Financial Freedom with Real Estate Investing

Don’t think you have the time to start investing in multifamily? Anna Kelley is a wife and mother of 4 who worked a demanding full-time job AND built a real estate portfolio on the side, working 82 hours a week for nearly 5 years. She argues that sacrificing your time for a couple of years to buy yourself decades of financial freedom is well worth it. But you’ve got to be willing to take consistent action—even when it’s hard.

Anna is a seasoned real estate investor with a rental portfolio valued at $12.5M. She is also an Amazon bestselling author and sought-after speaker in the realm of buy-and-hold investing, creative financing, vacation rentals, women in real estate, and multifamily investing. Anna has coached several new investors through their first deal, and she is dedicated to educating others on the benefits of multifamily real estate investing.

Today, Anna joins me to discuss how she executed on a 5-year plan to quit her job with real estate investing. She shares her new emphasis on work-life balance, explaining how she is still working hard but making time to focus on her health and family. Anna also offers insight on why she struggled with the decision to quit her job and how that uncertainty inspired her to joint venture and scale up. Listen in for Anna’s advice around finding partners with complementary skills and learn how to MAKE the time to achieve financial freedom!

Key Takeaways

How Anna’s life has changed since quitting her job

  • No less busy (12-hour days to close on 2 properties)
  • 2-week vacation for first time in years

Anna’s new emphasis on work-life balance

  • Consistent time for self-care + focus on health
  • Slow, methodical growth of multifamily business

Why Anna questioned the decision to quit her job

  • Background as financial advisor, predict recession
  • Job at AIG ‘sole lifeboat’ for family through crash

How Anna got started investing in real estate

  • Clients with most money = real estate investors
  • Protectionary investments to cover expenses (2007)
  • Bought small multifamily in 2008 with rest of 401(k)

Anna’s five-year plan to replace her income

  • Refinance 12-units in 3 buildings already owned
  • Line of credit + equity loan to buy foreclosures
  • Research seller financing, buy 4-unit buildings

Anna’s decision to scale up to larger multifamily properties

  • Reached goal to replace income ($5M in assets)
  • Wanted 6 months of expenses for buildings + year of salary
  • Met partners at event, found 73-unit off-market property

Anna’s investing advice for her younger self

  • Still buy small properties for long-term stability
  • Invest with others sooner, focus on finding deals

Anna’s strategic approach to syndicating deals

  • Target properties in 2-hour radius where know market
  • Expand to other markets once comfortable with process

Anna’s advice around joint venturing

  • Find experienced investor with aligned goals
  • Look for someone with complementary skill set

Anna’s insight for aspiring multifamily investors

  • Be prepared for initial investment of time
  • Got for it but be wise in who partner with

Anna’s response to the lack of time argument

  • You make time for what’s really important
  • 82 hours/week for 4 years with few breaks

How Anna got through the difficult times

  • Change way you get there or timeline, not goal itself
  • Develop resilience and do whatever it takes

Connect with Anna

Rei Mom

Anna on Facebook

Creating Wealth Facebook Group

Resources

Deal Maker Live

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Kyle Wilson’s Inner Circle Mastermind

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Turn Your Setbacks into Comebacks by Rick McDaniel

Grant Cardone on School of Greatness EP802

Alan Schnur on Apartment Building Investing EP116

Elite Investors Club

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Direct download: ABI_168.mp3
Category:Commercial Real Estate -- posted at: 3:59pm EDT

The beautiful thing about achieving financial freedom is that it gives you the means to give back. Of all the investors I know, the majority who quit their jobs with multifamily go on to pursue a greater purpose, using real estate as a vehicle to make other’s lives better.

Reed Goossens is a real estate entrepreneur and Managing Partner of Wildhorn Capital. He moved to the New York from his native Australia in 2012, and since then, Reed has grown a portfolio of 1,100 multifamily units. He has been involved with $500M-worth of large-scale commercial construction and development projects in Australia, the UK and the US. Reed is also the host of the Investing in the US podcast and author of Investing in the US: The Ultimate Guide to US Real Estate.

Today, Reed joins me to discuss how his life is different now that he’s financially free and why he’s using the platform he created through real estate to raise cancer awareness. He also weighs in on the difference between productivity and activity, offering insight around the best use of your time as a syndicator and the value in firing yourself from repetitive or administrative tasks. Listen in to understand how Reed’s definition of success has changed to focus on his evolution as an entrepreneur and learn the #1 factor that helped him build a substantial multifamily portfolio!

Key Takeaways

Reed’s mom’s inspiring advice

  • We’re not here to muck around
  • Live life without regrets

Reed’s journey to financial freedom

  • Pulling hair out in cubicle
  • One-way ticket to NYC in 2012
  • Required hard work + hustle

Reed’s insight on productivity vs. activity

  • Being busy ≠ effective work
  • Define black, blue and red zone

The best use of your time as a syndicator

  • Find partner with complementary skill set
  • Build systems and expand business

Reed’s first hires as a multifamily investor

  • Underwriting interns to analyze deals
  • VAs for bookkeeping and admin tasks

The activities that Reed categorizes as ‘black time’

  • Thought leadership (e.g.: speaking, masterminds)
  • Get in front of investors as face of business

How Reed’s definition of success has changed over the years

  • Commit to doing things well without goal in mind
  • Focus on evolution as entrepreneur

Reed’s mission now that he’s achieved financial freedom

The #1 factor in building Reed’s 1,100-unit portfolio

  • ‘Fool and their money easily parted’
  • Always continue to learn

Reed’s advice for building a successful brand

  • Lean in to what makes you different
  • Credible reputation = recession-proof

How Reed is building a multifamily business ecosystem

  • Bulk order supplies for renovations
  • Bring construction management in-house

Connect with Reed

Reed’s Website

Wildhorn Capital

Investing in the US Podcast

Investing in the US: The Ultimate Guide to US Real Estate by Reed Goossens

Resources

Reed on Apartment Building Investing EP033

Upwork

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

UN Global Goals

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

Deal Maker Live

Nighthawk Equity

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Direct download: ABI_167.mp3
Category:Commercial Real Estate -- posted at: 8:41pm EDT

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