Our guest today is Monick Halm, a real estate investor and coach with a mission to help 1 million women achieve financial freedom. She reached incredible success and shares with us the foundation, mindset, and mentality behind real estate investing. If you want to get into real estate, then this episode will show you how to start your investing journey even if you only have $1 and very little time. Learn more about Monick and her journey at reiclarity.com!
“Bring women here and show them how to do this. That was what came to me.”
Monick started her career as a lawyer. She fell into real estate investing by accident when she bought a multifamily and did a house hack with it. She started flipping houses with her husband in 2008. One day Monick was at a conference where she realized that out of the 120 guests only 8 were women. That is when she decided to dedicate herself to bringing women together and helping them be successful in real estate investing.
Monick’s big hairy audacious goal is to help 1 million women reach financial freedom.
“The easiest way is starting with what you already have.“
According to Monick, women usually have 3 main reasons why they can’t start investing. These reasons are:
- Not having enough time
- Not having enough money
- Not wanting to be a landlord
However, Monick explains that these reasons all have underlying fears that need to be solved. She is working on breaking these fears and limiting beliefs. She shows women how they can start real estate investing with very little money or time by being resourceful and having the right mindset.
“It’s a lot like buying shares in any company. This is the real estate company.”
Monick talked about syndication in this episode. Syndication is investing in specific groups of property. Although it is possible to be a passive investor in a blind fund, Monick prefers to do project-specific investing, where she knows the properties and the market.
According to her, the 3 most important things to look out for in syndication is the team, the market, and then the plan with the property. Her advice for real estate investors when they evaluate the team is to look for the 3Cs: character, commitment, and capacity.
“Investing in notes is very lucrative and a good return for yourself but also helping [families] to stay in their homes.”
For people who feel like they don’t have enough time or don’t want to be a landlord, Monick suggests private money landing. Her REI advice is to have a good lawyer, who can help you with the contract, and to have your right recorded and attached to the deed.
Other passive income strategies include tax lien investing and note investing.
Mentioned in the show:
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
Special thanks to Monick Halm for taking the time to share so many great insights with us
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