August 7, 2014 in Successful Women in Real Estate Investing
My guest for today is for the 5th issue of “Successful Women in Real Estate Investing” is Kathy Kennebrook. Kathy is an expert in marketing and is known as the “Marketing Magic Lady”.
Kathy is a mentor, a coach, and author and has created a number of marketing products to help real estate investors find their own path to “Marketing Magic” in their business. Most folks that do direct mail marketing in their real estate investing businesses will be familiar with her and have quite likely learned a thing or two from her.
I am really happy to have her weigh in on my 4 questions in this “Successful Women in Real Estate Investing”.
The 4 Questions
What made you choose the niche you invest in today?
I have always preferred investing in single family homes because of the flexibility I have when creating the deal and the exit strategy. You can buy fix up and flip, rent, lease/option, or offer owner financing on these homes. I am a transaction engineer so I use creative strategies when buying whatever type of deal that comes our way. Sometime I lease/option or create owner financing with the sellers when I purchase, sometimes I use private lenders to fund our deals and sometimes the seller will simply deed me the home for the balance of the mortgage. So I love the creativity we have when buying single family homes.
Did you try other investing strategies before settling on the main strategy you focus on today?
I pretty much started my investing career with single family homes although we also buy condos, town homes, vacant land, duplexes and multi-family. It’s all about doing the deal if it makes sense, makes a profit and is a win win for all involved in the deal.
What is the best advice you could give someone “brand spanking new”; someone just getting started?
- Just do it! I found every reason to procrastinate when I first got started and I lost almost a year of momentum in my business.
- Work with a mentor. I offer mentoring services for my students and I find that they get a lot more deals done and make a lot more money when they are held accountable. I had a mentor shortly after I started my real estate investing business and all of a sudden I had a specific direction and someone to hold me accountable so I got a lot more deals done and started making money a lot more quickly.
- Get involved with your local real estate club. There are lots of great resources for you at these meetings
If you had to start over today, what would you do differently?
If I had to start over today I would jump on board immediately. I would implement a targeted marketing plan just like the one I use to today to bring in lots of motivated sellers. I would use a mentor sooner than later to get my business moving a lot more quickly.
You can connect with at KathyKennebrook “The Marketing Magic Lady” by Clicking Here…..
Kathy is one of the nation's leading experts at finding motivated sellers using many types of direct mail marketing. She holds a degree in accounting and co-authored the book Walking With the Wise Real Estate Investor which also includes real experts Donald Trump, Suze Orman and Ron LeGrand.
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