422: From W2-Job Single Mom to Flipping Real Estate Rockstar with Amanda Young
Amanda Young stumbled into real estate. After being let go from a job, dealing with a family emergency, and homeschooling her son, Amanda knew that she had to find a way to provide for her family, but also allow her to discover her hidden edge. After finding BiggerPockets and joining a local REIA (real estate investors association), she decided to take the jump and buy her first rental. Now, in 2020, she has 7 rental properties and a flourishing flipping business, working with a partner that matches her energy. Amanda found her localized niche by targeting owners of “sinkhole homes” and offering them deals that not only made sense for the buyer, but were a steal for her. She then used creative financing (really creative) to get these homes under contract. Amanda is the definition of someone who has grit, and is willing to work hard to earn their piece. She talks through Section 2 deals, 1031 exchanges, refinancing, and even how to “COVID-Proof” your tenants, so when the next global emergency happens, you’ll be ready. In This Episode We Cover: How to fight your analysis paralysis and get deals done What probate deals are and how to find leads Why owner financing can be a win-win for buyers and sellers How Amanda found a niche in “sinkhole homes” Why it’s important to find a niche that others would run from How to “COVID-Proof” your rental properties Getting ahead as a woman in a male-dominated industry (flipping) Empathizing with the seller so you’ll win negotiations (even with less money) And SO much more! Links from the Show BiggerPockets Forums David's Instagram Brandon's Instagram BiggerPockets Podcast Sinkholes: Swallowed Alive (Discovery Channel) BiggerPockets Podcast 412: Start Investing in Large Multifamily? How to Do it, and Why (or Why Not) with Ashley Wilson Check the full show notes here: https://www.biggerpockets.com/show422 Learn more about your ad choices. Visit megaphone.fm/adchoices