Your Way Into Real Estate Natalie Mitchell

Flip Files: The Starter House
Lean, clean, and quick is the name of the flipping game! In this episode, Natalie shares details about her latest flip house –a detached starter family home flipped in 3 days for a substantial profit!
“What is the least amount of work for the least amount of money, and the shortest amount of time that I can invest in this place to get a higher return? How much of an extra return am I able to get if I do more? Is it worth me doing?”
Natalie’s flipping process is streamlined and very successful. Systems are meant to work over and over, and hers does the trick every time. In a flip, time exposure is your best friend or your worst enemy. So, when she purchased this particular fixer-upper, she realized time wasn’t on her side as the market was changing by the week at lightning speed. Natalie determined that a mini-flip would lead to the greatest return. She repainted, repaired the HVAC, plumbing, and electrical issues, installed new carpet, and tackled some basic cosmetic issues that would spruce up the house, and increase the value. Every house needs a memorable element! Listen as Natalie tells you what she did with the interior doors! You won’t believe it works. 
Some key elements Natalie looks for in a flip is focusing her search on a family community. The house must have at least 3 bedrooms above grade, a reasonable main bathroom with a tub, and a good kitchen layout. It’s all about hedging risks. What is the market doing, who’s the likely buyer, and who is going to live here? What must you do to get a buyer to choose this house over something else? And how do you make it as aesthetically pleasing as possible knowing that people are buying at the top of their budget and they’re not going to have any money left over to do anything? How do you get buyers to say YES from the second they walk up to the house?
“Flipping is awesome. It’s fun, it’s creative, and I have to say… It's so much more enjoyable to do it in 3 days. You get in, get out, make your money… done!”
 
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Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast!
 
As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!”
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Natalie Mitchell: website | instagram | facebook

Flip Files: How Do You Decide What to Change in a Flip?
How do you decide what to renovate? What to let go? Where to spend your money? In this episode, Natalie Mitchell walks us through the best tips & tricks about renovating a flip, both big and small!
“Some of the best returns I had on flips I spent almost nothing on.”
A big misconception with flips is that adding high amounts of money adds the most value and increases the resale price. That is not the case. Of course, generally, the value goes up the more you invest, but there certainly is not a direct correlation. One important technique in a flip is “High vs. Low”. Do you have to use the expensive version, or can you use the cheaper DIY version? You need both high and low in most projects. The key is to balance the two, for both your bank account and the overall look of the remodel. It’s always about flow. Does it fit together?  
You don’t always need to have a big renovation to make a big change. Sometimes, the smallest things make the biggest impact. “Staging 1-2-3” is the backbone of flipping. The three tiers include (1) the things that are free, easy, or cheap; (2) changing items that require a little more effort or money; and (3) things that might cost a lot more money and/or effort but are worth considering. You don’t want to over-improve a home when doing a flip. You will not get your money back if you overspend.
The key to a flip is to give the buyer the impression that there is more space than there actually is. Instead of trying to create more, try to find the potential in what you already have. It’s often the smallest spaces that create the biggest impact. Go neutral on the bigger elements. Be brave, be bold, and be first. And always ask for help!
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Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast!
 
As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!”
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Natalie Mitchell: website | instagram | facebook

Property Management 101
In this episode, Natalie is joined by her personal assistant Lihi Edelman to flesh out what exactly professional property managers do. There’s so much that goes on in their roles and each day brings new excitement and surprises!
This past month, they've had 4 dishwasher leaks, 3 washing machines die within the same week, an exploding toilet, hallway bugs, and a water tank blow.  So, what's their role in this? To do all the work so that the investor/owners don’t have to worry about a thing.  This also includes tenant evictions, move-ins and outs, inspections, professionally drafted leases, bylaw reviews, arranging for repairs and inspections, booking elevators and moves, and more.  
“Our tenants aren’t just renting an apartment or house; they’re renting us and our systems. The chances are, the more properties you have, the more stuff is going to happen.”
They recognize it’s a partnership of where they're living and the experience they’re going to have living there. Natalie and her team have amazing automated systems for payments, repairs, communication, and tenants like the fact that this is what we do all day long and have the systems in place. It makes them easy to reach. They’ve also recognized there’s a growing resistance from tenants to not rent from owners that don’t properly manage rentals full time.
If you want to learn more, Natalie’s second book, So, You Want to be a Property Manager? just came out and is packed full of stories and advice about starting your property management journey. There’s a lot that property managers do that renters don’t really think about.  Understanding leasing is super important, you must be a management expert.
“To owners- My job is for you to never think about your rental and you just receive your deposits every month. But, we get a little bit of everything. We want to do the best possible job for our owners.”
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Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast!
 
As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!”
 
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Natalie Mitchell: website | instagram | facebook | linkedin

Investing is Different for Everyone
Everyone has a unique story of their entrance into Real Estate. In this episode, join Natalie as she interviews investor Tamara Gehring. Tamara shares her unique story of getting into the business of real estate investing and how she’s diversified her housing portfolio.
Instead of selling a home when it was time for a new one, Tamara has turned all previous homes into rentals. She’s gone from being someone who owns rental properties through the traditional lending process, to becoming a lender herself! Eventually, the banks will say “no” to giving you money and you must get creative. Preparation, education, and information are the pillars of a successful real estate investing business.
Where do you find the money when the money runs dry? Started taking courses! Tamara found herself in mastermind groups, which led her to a joint investor deal as the lender. It’s pivotal to recognize that there’s always an opportunity to learn more and grow. If you stop learning you might as well quit.
“I think that you’ve really opened people’s eyes to the fact that they don’t have to get their hands dirty to be a real estate investor.”
Real estate is such a rabbit hole. You go down and there are so many other tunnels you get drawn into. It’s so exciting! There are SO many ways to find your path in this field.
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Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast!
 
As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!”
 
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Natalie Mitchell: website | instagram | facebook | linkedin

The Funnier Side of Real Estate
Real Estate is always serious. Sometimes the best stories come out of closings and working with a diverse set of clients. Join Natalie and Amy Skinner in a casual conversation of hilarious, offbeat and weird things that happen in real estate closings.
“Most of the time, real estate closings go really well. One of the ten, some sort of problem happens. Frankly, money usually solves everything.”
We don’t wish to spoil our stories in the show notes, but we’ll give you a taste of what to expect. What do you do if you discover a half million dollars in the walls of the house after purchase? What if after closing, you discover the house is on the property line, with not enough easement on the property barrier? What would you do if, upon moving in, you discover the previous tenants camping in the backyard of your new home?
A moral of the stories is to always get an updated real property reports! These documents usually show problems early and can help be proactive in dealing with anticipated issues.. Always trust your realtor. If there’s a problem, call them right away. Just being out of the house by noon isn’t enough for a possession, you must be off the property completely. Your lawyer and realtor are here to help cover your back if any odd situation occurs!
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Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast!
 
As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!”
 
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Natalie Mitchell: website | instagram | facebook | linkedin
 
Amy Skinner - Amy Skinner Law: website | twitter | facebook | linkedin

Building Series: Preserved Wood Foundations
Let’s stop the stigma around Preserved Wood Foundations. In this episode, Natalie is joined by Verlin Koch, a structural engineer for 45 years who specializes in preserved wood basements. A popular foundation technique in Calgary, you have nothing to fear when you see one in a house.
So, what are Preserved Wood Foundations? They’re built of engineered wood that has been specially treated in a way that prohibits breakdown and insect burring, then frames the basement out of that material using special details, such as galvanized nailing. They grew popular starting in the 1960s in Calgary. When the wood basements were catching on in the mid to late 70s–90s, there were a lot of wood basements being built.
There’s a stigma around it… Should people be freaking out when they see one, instead of the typical concrete foundation? No! Wood basements are significantly warmer. Over time concrete degrades as well, and given proper maintenance, PDF & concrete basements have the same lifespan. All wood basements must also have an engineer design & inspector; thus, quality is always checked. Concrete foundations aren’t engineered or checked the same way. !
“It is absolutely imperative to have a specialized structural engineer come out and inspect your PWF basement because a home inspector is not experienced enough to give you an opinion on this certified engineered build. You need a structural engineer for those kinds of situations.”
It has the same life span as concrete and there are no negatives. It’s nothing to be afraid of. If you become more educated about this, it will also level you up in your own real estate experience!
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Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast!
 
As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!”
 
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Natalie Mitchell: website | instagram | facebook | linkedin
 
Verlin Koch - KTA Engineering: website | linkedin