Introduction:

• Host Dr. TMac welcomes listeners to a new episode focused on demystifying real estate investments for women entrepreneurs and professionals.
• The episode aims to challenge the misconception that a large capital is required to start investing in real estate.

Key Topics and Discussions:

• Common Misconceptions: Addressing the belief that only the wealthy can invest in real estate.
• Personal Experience: Dr. TMac shares her initial feelings of inadequacy in the real estate investment environment and how she overcame them.
• Principles of Real Estate Investment: Starting Small: The importance of beginning your investment journey with whatever resources you have.
• Resourcefulness and Opportunities: Utilizing tools like self-directed IRA accounts for investment.
• Affordable Investment Avenues: Exploring tax sales and low-cost property acquisitions.
• Leveraging Credit and Home Equity: Creative strategies like using credit cards or home equity for investments.
• Joint Ventures and Community: The power of pooling resources and knowledge in joint ventures.
• Education and Community Support: Emphasizing the need for proper education and being part of a supportive investment community.
• Real-Life Cautionary Tale: A story about the pitfalls of inadequate knowledge in real estate investing.
• Business Aspects of Real Estate: Managing real estate as a business with proper documentation and strategy.

Conclusion:

• Reiterating the importance of community, education, and starting with available resources in real estate investment.
• Invitation to join the Rich Friends Circle for further learning and support.

Call to Action:

• Encouraging listeners to explore the Rich Friends Circle with a seven-day free trial for deeper engagement and learning.

Why is it that women think that they need

a lot of money to invest in real estate?

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Um,

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Hey, rich friends is Dr.

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T Mac here and welcome to another

episode of the rich friend show where

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we help women entrepreneurs and women

professionals achieve financial freedom

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and real generational wealth by providing

you with the right tools, the right

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mindset and the knowledge to make.

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Manage and multiply your

money with confidence.

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In today's episode, I'm going to be

exploring why women think that it costs

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a lot of money to invest in real estate

or that they feel like only wealthy

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people can invest in real estate . In

all actuality, that is not the case.

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I did feel that way as

well in the beginning.

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However, I quickly found out that

everybody has to start somewhere.

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So I felt a certain way

sitting in the room.

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with other investors.

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In the beginning, these

investors didn't look like me.

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, they didn't have a job.

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, I felt like, Oh my God, I'm

still working as a nurse.

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I don't think I have enough money.

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And I just had to.

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continue to attend the meetings,

the real estate investment meetings.

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And I had to like work through that

mindset of comparing myself with my

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chapter one with their chapter, maybe

20 or 10 or five, where they'd been

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investing in real estate for that long.

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And I felt like I needed to be

where they were at that particular

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time, but that's not true.

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And.

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Eventually I found that out and I was

able to go out and start investing.

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So I'm encouraging you if that

is something that you wanna do.

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If you have a job, if you're working

a nine to five or a 12 hour shift and

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you feel like you don't have enough

money because you, you know, you think

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you have to have a hundred thousand

dollars or $25,000 to get started in

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real estate, that is not the truth.

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I started with a little bit of money

and I believe that when I first started,

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, I, well, I don't believe I did this.

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I was a , private money lender

and I started lending money out

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of my self directed IRA account.

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For those of you who do not know

what that is, it's an account,

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it's a retirement account that you

control, where your money goes into

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investments and you can invest in

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many things you can, invest

in real estate, commodities.

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You can, other businesses, there's

a whole lot of different ways that

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you can direct your own money.

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But the caveat to that is it has to be a

retirement retirement account where you

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no longer work there and you rolled it.

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Oh, you can roll it over into

a self directed IRA account.

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So yeah.

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I started investing and lending

money out for as little, as little

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as 500, as much as 25, 30, 000.

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So it all depends on where

you are and what you have.

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I talked about in the previous, in the

first episode about being resourceful.

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That is something that a lot of

women In particular, , feel like

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they don't have and that's resources.

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But again, I didn't, I felt like

I didn't have the money either,

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but I did have an old retirement

account, where I could roll over.

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There's so many different ways.

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You don't have to have a lot of money.

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You have to have the knowledge though.

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Later found out that I could

purchase properties really,

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really cheap at tax sales.

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So I started sending my money to tax

sales and I started purchasing those

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properties for as little as a thousand

dollars or less than a thousand dollars.

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But yes, so being able to go

and tap into your resources.

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I did last year, my son and I, we

purchased other properties together.

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I think there are maybe about

nine, I think nine other

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properties full with a credit card.

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So there's so many different avenues

that you can take, utilize your credit,

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you know, utilize the heat lock.

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If you own your property, you can pull

money from the equity in your property

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and get a home equity line of credit.

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And you can start investing that way.

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If indeed you have a property and

you want to buy another property,

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let's say you have a house that you

live in and you want to get in a

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real estate where you can, Do that.

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You can rent your house out, to a tenant,

and then you can buy another house.

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There are so many other

ways and strategies that you

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can get into real estate.

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You can do something called, that's called

house hacking, which means if you have, I

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know I'm from, I'm from South Carolina.

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We have basements there.

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So you can convert a basement to an

apartment and you can rent out the

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bottom, the basement to a tenant.

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And, you can live in the top.

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If you have a duplex.

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You can do the same thing.

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You live on one side, rent the

other side out to a tenant.

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Again, so many different ways that

you can get, get into real estate

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without having a lot of money.

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, which brings me to another point

and that is joint ventures and, . We

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call those JV deals and, , well,

yeah, let's talk about that.

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JV deals where if you don't have a

lot of money, you can pull your money

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together with another investor and

you can invest that way and split the

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profits until you can build up your bank.

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Enough to go and buy your

own personal property.

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, one another thing people feel

like they can do this all alone.

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Listen, rich friend, you

cannot do this by yourself.

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You do need help.

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You need to make sure that you have,

you're in a community that that has

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all the pieces that you're missing.

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There's so many different ways to invest,

but there's also equally that many

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different ways where you can lose your

money if you're not in a safe community

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with other investors who are actually

doing the thing that you want to do.

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so one thing we did when I first

started, , my first community,

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which was the nurse re I club.

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I think there were like 11 of us women.

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We all pulled in, we put in a thousand

dollars, we bought a property,

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we rehabbed the property and we

sold that property, for a profit.

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And that was just a risk

of a thousand dollars each.

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With my inner circle now, what we did

last year, we, we, Got together and

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we met up at a tax sale and all of us

purchased a property at or purchased

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a certificate at the tax sale.

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, there was one of the rich friends in my,

in a circle who's already gotten her, her.

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investment plus her, , return

on her investment because the

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owner of the property came back

and redeemed their property.

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They paid their property taxes.

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So again, it made it a whole

lot easier for the people who

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have never ever purchased.

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a property before to be able

to meet to meet up with, with

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all of us or some of us.

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And we were able to go through

those properties together and

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do our due diligence together.

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And everybody walked away with

their certificate and we're just

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waiting a year before we are able

to take possession of the property.

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If the owner does not redeem the property,

meaning they don't, if they don't.

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Pay their taxes.

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So yeah, community is

very, very important.

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And another thing about

being in a community is.

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Being educated, like you cannot

invest in real estate properly,

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safely without the proper education

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the Bible says my people perish,

but the lack of knowledge.

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So you need to, you need this knowledge.

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You need to be supported

by people who are doing it.

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legally and the right way.

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I did want to talk a little bit

about one of, she was a, not a

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client of mine, but she was in my

nurse real estate investment club.

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And what happened with her was she

purchased, or she won a certificate

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at the tax sale and We were all happy

celebrating her success, but what happened

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was she kind of disappeared for a while,

but she came back around and was like,

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I lost, I want to say, she said 40 to

50, 000 and we're like, what happened?

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You only, you know, you bought

this property like super cheap

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for maybe a couple grand.

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What happened?

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So what happened was

she won the certificate.

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And didn't realize that she didn't

have, , ownership yet of the property.

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And she started going in

and rehabbing that property.

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So she had put like 40,

50, 000 in this property.

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And then the owner came back

and redeemed the property.

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She didn't know that because.

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She didn't, she wasn't properly educated.

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. She won the certificate,

but she disappeared.

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So you have to, you know, there's

safety in the multitude of counsel.

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So you have to be around other investors

so they can walk you through the process.

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No matter how you get a property, it

doesn't matter how you acquire it.

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You still need that education.

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You need to know, what the proper steps

are in order to, own this property.

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And not only that, after you take

possession of the property, then you need

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to, you need to have an exit strategy.

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You need to know what to do

with this property, right?

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So you need to know, if you want

to rent it out to a tenant, you need

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to know what the tenant laws are.

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The landlord tenant

laws are in your state.

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You need to properly vet your tenant.

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You need to have, Make sure you

need to have your books in order.

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You need to make sure that you are

in alignment with the state, with

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the federal government because it is

a business and people don't realize

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that real estate is indeed a business.

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You need to make sure that all

of your documentation is correct.

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There's so many other different

intricate parts of owning real estate

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than just, you know, the sexy part

to say I'm a real estate investor.

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I own properties, but you need

to make sure that your back

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office is set up properly.

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And these are some of the things,

or not some, or I teach all of these

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things in my rich friends circle.

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You can join me, join us

in the rich friends circle.

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I'll make sure that I have the link below.

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You just click on the link and you will

get seven days free to check it out.

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See if it's something that you like,

see if it's something that you will.

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You feel like, okay, I'm

jiving with these ladies.

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Less rock, less roll.

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I'm ready to get into real

estate or I'm ready to build

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out my real estate portfolio.

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We'd be more than happy to have

you and welcome you on board.

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Again, just to wrap up, there are

three things that you need to know.

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You do not need a lot of money to

invest in real estate, but you do need.

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To be in a community of

other real estate investors.

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And you also need to be educated.

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This is Dr.

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T Mac.

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I will see you on the next episode

and remember you can have it all.

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Bye for now.

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Um,