Today's guest for episode #3 of “Successful Women in Real Estate Investing” is full-time real estate investor from the Dallas-Fort Worth area Lolita Sheriow.
Like me, Lo loves wholesaling, but that is not all she does. She is a mentor, a coach, an internet marketer and she is the author of a brand new book called “21 Steps on How to Take Action and Get Results in Real Estate”.
Wholesaling as everyone knows is a method for buying property at deeply discounted prices. What happens next is the real magic of this strategy. You get to choose how you make money on the property.
You can keep this smoking hot deal for a long-term rental and have passive income each month you own the property. Or if you want a quick chunk of cash, you can pass it on to another real estate investor. That's what makes wholesaling such a great strategy. You can keep the properties you want, and make some quick cash on the ones that don’t fit your buying criteria.
The 4 Questions
What made you choose the niche you invest in today?
There are so many different opportunities to get motivated seller leads. That’s why I love wholesaling. There are different options of being able to help sellers as well. If they are motivated and not enough room to wholesale I can offer different options to help sell their homes and still make money.
Did you try other investing strategies before settling on the main strategy you focus on today?
I bought and purchased my 1st buy and hold property the first year as a real estate investor. I enjoyed the process and still have that rental to this day and enjoy cashflow but I love wholesaling more because you are in and out but I do like buy and hold as well because I can create long-term cash flow.
What is the best advice you could give someone “brand spanking new”; someone just getting started?
If you can invest in a good coaching program and/or a mentor, you will cut a lot of time from making mistakes. If you can not afford a coach go online and google local real estate investing groups, attend meetings and start to network with other investors as well. There’s a ton of good free resources online you can download and study but try to focus on 1 niche in real estate first. Don’t try to learn wholesaling, owner financing, flipping property’s, subject 2 all at one time. You will get frustrated and be more likely to quit. I have a book that will be released soon titled “21 Steps on How to Take Action and Get Results in Real Estate”, this is a great book for new investors to help them not spin their wheels but have a step-by-step action plan to help them get results. Seasoned investors could also use this book to help the get “unstuck” if they have been in business for a while but not growing.
If you had to start over today, what would you do differently?
I would have borrowed the funds to invest in a solid coaching program or a mentor instead of trying to do a lot by myself. I would have saved a lot of money, frustration and time.
Lolita Sheriow “aka” Lo, Founder/CEO of Harrtstone Management Inc., has been investing in real estate since 2007. She has been involved in more than 250 transactions. Harrtstone Management Inc. is a real estate investing company that buys and sells houses throughout the DFW area and abroad.
Lo is the author of the book “Take Action: 21 Steps on How to Take Action and Get Results in Real Estate”, and she is also the creator of the podcast show “Learn to Kick Fear to the Curb with Lo”. Lolita is also an online marketing pro and helps businesses and entrepreneurs with their brand and creates marketing strategies to help increase their visibility online to get more leads.
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