The Wealth Blueprint: Financial Freedom Through Real Estate

How do you turn your property portfolio into a bonafide income stream? Hairat is a consultant with plans to become 'work optional' in the next five years. 

After joining the Open Spaces program in 2023, she already has 3 doors and her dream of getting her real estate investments to work for her is already starting to pay off. 

Living in Maryland, Hairat and her husband decided to invest in Baltimore. They ended up buying a triplex and were able to use Palak and Niti's formula to the “T” to execute their BRRRR! 

Hairat's skills lie in her ability to communicate confidently and clearly. This started with networking when she'd tell people she was a real estate investor, which led to her meeting her agent. And this continued with her General Contractor, who she'd phone daily to ensure no surprises during the reno phase.

There are lessons aplenty in today's episode of The Wealth Blueprint, where Palak makes a surprise appearance towards the end as the discussion of knowing your 'why' as you face your investment challenges reaches an absorbing climax.

Hairat's journey is eloquently laid out for anyone keen to understand the Open Spaces process and start investing in creating time freedom. Please join us. 

(on joining Open Spaces) "At some point, you just have to pull the trigger and jump in. And I find that I'm the type of person that, if I invest in something, I'm going to give it my all." ~ Hairat

In This Episode:

• 03:55 Going 'all in' with Open Spaces (respecting your own investment)
• 06:43 Why decide to invest in Baltimore?
• 12:19 How did Hairat know her first house was the right investment?
• 13:48 Crunching the numbers and adapting Palak's spreadsheets for Hairat's triplex plan
• 17:12 The value of having a good relationship with your GC (General Contractor)
• 19:58 How long did the rehab take? What challenges did you face?
• 25:41 How did you mentally overcome challenges and setbacks?
• 26:58 'New level, new devil': keeping your 'why' in the back of your mind as you face your challenges
• 32:08 Understanding the refinancing process (getting a $60K HELOC)
• 35:10 The importance of having a good credit score to get a good interest rate from the lender
• 38:58 Hairat shares her mindset shift as she works through the modules
• 43:07 Becoming 'work optional' in the next five years

Resources:

• Get a copy of Accelerate Your Real Estate https://a.co/d/bdW6j7K
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

What does Year One of a Five Year Plan to exit the corporate rat race and enter the world of real estate look like? 

Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – https://www.thebrrrrcon.com



For Andrew, a shining star of the Open Spaces community, this has involved closing on two properties already. And a plan for financial freedom that was beyond his imagination when he began.

A father of three kids who’s been married for over 22 years (he calls his wife his ‘accountability partner’) and working for a global payments company, Andrew’s life was full. But he still felt something was missing. 

And, like for many of us, the pandemic precipitated a change in direction. But what would Andrew do to find more fulfillment?

First, he tried bartending to connect with people after the lockdown, and then he met a realtor friend. This coincided with him coming across Open Spaces online. The rest, as they say, is history. 

In this episode of Sensei Sessions, where we learn from members of our Open Spaces community, Andrew shares his ‘investor mindset’ approach and how he applied this to his Property Acquisition Journey. 

First, he closed on one property and got the rehab done in two short months, and then on his second property (also in Philly) soon after that. And all within year one of what is now a well-thought-out five-year plan to acquire financial freedom through real estate!

Andrew’s property-related positive affirmations and financial acumen complement each other perfectly as he demonstrates how the Open Spaces model can work so well – beyond even your wildest dreams! Please join us.

In This Episode:

• 01:30 How the Open Spaces community has helped Andrew
• 02:50 How did COVID affect Andrew’s approach to his corporate job?
• 05:00 Andrew’s introduction to property
• 06:40 Where is Andrew at in his Property Acquisition Journey?
• 09:39 What did Andrew learn after closing on his first property?
• 14:17 Getting the rehab done in 2 months, and refinancing the first property
• 18:00 Using Other People’s Money to invest in property 
• 19:25 Lessons learned from property #1(should you work with a realtor friend?)
• 22:35 Simplifying the numbers: understanding the BRRRR calculator
• 28:00 Property #2: What happened? Getting a high ARV!
• 33:39 How do you help yourself when things are challenging? 
• 37:33 Andrew shares his property-related positive affirmations 
• 42.09 What’s next for Andrew? The challenge of finding the next deal
• 46:15 Andrew’s Takeaways: Continue Forward Every Day + Community Gratitude

Resources:

Get a copy of Accelerate Your Real Estate - https://a.co/d/bdW6j7K

Book a call - http://www.openspaceswomen.com/bookacall

FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

Website: https://www.openspaceswomen.com/

Instagram: https://www.instagram.com/openspaceswomen/

Facebook: https://www.facebook.com/openspaceswomen

Twitter: https://twitter.com/openspaceswomen

LinkedIn: https://www.linkedin.com/company/openspacescapital/

YouTube: https://youtube.com/@openspaces1251

TikTok: https://www.tiktok.com/@openspacesacademy

Are you looking to break the cycle of generational wealth? Are you fed up that other people seem to have it all figured out when it comes to making money in real estate? If so, then this episode of The Wealth Blueprint is for you! 

Find your tribe with Palak and Niti as they share their experience and wisdom, for free, in a delightful Q&A session facilitated by Aviv, their senior adviser from their Mastery community. 

Starting with their own backstory, Palak and Niti share the steps they took to quit their real jobs and make a go of it full-time, using property to create passive income and true generational wealth.

Learn how to buy and hold your assets, how to start planning for 2024 NOW, which parts of the USA are smart investment areas currently, and what it takes to get a good, reliable team together. 

Buying cash-flowing assets and deciding on which strategy to use and when to get started isn't so much about information overload (beware: analysis paralysis!)  - it's about knowing the right information for your particular investment needs. 

And that information download starts here and now. It's time to free yourself from the 9 to 5. Please join us.

In This Episode:

• 00:55 Niti shares their wealth creation backstory
• 05:34 What is the right strategy for me? Does BRRRR still work? 
• 14:55 Why you should be planning 2024 now
• 18:12 Is this the right time to invest?
• 24:47 What if the real estate market crashes?
• 27:32 How can I trust contractors and find great tenants? 
• 31:02 How do you build your team? Deciding on the key members
• 33:08 Is California a good place to invest?
• 35:16 What states are good for investment right now?
• 36:17 The Three Key Things you need to master as an investor

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator
• Book Recommendation (The Psychology of Money) - ​​https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681
• YouTube video (The Psychology of Money) - THE PSYCHOLOGY OF MONEY (BY MORGAN HOUSEL)

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

So, you're new to investing in real estate and you don't know who to trust? Fear not! Our favorite real estate power couple, Palak and Niti, are back to help you learn how to find and vet the people you will need to work with along the way in your real estate journey.

Learning how to work with real estate agents and contractors, analyze and finance deals, and employ all manner of people in an industry new to you can feel like a daunting and overwhelming task. 

After all, this is probably somewhat removed from what you've experienced previously in your day job!

See your accountant, insurance person, and your attorney as a ‘trifecta’ that will protect your assets and reduce your tax liabilities. It is critical for your success as an investor that these three work together as a team. 

Becoming part of an investor community will align you with people of a similar mindset who are going through the same processes as you, ideally in the same area. 

From assessing someone's communication skills and whether or not they specialize in real estate, to figuring out who you can trust, Palak and Niti are giving us a great checklist of hot tips when it comes to vetting your own all-star real estate team. Please join us! 

"How can I have access to the best players in the industry? And what is the best way to determine if they're going to be the right fit for me?" ~ Palak Shah

In This Episode:

• 00:30 Shifting from being an employee with a W2 desk job to becoming an investor
• 02:05 The challenges of working in a new industry
• 04:07 What are the team members that a new investor will end up hiring early on?
• 06:40 How to think about who should make up your team
• 07:15 Plugging yourself into a good community of investors
• 09:03 3 things to look for when adding new team members
• 10:20 Can your potential team member communicate well?
• 11:14 Unpacking the trust factor with a new partner
• 13:02 Looking out for red flags early in the process
• 14:09 Don't hire the first person you interview
• 15:10 Asking for references (doing your due diligence)

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

How do you finance your next property? Palak and Niti are back to offer advice on long and short-term loans, as well as financing options that you might not have even heard of yet.

Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com 

If you enjoy the empowering feeling that comes with owning real estate but remain unsure as to what your next move is for that second property, then stick around because The Wealth Blueprint has got you covered.

In this powerful episode, Palak and Niti are breaking down the difference between short and long-term loans and then crunching the numbers on what an average deal could look like so that you can see just how little money you actually need to bring to the table. 

They're also offering us sage advice on when you should use a hard money lender (almost always) and when it's okay to go with getting a loan from a friend or family member. 

And if you're looking to really build your empire, then getting a conventional loan from a bank simply won't do! You'll need a commercial loan as you turn two properties into three, three properties into four, and so on! Please join us!

In This Episode:

• 00:27 What is the difference between a short and long-term loan?
• 02:40 What are your short-term financing options?
• 03:54 Crunching the numbers on a short-term financing opportunity
• 05:50 The pros and cons of private money and hard money lenders
• 09:00 What are your long-term financing options?
• 11:44 Examples of long-term commercial financing
• 13:17 What is a DSCR loan? 
• 14:46 What should you look out for with both short and long-term money lenders?

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

How can you make $100K in a single real estate deal without buying another investment property? Welcome to the easiest BRRRR deal you can do!

Palak and Niti have executed this deal three times so far. And, so long as you own your primary residence, you can easily make $100K by forcing the appreciation on the property that you live in. Many others in the Open Spaces community have done it too – some even successfully combined a primary residence BRRRR with a house hack!

Living in your primary residence and then fixing it over time means you don't need to spend all your renovation budget at once. There's no need for additional financing, and because you're living in the property, you can manage it better as you keep an eye on your contractors!

For many of us now working from home after COVID, improving the quality of your life by upgrading the home that you're living in makes a lot of sense. 

Isn't it time you took advantage of an unused space? Perhaps a basement that's been neglected, or by adding a full bath to a room that's not in use?

Learn how Palak and Niti used their Home Equity Line Of Credit to make over $100K on their second primary residence and marvel at the unused basement that is now their office and broadcast studio! This could be the easiest $100K you'll ever make.

 "There's so many things you can do, today, to upgrade your life and upgrade your living, but also have a good, worthy (property) appreciation. ~ Niti Jamdar 

In This Episode:

• 00:45 Case study: a primary residence that Palak and Niti bought for $400K and sold for $700K 
• 03:59 Palak and Niti put their upgrade strategy 'on steroids' for their second property
• 06:37 How to use a HELOC from the bank as seed money from a hard money lender
• 08:15 What can you do to add equity to a primary residence?
• 09:40 Coming to you live from Palak and Niti's third primary residence BRRRR project!
• 13:45 What to do when you've forced the appreciation
• 15:20 What BRRRRing your primary residence can do for your overall business
• 17:55 Doing a primary residence BRRRR and house hack at the same time!

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator Course

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

What does it feel like to really 'own' your identity as an investor? Angie was part of the Open Spaces team but didn't yet own any property herself. She was stuck in the 'I'm still thinking about it' phase. Who can relate? 

Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com 

Eventually, Angie grew tired of seeing other people (older than her and with seemingly more to lose) sharing their joy at completing the Open Spaces program and closing on their first property. So she did something about it. 

This is the story of 'Angie's Swiss Army Knife' BRRRR and how she managed to buy a multi-level two-door apartment in St. Louis and effectively live in the bottom half rent-free! 

Angie candidly shares how she and her partner were able to align as a couple for their first investment, and where they're at in the process now. 

Please join us on this 'Sensei Sessions' episode of The Wealth Blueprint and discover just what it takes to move from being a 'thinker' to a 'doer.' 

Time freedom and real estate investment opportunity awaits! Please join us!

 "After a few months of bringing people into the program, I started realizing that these people all have properties. These people that I was talking to a few months ago now have two doors and they're moving forward in life, and I'm still thinking about moving forward in life." ~ Angie 

In This Episode:

• 03:34 What was a pivotal moment for Angie to commit to investing in real estate?
• 05:31 Why it doesn't have to be perfect to make money
• 06:17 The details of 'Angie's Swiss Army Knife' BRRRR 
• 14:50 What stage of the process is Angie at now?
• 16:53 The value of living in one of your two-door properties
• 18:33 Angie elaborates on her time freedom ambitions
• 20:30 'You let the numbers tell us' – using the calculators!
• 23:15 How did Angie find people she could trust in construction? 
• 27:00 How would Angie help others get over their initial hesitancy?
• 30:11 How do you align as a couple investing together?

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com 

How can you reduce the vacancies in your rental properties? Using systemized processes and, more specifically, automation scheduling software, 'lockboxes,' and self-showings – that's how!

Palak is sharing a major real estate hack with us today: the ability to vet potential clients who click on your listing. And then have those vetted clients check out your property without you having to open up for them!

With one click on Zillow, automation scheduling software allows the interested party to be led on a curated process for people who are searching for properties, all the while asking for basic information based on your personal screening criteria. 

The end result is a scheduled showing, which you can also structure according to your business needs. 

For Palak, this has been a revelation, with her properties being rented as fast as 3 days after being on the market, thanks to the software she's now using. 

And, with the wonders of modern technology and 'self-showing lockboxes,' potential tenants who are just driving past your property can schedule a visit and then let themselves in for a look at your property!

Always performing her due diligence when it comes to real estate recommendations, Palak has vetted two automation scheduling software brands for us, namely Tenant Turner and ShowMojo. 

Which comes out on top? And which could boost your business? The answers lie just inside the lockbox in another informative episode of The Wealth Blueprint that will help ensure your rental properties don't stay empty for long! Please join us. 

"The market's shifting. And 2024 could be the year when the biggest wealth rebound happens. And what we want to do is get you completely set up for what is about to happen in this economy." ~ Palak Shah

In This Episode:

• 01:23 News about thebrrrrcon.com! A planning session with Palak! Meeting other investors!
• 03:58 How does automation scheduling software work?
• 05:20 Ask your property rental company what their process for scheduling showings is
• 06:15 Palak vets Tenant Turner and ShowMojo, two automation scheduling software brands
• 07:14 The amazing 'self-showing lockbox'!
• 08:53 The Pros and Cons of lockboxes
• 12:03 Do the advantages outweigh the disadvantages of a lockbox system?

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

How do you budget for your construction? Many people investing in real estate are not particularly well-versed in construction, so how much should you know about a builder's plans for your property before you invest?

Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com 

Palak is offering us three key steps to help formulate a framework for how we estimate, solidify, and sign off on a construction budget. But first, she is asking you to show up as a legitimate investor, because just as investors are vetting their building contractors, so too are contractors vetting their investors!

So do your research and come prepared! Part of that preparation is provided for you in this awesome episode that will show you how to analyze your deals properly, and finish your project on budget – and on time!

Learn how to add a contingency percentage to your estimate, and tighten up your numbers at the due diligence phase of your project.

There’s also stellar insight on how to see your contractors as your creators as you troubleshoot together before the real building begins. It's time to roll up your sleeves with The Wealth Blueprint! Managing a good construction team has never been easier! Please join us. 

"Create that investor brand... You want to show up as a legitimate investor. Not someone who's kicking the tires... Educate yourself, build those skills up. You want to make sure you show up as an investor who means business." ~ Palak Shah

In This Episode:

• 01:00 Does understanding construction need to be part of your skill set for real estate investment?
• 02:30 Introducing thebrrrrcon.com
• 06:05 Are YOU implementing the BRRRR strategy NOW? 
• 07:20 Beware! Underestimating construction costs and resources
• 09:05 Why contractors are also vetting new investors
• 10:58 Three key steps to budget your construction well 
• 13:30 Adding a contingency to your estimate
• 14:50 Getting into the due diligence phase (tightening your numbers)
• 15:24 What to do with your contractor as you finalize your budget
• 17:48 Why money (and success) loves speed!

Resources:

• Get a copy of Accelerate Your Real Estate 
• Book a call - http://www.openspaceswomen.com/bookacall
• FREE 5-Day Real Estate Investor Accelerator

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy

What BRRRR model is right for you as you look to build generational wealth and ditch the dreary 9 to 5? Open Spaces' very own Palak Shah is speaking to us directly in today's inspiring episode of The Wealth Blueprint which will help you focus on which BRRRR strategy is best for you. 

Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com 

Learn more about the 'Swiss Army Knife' of BRRRR models (called 'The BRRRR House Hack') that is so multi-faceted it can work alongside your lifestyle! Or perhaps you are sitting on a whole lot of equity in your home and the Primary Residence BRRRR is more suited to get you started?

According to Palak, there are four BRRRR models you should give due consideration to as you look to start and grow your own portfolio. By understanding these four key proven modalities, you'll be setting yourself up for long-term success by following in the successful footprints of others. 

Just ask Palak: she started with $25K and has built up a $10 million portfolio in ten years! 

Understand 'The Three S's' (Small! Simple! Scalable!) and let's empower you on your real estate journey with a BRRRR model that's ideally suited to your lifestyle and financial ambitions. Please join us. 

"You want to invest somewhere, in a kind of a property, where you can implement the (BRRRR) strategy again and again." ~ Palak Shah

In This Episode:

• 02:00 Understanding the 'Property Avatar' BRRRR Model 
• 04:04 The power of commercial financing to scale quickly
• 04:37 Should you invest out of state? 
• 07:25 Beware! Don't invest in a property where the numbers don't work!
• 09:25 Tips for out of state investing 
• 10:05 Learning how to define what property to go after (and check in on the numbers)
• 10:41 The Primary Residence BRRRR: are you sitting on a lot of equity?
• 12:28 What is HELOC?
• 16:04 What is 'The BRRRR House Hack'?
• 18:13 Palak's advice on which BRRRR strategy to start with

Resources:

Get a copy of Accelerate Your Real Estate - https://www.openspaceswomen.com/book 

FREE 5-Day Real Estate Investor Accelerator - https://www.openspaceswomen.com/5day 

Connect with Palak and Niti

• Website: https://www.openspaceswomen.com/
• Instagram: https://www.instagram.com/openspaceswomen/
• Facebook: https://www.facebook.com/openspaceswomen
• Twitter: https://twitter.com/openspaceswomen
• LinkedIn: https://www.linkedin.com/company/openspacescapital/
• YouTube: https://youtube.com/@openspaces1251
• TikTok: https://www.tiktok.com/@openspacesacademy