225: Surviving a Real Estate Crash and Investing Out-of-State with Kathy Fettke

A lot of investors love to talk about the good times. But for life-long real estate investors, failure is often inevitable, especially during real estate crashes. That’s why we’re excited to bring you this discussion with Kathy Fettke today on the BiggerPockets Podcast. Kathy started her journey toward financial independence after receiving shocking news from a doctor, but used that motivation to begin investing. Alongside her husband, Kathy built up an impressive portfolio but struggled during the latest real estate crash. Still, she was able to emerge (and thrive) from the lessons learned. Today, Kathy shares how to avoid the mistakes that led to her difficult times! She also shares insight into buying real estate at a distance and handling the problems that can arise from long-distance landlording. In This Episode We Cover:The story behind the radio showHow Kathy landed her first deal without money downHow she converted single family units to multifamiliesA discussion on FHA loans and house hackingKey pieces of Robert Kiyosaki’s adviceTips on buying from a distance and using property managersWhat you should know about finding the right agents, CPAs, and property managersWhat happened when Kathy got “too confident”The important lessons she learned after the collapseWhat metrics to look for in a marketWhat it takes to come up with $3 million in five minutesAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Hard Money LendersRobert KiyosakiReal Property ManagementBooks Mentioned in this ShowSet for Life by Scott TrenchExtreme Success by Rich FettkeRetire Rich with Rentals by Kathy FettkeThe Millionaire Next Door by Thomas J. StanleyPriceless by William PoundstoneThe Da Vinci Code by Dan BrownWealth Can’t Wait by David OsbornAugmented by Brett KingTweetable Topics:“The hardest times in our lives tend to be the times when we have to dig deep.” (Tweet This!)“Any time you get in front of the path of progress, you’re going to make money.” (Tweet This!)“If you can’t buy this car with cash, you shouldn’t have it.” (Tweet This!)Connect with KathyKathy’s CompanyKathy’s Podcast

Episode 225 of the BiggerPockets Real Estate Podcast podcast, hosted by BiggerPockets, titled "225: Surviving a Real Estate Crash and Investing Out-of-State with Kathy Fettke" was published on May 4, 2017 and runs 78 minutes.

May 4, 2017 ·78m · BiggerPockets Real Estate Podcast

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Summary

A lot of investors love to talk about the good times. But for life-long real estate investors, failure is often inevitable, especially during real estate crashes. That’s why we’re excited to bring you this discussion with Kathy Fettke today on the BiggerPockets Podcast. Kathy started her journey toward financial independence after receiving shocking news from a doctor, but used that motivation to begin investing. Alongside her husband, Kathy built up an impressive portfolio but struggled during the latest real estate crash. Still, she was able to emerge (and thrive) from the lessons learned. Today, Kathy shares how to avoid the mistakes that led to her difficult times! She also shares insight into buying real estate at a distance and handling the problems that can arise from long-distance landlording. In This Episode We Cover: The story behind the radio show How Kathy landed her first deal without money down How she converted single family units to multifamilies A discussion on FHA loans and house hacking Key pieces of Robert Kiyosaki’s advice Tips on buying from a distance and using property managers What you should know about finding the right agents, CPAs, and property managers What happened when Kathy got “too confident” The important lessons she learned after the collapse What metrics to look for in a market What it takes to come up with $3 million in five minutes And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Hard Money Lenders Robert Kiyosaki Real Property Management Books Mentioned in this Show Set for Life by Scott Trench Extreme Success by Rich Fettke Retire Rich with Rentals by Kathy Fettke The Millionaire Next Door by Thomas J. Stanley Priceless by William Poundstone The Da Vinci Code by Dan Brown Wealth Can’t Wait by David Osborn Augmented by Brett King Tweetable Topics: “The hardest times in our lives tend to be the times when we have to dig deep.” (Tweet This!) “Any time you get in front of the path of progress, you’re going to make money.” (Tweet This!) “If you can’t buy this car with cash, you shouldn’t have it.” (Tweet This!) Connect with Kathy Kathy’s Company Kathy’s Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode Description

A lot of investors love to talk about the good times. But for life-long real estate investors, failure is often inevitable, especially during real estate crashes. That’s why we’re excited to bring you this discussion with Kathy Fettke today on the BiggerPockets Podcast. Kathy started her journey toward financial independence after receiving shocking news from a doctor, but used that motivation to begin investing. Alongside her husband, Kathy built up an impressive portfolio but struggled during the latest real estate crash. Still, she was able to emerge (and thrive) from the lessons learned. Today, Kathy shares how to avoid the mistakes that led to her difficult times! She also shares insight into buying real estate at a distance and handling the problems that can arise from long-distance landlording. In This Episode We Cover: The story behind the radio show How Kathy landed her first deal without money down How she converted single family units to multifamilies A discussion on FHA loans and house hacking Key pieces of Robert Kiyosaki’s advice Tips on buying from a distance and using property managers What you should know about finding the right agents, CPAs, and property managers What happened when Kathy got “too confident” The important lessons she learned after the collapse What metrics to look for in a market What it takes to come up with $3 million in five minutes And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Hard Money Lenders Robert Kiyosaki Real Property Management Books Mentioned in this Show Set for Life by Scott Trench Extreme Success by Rich Fettke Retire Rich with Rentals by Kathy Fettke The Millionaire Next Door by Thomas J. Stanley Priceless by William Poundstone The Da Vinci Code by Dan Brown Wealth Can’t Wait by David Osborn Augmented by Brett King Tweetable Topics: “The hardest times in our lives tend to be the times when we have to dig deep.” (Tweet This!) “Any time you get in front of the path of progress, you’re going to make money.” (Tweet This!) “If you can’t buy this car with cash, you shouldn’t have it.” (Tweet This!) Connect with Kathy Kathy’s Company Kathy’s Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices