Women Invest in Real Estate

Hey friends, welcome back to another WIIRE episode! We are chatting this week with our friend Stacey St. John who shares with us how she built her STR team after starting out with an accidental rental! Located in Cincinnati, Stacey invests in the Myrtle Beach, South Carolina and Hocking Hills, Ohio markets. She started her investing journey in 2018 and pivoted into the STR market in 2020 and now owns 10 short-term rental properties and manages 34!

We talk about the community Stacey has built and how she has trained her team to manage her entire portfolio, so you won’t want to miss a second of this interview.

Thanks for tuning in, we’ll catch you next time!

Resources:

• Use Backflip in your REI biz
• Connect with Stacy on Instagram
• Visit Stacey’s Website
• Check out Monday to get your business organized
• Leave us a review on Apple Podcasts
• Leave us a review on Spotify
• Join our private Facebook Community
• Connect with us on Instagram

Hey friends! We’re joining you today with something many have been asking for for a very, very long time... a LIVE coaching session! In this episode Grace is getting LIVE feedback from Amelia on a potential pivot she is considering in her REI business. For context, Amelia was given no background, only a slight heads up that this was happening, so you will be getting very real and raw responses and reactions.

This episode is super special and probably one of the most fun episodes we have done (you know how much we LOVE the hot seats that happen at our WIIRE Retreats), so we hope you love it!

Plus, we are sharing some BIG deets on the WIIRE Community, which is coming in HOT!

Thanks for listening, friends!

Resources:

• Check out Baselane for your REI biz
• Get your name on the waitlist for the WIIRE Community
• Leave us a review on Apple Podcasts
• Leave us a review on Spotify
• Join our private Facebook Community
• Connect with us on Instagram

Welcome back to another episode of the WIIRE Podcast. We hope everyone had a great New Years and we are so excited to jump into 2023 with all of you! This week on the podcast we are going to talk about some of the mistakes we made in our businesses in 2022 and how we are going to fix them moving into 2023.

Mistake #1: Bookkeeping

This year we both learned exactly how important it is to either outsource your bookkeeping tasks entirely or set yourself up with a strong bookkeeping foundation from the get-go, in your business. Bookkeeping is something that never stops which means that you really need to stay on top of it so you don’t continue to get further and further behind.

If bookkeeping is just not your jam, we get it. But in this case, we highly recommend outsourcing your bookkeeping early on, to make sure your finances are kept in order, track your expenses, etc., especially come tax season.

If you plan to track your expenses and manage your books internally, that’s great! But make sure you set yourself up with a strong foundation either by using a bookkeeping platform and setting up a bookkeeping routine you can stick with, or outsourcing setting up your system and having them teach you how to manage it yourself.

Mistake #2: Putting Things On Hold For The Next Big Thing
Long story short, Grace’s deal to purchase the manufacturing business didn’t pan out, and while they were out time and some lawyer fees, the biggest bummer was that they had hit pause on so many things they could have been doing. They could have purchased more rentals, upped their equity, cash flow, etc. Our biggest piece of advice here is to always keep moving.

Mistake #3: Not Having a Daily Routine/ Structure

Being self-employed has amazing perks, one of which is the freedom to design your own lifestyle. The challenge is that it can be super easy to fall into the trap of not getting as much done as you could because you don’t have a daily routine or structure for your day, to allow you to be as productive as you could be.
In 2022, we both learned that by actively blocking our calendars, we were able to be so much more productive.

If you want to deep-dive into your relationship with time management so that you can you can live the life you desire without the stress, join Amanda Boleyn’s live group coaching program, Attention Audit, where she will be teaching her 4 P’s to Effective Time Management.

Thank you for joining us for our first episode in 2023! Catch you next time!

Resources:

• Join Amanda’s Beta Group Coaching Program Attention Audit
• Connect with us on Instagram
• Reserve your spot for our retreat in Salt Lake City

Hey everyone! Welcome back to episode 17 of the Women Invest In Real Estate podcast. In this week's podcast episode we're going to be talking all about how you can make your mid-term rental stand out in a saturated market. This is such a great question and so relevant right now because the mid-term rental market is on the verge of some fierce competition and it’s super important to make sure that your listing stands out among others to keep your occupancy rate high and vacancy level low. You won’t want to miss this!

Tip #1: Post great photos

While we’re both guilty of not following this rule, if your MTR is in a highly saturated market we highly recommend investing in a professional photographer to take your listing photos. If you must take the photos yourself using your cell phone here are a few good rules of thumb to follow: use landscape mode, make sure your finger is not in the photos, take photos of small details (washer/dryer, kitchen utensils, etc.), and always brighten your photos.

Tip #2: Accept pets

We have learned that many travel nurses travel with furry companions and you can do things like requiring an additional non-refundable pet deposit and charging monthly pet rent to keep your listing in demand and keep the tenants happy to have their pets with them.

Tip #3: Provide laundry access

Nurses, specifically, do a lot of laundry. They can’t go to their hospital shift in a dirty pair of scrubs and having to sit at a laundromat outside of their working hours is less than ideal. Also, generally, the first amenity people look for, is laundry. So if you can swing it, and you’re in a saturated market, invest in putting a washer and dryer in your unit (or have a shared laundry space).

Tip #4: Add a security system

Many of our travelers are solo travelers and having that extra security feature can help people feel much more comfortable and safe when they are traveling in large cities. Also, some insurance companies offer a discount for having an active security system installed.

Tip #5 Update small touches

Small changes can make a big impact, without making a big dent in your wallet. Update light switch plates, cabinet hardware, faucet heads, and outlet covers; even simple ceiling fixtures can be a nice bonus to travelers (ceiling fans are big sellers!).

Tip #6 Focus on the bathrooms and kitchen

A big visual point in any property is the kitchen and bathrooms. Investing in even small updates in those spaces can go a long way.

Tip #7 Create an inviting outdoor space

After working a long shift in a hospital or corporate office, traveling professionals enjoy having their evening meal or even their morning coffee on a nice patio. Add a bistro table and chair set and this will help your unit stand out amongst the competition. It's so nice to have just that little outdoor space where you can spend time.

Tip #8 Write a detailed description (that sets the mood)

The more details you can add to a description the fewer questions people will have. They know what to expect which is a huge draw for a potential tenant. Help them envision what it looks like to live there: “enjoy your coffee outside on our shaded patio in the mornings and evenings”. Put yourself in the tenants’ shoes and answer the questions before they are even asked.

Tip #9 Make the barrier to entry low

Make your responses and communication timely; the application process easy; the deposit process seamless, and never wait to respond to questions and inquiries. If you wait more than 1-2 days, chances are that tenant has already moved on.

That’s all for this week. If you have any questions feel free to reach out to us on Instagram.

Thanks for listening and we’ll catch you in the next episode!

Resources:

• Join WIIRE inside The Community
• Connect with us on Instagram

Hey there, friends! Grab your favorite beverage and be ready to take notes because in this podcast episode, we are joined by guest Erin Foudy. Erin is not only our friend, but a WIIRE community member herself, and in this episode, she’s talking the importance of community, and how the WIIRE Facebook Group played a factor in her REI journey, as well as shares her personal transformation from a WIIRE Retreat.

Erin is the queen of killing the 1% rule and owns 6 units across 3 states, investing in Missouri, Arizona, and Colorado. Erin is sharing her story on how she went from being $40k underwater in her first investment home to absolutely killing it in the world of real estate investing. Her story is a perfect example of how ‘time heals all’ in real estate. She also shares the deets on how she funded, refinanced and reused her money to keep her momentum consistently moving the needle forward.

Want to know more about Erin? Connect with her over on Instagram, and also follow her Colorado Vacation Rental Insta account as well!

Thanks for listening, we’ll catch you next time!

Resources:

• Use Backflip in your REI biz
• Connect with Erin on Instagram
• Get inspired by Erin’s Colorado Vacation Rental Insta account
• Leave us a review on Apple Podcasts
• Leave us a review on Spotify
• Join our private Facebook Community
• Connect with us on Instagram