AREI 28: Flipping Homes and Changing Lives with Leka Devatha
Flipping homes can give you massive profits. It can also change lives. This is what Leka Devatha will talk about in this episode. Leka moved to the US from India 13 years ago leaving a successful career in fashion merchandising. After working for Nordstrom Corporate for a few years, she realized that what she was really after was creating a legacy. She quit her corporate job in 2014 and started Rehabit Homes, a company investing in Real Estate. After a string of successful flips, she obtained her broker's license in 2017 and became one of the top-producing real estate agents in her office. She has now flipped over 50 homes and has expanded her focus to include land development, acquiring long-term rentals and building and running adult family homes.
In this episode, Leka shares her journey of scaling her real estate business. She talks about how her biggest learnings from both her best and worst deals so far. Leka also shares what it took her to make massive profits and how she is creating a huge impact through flipping homes. Join us and listen in!
[00:01 - 04:28] Opening Segment
Welcoming Leka to the show
Leka shares her background
How she got into real estate
[04:29 - 16:10] Why Clear Communication is the Key to Better Results
What Leka learned from her first flip
Leka’s greatest learning from being her own boss
Making an impact by fixing and flipping homes
Why contractors play a vital role in her business
Having great relationships with her contractors
The importance of clearly communicating your expectations
[16:11 - 25:43] What It Takes to Make Massive Profits
Leka talks about her best and worst deals
How delayed gratification helped her gain her biggest profit
Leka talks about BRRR
The advantage of holding properties long term
Virtual networking and meetups
[25:44 - 31:35] Closing Segment
Asking Leka the Adventurous Four
How you can connect with Leka
Closing words
Memorable Quotes:
“It was really delayed gratification that led me to make a massive profit. It was a lot of hustle. It was learning as I went and not being afraid to collide with those challenges head-on and take them.” - Leka Devatha
“Just do it. Don't wait. There are so many cool operators out there. Start networking extensively. Find your one person that you completely identify with, and then just put your faith in it and do it… If you never take that first step, you're just going to live in regret and be like, ‘What if I started investing yesterday or 10 years ago?’ So just do it.” - Leka Devatha
Check out Leka’s website: www.rehabithomes.com
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Until next time...
Explore more. Adventure awaits.
