Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast real estate developer, fund manager and educator, Kathy Fettke. Kathy is the co-CEO of Real Wealth Network, a California-based real estate investment network helping local and international members build wealth through free education, resources and investment properties. Kathy shares her unique story of how a health scare led to her taking the first step towards a successful and lucrative career in real estate investing. She speaks to the impact that COVID-19 has had on the industry and why she’s optimistic for the future. Finally, Kathy shares why investing in real estate just made too much sense not to pursue.
Key Takeaways
- 00:36 – Tom introduces today’s guest, Kathy Fettke who joins the show to talk about the work she’s doing at her company, Real Wealth Network
- 08:27 – Kathy shares an interesting story about the 2008 housing crisis
- 15:24 – Kathy’s process for evaluating the real estate market
- 19:33 – Differentiating between ‘A’ and ‘B’ neighborhoods
- 22:38 – How the global pandemic has impacted the real estate industry
- 25:53 – What Kathy credits much of her success to
- 27:17 – Kathy speculates on what the future holds for real estate
- 34:10 – How Kathy took that first step towards real estate investment
- 40:04 – Tom thanks Kathy for joining the show and let’s listeners know where to follow her
Tweetable Quotes
“The rent that comes in doesn’t cover the costs, so it costs money to own these assets when you own them in California, unless you have a short-term rental. That’s something new that actually can cash flow, but that’s not passive. It can be, but it’s definitely more of an active investment.” (05:19)
“If you love fixing things, if you love flipping houses, you should do that near you. And, I assure you, even in this high priced market in California, there’s people around here flipping houses and making money.” (16:10)
“If you can find a place that is job friendly, and there’s jobs coming in, and there’s infrastructure growth, and it’s affordable – those are the four things – I don’t think you can fail.” (19:10)
“What people who study demographics are saying is that there’s this movement, this demographic shift, to the Southeast. It’s a beautiful place. You’ve got Florida, Georgia, the Carolinas, and Texas. And these are areas that are still pretty affordable compared to the coasts.” (28:02)
“Your accountant didn’t sit you down and say, ‘Here’s how you can pay no taxes and own a lot of real estate.’ Did your accountant tell you that? Mine didn’t.” (36:09)
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