My guest today is Chicago investor, Farrah Ali. Farrah is a single mom with a full-time job that requires a long daily commute to downtown Chicago. At the same time, she has been successful in building an impressive portfolio of 28 rentals, she is completing her second flip, and she has done 16 wholesales.
What’s her secret? You’re going to find out in this show.
Show Notes – Building a Rental Portfolio
Here is some of what we covered in this show:
- How she first learned about real estate investing
- Buying her first house with only a few hundred dollars in the bank
- Why having a strong “why” is so important to your success
- Choosing her first investing strategy out of necessity
- Her first deal
- Why having a mentor is crucial to your success
- How losing her job caused her to pivot and change investing strategies temporarily
- How Farrah scaled up the over the last 6 years
- Building a rental portfolio of 28 buy and hold properties, 1 flip, and 15 wholesales in just 6 years
- The importance of aligning yourself with private money lenders if you want to scale your business
- Her plan to pay off all her rentals in about 7 years
- Co-founding We Win, a REIA group specifically for female investors and a non-profit that will help other investors
- Final advice for anyone wanting to model her success
Here's Your Video – Building a Rental Portfolio of 28 Houses in 6 Years with Farrah Ali
Rather watch? You can do that here.
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While most people can’t handle one job, Farrah Ali has three. During the day she is a full-time insurance professional, and at night she is a full-time investor. To top it all off, the most important job for her is being a single mother to her 2 kids. Where she finds the time to do all that she does is still a mystery. Farrah has been a crucial piece to the growth of Chicago REIA since the beginning. Her journey with investing started in June of 2014. Now just 6 short years later, she has built a portfolio of 28 rental properties, she is completing her second flip, and she has done 16 wholesale deals in the past year.
If you would like to reach out to Farrah you can email her at: WeWinChicago.org or at Farrahali777@gmail.com
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