Investor Series- With Boss Ladies Investing!

05/23/23 • 26 min

The Perfect Property Podcast: An Atlanta Real Estate Guide

The Perfect Property Podcast
Host: Juli St. George of Keller Williams Realty’s Perfect Property Team
Guests: Emily Collins & Nancy Nguyen, Real Estate Investing Entrepreneurs
Summary:
Barely into their 30s, our guests on this episode of The Perfect Property are a dynamic duo of real estate investors already on the brink of retirement. How have they done it? Through savvy, brave purchases – and relentless hard work! Nancy Nguyen & Emily Collins share with Host Juli St George an inside look at how they’ve built impressive real estate portfolios filled with a variety of investment properties. Starting from scratch, these two young female entrepreneurs leveraged mortgages, identified hidden market opportunities and teamed up to grow their business by leaps and bounds. What it takes is homework, a strong credit score and a willingness to actually take the plunge. Take a peek into how Emily and Nancy are balancing it all – the due diligence, purchases, management and inevitable trouble-shooting – while also pursuing
personal passions from travel to opening a popular Atlanta area restaurant. You’ll learn about the tried-and-true tips, actionable strategy and vision they have evolved through their
partnership. Best of all? They’re totally open to mentoring others – especially women
If you enjoyed this episode, please visit this link to subscribe & listen to much more from Juli St. George & the Perfect Property archives.
What You’ll Learn:
 Principle Investment: Why both Nancy and Emily are comfortable with 80% of their
portfolios dedicated to real estate.
 Meant to Be: How Nancy was inspired and mentored by Emily, who helped her find
profitable footing in the real estate space.
 Identifying Opportunities:
o Distinguish between established versus up-and-coming areas.
o Understand the difference between cash flow versus equity.
term versus short-term returns.
 Knowing When to Pivot: Why it’s critical for property owners not to become emotionally attached, which can leave us vulnerable to poor decision-making.
 Three Key Ingredients for Sound Investing:
o Numbers
o Potential
o Equity
 Pros and Cons of Working as a Team:
o Pro: Keeping one another accountable to unsentimental analysis.
o Con: It all depends on finding a great partner, as Emily and Nancy have found, melding flexibility, dynamism and pooled knowledge.
o A good credit score is key.
o Buying a primary residence makes a perfect point of entry.
o Leverage mortgages expands access.
o Develop a sharp network of agents who are keeping an eye out!
o Stay local to maximize control of and visibility on properties.
o Learn the management process now - become more hands-off later.
Notable Quotes:
“I don’t think I picked real estate. I think real estate picked me.”
“Real estate is a living, breathing thing and it changes every single day ... and you have to keep your finger on the pulse of what’s going on.”
“You have to learn when you start investing in real estate to switch the way you think –from emotional to what’s logical.” “We’re both highly motivated and know what we want, so when an opportunity comes along it’s very easy for us to pull the trigger.”
“The beauty of real estate is leveraging and using equity to collect more properties.”
“You can’t start in real estate if you have really terrible credit. It’s a much longer journey.”
“No one is going to know more about a specific area and property than someone who works the area, sifts through properties, sees what’s going up and sees what they’re selling for on a day to day.”
Relevant Links/Further Resources:
Check out Nancy’s unique, highly successful mimosa bar, Pur Zen.
Contact Emily & Nancy:
Email @ Boss Ladies Investing.
Follow Host Juli St. George:

https://linktr.ee/julistgeorge

https://linktr.ee/julistgeorge

Previous Episode

Flood Zones - What to Know with the Flood Insurance Guru!

The Perfect Property – Chris Greene, The Flood Insurance Guru

Summary:

If you’ve ever wondered whether you should have flood insurance, the answer is yes! This episode of The Perfect Property features Chris Greene, The Flood Insurance Guru, who covers all things flood-related. Whether the source is a pipe burst inside or an epic rain event, there are baseline factors that every homeowner (or prospective homeowner) will want to weigh.

The good news is that being in a flood zone isn’t a non-starter. The Flood Insurance Guru is all about providing education and resources to equip homeowners with the tools they need to mitigate risk and minimize impacts for which insurance coverage is minimal or non-existent. There are realities that investors need to factor into their business plan and realtors will need to incorporate in the sales process, whether on the buyer or seller side.

You can locate flood zone information for your home address by clicking here. Additional maps and other Flood Insurance Guru resources are available here.

What You’ll Learn:

· Exactly what IS a flood zone? Short answer? Everything! (0:45)

o A and AE (also known as 100-year) flood zones are high risk and most common in Atlanta.

o B flood zones (generally coastal Georgia) are considered moderate risk.

· The type of flood zone designation in which a property lies impacts its value. (6:50)

· Why flood/elevation certificates are optional – but important (7:52)

· About what to do (and how to potentially save some money) if updated mapping suddenly redefines a property you already own as falling within a flood zone.(12:17)

· What’s not covered by most insurance: Mold mitigation and anything stored in a basement. (15:35)

· Should you buy property in a flood zone? Yes! (16:05)

· If you’re considering a house located within a flood zone, it’s all about education, disclosure and mitigation. Ask for flood loss documentation from current owners. (16:40)

· Who needs flood insurance? Everyone! Why? (20:42)

· There is no centralized repository to search a property’s flood claim history, but if you’re the owner it’s possible to request a list from the Federal Emergency Management Administration (FEMA). (22:58)

Key Quotes:

“AE is your highest risk flood zone when it comes to non-coastal areas ... one in every 100 chances within a given year a property could possibly flood.” (1:45)

“We teach people what their flood risk is, how to understand it, what the flood options are and, if a flood does occur, we walk people through how to get disaster assistance.” (13:12)

“The key with flood is that it has to inundate the property. It has to come from outside the property and generally can’t come from ground water. It has to be surface water.” (20:20)

Contacts & Further Resources:

Website: The Perfect Property

Website: The Flood Insurance Guru

Chris @LinkedIn

The Flood Insurance Guru YouTube Channel.

https://linktr.ee/julistgeorge

Next Episode

What you should know about Roofing with Rosie's Roofing

Summary:
On this episode of The Perfect Property we’re tackling all things roofs and roofing – a subject that can be intimidating, anxiety-provoking or both. But our guest, Charlie Yood, is here to educate and empower us to take charge of perhaps the single most important element of our homes – before it’s too late. As president of Rosie’s Roofing and Restoration, he’s all about demystify the components of roofing and helping us avoid making costly mistakes. Charlie shares with Host Juli St. George his top tips for protecting our homes, saving money and asking the right questions when we’re in the process of purchasing a new home. You’ll come away with a comprehensive overview of roofing as well as empowering action items that will extend the life of your roof – and increase the value of your home!
What You’ll Learn:
 All About Charlie: A former professor with a PhD in history, he founded Rosie’s 13 years ago and has since been a community resource in and around Atlanta.
 About asphalt-based shingles (most common in Atlanta and nationwide):
o Entry level: 3-tab shingles. Durable but with a relatively short life expectancy.
Typically come with a 25-year material warranty
o Next tier: Architectural shingle. Laminated layers that provide texture and depth
as well as longevity.
 About modified bitumen (rolled roofing product):
o Tailored to withstand stress on flat roofs
o Similar to a swimming pool liner.
o Compatible with shingles for homes with both.
 Alternative roofing options:
o Single-ply roofing (energy-efficient “cool roof” TPO materials).
o Slate tiles or Spanish barrel tile roofs.
o Classic slate.
o Composite synthetic tiles or slate (much lighter).
o Metal roofing (exposed fastener or standing seam – and it’s important to know
the difference!)
 Whether the orientation of your home impacts your roof’s lifespan. (Hint: Yes!)
 What to expect with Rosie’s inspection process:
o A holistic approach that assesses all components of the roof.
o A physical appraisal conducted by an actual human walking the area.
o Video recordings that enable clients to see exactly what’s going on.
o An emphasis on transparency at every stage.
 Why satellite and drone images are not enough to accurately assess what’s going on
with your roof – or identify next steps indicated!
 Top Three Things to Know About Roofing:
o #1: Roofs are not zero maintenance! They have to be kept clean, especially
removing debris from flat roofs and in critical “valley” areas.
o #2: Roofs should be inspected on a regular basis. While your shingles might look
great, the various components holding them together degrade and break down.
o #3: If you see something that looks troubling, don’t procrastinate! Be proactive
about addressing leaks and other issues before they start to spiral.
 Bonus Tips for Homebuyers:
o Don’t rely on general inspections to identify roof issues.
o Find out from previous owners what company installed the current roof, which
may still be under warranty.
 About Rosie’s Nonprofit: Raise the Roof!
 How horror stories are always the result of delayed maintenance – especially on houses with complicated roof profiles.
 Solar Update: The most exciting trend is towards new shingles that integrate into roofing rather than add-on panels.
Notable Quotes:
 “The orientation of your house really matters! If you have slopes in your roof that are southern facing and western facing, they will not last 25 years.
 “You can’t diagnose a leak by sending up a drone. You have to get up there and – on
the roof, looking at it – really figure out what the issue is.”
 “Water will destroy your house so – if you see a leak – get on it right away!”
 “Want to save money? don’t put off maintenance!”