125 - Investing in Friends With Benefits - Stephanie Harris

From Homemaker to Real Estate Investor: Building Passive Income with Stephanie HarrisJoin Emma on this inspiring episode as she sits down with her partner, Stephanie Harris, to discuss their journey into real estate investing. Stephanie, a mother of eight and a homeschooler, shares her unique path from focusing on her family to becoming a proactive real estate investor. They dive into various topics including the challenges of flipping homes, managing contractors, raising funds, and the importance of learning and adapting in the real estate market. Stephanie also highlights the significance of self-care and finding balance while handling multiple responsibilities. Whether you're an aspiring real estate investor or looking for tips on generating passive income, this episode is packed with valuable insights and personal anecdotes. Stay tuned to learn about the different strategies and skills essential for building a successful real estate portfolio.Bio:Stephanie Harris accidentally began her Real Estate investing journey in 2016. But once she had acquired her first property, she thought she had better learn what she should do, and thus began her education and her career. Over the last nine years she has learned many strategies including conventional buy and hold, flips, brrr’s, hard money lending, fundraising, and with Emma - she learned the process of multi-family syndication with a value add project. Currently, she looks for highest use scenarios for undervalued assets, and is willing to pivot to make deals work within this high interest, high price, and lower rent environment. She has purchased many projects from wholesalers, and really enjoys the process of renovation and figuring out the deal. Over the next few years, she is planning to gradually pivot to more passive projects where she can mainly invest and consult. She is married and a homeschooling mother of 8, and now grandmother to 8. If you are looking to sell a property in the Eastern Idaho area as a wholesaler, are looking for a partner to help with acquisition and management of syndication in a multi-family project, or are looking to fill a capital stack, email her at [email protected] to schedule a time to discuss. Connect:[email protected] with Emma:https://InvestWithEmma.comhttps://PartnerWithRise.com/Emmahttps://Highrise.group (Pitch Decks)00:00 Introduction and Personal Philosophy00:14 Welcome and Guest Introduction00:48 First Meeting and Partnership Formation01:37 Stephanie's Real Estate Journey04:24 Challenges and Learning in Real Estate11:31 Contractor Management and Payment Strategies18:14 Importance of Paperwork and Systems23:24 Diversification and Hard Money Lending30:14 Future Goals and Passive Income30:46 Challenges in Real Estate Investments31:34 Exploring Multifamily and Commercial Properties32:48 Planning for Retirement and Financial Security35:16 The Importance of Passive Income36:24 Balancing Family and Business43:26 Self-Care and Health Priorities54:01 Final Thoughts and Contact Information