Ep 134: Taking The Leap To Commit Yourself to Real Estate
Transitioning into real estate can take many shapes and forms. Some dabble passively on the side while others prefer a more hands-on and active approach. Josephine Heron has done it all, and today, she joins us to talk about her experiences in multi-family. We kick off by finding out more about Josey’s background. She tells us how, after many years as an engineering consultant and Senior Reserve Officer for the US Coast Guard, she became burnt out and began looking for a new venture in life that could afford her more time with her family. Josey walks us through the initial stages of her real estate journey, detailing her varied experiences. Following this, Josey fills listeners in on why it is important to set time aside to narrow down what you want to achieve. She touches on how she has partnered up with five trusty lenders and two contractors and kept a bull’s eye focus on her respective projects. Toward the end of our conversation with Josey, she shares the biggest lessons she’s learned in real estate, like keeping contingency in her budgets. To conclude, we hear how Josey has handled her real estate hiccups on an emotional and mental level, before punctuating our chat with her favourite project management tools for success. Join us today and find out how you can make the jump too!
Key Points From This Episode:
Introducing today’s guest, multi-family investor Josephine Heron.
Josey shares her professional history and her experiences in real estate.
Hear about the epiphanies which led to Josey’s career change.
Find out about the first property Josey invested in after committing to real estate.
Why it is important to set time aside to narrow down the goals you want to accomplish.
Josey tells us about some of the bigger things she’s learned during her time in real estate.
How Josey has handled her real estate hiccups on an emotional and mental level.
Hear about how Josey is spreading her interest in the real estate space.
Josey shares her secrets on how to manage several construction deals.
Project management tools and systems that Josey would prescribe to others.
How Josey and her team approach projects.
“I knew with the perspective I had gained, I really wanted to go bigger. I knew that nothing is guaranteed in life, things can happen and change in an instant. But I was kind of tired of waiting around and grinding.” — Josephine Heron [0:07:10]
“I put it down to Kansas city through rental price ratio, population growth, as well as job growth — I did a crosswalk with some of the KPIs there.” — Josephine Heron [0:08:00]
“I think the focus it gave me, once I made that choice to move into real estate, is so key. Right now I’ve got great momentum and the networks are just so powerful once you’re in a market.” — Josephine Heron [0:12:34]
“What I think would be good advice for anyone going into this business is to keep a contingency, but don’t advertise what that is.” — Josephine Heron [0:15:24]
Links Mentioned in Today’s Episode:
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