In this episode of the #WisdomOfWomen Show, host Coco Sellman sits down with Joette Trinh, a highly respected attorney specializing in real estate and small business law. Joette shares her inspiring journey from humble beginnings to becoming a trailblazer in empowering women to achieve financial success through real estate investing. With over a decade of experience, Joette offers visionary women founders invaluable insights into creative financing, building wealth, and creating lasting prosperity.
WHAT YOU’LL GAIN BY LISTENTING IN:
Listeners will walk away with practical strategies to enter the world of real estate investing, even with limited resources, and a renewed sense of possibility for creating legacy-changing opportunities.
Chapters
00:08 The Emerging Model of Leadership
04:06 Joette's Journey into Real Estate
07:30 The Shift to Law School
13:52 Exploring Creative Financing Strategies
19:32 Getting Started in Real Estate Investment
27:24 Exploring Affordable Housing Solutions
32:04 Empowering Women Through Real Estate
Takeaways
◾ Joette Trinh emphasizes the importance of real estate in achieving financial independence and creating wealth.
◾ Women should leverage creative financing strategies to invest in real estate without significant upfront costs.
◾ Real estate has historically been a pathway to wealth creation, especially for women entrepreneurs.
◾ Building a supportive community of female investors can help women navigate the real estate market more effectively.
◾ Joette's personal journey highlights the power of determination and grit in overcoming financial obstacles.
◾ Educating oneself about real estate from reputable sources is crucial for successful investing.
BURNING QUESTIONS ANSWERED:
1. How to Get Started in Real Estate Investing Without Breaking the Bank
Discover Joette’s personal journey of turning student loans into a real estate empire.
Learn actionable steps to begin investing with minimal upfront capital.
2. What Are Creative Financing Strategies and How Can They Transform Your Approach to Real Estate?
Understand innovative methods like rent-to-own, seller financing, and novation to overcome financial barriers.
Learn how these strategies work and why they’re a game-changer for women looking to invest.
3. Why Finding the Right Experts is Crucial in Real Estate Transactions
Hear why working with specialized attorneys is essential for navigating creative financing.
Gain tips on identifying reputable resources and associations for education and support.
4. How to Turn Challenges into Opportunities
Learn from Joette’s grit and determination as she shares her experience of building success from adversity.
Hear how she leveraged a “no excuses” mindset to create opportunities for herself and others.
5. What Role Does Real Estate Play in Building Generational Wealth?
Explore how real estate has historically created more millionaires than any other industry.
Understand why women must include real estate in their financial strategy for lasting prosperity.
6. How to Make an Impact Through Real Estate
Discover Joette’s innovative work in converting motels into affordable housing solutions.
Learn how real estate investing can align with your values and create social impact.
FAVORITE QUOTES:
“Real estate has made more millionaires than any other strategy or industry historically. Don’t leave real estate out of your plan.” — Joette Trinh
“I knew that if I was going to do anything with my life, it was going to be because I earned my way there.” — Joette Trinh
“Creative financing allows you to unlock doors that most people don’t even know exist.” — Coco Sellman
“If you have the desire to change your legacy, start by educating yourself and taking small, intentional steps.” — Joette Trinh
CLOSING THOUGHTS:
Joette Trinh’s journey is a powerful reminder that the right mindset and resourcefulness can overcome even the most significant obstacles. Her passion for empowering women through real estate investing shines as she shares actionable strategies, invaluable insights, and a vision for creating generational wealth.
If you’re ready to take your first step in real estate or explore new strategies, Joette encourages you to connect with your local investor groups, find reputable mentors, and never stop learning.
TAKE ACTION:
Visit Joette’s website at www.trinh.law to explore her resources and follow her on Facebook, Instagram, and LinkedIn for ongoing insights. Ready to elevate your business? Take the Growth Readiness Quiz at www.aforceforgood.biz/quiz to uncover your next steps toward building prosperity.
OFFERS & CONTACT INFORMATION:
LinkedIn: https://www.linkedin.com/company/trinhlawfirm/
Instagram: https://www.instagram.com/trinhlawfirm/
Facebook: https://www.facebook.com/trinhlawfirmllc
Website: https://trinh.law/
Email: joette@trinh.law
Follow the #WisdomOfWomen show for more inspiring stories and insights from trailblazing women founders, investors, and experts in growth and prosperity.
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Apple Podcasts: https://tinyurl.com/bdhananz
RSS Feed: https://feeds.captivate.fm/womengetfunded/
Coco Sellman, the host of #WisdomOfWomen, believes business is a force for good, especially with visionary women at the helm. With over 25 years of entrepreneurial experience, she has launched five companies and guided over 500 startups. As Founder & CEO of A Force for Good, Coco supports purpose-driven women founders in unlocking exponential growth and prosperity. Her recent venture, Allumé Home Care, reached eight-figure revenues and seven-figure profits in just four years before a successful exit in 2024. A venture investor and board director, Coco’s upcoming book, *A Force for Good*, reveals a roadmap for women to lead high-impact, high-growth companies.
Learn more about A Force for Good:
Website: https://aforceforgood.biz/
Are Your GROWING or PLATEAUING? https://aforceforgood.biz/quiz/
1-Day Growth Plan: https://aforceforgood.biz/free-plan/
FFG Tool of the Week: https://aforceforgood.biz/weekly-tool/
The Book: https://aforceforgood.biz/book/
Growth Accelerator: https://aforceforgood.biz/accelerator/
Together, let’s make the world better through women-led businesses!
Welcome to the Wisdom of Women show.
Coco Salman:We are dedicated to amplifying the voice of women in business.
Coco Salman:A new model of leadership is emerging and we are here to amplify the voices of women leading the way.
Coco Salman:I am your host, Coco Salman, five time founder, impact investor and creator of the Force for Good system.
Coco Salman:Thank you for joining us today as we illuminate the path to unlocking opportunities and prosperity for women led enterprises by Amazon.
Coco Salman:Amplifying the voice and wisdom of women.
Coco Salman:So today we have my dear friend, Joette Trinh.
Coco Salman:Joette is a highly respected attorney specializing in real estate and small business law with a unique passion and I love this for empowering women to achieve financial success through real estate investing.
Coco Salman: me super lawyer honoree and a: Coco Salman:Having worked in residential and commercial sectors in addition to running her own successful law practice, Joette is dedicated to educating women on building wealth through real estate.
Coco Salman:And I'm so excited to learn about this today with you, Joette.
Coco Salman:So known for her work ethic and her commitment to client success, Joette experience makes her a trusted advisor for women founders aiming to create lasting prosperity.
Coco Salman:Welcome Joette.
Joette Trinh:Thank you so much for having me, Coco.
Joette Trinh:I am honored to be here.
Coco Salman:Oh, it's just a delight to get to connect with you.
Coco Salman:So Joette and I, we have a close connection.
Coco Salman:We're part of the strategic coach community and we together have the opportunity to get to know each other.
Coco Salman:Being in the room once a quarter and learning from the teachings of Dan Sullivan and being in the room together, learning about each other's businesses and lives and so forth.
Coco Salman:So it's so nice to be here with you today in this capacity.
Joette Trinh:Thank you so much.
Joette Trinh:I am so glad to have the opportunity to speak with you, especially in a one to one manner.
Joette Trinh:We're really able to delve a little bit deeper.
Coco Salman:Yeah, exactly.
Coco Salman:So, so at the beginning of all of my wisdom of women shows, we always talk first.
Coco Salman:What is a book written by a woman that has significantly influenced your life?
Joette Trinh:The book that I would say probably off the top of my head is girl, wash your face.
Joette Trinh:And I like that one because that was the first book that I read that kind of gave me like a jolt to my system where it was like, hey, there's no excuses.
Joette Trinh:Like if you want to accomplish great things, wash your face, get up, get going, push the excuses aside and start making headway.
Joette Trinh:And that Book I probably read almost five years ago now.
Joette Trinh:And it was that book that helped me figure out the path that I wanted to go and follow forward and kind of set out the steps for me.
Joette Trinh:So Girl Wash sureface is one that I would say had a.
Joette Trinh:Has a huge impact.
Coco Salman:That is great.
Coco Salman:I, I remember reading this book a few years ago myself and it, and it really is, it's like, it's like a joke, right.
Coco Salman:A reminder to get on path and that, you know, nobody's going to do this for you.
Joette Trinh:Right, right, absolutely.
Joette Trinh:There's, there's other books, but I would say that one comes to mind as like a.
Joette Trinh:Let's go.
Joette Trinh:Stop.
Joette Trinh:Stop delaying what you want.
Coco Salman:Yeah, exactly, exactly.
Coco Salman:And it's easy to do that.
Coco Salman:Right.
Coco Salman:I know you had an interesting journey.
Coco Salman:So tell us about your entrepreneurial journey and what inspired your initial interest in real estate and legal and how that evolved into kind of moving into investing for women.
Joette Trinh:So that journey started right out of undergrad.
Joette Trinh:I had gone to school, school for political science.
Joette Trinh:I had no intentions of being a lawyer and I was actually very poor when I was growing up.
Joette Trinh:I grew up with a single mom and I was one of those angel tree kids, if you know what that is.
Joette Trinh:It's like the, you know, the ornaments you pull off the tree and it says, girl, age 7, needs socks.
Joette Trinh:I was one of those kids because we just didn't have the money really for food.
Joette Trinh:Even my mom made a choice at a young age between a safe place to live with a good school system versus not so safe and having food.
Joette Trinh:And so I was presented with choices as a young child.
Joette Trinh:Right.
Joette Trinh:And I knew that if I was going to go to college, it was going to be on merit because my family didn't have the money.
Joette Trinh:My mom is from Vietnam.
Joette Trinh:She came over during the war.
Joette Trinh:And then my dad exited stage right when I was five.
Joette Trinh:So it was just her and I for a long time until she got remarried.
Joette Trinh:But at a young age, like I said, it was very clear to me that if I was going to do anything with my life, it was going to be because I earned my way there because there was no money to help me.
Joette Trinh:So I went and got a merit scholarship to go to college.
Joette Trinh:And then right before I graduated, my mom took me to one of those free one day real estate seminars.
Joette Trinh:This was almost 20 years ago now.
Joette Trinh:So back then there's no YouTube, there's no Google.
Joette Trinh:You can't just like go online and learn how to invest in real estate.
Joette Trinh:You actually had to show up and put in time and money.
Joette Trinh:So my mom takes me to this free one day seminar, and I absolutely fell in love with real estate.
Joette Trinh:And I was like, this is what I want to do with my life.
Joette Trinh:Screw the four years that I just spent learning and getting at my double degree.
Joette Trinh:I want to do real estate.
Joette Trinh:And I contacted the guru that was speaking that day, and I asked him for a job.
Joette Trinh:And I said, I'll get your coffee, I'll get your dry cleaning.
Joette Trinh:Like, just let me in the room.
Joette Trinh:Because in order to take his courses, it was anywhere between three to forty thousand dollars.
Joette Trinh:And I didn't have that money twenty years ago at that time.
Joette Trinh:Like, that's, that's a lot of money for, for a kid coming out of school.
Joette Trinh:And so I asked if I could work for him, and he kind of like, yeah, yeah, whatever.
Joette Trinh:But then I kept calling and I called every month for six months, and I was like, I want to be in the room.
Joette Trinh:And I think after six months, he finally got the idea that I wasn't going to go away.
Joette Trinh:So he finally gave me a job, and I spent the next five years working for him.
Joette Trinh:And I would get his coffee, I'd get his groceries, I'd get his dry cleaning, I'd run his errands.
Joette Trinh:But in exchange, I got to sit in the back of the room and learn everything that was being taught to these investors who were paying a minimum of three and sometimes up to 40 to learn real estate.
Joette Trinh:But I was learning it, and I was being paid to learn it.
Joette Trinh:So that's how I gathered my knowledge.
Joette Trinh: And then: Joette Trinh:And so I decided I should go to law school to learn how to protect my investments.
Joette Trinh:Well, law school takes money, and I had some savings after working for the guru, but not enough for law school.
Joette Trinh:So again, I got a merit scholarship based on how I had done an undergrad.
Joette Trinh:But the law school that I went to, it's one of the only ones on the eastern seaboard that allows you to concentrate your law degree in real estate.
Joette Trinh:Most attorneys who practice law, they kind of fall into their area of expertise based on the job that they get.
Joette Trinh:Whereas for me, I knew I only wanted to do real estate and small business because of my background with this guru for five years.
Joette Trinh:And so I chose a law school that would allow me to concentrate my law degree in that manner.
Joette Trinh:Like I said, law school costs money.
Joette Trinh:I didn't have a ton.
Joette Trinh:So I implemented those strategies that I learned from the guru.
Joette Trinh:And while I don't recommend it.
Joette Trinh:What I did was I maxed out my student loans, and then I took that money and I went and I bought mobile homes because I couldn't qualify for a loan on a regular single family home because I had no job, because I couldn't work.
Joette Trinh:My first year of law school, I wasn't allowed to work per the school's rules.
Joette Trinh:So I didn't have a job.
Joette Trinh:I couldn't qualify for a loan, so I maxed out the student loans and I went and I bought mobile homes.
Joette Trinh:And I would go to school Monday through Friday, and then Saturday I'd wake up and I'd drive 100 miles north.
Joette Trinh:I would scrub toilets.
Joette Trinh:I'd clean the mobile home.
Joette Trinh:My boyfriend, who is now my husband, would paint, put the carpet out, and then we'd flip it and we would take payments on it.
Joette Trinh:And the payments that came in from the people who bought the mobile homes for us paid for law school.
Coco Salman:Oh, my God.
Joette Trinh:So that is my very roundabout journey of how things just kind of fell in line.
Joette Trinh:I knew that I loved real estate.
Joette Trinh:I knew that it could change my life.
Joette Trinh:And it has, and it's helped.
Joette Trinh:Those skills have also helped me become a lawyer.
Joette Trinh:And that's, like I said, how I paid for law school.
Coco Salman:Amazing.
Coco Salman:And I.
Coco Salman:You know, Joette, there's so many parts of this story that are so amazing and inspiring.
Coco Salman:You are so gritty and unstoppable.
Coco Salman:There's like, you, you know, so often we're stopped because we don't have the funds.
Coco Salman:So often that's what stops Founders.
Coco Salman:And I admire.
Coco Salman:And I actually think it's.
Coco Salman:It is that grit to figure it out one way or the other and, and you know, and take chances.
Coco Salman:Like, you had to take a pretty big chance to take that loan out.
Coco Salman:Your.
Coco Salman:Your school loans, Max, your school loans.
Coco Salman:And you were betting on yourself, right?
Coco Salman:Yeah.
Joette Trinh:And I was betting on that I could live on a very low budget because I had to take.
Joette Trinh:I took the majority of the money to put into the mobile home.
Joette Trinh:So I was like, I can do this.
Joette Trinh:I can live below my.
Joette Trinh:My means until I can get to the next level.
Coco Salman:That is extraordinary.
Coco Salman:And so, and so you've been building.
Coco Salman:So I love this story because from the very beginning, it's so clear this is what you were meant to do.
Coco Salman:And I'm sort of interested to see, like, we'll come to this, but like, you were interested in this person, this sort of real estate guru.
Coco Salman:It almost feels like that's your future teaching.
Joette Trinh:I would love that to be my future.
Joette Trinh:I have learned a lot in this journey and if I could, and if I could give that back, especially to women, because I was raised by a single mom, I have daughters, I want to be able to empower other women to know that this is possible, it is possible to change your life.
Joette Trinh:It is possible to learn real estate strategy specifically is what I'm talking about, since that's my area of expertise or my niche to use those strategies like I did and change your life and change your legacy for your children.
Joette Trinh:That's extremely important mission for me.
Coco Salman:Beautiful.
Coco Salman:Beautiful.
Coco Salman:And I think everybody listening is, can relate to that.
Coco Salman:Right.
Coco Salman:We want to create a better world for ourselves and for our kids and to empower ourselves with, you know, that's freedom to have the ability to create your.
Coco Salman:Generate your own prosperity and not worry or have to believe that your circumstances dictate your future or that the other people in your life.
Coco Salman:Right.
Coco Salman:When you, when you have this ability and you can, you can go create it yourself, that's pretty powerful.
Coco Salman:And right now you're, you're still a practicing full time real estate attorney and you're.
Coco Salman:And you're also leading seminars, right?
Joette Trinh:Can you tell us about that?
Joette Trinh:Yeah, So I am a full time practicing attorney.
Joette Trinh:I own my own law firm.
Joette Trinh:So I had worked when I got out of law school, I did start as an associate attorney at other firms.
Joette Trinh:And then three years ago now I went and started my own law firm.
Joette Trinh:And part of what I do through my law firm is I put on in person seminars for local women and other males too.
Joette Trinh:But other investors in my community who want to learn what's called creative financing, which is kind of akin to what I was doing with the mobile homes where I was borrowing money, putting in the work and then selling and taking payments on it.
Joette Trinh:There's a lot of different strategies for creative finance that can be done that require a lot less money than the traditional ways of buying real estate.
Joette Trinh:Most people only know the one way, which is I save up for a down payment, I put it on the house, I go get a loan, I pay for the, for the rest, and I make mortgage payments for 30 years to the bank.
Joette Trinh:Well, it doesn't have to be that way.
Joette Trinh:There's several different strategies that can be done that are not traditional.
Joette Trinh:They're more creative.
Joette Trinh:And so that's what I teach in my community.
Coco Salman:Okay, I.
Coco Salman:Can we talk about those strategies?
Joette Trinh:Can you tell us?
Joette Trinh:Sure.
Joette Trinh:So the, probably the one that most people are most familiar with is like a rent to own.
Joette Trinh:Right.
Joette Trinh:So you're the renter, you're leasing the property, and instead of just renting the property, you can rent to own.
Joette Trinh:So a part of your monthly rental payment can go towards the purchase of the property.
Joette Trinh:And so you would have contracts in place for that.
Joette Trinh:So that's rent to own is probably the easiest way.
Joette Trinh:And to understand that concept.
Joette Trinh:The second is what's called seller financing, which is what I did with a mobile home.
Joette Trinh:So I own the home outright, and when I sold it, I took payments, monthly payments with interest until the payment was made in full.
Joette Trinh:So anyone can do that on a house.
Joette Trinh:If a homeowner owns a property and they don't have a mortgage on it, rather than going out and getting a loan and paying a bank for 30 years, you can just make payments to the seller.
Joette Trinh:So that's seller financing.
Joette Trinh:The third strategy is what I would call a contract for deed, which is also known around the country as an installment land contract.
Joette Trinh:So same concept where the buyer of the property is making payments to the seller.
Joette Trinh:But in that scenario, there may be a mortgage on the property already.
Joette Trinh:So, for instance, Coco, you own a home, for example, sake, it's like $100,000.
Joette Trinh:I want to buy it from you, but you have a mortgage for $50,000, so.
Joette Trinh:And I don't have the full $100,000 to give you.
Joette Trinh:If I did give that to you, you would turn around and give 50 to the bank and keep 50 yourself.
Joette Trinh:But in my scenario, I don't have the full hundred.
Joette Trinh:So what I would do is, let's say I make $1,000 a month payment, I give it to you, and for ease of numbers, you'll take 500 and you pay the bank and you keep the other 500.
Joette Trinh:But then every month that I make payments to you, the amount that I owe you for the purchase price on the home is decreasing.
Joette Trinh:So that scenario is great for a homeowner who has a mortgage but also wants to sell.
Coco Salman:Yeah.
Joette Trinh:The other one is a, what I call innovation, which basically is a way for an investor to flip a house without ever owning it.
Joette Trinh:If any of your listeners have ever watched HGTV flip this house or any of those flipping shows, the way that you flip a house is you buy it, then you renovate it, then you sell it, and you pay back everything you owe.
Joette Trinh:Well, with what I call innovation, it's the ability to get the property under contract, and the contract gives you the right as the investor to renovate the home.
Joette Trinh:And once you're done renovating it, you put it on the market, and the amount of money that the house sells for is yours, minus what you owe the seller.
Joette Trinh:So, for example, I had a client, he got a property under contract for 200,000.
Joette Trinh:I'm going to make the numbers easy.
Joette Trinh:He got under contract for 200,000, he put $100,000 into it.
Joette Trinh:So now he's at the total price of 300,000 and it sold for 400,000.
Joette Trinh:Well, at closing, when the end person paid 400,000, 200 goes to the seller, 200 goes to the investor, and he reimburses himself for the 100,000 he spent on renovation, and then the other hundred goes to him as profit.
Joette Trinh:He never bought the house.
Joette Trinh:He never qualified for a loan.
Joette Trinh:He was able to buy the property.
Joette Trinh:Excuse me, he was able to flip the property without ever owning it.
Coco Salman:So the only investment is the investment in the updates is whatever renovations or updates he did.
Joette Trinh:And, you know, small closing costs, like what it costs to have an attorney draft a contract for you.
Joette Trinh:So ancillary costs like that.
Joette Trinh:But that strategy right there, it's called different things around the country, but that strategy where essentially you're getting a home under contract, you're never buying it, you're able to renovate it, and then you sell it for more money and you make the difference, is a game changer for any investor.
Joette Trinh:Any woman who wants to flip a house but can't qualify for the loan or doesn't know where to find the money for the loan, but if they have the money for the rehab or can borrow the money for the rehab, you're significantly decreasing how much money or liquidity you have to have to buy the home.
Joette Trinh:And then the last strategy is called subject to existing financing.
Joette Trinh:It's a huge buzzword in today's real estate industry, and it's purchasing a home while keeping the seller's mortgage in place.
Joette Trinh:There's a lot of rules around that.
Joette Trinh:There's a lot of risk around that.
Joette Trinh:And so I would recommend to anyone who wants to do that type of transaction to hire an attorney whose niche in practice is in that type of sector so that the documentation is done correctly because there's a lot of laws around it.
Joette Trinh:But that's creative financing in a very small niche for you.
Coco Salman:So, so you were saying before that you can really get started without a lot of money up front.
Coco Salman:And so tell us, tell us a little bit about how, how you recommend people get started with this idea and these strategies in your, in your workshops.
Coco Salman:What advice you give to, to women.
Joette Trinh:Well, the very first thing I would say is to educate yourself and educate yourself from reputable sources.
Joette Trinh:And so that means seeking out an attorney in your area or if you.
Joette Trinh:Or an attorney like myself who could help educate you.
Joette Trinh:It's about surrounding yourself with the correct type of environment.
Joette Trinh:Every state across the U.S.
Joette Trinh:no matter where your listeners are listening from, has a real estate investor association.
Joette Trinh:And some states have multiple.
Joette Trinh:So I would suggest, number one is that a woman who's listening to this get involved in their local community, in their local investor groups, whether it be joining the real estate investment group.
Joette Trinh:There's tons of Facebook investor groups, though.
Joette Trinh:You have to be careful who you, you know, involve yourself with on social media and whether or not they're reputable.
Joette Trinh:But there's lots of resources.
Joette Trinh:There's also online gurus, which again, you need to research them and make sure that they're legitimate.
Joette Trinh:I am developing an online course as well because I know that women outside of my area could benefit from the education that I offer.
Joette Trinh:So that's something that is long term, it's coming, but it's not in the near future, maybe a year out or so.
Coco Salman:I think that's great.
Coco Salman:And yeah, I'd love to partner to help you get that up and going because it's so important and valuable for women to have it and be able to access it.
Coco Salman:So if somebody is interested in learning about this kind of thing, would they.
Coco Salman:Are you taking people to talk to you about it?
Coco Salman:Are you willing to coach people on it?
Coco Salman:Is that something you're willing to do or would you prefer to send them elsewhere?
Coco Salman:What is your desire around that?
Joette Trinh:So as it concerns the law, I'm only licensed in Connecticut and Massachusetts, so if someone lives in Connecticut or Massachusetts, I can offer legal advice if they hire me as their attorney.
Joette Trinh:For anybody else who doesn't live in those two states but is interested in this type of information, they could hire me as a consultant.
Joette Trinh:So I would not be their attorney.
Joette Trinh:It would not be legal advice, but I could give.
Joette Trinh:I could consult them and give them basic information that they would then need to take back to their home state and confirm with a real estate attorney who understands this type of investing that what I'm showing them and teaching them works in their state.
Joette Trinh:The concepts are the same across the nation, but it's the nuances per state, which is where things can get difficult.
Joette Trinh:And that's why having local, a local attorney is so important.
Joette Trinh:But yes, I do offer consultations and can assist in that way.
Coco Salman:And so, and I know people can also follow you on, on the social channels on LinkedIn and Instagram, Facebook, are those the primary places they should go?
Joette Trinh:Those, yes.
Joette Trinh:I'm most active on Facebook and Instagram, but I also have LinkedIn.
Coco Salman:Yes.
Coco Salman:Okay, great.
Coco Salman:And so, and are there.
Coco Salman:So what?
Coco Salman:I, you know, I'm not at all an expert in real estate, but this is pretty specific stuff.
Coco Salman:So it's not like you just go to your run of the mill real estate attorney, right.
Coco Salman:Like Joette, you've been studying this for 20 years.
Coco Salman:And so this isn't just your typical I'm buying an apartment or I'm selling my house.
Coco Salman:This is different.
Coco Salman:And so you really have to find someone that specializes in this.
Coco Salman:Right.
Coco Salman:It's not just any real estate attorney.
Joette Trinh:It is not just any real estate attorney.
Joette Trinh:And what I would say is, you know, in my home state of Connecticut, I don't think I could even count on one hand how many attorneys really understand this niche.
Joette Trinh:This is a very small niche of the law.
Joette Trinh:It's very specific.
Joette Trinh:And if you were to call, you know, Joe Schmo down the street who is a real estate attorney and ask him, hey, can you do this?
Joette Trinh:A lot of attorneys are risk averse, right?
Joette Trinh:So they're going to tell you, no, no, don't do that.
Joette Trinh:And that's primarily because they're not familiar and they haven't studied this type of financing.
Joette Trinh:And so just because you call an attorney who says you can't do that, it doesn't necessarily mean that you really have to find an attorney who specifically practices this area of the law very similar to a doctor.
Joette Trinh:You're not going to go to a brain surgeon and ask him questions about your foot or vice versa.
Joette Trinh:Right.
Joette Trinh:So you have to have the right kind of attorney, you know, as you would the right kind of doctor.
Coco Salman:Great.
Coco Salman:And so you've given us the really great advice to find out about our local or state real estate associations.
Coco Salman:Are there other, you say that there, you know, some people that you, that you listen to.
Coco Salman:Are there certain voices on YouTube or mailing lists that you recommend or anybody that you would recommend that we do tap into, that would be a good voice that you recommend.
Joette Trinh:So a great resource for beginner investors is any of the Bigger Pockets podcast.
Joette Trinh:Now the Bigger Pockets, they have several different podcasts and they tailor the podcast to their guest, right.
Joette Trinh:So whatever their guests specialty is.
Joette Trinh:And so I would say that those are a great source.
Joette Trinh:But then if you want to know more about creative finance, you would look for the topic of the get the podcast guest who specializes in that.
Joette Trinh:So Bigger pockets is great.
Joette Trinh:I also follow the real estate Invest her podcast that is a real, a nationwide real estate investment community for female real estate investors specifically.
Joette Trinh:And same thing with that community is that they have lots of women who invest in all different types of real estate.
Joette Trinh:And so you need to find the women in that community that specifically speak about what I'm talking about.
Joette Trinh:I was one of the podcast guests on the Invest her podcast, so you could certainly find me there if they have any more, if your listeners have any more interest in hearing what I have to talk about.
Joette Trinh:And in that scenario, I talk a lot about the mobile homes and I also talk about purchasing real estate from probate, which is when a person has passed away, how to buy from an estate and how to capitalize on that.
Joette Trinh:So those are the two major ones.
Joette Trinh:And then of course your local real estate investor association.
Joette Trinh:I think that those groups will bring very reputable people through the community as well.
Coco Salman:What are you investing in right now?
Coco Salman:What are you interested in in terms of your own personal, you know, exploration?
Joette Trinh: e that was what was available: Joette Trinh:So we have ourselves acquired a portfolio from everything that's small single family homes to larger apartment buildings and everything in between.
Joette Trinh:And we've been doing that for, we've been married 11 years and we were kind of acquiring while we were dating.
Joette Trinh:So that's been the past 15 years that we've been together.
Joette Trinh:We've been doing that.
Joette Trinh:But what has really piqued my interest lately is conversions.
Joette Trinh:So, you know, buying small commercial properties like motels and then turning them into apartments for affordable living.
Joette Trinh:Like a single mom who might have a child and she can't afford full boat rent on a two bedroom in her community, but maybe she can afford a small motel size room where she and her child can share the room together and is able to get further because the rent is cheaper.
Coco Salman:I love that.
Coco Salman:My goodness.
Coco Salman:And so you're doing more of that now, you're starting to get into the conversions?
Joette Trinh:Yes, we're moving into that industry and it's really exciting.
Joette Trinh:I, I don't necessarily know that I want to keep running the law firm.
Joette Trinh:I think if I would, if I could get out there and educate more women and do more real estate investments, then practicing the law has been great and it's been very good to me.
Joette Trinh:But it's not where my passion lies.
Joette Trinh:My passion lies with empowering women and Helping change their legacies and the law degree is something that I use to my advantage and my clients advantage to do that.
Joette Trinh:But I really enjoy educating and empowering other women.
Coco Salman:Oh my goodness.
Coco Salman:I see the future in you.
Coco Salman:Like it's just so, it's so clear.
Coco Salman:You know, sometimes you can just see the, see, see what's coming and your passion is clear.
Coco Salman:Like, you know, this is the thing.
Coco Salman:Sometimes, sometimes we are gifted with a passion and clarity and gosh, when we are, we're so fortunate.
Coco Salman:And like you had that clarity and it kind of struck early on about what you're interested in and you've kept going and going and sometimes it's hard to see that.
Coco Salman:Right.
Coco Salman:And you've taken a lot of different paths along the way and you had to make some big decisions to keep kind of forging ahead.
Coco Salman:But it's just exciting.
Coco Salman:I can't wait to see what unfolds for you over the next year and beyond and how you help more and more people.
Coco Salman:This conversions thing, helping more.
Coco Salman:You know, there's, there's such a big thing in the, in the larger real estate community.
Coco Salman:Thinking about community based living and that kind of thing too.
Coco Salman:That's kind of a thing, right?
Joette Trinh:That's a.
Joette Trinh:Yeah, it is.
Joette Trinh:It, you know, more living in areas where you can walk to the grocery store, walk to things is becoming more and more popular.
Joette Trinh:But also having it be affordable, I mean, there is, where I live, there is a large need for affordable housing.
Joette Trinh:And so when I say affordable housing, I don't necessarily mean government based living or government assisted living.
Joette Trinh:My mom is a very proud woman.
Joette Trinh:And while we were poor, she worked and worked and worked and we didn't actually receive government assistance.
Joette Trinh:Now there's nothing wrong with government assistance and we could certainly have benefited from it, but she didn't use that avenue.
Joette Trinh:And when I talk about affordable housing, I'm not talking about government assisted housing, though that is an area that can be explored and can be profitable for some investors.
Joette Trinh:When I say affordable housing, I just mean your mom who has a child or and is just, I don't know, maybe she's a waitress, maybe she's a male woman, maybe she's whatever and she's just having trouble making, you know, her expenses meet her income.
Joette Trinh:And so how do we offer a situation or a living alternative for her where maybe she doesn't have a huge sprawling house, but it fits within her budget and gives her the opportunity to provide a safe place for her child to grow up, just like my mom did.
Joette Trinh:Me.
Coco Salman:Yeah.
Coco Salman:Well, and I, my, and I've told you this, I love this idea so much that you know all about this.
Coco Salman:I have such a desire to help you pull together women who want to invest and you in running a fund.
Coco Salman:Like that's what my dream is.
Coco Salman:Because I don't know that I'm ever going to get to the point where I'm going to go find those mobile homes myself.
Coco Salman:Some listeners will, but I think they'd be really cool to be able to say, hey Joette, let's all pull together some money and you go do this.
Coco Salman:We're going to put that on the horizon too.
Coco Salman:We're going to co create that right.
Joette Trinh:Future discussion.
Joette Trinh:I would love to have it.
Coco Salman:Yeah, exactly, exactly.
Coco Salman:So, all right, so final lasting words of wisdom for women founders in the world.
Coco Salman:Creating prosperity, creating businesses.
Coco Salman:What would you like to leave?
Coco Salman:What have you learned on your journey to get you where you are?
Coco Salman:And what would you, what would you offer as as simple.
Joette Trinh:I would say that there's a lot of paths and a lot of ways for women to create prosperity in their life.
Joette Trinh:Financial prosperity specifically.
Joette Trinh:And as a woman, as you're considering what to do and what way to achieve that, please don't leave real estate out.
Joette Trinh:Real estate has made more millionaires than any other strategy or any other industry historically.
Joette Trinh:And so as a woman, please make sure that you're including real estate in your strategy.
Joette Trinh:It is in a phenomenal way to change your legacy in just one generation.
Joette Trinh:My mom came here from the, from Vietnam with $3.50 in her pocket.
Joette Trinh:And I'm now a lawyer with a large portfolio that I can leave to my children.
Joette Trinh:So don't leave real estate out.
Joette Trinh:And if you want to learn about how to do real estate the non traditional way so that whatever monies you have can go and can stretch as far as possible.
Joette Trinh:Explore creative financing from reputable sources like myself or the podcast that I've talked about.
Coco Salman:That's great.
Coco Salman:So tell us how we can, what's your, what's your website where people can find you?
Joette Trinh:My website is my last name law, so www.trin.law.
Joette Trinh:i'm also on social media, Facebook, Instagram and LinkedIn like we talked about.
Joette Trinh:Those are the main ways to get ahold of me.
Joette Trinh:I post on social media all the time, so you can certainly follow me and see what's going on.
Coco Salman:Wonderful.
Coco Salman:And you write great articles.
Coco Salman:You can go to your website.
Coco Salman:There's some great articles written there on your blog.
Coco Salman:So you know, everybody can sort of tap in.
Coco Salman:And I encourage you to reach out to Joette.
Coco Salman:If you're, if you're thinking about going down this path, partner with her and she can consult with you.
Coco Salman:She can help you get started and put your, put your dollars together and move towards, you know, creating more prosperity and legacy for yourself.
Coco Salman:You know, here we are, it's a great wealth, you know, transition happening right now and you know women are going to have more than 60% of the total assets in 10 years.
Coco Salman:So let's get ourselves knowledgeable now as a first step, right?
Coco Salman:Go and check out some of the, check out Joette's blogs, learn about it there, reach out to her, go follow her on socials and start taking the first steps so that you can participate in this different avenue of prosperity.
Coco Salman:So thank you Joette.
Coco Salman:Thank you.
Coco Salman:Thank you so much for joining us on the Wisdom of Women Show.
Coco Salman:Thank you for illuminating the path to unlocking opportunities for growth and prosperity for women everywhere.
Coco Salman:We value your experience and your wisdom and to everyone listening today, if you have enjoyed our time together, please be sure to follow, like or share the Wisdom of Women show on whatever platforms you're listening on.
Coco Salman:And to infuse more of your wisdom into your business, take the Growth Readiness Quiz at aforceforgood Biz Quiz and get yourself a score and uncover where your insight is needed most.
Coco Salman:And as always, the world is made better by women led business.
Coco Salman:So let's all go make the world a better place.
Coco Salman:Cheers.
Joette Trinh:Thank you.
Joette Trinh:Is your business ready to accelerate?
Joette Trinh:Take the Business Acceleration Readiness Assessment today and find out now at www.aforceforgood biz quiz.
Joette Trinh:Take the five minute assessment and you will receive an instant response response on the four essential areas of alignment needed for business growth.
Joette Trinh:You will also receive four free tools specific to your situation to help you and your team accelerate success right away.
Joette Trinh:Go to www.aforceforgood.biz quiz and find out what you can do to accelerate impact, scale and profit today.