Passive income is fast becoming an ideal investment strategy in real-estate and property sectors. However, passive investments can be complicated and overwhelming to first-time property investors and stopping people from taking full advantage of the approach. In today’s episode, we tackle this issue with Becca Hintergardt, who is a multi-family investor who specializes in apartment buildings and development of passive income using real-estate. The passive investments are what Becca believes has provided her not only financial freedom, but a better quality of life as well and her aim is to educate as many people as possible about using real-estate as a vehicle to develop passive income. Today, Becca discusses the challenges and opportunities in property development particularly in countries outside of the United States like Costa Rica and highlights her experiences living there, as well as the benefits that come with travel and a healthy lifestyle.
Key Points From This Episode:
- An explanation about Becca’s background and experience as a property investor.
- Blue zones, and how simpler living has led Becca and her family to a happier and healthy life.
- Becca’s decision to relocate her family to Costa Rica, and escaping a stressful, busy and unhealthy lifestyle.
- The challenges and experiences of Becca's first 6 months overseas.
- Becca describes her and her family’s life in Costa Rica and how different it is from the life back home in the United States.
- The importance of being outside of your comfort zone for personal growth.
- Becca explains her experience in buying and converting a property in Costa Rica.
- The challenges faced by being a ‘trailblazer’ in the industry.
- Becca explains the social benefits that can be created though converting old hotels to multi-family units.
- The unique problems of converting a hotel to a multi-family unit, such as layout and plumbing issues.
- Becca gives a brief overview of the challenges in working with government when converting properties.
- The traditional methods of converting properties, such as using a ‘heavy lift’ companies.
- Becca reminisces about her favorite project and what made it so special.
Tweetables:
“No growth happens until you're outside of your comfort zone. Happiness is growth. If you're not growing, you're not happy.” —Becca Hintergardt [0:10:49.6]
“While our solutions are great for the world, this is not for the faint of heart.” — Becca Hintergardt [0:18:27.1]
“No, they’re floor to ceiling windows, if you open them you’ll fall out.” — Becca Hintergardt [0:21:20.1]
“I like to do different things, look for deals and places where others don’t go.” — Becca Hintergardt [0:26:27.2]
“In these markets, you can double your money in 18 months.” — Becca Hintergardt [0:27:49:0]
“Get out of your comfort zone. Get out there in the world and travel. Travel is transformative. It brings distance, it’s brings clarity.” — Becca Hintergardt [0:32:50.9]
Links Mentioned in Today’s Episode:
Passive Income Through Multifamily Real Estate Facebook Group