On today’s show: accelerated wealth-building through leverage and systems!
Palak Shah walks us through how she built a $4M portfolio in just three years by "supercharging" the BRRRR strategy.
Palak left a career in corporate America to focus full-time on real estate in the Philadelphia area, and she applied her training as an engineer to create airtight processes that help her business run without her.
You’ll love hearing how she finds deals from wholesalers on Facebook, why she’s not afraid to sell off some of her BRRRR properties, and how she creates checklists to determine whether a deal fits her criteria.
Also, we discuss how to beat “analysis paralysis” by remembering her acronym “A.B.L.E.”
Palak is a relatable, inspiring investor who offers great tips for anyone hoping to transition away from a 9-to-5… so check out this episode today, and share it with a friend or family member!
In This Episode We Cover:Leaving her corporate job to take more control over her timeWhy she’s OK paying capital gains tax rather than using 1031 exchangesFlexing your “risk-taking muscle”Using hard money for BRRRR projectsCreating “templates” to make investing easier over timeCriticisms of the BRRRR strategyWhy she sells off some of her BRRRR propertiesUsing local banks and credit unionsHer mantra: “Fortune favors the finance-savvy”How her systems allowed her to buy 2 properties from IndiaHer “A.B.L.E.” method to escape analysis paralysisHow she bought 9 units for 40% off the list priceHow she used a home equity loan to borrow $160KAnd SO much more!
Links from the ShowBiggerPockets ForumsBiggerPockets WebinarFear-Setting: The Most Valuable Exercise I Do Every MonthHow to Make $100,000/Year with Fixer-Upper Rentals (by Buying Only 2 Properties Annually)Microsoft ProjectRedfinHustle & Persistence To Build Wealth Through Real Estate | BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David GreeneBiggerPockets Podcast 362: Big Goals? Here’s How to Get Your Spouse or Partner on Board with Jay and Wendy Papasan
Check the full show notes here: http://biggerpockets.com/show368