EP34: From Hotels to Homes: Andrea Foley's Innovative Solutions for Affordable Housing and Wealth Building

01/16/24 • 36 min

Experience a revelation in tackling the housing crunch as Andrea Foley, a maverick in the realm of hotel conversions, joins us to unfold her inventive approach to creating affordable homes. Her journey, from diapers to development, is not just a tale of architectural transformation but a blueprint for cultivating financial acumen. We delve into Andrea's personal narrative, shaped by her father's construction legacy, and discover how her entrepreneurial acumen is addressing the pressing need for cost-effective housing, while also nurturing the roots of financial literacy in her children and through her 'Raise Millionaires' project. Prepare to be inspired by this powerhouse who's not just reshaping the skyline but also the financial future of generations to come.

Andrea started a business back in 2007 with a $2,000 credit card limit. She grew it to annual sales of half-a-million and sold it in 2022. She also worked as a "turn-around" business consultant helping small business owners improve their sales, operations and finance. Aside from the projects listed here, Andrea and Axel have done single-family flips, renovations on residential and commercial buildings, bought and sold a single family rental portfolio and even "house hacked" before their oldest was born. Andrea also worked on a 92-unit townhome development when she was right out of college!

Reach out:

Web: https://www.investwithgwc.com

Podcast: https://www.raisemillionaires.com/

Show notes:

(2:30) 3 interesting facts about Andrea

(7:45) A problem Andrea is trying to solve

(12:06) Hotel conversion business

(19:46) Finding the right hotel to convert

(26:23) How Andrea thinks outside the stocks

(28:42) Rapid fire

(34:20) Where to find more of Andrea

(35:36) Outro

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Disclaimer: This podcast is for education and information purposes only, not an investment opportunity or financial advice. Please do your own due diligence and consult your tax, legal or financial advisor, etc., to invest.

Reach out:

Web: https://www.investwithgwc.com

Podcast: https://www.raisemillionaires.com/

Show notes:

(2:30) 3 interesting facts about Andrea

(7:45) A problem Andrea is trying to solve

(12:06) Hotel conversion business

(19:46) Finding the right hotel to convert

(26:23) How Andrea thinks outside the stocks

(28:42) Rapid fire

(34:20) Where to find more of Andrea

(35:36) Outro

Previous Episode

EP33: From CPA to Real Estate Mogul: Mathew Owens' Journey and Investment Strategies

Are you ready to revolutionize your passive investing strategy and confidently navigate the intricate world of real estate? In this episode, host Madhavi Jain engages in a dynamic conversation with real estate expert Mathew Owens. As a former CPA and seasoned investor, Mathew shares invaluable insights into a successful investor's mindset, risk mitigation strategies, and tax-efficient approaches for passive investors. Have you ever wondered about the critical factors to consider in the current market cycle or how to thoroughly vet operators before making investment decisions? Join us as Mathew delves into multifamily opportunities, the art of calculating risks, and the game-changing tax strategies that can elevate your financial journey. Get ready to think beyond traditional investment avenues and explore the wealth-building potential of real estate with Mathew Owens.
Mathew Owens (Chief Executive Officer) earned his B.A. in economics with emphasis in accounting from University of California, Santa Barbara and has been a certified public accountant since 2002. Mathew bought, renovated and sold or held over 700 single family properties having 10+ years of experience in property management and 15+ years of experience in taxation, auditing and real estate. Mathew is currently buying 5+ single family rental properties per month, acquiring and operating value-add multifamily properties. He is a private lender with over $10M lent in multiple markets across the U.S. and has raised over $75 million in private investor capital. He currently owns over 130 units in Memphis, TN, Atlanta, GA, and St. Louis, MO.
Reach out:
Web: https://mathewowens.com/
LinkedIn: https://www.linkedin.com/in/mathewowens/
Show notes:
(2:22) Mathew’s fun facts
(5:20) Why Mathew wishes he got into syndication faster?
(9:50) The biggest factor to keep in mind when investing
(14:22) Calculating risk in a deal
(18:58) Tax strategies for passive investors
(22:43) How Mathew thinks outside the stocks
(25:35) Last advice for passive investors
(26:42) Outro

Next Episode

EP35: Turning Gold into Generational Wealth with Industry Expert Dana Samuelson

Ever wondered about the captivating journey from an 'unhirable' grad to a $2 billion gold titan? Join Dana Samuelson as he explores the enduring allure of gold in a shifting economic landscape. In this episode, Dana recounts his illustrious career under the mentorship of a gold ownership advocate and delves into the timeless charm of gold. Dana shines a light on the darker aspects of its allure, addressing the environmental toll of gold mining and the exhaustive efforts required to procure this precious metal. We also talked about the allure of cryptocurrencies. While digital currencies present ease of transfer and a break from traditional banking, they can't eclipse the established stability and tangibility of precious metals that now captivate even the tech-savvy, younger investors. We wrap up with a coin collector's dream, delving into the intriguing world of rare coinage, and leave you with thoughtful insights on diversification in wealth preservation – closing with the resonant message that a diversified portfolio is more than just a good strategy; it's a legacy in the making.
With 42 years of experience in precious metals and rare U.S. gold coin buying and selling, Dana Samuelson leads the American Gold Exchange. Renowned for its impeccable national reputation, Dana's company stands out for integrity, consistently high service, reliability, and transparent pricing. He holds endorsements from national newsletter writers, educational conference promoters, and private investors in various industries. Dana, quoted in Forbes and Market Watch and featured on Fox Business, is a sought-after speaker on precious metals and macrofinancial market analysis. As a past president of the Professional Numismatist Guild, the leading organization of rare coin dealers in the US, Dana brings extensive expertise. Notably, he played a pivotal role in assisting the CFTC in their investigation into an allegedly fraudulent national precious metals dealer, with his declaration of fact instrumental in the seizure of the business, and the ongoing prosecution attests to his commitment to industry integrity.
Learn more:
https://www.linkedin.com/in/dana-samuelson-64793056/
https://www.amergold.com/
[email protected]
Show notes:
(2:00) Fun facts about Dana
(6:20) Historical journey of gold prices
(12:22) Possibility of gold confiscation
(14:59) Gold's journey from mines to coins
(18:35) Tax implications of buying and selling gold
(20:44) Comparison wit