Arianne Lemire is a wealth creator and real estate investor who now owns over 1,800 multifamily units and flipped over 500 houses in the last several years in the Florida Panhandle. Ariana has already achieved financial freedom, which means that she’s investing her vehicles and projects, especially within real estate, and then letting the profits, the revenue, or dividends pay for their living expenses.
Through their website, wealthgym.com, they teach people how to retire in seven years. You're not actually going to retire. But you will have this passive income that pays for your needs and wants – and more!
Here are some power takeaways from today’s conversation:
Arianne’s background and how she got into real estate investing
Getting past the fear of risk and ways to mitigate the risk
Hiring a property management company
What house hacking is and ways to do it
Navigating through the waters in a male-dominated industry
What financial freedom meansWays to Mitigate the Risks of Real Estate Investing
People always needed a place to live and people would always pay X amount within reason. By padding your numbers, you don't have to be charging the most amount of rent at all times. Then the risk is fairly low, especially if you keep reserves for all of your properties and make sure you have insurance in all of your properties.
And you don't have to worry about changing the locks for the doors or fixing the toilet because you will be hiring a property management company who will do that for you. There's a lot of ways to mitigate risks, that's why knowing your numbers is really important.
The Concept of House Hacking
House hacking is making money off of the house you live in. There are different ways to do that:
1. Buy a 2-4-unit house with your 0 to 3%, down payment, and then you rent out the other three units.
2. Buy a four-bedroom house with a 0 to 3% down payment, and then you rent out the individual rooms. You live for free as you're making extra money from the other roommates.
3. Use the money from your house as a home equity line of credit. For instance, you bought your house five years ago, and you have extra $200k in equity. You can tap into that with a home equity line of credit, and you're getting a 3% interest rate on it, and you can invest it in something else that makes 15% to 20%.
Navigating Through the Waters in a Male-Dominated Industry
Most people who are going to matter in your life don't care what you look like. They don't care what you sound like and they don't care that you're female. If they see that you're a good human and that you are a good fit for whatever they're doing because most of it is a business transaction, then they're going to respect you, and they're going to treat you the way you deserve to be treated. And it starts with treating yourself that way. Once you start showing yourself that respect, then everybody else will show you that respect.
What is Financial Freedom?
It means that your investment income or passive income pays for your needs, wants, and more. You don't have to work for money and it frees people to do what they're meant to do. Sometimes we look for the easy way out. But part of the equation is not spending all of it if you make a million dollars this year, or $100k this year, and instead of putting some of that money into an investment that pays you over and over and over. That's the investment income or the passive income.
