar 16, 2021<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" class=\"no-underline line-clamp-1\" target=\"_blank\">Paul Moore<svg class=\"h-5 inline ml-2\" viewBox=\"0 0 21 21\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><g clip-path=\"url(#a)\"><path d=\"M19.253 5.25a1.75 1.75 0 0 0-1.663 2.29l-1.42.902a2.188 2.188 0 0 1-2.868-.46L11.91 6.28a1.73 1.73 0 0 0 .342-1.03 1.75 1.75 0 1 0-3.5 0c0 .37.12.732.34 1.03L7.701 7.982a2.188 2.188 0 0 1-2.868.46l-1.42-.903a1.75 1.75 0 1 0-1.816 1.203l1.035 6.205a.438.438 0 0 0 .43.366H17.94a.437.437 0 0 0 .431-.366l1.035-6.204a1.75 1.75 0 0 0-.153-3.494Z\" fill=\"#FFC107\"\/><path d=\"M10.502 17.064c4.108 0 7.438-.98 7.438-2.188 0-1.208-3.33-2.188-7.438-2.188-4.109 0-7.439.98-7.439 2.188 0 1.208 3.33 2.188 7.439 2.188Z\" fill=\"#FFA000\"\/><path d=\"M10.502 17.501c-3.915 0-7.877-.901-7.877-2.625s3.962-2.625 7.877-2.625c3.914 0 7.876.9 7.876 2.625 0 1.724-3.962 2.625-7.876 2.625Zm0-4.375c-4.597 0-7.001 1.137-7.001 1.75s2.404 1.75 7 1.75c4.597 0 7.002-1.138 7.002-1.75 0-.613-2.405-1.75-7.001-1.75Z\" fill=\"#FFD54F\"\/><\/g><defs><clipPath id=\"a\"><path fill=\"#fff\" d=\"M0 0h21v21H0z\"\/><\/clipPath><\/defs><\/svg><\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/7-deadly-sins-causing-real-estate-investors-fail\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\t7 Deadly Sins That Cause Real Estate Investors to Fail\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">If you want to be successful in your real estate investing career, make sure to steer clear of the sins that oftentimes plague beginner investors. Learn what to look for&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 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class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/ignore-principle-youll-destroy-real-estate-career\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/01\/snowball-to-face.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Ignore This Principle and You\u2019ll Destroy Your Real Estate Career\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/01\/snowball-to-face.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/01\/snowball-to-face-300x200.jpg 300w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/all\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">All<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">6 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/214608.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2021-01-21T12:30:25-07:00\">Jan 21, 2021<\/time><time class=\"updated\" datetime=\"2021-03-16T14:51:43-06:00\">Mar 16, 2021<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" class=\"no-underline line-clamp-1\" target=\"_blank\">Paul Moore<svg class=\"h-5 inline ml-2\" viewBox=\"0 0 21 21\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><g clip-path=\"url(#a)\"><path d=\"M19.253 5.25a1.75 1.75 0 0 0-1.663 2.29l-1.42.902a2.188 2.188 0 0 1-2.868-.46L11.91 6.28a1.73 1.73 0 0 0 .342-1.03 1.75 1.75 0 1 0-3.5 0c0 .37.12.732.34 1.03L7.701 7.982a2.188 2.188 0 0 1-2.868.46l-1.42-.903a1.75 1.75 0 1 0-1.816 1.203l1.035 6.205a.438.438 0 0 0 .43.366H17.94a.437.437 0 0 0 .431-.366l1.035-6.204a1.75 1.75 0 0 0-.153-3.494Z\" fill=\"#FFC107\"\/><path d=\"M10.502 17.064c4.108 0 7.438-.98 7.438-2.188 0-1.208-3.33-2.188-7.438-2.188-4.109 0-7.439.98-7.439 2.188 0 1.208 3.33 2.188 7.439 2.188Z\" fill=\"#FFA000\"\/><path d=\"M10.502 17.501c-3.915 0-7.877-.901-7.877-2.625s3.962-2.625 7.877-2.625c3.914 0 7.876.9 7.876 2.625 0 1.724-3.962 2.625-7.876 2.625Zm0-4.375c-4.597 0-7.001 1.137-7.001 1.75s2.404 1.75 7 1.75c4.597 0 7.002-1.138 7.002-1.75 0-.613-2.405-1.75-7.001-1.75Z\" fill=\"#FFD54F\"\/><\/g><defs><clipPath id=\"a\"><path fill=\"#fff\" d=\"M0 0h21v21H0z\"\/><\/clipPath><\/defs><\/svg><\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/ignore-principle-youll-destroy-real-estate-career\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tIgnore This Principle and You\u2019ll Destroy Your Real Estate Career\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Long ago, I learned an important Buffettism before I\u2019d ever heard of Warren Buffett. I hope you know it, too\u2014because if you don\u2019t practice it, you\u2019re sure to come to&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"104936\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-104936 -->\n<article \n\tid=\"post-104042\" \n\tclass=\"content-card mb-0 flex flex-col  post-104042 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-business-management category-biggerpockets-daily\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/money-losing-failure-lessons\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"337\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/older-man-drinking-coffee-main.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"What Interviewing 100+ Investors on Failure Taught Me About Losing Money\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/older-man-drinking-coffee-main.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/older-man-drinking-coffee-main-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/09\/older-man-drinking-coffee-main-768x513.jpg 768w\" sizes=\"auto, (max-width: 337px) 100vw, 337px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/real-estate-business-management\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Real Estate Business Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">8 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/214608.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2019-11-10T09:00:07-07:00\">Nov 10, 2019<\/time><time class=\"updated\" datetime=\"2023-08-09T10:48:05-06:00\">Aug 09, 2023<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" class=\"no-underline line-clamp-1\" target=\"_blank\">Paul Moore<svg class=\"h-5 inline ml-2\" viewBox=\"0 0 21 21\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><g clip-path=\"url(#a)\"><path d=\"M19.253 5.25a1.75 1.75 0 0 0-1.663 2.29l-1.42.902a2.188 2.188 0 0 1-2.868-.46L11.91 6.28a1.73 1.73 0 0 0 .342-1.03 1.75 1.75 0 1 0-3.5 0c0 .37.12.732.34 1.03L7.701 7.982a2.188 2.188 0 0 1-2.868.46l-1.42-.903a1.75 1.75 0 1 0-1.816 1.203l1.035 6.205a.438.438 0 0 0 .43.366H17.94a.437.437 0 0 0 .431-.366l1.035-6.204a1.75 1.75 0 0 0-.153-3.494Z\" fill=\"#FFC107\"\/><path d=\"M10.502 17.064c4.108 0 7.438-.98 7.438-2.188 0-1.208-3.33-2.188-7.438-2.188-4.109 0-7.439.98-7.439 2.188 0 1.208 3.33 2.188 7.439 2.188Z\" fill=\"#FFA000\"\/><path d=\"M10.502 17.501c-3.915 0-7.877-.901-7.877-2.625s3.962-2.625 7.877-2.625c3.914 0 7.876.9 7.876 2.625 0 1.724-3.962 2.625-7.876 2.625Zm0-4.375c-4.597 0-7.001 1.137-7.001 1.75s2.404 1.75 7 1.75c4.597 0 7.002-1.138 7.002-1.75 0-.613-2.405-1.75-7.001-1.75Z\" fill=\"#FFD54F\"\/><\/g><defs><clipPath id=\"a\"><path fill=\"#fff\" d=\"M0 0h21v21H0z\"\/><\/clipPath><\/defs><\/svg><\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/money-losing-failure-lessons\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tWhat Interviewing 100+ Investors on Failure Taught Me About Losing Money\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">In the course of recording a podcast, we\u2019ve gotten quite a few questions from listeners and others who are curious about this topic: lessons learned in the process of failure.&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"104042\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-104042 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  \n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Leka&#8217;s story<\/h2>\n\n\n\n<p>\u201cFail\u201d is a small word but a big deal. Brandon Turner asks most guests on the BiggerPockets podcast, \u201cWhat separates successful investors from those who give up, fail, or never get started?\u201d<\/p>\n\n\n\n<p>\u201cGiving up\u201d and \u201cnever starting\u201d have the same result for everyone: You\u2019re not in the game any more. And to be a successful investor, well, you have to be in the game. There\u2019s no other way to play. The failure bit, though\u2014that can sound like it\u2019s terminal. Dead end. Game over.<\/p>\n\n\n\n<p>But here was Leka Devatha saying she had waded through what I thought was \u201cfailure\u201d and come out the other side wearing a cape and ready to take on the world.<\/p>\n\n\n\n<p>If you are like most people and struggle with fear or failure, or have quit because you believe \u201cfailure\u201d is terminal, there\u2019s great news: \u201cFailure\u201d is not the end of everything. In fact, if you view it like Leka did, it\u2019s fuel for success.<\/p>\n\n\n\n<p>So who is Leka Devatha?<\/p>\n\n\n\n<p>In her own words: \u201cWhat I do is I fix and flip. I have a rental portfolio that is constantly growing. So I\u2019m finding properties and BRRRRing them. I am now moving to larger multifamily. I\u2019ve just done a contract of a 10-unit in Washington state. I am also doing fundraising for my first fund: a $30 million project in Orlando. Apart from all this, I\u2019m on the board of a hard money lending company. It\u2019s a FinTech startup out of San Francisco. And one of the best things that I do is host a monthly meetup where I bring amazing speakers to talk about real estate to the community. And that just gives me the most joy.\u201d<\/p>\n\n\n\n<p>Her story might sound like unattainable success, or maybe luck. The good news for us? She didn\u2019t get to that success overnight. She got there by working through one problem after another, just like we can.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How she started<\/h2>\n\n\n\n<p>One of the funniest stories she told me happened when she was 18. She was living at home in India with her parents while attending school. I don\u2019t know what she did (she won\u2019t say!) but she got grounded so badly that she couldn\u2019t leave her room after school. At all. So what did she do with her time?<\/p>\n\n\n\n<p>Leka says, \u201cI learned a craft, and I just sat in my room and I worked on that craft all day, all night. And eventually that craft became like a side business, all this while I was in college. And I ended up being featured in the local newspaper, having a huge sale of my product, and crushing it. I started taking classes and teaching this craft. And then I started making so much money that I was able to buy a car, pay my cell phone bill\u2014take care of all my bills\u2014when I was 18 years old. That was all me. I made something out of nothing.\u201d<\/p>\n\n\n\n<p>What was she making that cash flowed so well? Baskets. Baskets made out of bread mashed up with basic chemicals. Leka took punishment and bread and turned it into opportunity. We could take a page from that.<\/p>\n\n\n\n<p>She moved to the U.S. in 2007 and got a corporate job with Nordstrom. Solid work, but after several years, the thought of doing it for decades was too much for her to bear. She wanted something new, so she took the plunge into real estate.<\/p>\n\n\n\n<p>She says, \u201cI was building my own house with a builder and I was designing cabinets and choosing tile and all these cool things. And I was like, wow, how fun would it be to actually go out and build a house? But I knew nothing about it. I didn\u2019t know that was called real estate investing. I thought anything to do with real estate meant that I\u2019d have to be a real estate broker.\u201d<\/p>\n\n\n\n<p>So Leka started searching the Internet for ideas. An ad for Fortunebuilders popped up, so she went and was inspired. As she puts it, \u201cLike true entrepreneur I jumped off the cliff then opened my parachute. I went straight from being a Nordstrom corporate by day, to starting my own company, <a href=\"https:\/\/www.rehabithomes.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Rehabithomes<\/a>, that focused on rehabbing old distressed properties. Eventually I realized I couldn\u2019t do both jobs and give it my all. So I quit my corporate job and really took the plunge and did real estate full time.\u201d<\/p>\n\n\n\n<p>She hasn\u2019t looked back.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conquering disasters<\/h2>\n\n\n\n<p>Not that it was all easy. You heard about her first flip. Shortly after that, armed with confidence and some experience, she jumped into her next adventure: four flips going simultaneously\u2014each of them over $1 million. Not everything went well.<\/p>\n\n\n\n<p>Everything seemed to go wrong. One contractor got a brain tumor and left the country. One project\u2019s hold time nearly doubled because of permit issues. One had a terrible contractor. And the fourth was miles and miles away from her home and other job sites.<\/p>\n\n\n\n<p>Did she quit? Not Leka. She says, \u201cI wasn\u2019t going to let any of my investors down. And I hustled my way through those projects, and I never missed a mortgage payment. I never foreclosed. I made sure that all of their money was returned.<\/p>\n\n\n\n<p>&#8220;Some projects, I made a profit on. Some, I made a loss on. Those four projects taught me so much about investing in general\u2014and all the things that could go wrong. I think the biggest lesson learned was don\u2019t over-leverage; stay within your means.\u201d<\/p>\n\n\n\n<p>As I was listening to her tell me this, I\u2019m thinking, $4 million of hard money and private money\u2014and it\u2019s all falling apart. Yikes. So I asked her, \u201cWhat was your inner narrator telling you during all this?\u201d<\/p>\n\n\n\n<p>She shot back without a pause. \u201cYou got this!\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The importance of mindset<\/h2>\n\n\n\n<p>That raises the question: Which came first, the reality of success or the mindset of success?<\/p>\n\n\n\n<p>Mindset. Mindset leads to action, and that action leads to success.<\/p>\n\n\n\n<p>She tells the story of a friend of hers who was starting in the flipping business about the same time she was. But he quit where she pressed on. The difference? Action. As she puts it, \u201cI never banked on someone else to move those puzzle pieces for me.\u201d<\/p>\n\n\n\n<p>Leka says that while they were both promised connections with contractors by wholesalers or agents after their purchases, she didn\u2019t wait. She forged ahead and began looking for her own contacts.<\/p>\n\n\n\n<p>Him? He waited for the contacts to land in his lap. Were all of her contacts aces? Nope. But she was making progress, and he was sitting still in the water. Eventually that inaction sank him. Holding costs can be a profit killer, and inaction can be deadly for an investor.<\/p>\n\n\n\n<p>But even action can lead to problems. \u201cNot every one of your deals can be a slam dunk,\u201d Leka says. Here\u2019s the story of &#8220;deal 37,&#8221; as she tells it.<\/p>\n\n\n\n<p>\u201cI lost $65,000 on deal 37. You would think that by number 37, all deals would be a slam dunk. That you are never going to make a mistake. You\u2019re never going to buy the wrong deal. You\u2019re never going to fix it up wrong. You\u2019re never going to sell it wrong. That you\u2019re always going to be a success. And then, you know, reality strikes and it\u2019s a big, big loss.\u201d<\/p>\n\n\n\n<p>Here\u2019s where it gets really interesting. I asked, \u201cIf deal 37 failed that badly, was there a deal 38?\u201d<\/p>\n\n\n\n<p>Leka laughs and says, \u201cIt\u2019s funny. The guy that brought me deal 37 is one of my most trusted wholesalers. Now, when I lost so much money on deal 37, I never went to him and said, \u2018Hey, that was a really bad deal, and I\u2019m never buying deals from you again.\u2019<\/p>\n\n\n\n<p>&#8220;I could have, but I didn\u2019t. What I did say to him was, \u2018Hey, that was a bad deal. And it was my mistake because I was the one that bought it. I comped it. I rehabbed it. It was all my mistake. But it\u2019s okay. Let\u2019s just move forward, forget that it happened, and there\u2019ll be better deals.\u2019\u201d<\/p>\n\n\n\n<p>She owned the decisions she had made and stuck with her wholesaler. It would have been so easy to blame him, get bitter, call it a failure and quit. But she didn\u2019t. Then the same wholesaler came with deal 38.<\/p>\n\n\n\n<p>\u201cThat turned out to be the best BRRRR I\u2019ve ever bought,\u201d Leka says. \u201cI bought it for $238,000. If he had gone to his other investors, they would have bought it for about $300,000. But he gave it to me for $238,000 because he was like, \u2018I need to make you money that I lost you on deal 37.\u2019 So I bought it for $238,000, fixed it up for $20,000. All in, $258,000. It then it appraised for $375,000. To this day, it just cash flows like a king.\u201d<\/p>\n\n\n\n<p>Now it\u2019s worth closer to $450,000 (while cash flowing). That\u2019s a $192,000 upside on one house, not including cash flow. What would have happened if she had quit at 37?<\/p>\n\n\n\n<p>That\u2019s only a metaphysical question in her case because she didn\u2019t quit. The question is for us: What will we do when things get rocky?<\/p>\n\n\n\n<p>\u201cI failed so much on my first project that it helped me succeed for the next eight years of my real estate investing career because I didn\u2019t let that first failure crush me,&#8221; she says. &#8220;If it had, I don\u2019t think I could have survived. A lot of the other challenges that came along, and I kept saying to myself, \u2018If I survived that first deal, I can survive this. This is a piece of cake.\u2019\u201d<\/p>\n\n\n\n<p>When asked about how to mitigate risk, Leka offers this advice. \u201cThere\u2019s many ways to start investing. You don\u2019t have to take on all the risks. Go find a JV partnership. Go find a seasoned investor to shadow, give them your money, or give them your deal. Offer to be their project manager, lend them your hard work, your hustle.\u201d<\/p>\n\n\n\n<p>Then she offered a suggestion I\u2019d never considered: syndications. They can be done passively, but she suggests an active role. \u201cGo be an LP on a deal and figure out all the makings of the deal,&#8221; she says. &#8220;Like, how is the deal set up? How are they underwriting the deal? What is the asset management? What is the exit strategy look like? You can do that for far, far less than $200,000. $25,000- $50,000 would get you into a deal. There are so many ways to do this.\u201d<\/p>\n\n\n\n<p>Lucky for her there are lots of ways to do real estate investing because she is, in her own words, \u201cnext, next, next!\u201d Even after massive success in flipping (over 75 by now), she can\u2019t settle into one groove.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Keep learning<\/h2>\n\n\n\n<p>Here\u2019s how she puts it.<\/p>\n\n\n\n<p>\u201cI\u2019ve had this conversation with Brandon Turner. I love learning curves and he\u2019s like, \u2018Don\u2019t be afraid to not have a learning curve. Just stick with what you know.\u2019 But my mental makeup is different. It\u2019s like the minute I figure something out, life could be peachy. I could just rinse and repeat, but no. I have to go and figure something else out. So I\u2019m always in front of a learning curve.\u201d<\/p>\n\n\n\n<p>Fact is, most of us have a learning curve of some sort. Even if what we\u2019ve done in the past has worked over and over, it won\u2019t work forever. So when change happens, we either shrivel, quit, or learn.<\/p>\n\n\n\n<p>Leka\u2019s number one way to learn: Networking.<\/p>\n\n\n\n<p>She\u2019s doing that now as she embarks on her newest venture: syndication. It\u2019s so new to her, she says, \u201cI don\u2019t know what I don\u2019t know. And that scares me. Right? Because if I know what I don\u2019t know, then I\u2019ll find a way to figure that out. But if I don\u2019t even know what questions to ask, how do I ask good questions to get good answers?<\/p>\n\n\n\n<p>\u201cI could be projecting certain returns that are not coming. How do we deliver on that promise? And that delta is scary.\u201d<\/p>\n\n\n\n<p>How does she find the right questions? Networking is her answer. Find out who knows and learn from them. Surround yourself with people who do know the questions and\/or answers. They\u2019ll lead the way.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Advice for new investors<\/h2>\n\n\n\n<p>Leka\u2019s parting advice for the new investor is simple (but not easy). You have to start. Start somewhere. Start anywhere, but you have to get started.<\/p>\n\n\n\n<p>As she puts it, \u201cFor a lot of people it\u2019s taking the plunge and doing that first deal. A lot of people have reached out to me over the last year, especially since the BP podcast aired. They say, \u2018Hey, I want to do this. I want to invest in real estate. How do I get started? I\u2019ve been listening to podcasts and reading books, but how do I get started?\u2019<\/p>\n\n\n\n<p>\u201cPeople can take all the courses, read all the books, watch all the shows, but if you\u2019re not practically doing something, then there\u2019s no way to gain experience. I mean, look, it\u2019s not easy. People make it sound like it\u2019s so fun and it\u2019s so easy and \u2018I\u2019ve done a hundred deals\u2019 or \u2018I own 1500 units,\u2019 right? No. It\u2019s not that easy. It\u2019s going to take hard work. It\u2019s going to take a hustle mentality. It\u2019s going to take you putting in the work to get something out of it. But it is possible.<\/p>\n\n\n\n<p>\u201cI swear I am the living example of that. I didn\u2019t grow up in this country. I didn\u2019t come here with money. I didn\u2019t have a lot of money to get started. And you know, I am where I am all because I put in the hard work. So if I can do it, so can you.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Failure isn&#8217;t the end of your real estate investing story. 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