The Right Place & Right Time + Wealth Building + Out Of State Investing

A longer but worthwhile read.

I am writing this to you currently headed home from a last minute trip to Austin, TX. While work travel can sometimes be hectic and draining, this trip featured so many things that just miraculously worked out, and I want to share some with you…

Last Thursday, I was checking my schedule in an effort to plan ahead for a wealth-building workshop I had signed up for. To my surprise, I suddenly realized that instead of it being virtual, it was an in-person event taking place in Texas! Sharing this with a friend who lives there, she very kindly offered to let me stay at her apartment since she would be out of town during the event.

While at this amazing workshop - which I will be sharing a lot more about in the next coming months! - I was invited to stay on an extra day in order to hear a well-known real estate speaker. How could I say no?! So I stayed Tuesday also.

While at this speaking engagement, I checked Instagram and saw that a friend/investor partner was headed to Austin to teach a class on out-of-state investing. Truly, what are the odds that I would be in Texas while he was also traveling there to speak? So I seized the opportunity to stay another day.

So much learning and big ideas were shared with me over the last 3 days…my head is certainly spinning with so many new ideas!

Being a forever student will always be part of my wealth journey. I just don't know what I don't know…and so, I need to stay curious learning from those who are a step (or ten) ahead of where I currently am.

I share this because real estate is a huge part of my wealth plan, and by being on my client list / or even subscribed to this newsletter, I presume it is already a part of yours also! Wherever you are on your journey with real estate or wealth is a perfectly fine place to be!

One of the big tangible takeaway from the first workshop was the wealth plan annual assessment. Below is the spreadsheet. This may seem a bit overwhelming at first glance, and it is geared to those running their own business but it will give you an idea of the options out there for you, plus a starting stable of questions to ask your team (aka insurance agent, estate planner, financial advisor, and your trusty Realtor ). If you want to walk through this scorecard together or have questions, let me know! I have recommendations for the experts that can help you set all of this up. 

CLICK HERE TO ACCESS THE FINANCIAL SCORECARD.

Lastly, I want to be transparent with my investment goals, in hope that it will encourage you all to make similar or even bigger moves. Real estate investing is way more attainable than most people think! 

A strategy I will be executing against this next year, is out of state investing, specifically in Louisville, KY. In 2016, Louisville started implementing the same strategy that Austin, Texas put into place in order to strategically create their boom. 

Check out all of their developments happening here.

On top of developments, property values are much lower there than in Minnesota, and they have a much higher renter demand, creating opportunity for strong cash flow. They are also known to be a “safe” & “resilient” market, have very little dip in home prices during the last recession.

 I could go on and on about this and how excited I am to be hopping into this market. Which is why I have partnered with the WSG Real Estate Team in Kentucky, who specializes in investment properties. My clients will also be given access to their off-market deals. If you are interested in hearing more, click the link below to register for a call to cover it all more in depth.

LEARN HOW TO INVEST IN REAL ESTATE OUT OF STATE

This week, I was right where I needed to be, and it was SO fun. I hope you also, in some way, felt that you were in the right place at the right time, too! 

If you ever have any questions about real estate, need referrals, or in general questions about wealth building, or just want to catch up, please reach out!