From House Hacking to 41 Doors with Meghan McCallum
Meghan McCallum left the fire service after 14 years, walking away as a chief, she now leverages her risk analysis from her experience and from her Masters degree from the University of Chicago in Threat Response and Management into her investing career. A full-time real estate investor for almost 4 years now with a portfolio of 41 doors, she is partnering into new companies with other investors who specialize in their own niches. Due to her exposure to almost every form of real estate investing she helps drive trends and pivots with her team as change occurs. She is launching the REI Tech podcast as a mission to further the advancement of the real estate industry into the digital age.
Key Lessons Learned: Protect your vulnerabilities in life, not just business. Know that things are going to go wrong, that problems will come up. Work through your what if’s and protect what you can with lawyers and insurance as necessary. Don’t expect real estate investing and strategies to stay the same forever. Things are always changing and we’re seeing that tech may be a significant factor in those changes.
How did they acquire their knowledge or what knowledge did they need to acquire? She gained her knowledge from doing. Her biggest recommendation for what new investors should know, is just to keep learning. Keep doing.
How much money did it take to get started? About $80,000 cash down on a house hacked duplex worth $280,000. That property is not worth somewhere in the $900,000 to $1,000,000 range.
How much time does it take now? She puts in about 5-6 hours a month.
Could they do this strategy from anywhere in the world? As long as she has a property manager and boots on the ground, yes.