Becky Nova didn’t have a linear path to real estate like many others. She’s had times in her life when she was poor and times in her life when she was rich. Becky knew that she didn’t want to go back to those poorer times in her life, so when she was about to marry her husband, she was pushed to get herself out of debt and into a much more stable position. She worked a consulting gig, got herself debt-free, and decided she wanted to start house hacking!
Now, Becky is off in the Dominican Republic, running her entire portfolio of 10 houses completely remote. Even more impressive, Becky used traditional financing for those rental properties! So how does she manage properties all the way in upstate New York while she’s thousands of miles away on the beach?
Well-tailored systems and procedures is what Becky relies on. She refers to her phone as one of the best tools for real estate, since she can call her agent, her tenant, or her contractor whenever she needs something. Becky proves that you can run a rental portfolio long distance, and do it successfully to boot!
This did take Becky some time, though. She designed the life she wanted and made her rental properties fit around that life, which is sometimes the opposite of what us busy real estate professionals do. Now, she can relax and enjoy her time travelling because she put the systems in place to automate her business!
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In This Episode We Cover
- Understanding what you really want and making your business fit your ideal life
- Getting off the “paycheck to paycheck” hamster wheel
- How Becky got 10 units in just over 2 years
- Joining local networking groups and your chamber of commerce to find deals
- How to find the best plumbers, contractors, electricians, and more through referrals
- Having systems in place so your business can run itself
- And So Much More!
Links from the Show
- Listed Price: $250k
- Purchased Price: $280k
- Rental Income: $2600 ($1500 for one unit and $1100 for the second)
- Taxes: $8500
- Insurance: $1200
- Finance: 25% (70k) saved from our other rental properties
- Net Income: $900 a month
Connect with Becky: