367: Quitting Retail to Flip, BRRRR, and Design with Kara Beckmann
7X-ing her income by leaving a so-so job to flip houses!
Today’s guest is Kara Beckmann, a rehabber and rental property investor who’s tearing it up in Scottsdale, Ariz., and on her Instagram page @beckmannhouse.
You'll be inspired by Kara's journey from pastry chef to retail worker to full-time investor funding deals with private and hard money. Kara shares some great tips for networking with wholesalers and builders to snag deals (to date, she's spent $0 on marketing).
You'll also learn how she maximizes profit by sticking to her rehab budgets, how she keeps contractors on deadline, and how she manages risk by outlining several different exit strategies.
Kara's story will motivate you to apply your own "unique ability" to your real estate business and overcome the fear that might be stopping you from doing your first or next deal!
Enjoy this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won't miss the next one.
In This Episode We Cover:
- How Kara learned saving habits at age 14
- How she started thinking like an entrepreneur while working in retail
- How she was motivated by not getting a raise in 5 years
- Buying her first deal for $50K below asking price
- Reinvesting profits from her first flip
- Her apprenticeship with a general contractor
- How she develops a scope of work and deadline
- Why she doesn’t spend any money on marketing
- Her networking tips
- The challenges of investing without W-2 income
- How she prepares several exit strategies for each deal
- Where she gets inspiration for her designs
- How she sticks to her budgets (the “price per square foot” method)
- Incentivizing her contractors to complete work on time
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Money Podcast
- BiggerPockets Podcast 365: Ret. Navy SEAL Jocko Willink on Embracing Discomfort and Leading Through Extreme Ownership (+ His Real Estate Investing Tips!)
- BiggerPockets Conference
- Zillow
- Realtor.com
- TikTok
- Email: podcast@biggerpockets.com
Check the full show notes here: http://biggerpockets.com/show367
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