408: Full-Time Income on a Part-Time Schedule with Emma Powell

<p>Ever wonder how your family would manage if you or your spouse lost your job? <strong>Emma Powell </strong>faced that reality head-on. She knew she needed "full-time income" while continuing to spend time with her family... and she knew<strong> real estate investing</strong> would be the vehicle to get her there.</p><p>Today Emma shares her journey from part-time photographer to multifamily dealmaker – how she got in the game by joining a REIA and immediately <strong>loaning money</strong> to an experienced investor (we discuss the right and wrong way to do this); her #1 piece of advice when <strong>meeting with a potential mentor</strong>; and her foray into the world of <strong>lease option </strong>("rent to own") deals.</p><p>Plus – Emma shares her perspective on how to <strong>choose a niche</strong> that suits your strengths (<strong>wholesaling</strong> wasn't for her; <strong>syndication </strong>and bigger <strong>commercial deals </strong>were a better fit).</p><p>This is an inspiring story of someone who experienced a financial wake-up call, and went <strong>from total rookie to syndicator</strong> in just a few years... all while homeschooling 6 kids. Enjoy this one, and we'll see you again on Sunday!</p><p>In This Episode We Cover:</p><ul><li>Emma's reaction to her husband being <strong>laid off</strong> from his tech job</li><li>What a Real Estate Investor Association (<strong>REIA</strong>) Meeting is</li><li>How she's found nearly all her deals by simply <strong>networking</strong></li><li>Due diligence when <strong>loaning money </strong>to an investor</li><li>What <strong>lease options</strong> are</li><li>What a <strong>"due on sale" </strong>clause is</li><li>Closing a <strong>great deal</strong> after a seller was burned by wholesalers</li><li>Her <strong>passive income</strong> goals for the future</li><li><strong>And SO much more!</strong></li></ul><p>Links from the Show</p><ul><li><a href="http://biggerpockets.com/forums" rel="noopener noreferrer" target="_blank">BiggerPockets