Lessons Learned from Out-of-State Investing with Lesley Ray
Just because real estate is expensive where you live, doesn’t mean you can’t invest. Out-of-state investing creates a great opportunity. On today’s episode, we talk with Lesley Ray, full-time investor, on the lessons she learned while growing her portfolio out of state. When investing out of state, having a local solid team is important. We discuss with Lesley why she chose to invest out of state, the key players on her team that help make it a success, the systems she has put in place to grow her portfolio and the story about why she switched from self-managing, to hiring a property manager. Lesley also shares her experience pivoting from long-term rentals to flipping as it more aligns with her interests and experience. Lesley's background in commercial interior architecture has led her to design and manage multi-million-dollar commercial office renovations for some of the world's largest technology clients in the Bay Area, California. After years of designing for clients, Lesley discovered real estate investing and saw the opportunity to be able to design and develop her own projects. Investing in the Bay Area proved to be cost-prohibitive, so she decided to purchase in Ohio where she grew up. She found her rockstar agent and purchased her first duplex in 2019. Since then, she has acquired 3 more properties: 10 doors (individually and with partners). She is excited to continue growing her portfolio as she expands into flipping and development so she can design her own projects. On today’s episode, we discuss a ton with Lesley including: Details about her first property, a duplex in Ohio Why you should request rent rolls during the due diligence period Lesley’s favorite way to communicate with contractors out of state Why she’s choosing to pivot into flipping The key players needed on your investing team Books/Resources Rich Dad Poor Dad by Robert Kiyosaki Contact Information Email- [email protected] Are you ready to Level Up? In 2020, we overcame challenges, pivoted multiple times, and became stronger together. Now, it is time to “Level UP”, continue breaking the glass ceiling and taking our business and most importantly our life to the next level. Join the Co-Founders of The Real Estate Investher® Liz Faircloth and Andresa Guidelli and a bunch of amazing speakers LIVE on June 12th for their 2nd Annual InvestHER Summit! Learn how to turn fear into fuel, strategies to grow your Real Estate Business while you also take care of the most important person in the world…YOU! Buy your ticket today: https://www.therealestateinvesther.com/LEVELUP InvestHER Community Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms. How To Join the InvestHER Movement 1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via Itunes Subscribe via Android Subscribe via Stitcher 2) InvestHER Community on Facebook We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals! 3) InvestHER Meetups Around the Globe We have Investher Meetup members attending in-person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther Learn more about your ad choices. Visit megaphone.fm/adchoices