Today on the BiggerPockets Podcast, we sit down and chat with Stefanie Marshall, an investor from Northern California who has flipped more than 50 properties in the last five years, all while working a job as an accountant! In this powerful (and hilarious) interview, Stefanie shares how she jumped into the flipping game, how she managed to purchase a property in California for just $30,000, the sad story of losing $100,000 on a single flip, and how she bounced back to create an impressive flipping empire! Don’t miss a second of this fun, informative (and often sarcastic) episode!
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We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
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In This Episode We Cover:
- What Stefanie does in real estate
- How she got started
- How she completed 60 deals in a span of five years
- Tips for investing while having a day job
- How she started without knowing much and ended up being saved by a contractor
- Thoughts on finding a good partner
- Some of Stephanie’s deals that went wrong
- Where is the line when doing a price reduction
- What to do when something goes wrong in the middle of a flip
- Why you anticipate “I don’t know what’s going wrong” expenses
- Where she currently invests and what the market is like
- The minimum profit she tries to shoot for
- How a flat fee listing works
- The importance of being represented well in a deal
- How she finds deal through auctions
- What cash for keys is
- How to research properties before going to an auction
- How she finds deals today
- The female perspective on investing
- Thoughts on having a team and building systems
- And SO much more!
Links from the Show
- BP Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod
- You know you’re a Female Investor when… [Forum thread]
- BiggerPockets Forums
- BP Podcast 125: The Key to Business Success with Bestselling Author of The E-Myth Michael Gerber
- BiggerPockets Press
Books Mentioned in this Show
- The Book on Investing with No and Low Money Down by Brandon Turner
- The Book on Rental Property Investing by Brandon Turner
- The Book on Flipping Houses by J. Scott
- FLIP: How to Find, Fix, and Sell Houses for Profit by Rick Villani
- Rich Dad Poor Dad by Robert Kiyosaki
- The E-Myth Revisited by Michael Gerber
- The 10X Rule by Grant Cardone
- “Everything does not have to be always bigger and better.” (Tweet This!)
- “Your first loss will be your smallest loss.” (Tweet This!)