Insider Secrets with Megan Hillis

<p><strong>Standout Quotes:</strong></p> <p>"It's so easy for work to consume you, so it's about being able to say 'hey, you know what, my family is the reason I'm doing this, so let me take a step back and appreciate my time with them'."</p> <p>"Real Estate isn't on trial, take the action needed to accomplish your goals"</p> <p>"You get in the habit of saying I can't do something... but instead of having that mentality say 'How can I do this?'.</p> <p>"Don't let your emotions drive your business, drive your business based on logic"</p> <p>When you come in and buy a community, the last thing on my mind you should want to do is replace staff"</p> <p><strong>Key Takeaways:</strong></p> <ul> <li>Family is the focus and inspiration for Megan</li> <li>It's not always about 'what can you do for me?' but also 'what can I do for you?'</li> <li>Megan notes she had a consumer mindset and not an investor mindset and this had to change</li> <li>The role of Networking and nourishing relationships</li> <li>It is important to have a good relationship with brokers, they can make a deal as easy as they want or as hard as they want</li> <li>Do your research on a market, look out for the population and for new businesses coming in</li> <li>Megan shares that her company is big on over-promising to overdeliver</li> <li>The "Change Over Period" where you're going to lose your current demographic of tenants when you start pushing rates</li> <li>Megan stresses the importance of going to the site of the property to see for yourself and evaluate it properly, because pictures may not do justice in representing things the way they are on the ground</li> <li>The Big 3s: (DSCR, Cash on Cash, Overall Returns) that are factored in before deciding to take any deal</li> <li>Megan's insider secret tip: Network with your property management teams because they can tell you what's really going on</li> <li>For new investors: Don't be scared to put yourself out there, people are going to reject you but don't let that discourage you because you deserve