28: The 3 Phases of Successful Real Estate Investing
[BACKFLIP] Struggling with property data and financing? Discover Backflip—the all-in-one platform that instantly analyzes properties, pulls high-quality comps, and provides fast evaluations. Plus, apply for loans directly through the app and get help choosing the right investment strategy. Transform your real estate investing today! Click HERE to download the Backflip app. In this episode, I walk you through the entire lifecycle of a real estate investment, breaking down each crucial phase so you can make smarter decisions along the way. We start with acquisition, the hands-on stage where you set your goals, find the right property, and build a reliable team to support you. Next, we tackle the often-overlooked stabilization phase, where the key to long-term success lies in setting up tenants, streamlining operations, and transitioning your investment to a more passive state. Lastly, we dive into the exit strategy, explaining how I assess my property portfolio each year to decide whether to hold or sell properties based on performance and market conditions. Whether you’re a first-time investor or looking to grow your portfolio, this episode is packed with practical tips to guide your investment decisions and maximize returns. KEY POINTS: - Phase 1: Acquisition - Determine your market, have a rental strategy, and create your team - Phase 2: Stabilization - Choose tenants, set up property management, and create systems for business - Phase 3: Exit Strategy - Factors to consider: increased expenses, difficulty finding tenants, and low cash flow QUOTES: “Don't just go out there and start buying property. You need to have a strategy — some goals that you are working towards.” – Erika Brown “One indication that you truly have stabilized your property is that you don't have to be actively involved on a day-to-day basis. That is an example that things are stable.” – Erika Brown RESOURCES: [BACKFLIP] Struggling with property data and financing? Discover Backflip—the all-in-one platform that instantly analyzes properties, pulls high-quality comps, and provides fast evaluations. Plus, apply for loans directly through the app and get help choosing the right investment strategy. Transform your real estate investing today! Click HERE to download the Backflip app. [OILI EXPERIENCE] Use code PODCAST10 to get 10% off your ticket to the Owning It and Living It Experience, November 1-3 in Atlanta, Georgia! Don’t miss out on learning from top industry experts like Henry Washington, Kendra Barnes, Jackie and Preston Perry, Lecrae Moore, and more. Plus, I'm giving away a fully renovated house—this year only! No virtual tickets—be in the room to level up your real estate game and immerse yourself in a unique blend of culture and knowledge. Click HERE to get your ticket. [FREE CONSULTATION] Looking to buy, sell, or invest in real estate in Atlanta? My team of expert, investor-friendly agents is here to help! Book a free 15-minute consultation with one of my agents today, and let’s figure out your next move together. [FB GROUP] Loving the podcast and want to connect with me and our incredible guests? Join the Owning It and Living It Facebook group! It’s your go-to spot for real estate tips, advice, and a supportive community of investors just like you. Join us today and let's take your real estate journey to the next level. Erika Brown IG: @erikabrowninvestor LinkedIn: @erika brown Wealth Within Reach is produced by EPYC Media Network
