CEO and founder of Diamon Point Homes, Kathy Jang talks to us today about how she went from a W2 job in marketing, to having a real estate portfolio of over 1, 200 multifamily units. From humble beginnings renting a single townhome, Kathy is a perfect example of how passive income from multifamily real estate can allow you to gain financial freedom. Her meteoric rise to real estate royalty makes this a must-hear episode for everyone! Join us, as we discuss the pros of multifamily properties over single-family homes. We learn about the amount of work required to make successful deals, and key metrics Kathy uses to decide where to invest. We go into what differentiates A, B, and C class housing and how each class weathers dips in the market. Hear Kathy’s motivation and advice on how to ensure investors also attain financial freedom, and how to make a positive impact in the communities she invests in. To conclude this inspirational episode, we ask Kathy our final four questions, and receive down-to-earth, honest answers that you won't want to miss!
Key Points From This Episode:
- An introduction to Kathy Jang, mother, marketing professional, and real estate star.
- Learn why Kathy changed from single-family homes to multifamily properties.
- Tips for new investors: persistence is key.
- The key area metrics Kathy looks into before choosing to invest.
- Why B class properties are solid investments in any economy.
- Find out what the difference between A, B, and C class properties is.
- The benefits of passive income: stop trading time for money.
- How multifamily properties can fast-track your financial freedom.
- Why understanding tenant’s needs can help make a positive impact in the community.
- How marketing skills can benefit your real estate investing.
- Why Google Suite is a must-have tool.
- Lessons learned about why cash flow is king.
- Discover more about Kathy and her latest ventures.
Tweetables:
“I actually became a real estate professional because I really wanted to spend that time with my priorities.” — Kathy Jang [0:01:59]
“I think the scalability of multifamily is really a very great pro to it. Also, I love the team aspect of multifamily. I think with single-family rentals, you're on your own, you do your thing, and it just isn't as fun because you're not working with other people doing that.” — Kathy Jang [0:04:46]
“Whether it's a good economy, a bad economy, there's always a solid need for class B properties.” — Kathy Jang [0:08:14]
“You no longer have to always trade your time for money.” — Kathy Jang [0:11:11]
“If the only way you can get your income is through your time, then it's hard to really build a retirement plan based off of your W2.” — Kathy Jang [0:11:18]
Links Mentioned in Today’s Episode:
Passive Income Through Multifamily Real Estate Facebook Group