Building Independence with Real Estate with Anna Kelley

Ana, thank you for coming back to the show and joining us today. 

You’re so welcome. 

It’s going to be great to catch up with you. Totally. It’s been great talking with you so far, and I’m looking forward to learning how you navigated COVID the eviction moratoriums and everything, and where you stand today.

But for our listeners out there who maybe didn’t hear the first interview or don’t know about you and what you do, can you give us an update? Tell us what you do, where you invest, what you invest in, all that great 

stuff. Wonderful. So I am a full-time real estate investor. I primarily focused on multi-family apartment buildings of many different sizes do joint ventures and syndications in central Pennsylvania, Georgia, Florida, and Texas, or my primary markets.

And I also invest in a lot of high-end luxury, vacation rentals. That’s another niche that’s really fun and interesting and allows me to travel. Enjoy the benefits of my properties. I started investing in real estate about 25 years ago. The first time I bought a property and I’ve been in both investing in multifamily since 2007, I have bought and had general partner ownership and about 2000 doors.

And I’m active right now in about 1200 multi-family units. 

Awesome. Feel like now you’ve mentioned your vacation rentals. I feel like I remember seeing on Facebook really toward the beginning of the pandemic that you were buying vacation rentals. And I thought to myself, privately man, is it a good time to be doing that?

I don’t know. Do I remember that right? Is that what you did? 

So Warren buffet says to be greedy when everyone else was fearful, right. And fearful when everyone else is greedy. And so I knew the market well. I bought a single-family house. That’s on the water in ocean city, Maryland. And I already owned a townhouse in this nice resort community thinking I would never be able to afford the big single right.

They were like 1.2 million at the time. And there was a distressed sale. And my broker called and said, Hey, there’s a second. He just built a big two-half-million-dollar home and home. His business is shut down and the buyer of this property had a 10 31 exchange in New York city that fell through.

And now he can’t move on to his big one until he sells this one. So I, I got a really good deal on this beach house, several hundred thousand below what it’s worth. And I said, let’s buy. And we’ll sell the townhouse when the pandemics over in the market goes up. And that’s exactly what we did. We just sold the townhouse and bought one and on the ocean in Navarre Florida, right by Pensacola.

When you have an opportunity and the market you act despite all the other things going on, Despite the fact that we were managing hundreds of units through an eviction moratorium, and I didn’t know how that was going to go. I said this is an opportunity I’m willing to take.

Awesome. So it sounds like maybe you did those vacation rental deals on your own solo, and I know you do syndications as well. Can you tell us how you’re structuring your various deals? How you’re, making them all happen, putting the money. 

Sure. So that’s like a lot of questions in and of itself.

But I’ll say this for the vacation rentals. I’ve had five. I currently have three cars. I sold a couple when the time was right. And four of those, we own one of them. I have a partner on, so we have one that we decided, it’s newer. Market to us. And it was a large purchase price, a large renovation.

And so we went in 50 50 with the partner and it’s about two hours from our home. So it’s this beautiful mountain lake in Pennsylvania, really quiet, but tons of demand and not a lot of supply. So we buy properties really that have a really unique value proposition. We don’t want to be a vacation rental that looks like every other one that we’re just one of many choices.

We want to be the one that says, that’s the one we want to stay in. And so this, we have a partnership on one. We own two and for the most part, I try to buy them myself or with one partner because we want to own these for a long time

and we want to enjoy them and actually use them for vacations every year and make memories with our family.

While cash flowing and making a really good investment. So that’s that model on apartments, I really like joint ventures as much as, or more than syndications. I do syndications. I do large syndications and I believe in large syndications, but there’s a lot of things that are happening in the economy, such as interest rate risk and legislative risk.

Risks of taxes going up, risks of rent controls, and, additional eviction moratoriums that make having to sell a property in three to five years. Not necessarily ideal when we don’t know exactly what’s coming. So I really like to buy properties that have a value add component. Very similar to syndication.

But by them with a couple of joint venture partners, with the plan to hold them for longer periods of time, maybe a 10-year old instead of a three to five-year like syndication. And if we invest with a few partners, we’re more malleable for 10 30, 1 exchange. We can cash out refi instead of selling and keep our money, turning that way and continue to invest more.

So I really look at every opportunity tailor and say, this is an opportunity. The numbers really work for this financial goal or that financial goal cash flow or growth or preservation who are the partners that I can bring in to help me take down this. And if it’s a small deal with strong returns, that’s a joint venture deal.

If it’s a large deal, it’s syndicated. 

Okay. So what would you consider small? Just so we, have a bearing here, what you’re talking about because you’re still talking about, apartments but smaller apartments. So it’s still a. Not like a single-family, it’s a larger property than some folks who do.

So for example, I’m working on a 20 unit right now for my own portfolio. I have 240 units with two partners that are joint ventures in central Pennsylvania that we took down over four purchases. A 37 unit, a 31. 73 unit and a 96 unit. So three of us took down that size deal because, they were large enough that it needed, a decent down payment from partners.

But not large enough that I needed to bring in, 80 investors at a hundred thousand dollars apiece. So when I talk small joint ventures, I’m really talking between 30 and a hundred units, a piece. Across just a couple of investors and if it’s greater than a hundred units, we’re usually syndicating it.

Building Independence with Real Estate with Anna Kelley

Okay. Okay. Now you mentioned we touched really briefly on the eviction moratorium and know, one of the things we want to touch on here is how you navigated that. And that may or may not continue, we’ll see it in the future. Certainly, I think. At least some regulatory changes to stick after the pandemic.

So how did you navigate that? And, keep the money coming in and not having. A bunch of cashflow problems, because that was a big concern for a lot of investors, especially right at the beginning of the pandemic. 

Yes. , it was not easy. It was really challenging in many different regards, right?

So we have this health crisis and people are worried about, are people going to die? Are we going to die? Are our property managers and our tenants, Canada. How do we keep people safe? That was the first thing is how do we keep people safe? How do we continue to run our operation? When people have maintenance issues or their AC units gone out, we need to send somebody in, but we can’t find contractors that want to go in and the tenants might not want you in, so you have the operational issues of just, how do I keep everything running day-to-day and people continuing to come in.

Then you have the big issue of who’s going to be able to pay. And who’s not what jobs are closing. It was very stair-stepped, one type of business gets shut down then. And we had a property in Texas, Georgia, and Pennsylvania. And then I had vacation rentals in Maryland and, those were getting shut down and then more jobs closing and more people were being laid off.

And, initially, before the unemployment money started flowing, it was. Wow. How bad is this going to be? And how do we pay the mortgage? Not lose the property to the bank and lose all of our investor’s money. But at the same time, we can’t come down heavy-handed on tenants who are fearful for their lives, who are fearful, that they might lose their job.

You don’t know if they can feed their kids. We, we can’t be heavy-handed. We have to take a step back and say worst case. What would this look like? And how do we try to get ahead of it a little instead of being totally reactionary? So my partners and I just sat down and we said, okay, let’s be proactive and reach out to our tenants immediately and say, listen, we know this is bad.

We know that you’re scared. None of us know what’s going to happen. We are committed to providing you with safe, clean housing through this pandemic. We don’t want you to fear that you’re losing your home, but we need you to work with us because we still have to continue to pay our contractors, our employees, our mortgage payments.

So if you’re able, we really need you to pay your rent and try to pay it on time. What we did is for some of my properties where the partners agreed to it, we could do it. We offered immediately written discounts. So we said, if you prepay your rent, we will give you a 10% discount. And that way we’re incentivizing them to pay, to make it a priority.

And we’re giving them a little bit of a discount so that they can go out and pay for two or three more meals for their family that week or that month. And by being compassionate with our tenants and getting ahead of it and saying, We care about you, but this is a priority. How can we work together to keep you in your home and make that one less thing you have to worry about?

Our response was really incredible. And we were able to maintain now through lots of up and down ultimately we were able to maintain about 97 and a half percent collected through the pandemic across all of our products. 

That’s awesome. It’s important for listeners to, note, occupied units versus actual collections.

You care about the money coming in the door, not necessarily the number of people in the units. The collections are really, I think the most important metric now with any of these aspects of dealing with the eviction moratorium, trying to keep the money coming in. The next question is okay, so what could happen?

What is the potential downside for any of these ways of dealing with things? And one of the things you hear about is saying cash for keys. If folks can’t pay, we’re going to offer them some cash to give us the keys and get out. But then the next question is, okay, what if they tell everybody on the property you can get.

And then we have a mass Exodus of people who don’t leave with this 10% rent discount. Did you think about any potential, like secondary effects? What could happen with that? Are people going to expect a 10% discount permanently? When do we go back to normal? What do you think? 

Yeah, so we didn’t do it across every property.

And our very large properties. We didn’t give them quite that much. I think it might’ve been 5%. And so we said, if you pre-pay, it’s 5%, if you prepay again, it’s 5% on our smaller properties where we had a little more control. We went after, cause you might have a four-unit and eight-unit, a 10 unit, like not every one of 200 units is going to know what you’re doing on the other buildings.

But what we try to do is look at what tenants we’re going to be impacted. So for example, in some of my personally owned properties, I have a few tenants that worked at a hotel. Or worked in the restaurant industry. I knew they were shuttered. So they’re the ones that really, single moms, they were going to be hurt.

They weren’t they were literally not gonna be able to pay for food for their kids. So what we did is we went in and we helped them. We said, we’ll give you 10%, for the next couple of months, until you get your unemployment benefits or you’ll get back to work. So we did that. We also told them we would help them to file for unemployment benefits.

So we sent emails to and letters to our tenants and we sent. If you work for a small business or you have a small business, like a landscaper, we had some landscape tenants. We had tendencies who owned a hair salon, and we said, here’s how you apply for EIDM. Here’s how you apply for PPP. Here’s how you apply for unemployment.

Here are some numbers you can call for rent assistance that people will, that will help pay your rent. So we try to be proactive in helping them to find who they needed to go to. In order to get income coming back in and in order to potentially help them with rent. But if they prioritize rent, we also gave them five to 10% discounts and I never worried about, oh, if they tell all these others we’ll have to give a discount.

Because when we underwrite deals, we underwrite usually depending on the location, at least. Five to 7% vacancy plus 2% collection losses or loss to lease. So we’re close to nine or 10% all-in assuming forever that we’re going to lose 10%. So I’d rather give a 10% discount and keep people that are paying than to have them move.

Have them get behind, have to turn the unit when maintenance people weren’t running, wanting to come and help turn units. And then end up with it vacant, not being able to fill it. Because we didn’t know where people going to be moving during the pandemic. Are they even going to want to look at our properties?

And because we value add investors, we already had down units that we were turning and then the middle of our renovation plan. So those units are down. We don’t want more units down when we’re already going to struggle just to continue with our CapEx program because of the shortage of contractors who didn’t want to come to work or who couldn’t work because the government shut them down.

It’s like where do I cut my losses? Do I take a little bit of loss here, but have some certainty with what’s going to come in, or do I just go no way, am I giving discounts and then dealing with the fallout of vacant units that are going to then make my property unstabilized and risk the bank, putting it in a lockbox.

So we didn’t want that no matter what happened, we wanted to make sure we can make our mortgage payment that we never would have to ask for forbearance because. As much as the media said, no problem. Don’t pay your landlord. They can take a forbearance. Forbearance is like the next step to bankruptcy.

You can only ask for forbearance if you are essentially insolvent and can’t make your mortgage payment. So we never wanted to get to that place. And we worked very carefully with our banks to say the worst case, if this hits the fan and gets worse. And really nobody goes back to. What happens, at what point do we let you know, we might have a problem, I’ll let you know.

But we worked with our banks very closely to find out what are the rules? And they were changing constantly. And when will you put us under a lockbox, if you have to, and how do we navigate that? So we just said, listen, we need to be compassionate. Do everything we can to engender Goodwill from our tenants, make them want to stay.

Make them incentivize, but know that we care and that we do need them to keep paying. And it was very challenging. I had retired from my day job about a year and a half before. And thought, okay, I’ll just do some deals and. Work, but also, enjoy the fruit of financial freedom.

And during the pandemic, it was like 50, 60 hour weeks or a month, talking to the investors who wanted to know if they’re still getting their check every month, and handling contractors whose people quit. And, the tenants were just one piece of it, but there were all these other layers of.

Construction and rehab and filling units and the property management companies and their legal team saying, no, we don’t know if you can do what your owner wants you to do. And it was just, there was a lot of challenges but it was, it really turned out to be in hindsight. A blessing to see that you can be compassionate with your tenants, also care about the numbers and get even better as an operator than what we ever thought we, we could do, before it happened, we thought were pretty good operators.

We, my partners, and I had all been in real estate for years. But it forces you to get really lean and continue to run, a well-oiled machine, but more li more leanly. So I learned a lot through the process. 

Awesome. So I think a big question about the bigger picture and looking forward, as you said Warren buffet says to be greedy when others are fearful and fearful when others are greedy and at least where we stand today, it seems to me that.

Folks are really fearful about the future of real estate right now. It’s a different situation than it was a year and a half, almost two years ago when the pandemic started. Today prices continue to rise. At least in the single-family market stuff goes off the market immediately.

Over asking price, demand for multi-family investments still seems strong. I still have a lot of interest from investors on my end. It seems to me, you have a lot of wisdom when it comes to stepping back and seeing the market sentiment, and in either direction, you should go where the opportunity is.

So what do you think about the current market sentiment and where the opportunity is and say the future of multifamily and real estate investing in general next? I don’t know, three, five years. 

Yeah. It’s really hard to know. It really is. And I know one thing that I learned going through the great recession, so I worked at AIG, when everything crashed in, oh no, I lost about two-thirds of my 401k because I was heavily invested in financial stocks.

It's not what you know that gets you. It's the things that you don't know.

And I thought I knew a lot I had worked with investors and worked at AIG, worked with mortgages and banking and investments for years, and thought, okay, I know enough about the economy. And I was so blindsided by what I didn’t know. Mortgage-backed securities and how they’re, people make bets against them and, credit default swaps, insurance on the value of other companies stock.

Like I had no idea how any of that worked and that it could cause a financial system collapse and a real estate collapse. So I learned from that. It’s not what you know, that gets you. It’s the things that you don’t know. And I really, after 2009 became a student of the economy. So I watched not only real estate cycles, but economic cycles, I watched things like the yield curve indicator, Decatur, and when the recession is coming.

And I’ve seen enough downturns. And then we lived through the pandemic to say, we really have to look at where are their risks that we didn’t think a lot about before. And for me in this pandemic, what became really at the forefront of my mind that I really didn’t think a lot about a lot, even from oh nine until 2020 was the legislative risk.

I just said, okay, I won’t invest in New York City or Boston or Baltimore or Philadelphia. Why? Because there are rent controls. So I don’t want my rents to ever be tapped out as a multi-family investor because I want to be able to force the appreciation. And if my expenses go up and I can’t raise rents, then I can’t control the value add or my income.

So I knew like that kind of legislative risk, I won’t invest in liberal cities that have rent controls. The pandemic showed us that contract law is out the door when there is a big problem, right? So when an eviction moratorium can happen, when businesses can be shut down and don’t have a right to reopen, we realize that general contractor.

Doesn’t necessarily protect us. And so there’s always this new chance of legislative risks that we don’t see. So I’m much more heightened about looking into the future of legislative risk and what I mean by that, yes. The eviction moratorium was legislation that was forced through that said you can’t evict.

If I have people not paying for months and can’t evict them, I could really be hurting and lose everything I have. All of us could write as investors who provide housing. So I’m even more strong on my criteria that I will only invest right now in areas where the local taxing authorities are conservative because I don’t want my taxes to go up significantly.

To pay for all this stuff, my real estate taxes, and I don’t want rent controls. And so I’m investing only in really conservative states and conservative areas. And I think legislative risks and risks of tax increases are really the two big things we need to think about. I think about that and I think about interest rate risk.

So we’re looking at, okay, what’s happening with taxes. What’s happening with interest rates and interest rates are historically low. They’re the lowest I’ve ever seen in my lifetime. I’m 46 years old and I’ve looked back about 50 years at interest rates and why they change and how often they change and how badly they change.

And historically, three, 4% interest rates and lower do not happen and they will not continue. So when I look at deals tailor, a lot of deals are being done right now at high prices, multifamily, especially. So you talked about singles. When you get into a large multifamily institutional-grade class, a class B large unit.

Institutions are looking forward and saying, we think inflation is coming and we don’t want cash. So they’re buying these properties at these super-low cap rates because they’re happy to park cash and make three or 4% just to weather coming inflation and to not have cash. So what happens is syndicators like.

We’re trying to provide our investors with a cash on cash return of, seven or 8% preferred return. And we’re competing against these larger institutions that say, I don’t care. What kind of cash return? Because I’m not buying for cash at this place in the cycle and where we are in the economy, we’re worried about taxes going up everywhere and inflation.

We’re focused on asset preservation, not the income and maybe some appreciation, but asset preservation is their main criteria. So when really smart investors like Warren Buffet, And really smart institutions who have managed a lot of money through various REITs and mutual funds, et cetera, even insurance companies, when they say multi-family is the place to go for preservation, they’re acting based upon their fear of the near term future of what’s going to happen in the US economy.

So I look at that and I say, okay, if I’m looking for cash flow as my primary financial. I’m probably not investing in the big multifamily deals. I’m probably looking at other asset classes that are providing better cash flow right now. Like high-end vacation rentals, right? If I’m looking for asset preservation, I don’t mind overpaying a little bit.

We’re going to keep our, our investor’s money, safe, our money safe, and we’re going to have the benefit of multifamily of having some cash and some upside while we do that. But I have to know I’m paying a premium. And where the real risks come in is when people say just like you mentioned earlier, Oh, that’s not going to happen.

Rates won’t go up very much. And cap rates are going to stay low and they underwrite their deals with generally the same cap rate on exit and generally the same interest rate upon refi or sell. And I think that’s where the real risk is right now is if people are overpaying just to get the deal done, they’re competing with these people looking for preservation.

The only way to get the deal done is by doing a bridge loan because Fannie and Freddie, won’t do it. Meet their numbers. Do you want me or DSCR? So investors are using bridge debt, hoping that, in two or three years rates won’t be much different and they’re relying on that interest-only period, to create the seven or 8% pref for their investors.

They’re hoping they can refi with Fannie or Freddie and get a few more years IO at about the same interest rate. And if that all works out great, then they can provide a return. I think that’s really where the big risk is right now. Relying on interest-only payments to make the numbers pencil and thinking that interest rates are going to be the same in the future.

I think that they won’t be, I think we have a real interest rate risk of rates going up quite a bit in the next couple of years and legislative risk and increased taxes. 

Interesting. Interesting. I appreciate that. One of the things I wonder about here is you mentioned the risks that we don’t think about it as a huge topic.

We probably don’t have time to get into now, but the risks we don’t think about, we see., it seems to me like the economy, the federal government is all run off of the money printer right now. And that kind of gets to what you’re saying about taxes flying up. Cause that would be the only other way to finance the enormous amount of spending that the federal government does.

But what is, how does that affect, the potential future? I guess that could mean interest rates flying up in the future, but it’s hard to predict, that happen. 

Yeah. The fed is basically saying to expect seven rate hikes in the next two years. So when the fed comes out and says, oh, we’re not going to have much of a choice.

We’re trying to hold off till 20, 23. Now it might be 2022. When you start to head toward inflation they have to cool things off. They need people going out and spending a little less so that there’s not because what happens is when you. Tons and tons of demand for something, and you have limited supply, the prices are gonna go up, and so they’ve got pull back this demand and what’s happened and I’m not an economist, I’m just somebody who watches this. Cause I’ve been through two big cycles and I’ve studied. So I could be wrong. And I hope that I’m wrong. But what I see is the government has artificially propped up the American households by dumping checks into our checking.

Yeah. Every month now I’m getting money for my kid’s money that I don’t need, that I don’t want to pay taxes for. We’re getting people we’re getting $600 a week, extra in unemployment, not to work. So families, all of a sudden have all this extra money. They’re given the money and then they don’t have to pay their mortgage or pay their rent.

So they’re suddenly all this extra cash that’s then creating demand to buy all kinds of products that people weren’t buying before. So companies are able to raise their prices because there’s a big demand. But there are still getting Eid L money, right? Small business money. What happens when that money runs out?

The demand is going to fall a bit. So if demand starts to fall a little bit that helps, inflation. But the government’s going to have to raise rates in order to keep people from going out to borrow money, to keep spending on other things that they can’t afford. So rates will go up. I would bank pretty much everything I have that bank rates are gonna go up.

I just don’t know how much and how high and that’s really the question we don’t know. So when we’re doing deals that need to predict three to five years out, what can we refi, or where will prices be when we say. We have to, be, we have to look at the writing on the wall. Like the fed is saying they’re raising rates.

There’s inflation that the feds finally admitted admitting isn’t probably transitory. And so they have to cool it off. And the only way that the fed really has to react, the real tools in their tool belt are quantitative easing, putting in money into the system, or pulling it back and raising or lowering rates.

That’s their two main tools. And I think rates have to go up. So my biggest thing as an investor that makes me go, how do I navigate this and sleep well at night is I have all these properties and I use commercial loans like everybody else. The big deals, million-dollar loan plus.

That could be a 15 unit today, but if I can go, Fannie or Freddie, I can get a 10-year rate. I sleep pretty well at night for those properties that I have a 10-year term and that I’m holding long-term, but all my other deals, I have a five-year lock. So what happens to my payment? If rates go from, three, 3.3, five back to five where they were not even three years ago, Suddenly my payments up my DSCR that I still have to maintain, goes down and how am I going to cover that extra payment still create the same returns for my investors, still pay them.

And what is it going to do to my values and my rents? I don’t know. So you have to have some extra cash set aside in case the lender makes you pay in because your DSCR goes down because your payments go up when the rates change or you gotta be able to sell. I’m locking in and refiling as many deals as I possibly can for another five or seven years, depending on the lender.

But I think the interest rate is the real thing that could cause a lot of pain. Especially if you have bridged debt now and you’re hoping rates stay low. 

Interesting. Great. We’re going to remember that right now. We’re going to take a quick break for our spine. All right on. I’ve got three questions.

I ask every guest on the show, but you’ve been on the show before you already answered those questions. I’ve got three new ones for our returning guests. Are you ready to go? I’m ready. All right. Great. First one. What is your favorite book to read for personal reasons? 

For personal reasons? Every single day, I read the book.

It encourages me. It gives me wisdom. And it shows me that man makes a lot of failures, but God’s grace helps us, helps us to work it out and I can have hope for the future, no matter what. Great. 

Now we go from one person to another reason. A great reason to read any book is business. What is your favorite business book?

The most recent book that I read that I went, wow. I should have read this 10 years ago was by Dan Sullivan and it’s who not how. So I highly recommend that you read it or your listeners go grab a copy. If you think that I’ve got to figure out how to do this before I do it and how to do it before I partner or hire your better question might be who do I need to do this better than I can faster than I can.

That’ll accelerate my growth because I’m not waiting until I can figure out how to do it. 

Nice that one’s on my list. Haven’t gotten to it, but I have heard that recommendation before that we’ll certainly get around to it hopefully before the end of the year. So the third question for our returning guests is where are you traveling after COVID is over where you.

Oh, I love to travel. And so we had a couple of European-type trips planned. When COVID hit, we were going to go to Scotland and Ireland, and that kind of got quashed. So we really want to go to Scotland and Ireland, as soon as we can all travel. And in the meantime, we’ve taken a couple of cross-country trips even during the Panda.

We’ve gone to Disney, we’ve gone to universal. We’ve gone to beach towns all up and down the east coast and spent some time in Florida and in Texas. And we’re still traveling. We’re just traveling to more natural places near water where we can be away from the crowds, but also have the benefits of, beauty.

I’m a beach girl. So I want to be on the beach and eat seafood and overlook the water and that’s pretty relaxing. 

Great. Ana, thank you for coming back to the show. Give us giving us an update on what you’ve been up to and what is in the future here for real estate investors in the economy.

More broadly, if folks want to reach out, if they want to get in touch with you, if they want to learn more about your business or any of that great stuff, where can they track? 

Thank you so much. So my website is greaterpurposecapital.com. That’s where we invest in large apartment communities for meaningful impact in the lives of our residents in our communities, as well as seek strong returns for our investors.

And you can follow me on Facebook, LinkedIn, or Instagram at Ana REI, mom. 

All right. Great. Thank you for joining us once again to everybody out there. Thank you for tuning in. If you’re enjoying the show, please leave us a rating and review on apple podcasts. I appreciate that so much because that helps other people learn about the show and that helps us rank higher in the apple podcast ecosystem.

And I’m always honest with you guys that gives me a little warm and fuzzy feeling because I get to see that year engaging with the content and you’re escaping the wall street casino. With us, no matter what podcast app you use, don’t forget to subscribe and we’ll catch you here every Monday, Tuesday, and Thursday.

And if you know anyone who could use a little bit more passive wealth in their lives, please share the show with them and bring them into the tribe. I hope you have a great rest of your day. We’ll talk to you about the next one. Bye-bye.

Anna's Real Estate Book - Resilience: Turning Your Setback Into a Comeback

About our Guest

Anna Kelley

 Anna Kelley is the owner of ReiMom, LLC, a real estate education company. She has invested in real estate for 20 years, is a 4X Amazon #1 author, speaker, coach.

Anna personally owns and manages a multi-million-dollar rental property portfolio and has ownership in over 2000 units as both an active and passive investor. She is a General Partner, Sponsor & Asset Manager for large multi-million-dollar multifamily real estate acquisitions, and through Zenith Capital Group, actively seek out the best opportunities for her partners and investors.

Anna currently has $52M in assets under management.

She is also a frequent guest on Real Estate Investing podcasts, speaks at REI groups around the country, is an Amazon #1 Best Selling Author, and runs a local meetup group for Women in Real Estate.

Episode Show Notes

Anna Kelley is the owner of ReiMom, LLC, a real estate education company. She has invested in real estate for 20 years, is a 4X Amazon #1 author, speaker, coach.  Anna personally owns and manages a multi-million-dollar rental property portfolio and has ownership in over 2000 units as both an active and passive investor.  She is a General Partner, Sponsor & Asset Manager for large multi-million-dollar multifamily real estate acquisitions, and through Zenith Capital Group, actively seeks out the best opportunities for her partners and investors.  Anna currently has $52M in assets under management.  She is also a frequent guest on Real Estate Investing podcasts, speaks at REI groups around the country, is an Amazon #1 Best Selling Author, and runs a local meetup group for Women in Real Estate.

 

[00:01 – 04:21] Opening Segment

  • Get to know Anna Kelley
  • Anna tells us about herself and her real estate investing experience

 

[04:22 – 14:00] Pandemic REI

  • Why be greedy when everyone else is fearful and fearful when everyone else is greedy
  • Vacation rentals in the pandemic
  • How Anna is making every one of her deals happen
  • Look at everything as an opportunity!
  • Anna’s small and large deals
  • Navigating eviction moratoriums during the pandemic
  • It was not easy. It was really challenging.
    • How do we keep people safe?

 

[14:01 – 31:36]  Building Independence with Real Estate

  • The 10% Rent Discount
  • Forbearance is like the next step to bankruptcy.
  • Being compassionate with your tenants can be a blessing
  • The current market sentiment and the future of multifamily and real estate
    • The legislative risk
  • Why Anna only invests in conservative states and areas
  • The focus is on asset preservation
  • Why investors are using bridge debt
  • The risks we don’t think about

 

[31:37 – 39:19] Closing Segment

  • Quick break for our sponsors
  • What is your favorite book to read for personal reasons?
    • The Bible
  • What is your favorite book to read for business purposes?
  • Anna’s Travel Bucket List
    • Scotland and Ireland
  • Connect with my guest. See the links below.

 

Tweetable Quotes:

“When you have an opportunity, and you know, the market, well, you you act, despite all the other things going on.” – Anna Kelley

“[It’s] not what you know, that gets you.  It’s the things that you don’t know.” – Anna Kelley

————

Connect with Anna Kelley through Facebook, Instagram, LinkedIn, and her websites https://reimom.com/ and https://greaterpurposecapital.com/about/.

 

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.

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About the Host

Taylor on stage

Hi, I’m Taylor. To date I’ve acquired or partnered on over $250 Million in Commercial Real Estate Investments. I help busy professionals invest in multifamily and self storage real estate through my company NT Capital

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Real Listener Reviews

Extremely useful podcast
Extremely useful podcast
@thehappyrexan
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Short, impactful with excellent guests. If you have a full time W-2 job or business and are looking for ways to get involved in real estate on the side, this is for you.
Simple & effective information!
Simple & effective information!
@jjff0987
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This podcast is worth listening to for investors at all levels. The information is simplified for the high level investors but detailed enough to educate seasoned investors about nuances of the business. I recommend!
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Awesome Podcast!!!
@Clarisse Gomez
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The host of Passive Wealth Strategies for Busy Professionals podcast highlights all aspects of real estate investing and more in this can’t miss podcast! The host and expert guests offer insightful advice and information that is helpful to anyone that listens!
Great podcast!
Great podcast!
@Owchy
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Love all the information and insights from Taylor and his guest. Fun and entertaining. Highly recommend.
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