We are so lucky today, we have Lisa Jeffery joining us. She is the host of Real Estate Talk with Lisa, which is on WBGR Network every Thursday from 2:30 to 3:30 ET, and she also streams that on her Facebook channel, so you can subscribe and get notified whenever she’s coming on. She is so knowledgeable about real estate and very committed to helping people get involved in real estate and become investors so that they can build some wealth.
Chris: Lisa, thanks so much for joining us today. How long have you been doing your video show, your Facebook Live?
Lisa: We started in 2017 is when I started, I really was not, I was not looking for that because for me, I’m thinking – I’m really not the info-mercial kind of girl. I’d much rather talk about other people, I don’t know who is gonna wanna listen to me talk about real estate for an hour. I don’t even wanna listen to me talk about real estate for an hour. There’s not enough real estate stuff to talk about for an hour.
But you know I’m a woman of faith, and so I prayed about it, I said “Okay God, this is what you want. I’m gonna say yes to it and we’ll just figure it out. So I went upstairs, and we talked in the studio, so I signed a little thing and said, Okay, I’m gonna do it then I thought, okay, what’s next? So, what I envisioned, though, was a show that really focused on the audience, on what the audience was looking for on the front end of the show. So our theme is Opening the Door with Keys of Independence. And so we look to educate, empower and motivate our audience to action in whatever area of real estate that they’re interested in.
So that’s what we do. And so, that’s our focus. So I interview lenders, we talk about grant programs, ways to finance, we talk about rehab financing. If you’re having trouble finding something that’s already done, how you can use that type of financing to get something that may not be gorgeous as one of our lenders says: ‘Not the shiny penny’ but something that you can make your own. We talk about things like, okay, let’s say you don’t want to be in a bidding war – which is kind of hard to avoid in certain areas – how you can look at new construction as a way to avoid that. So I’m looking to present for first-time homebuyers, we give insights about how the process works. We talk about contractors and home inspection, home warranties, some of the fears that buyers may have that will keep them from moving forward as well as concerns that sellers have in terms of when they’re gonna list their property. So, just as I continue to go forward, I saw that there was just a plethora of topics within the real estate industry: how you can be a building owner, commercial real estate.
And we talk a lot about community on our show, we have a segment called Rescue Resources and what we do there is different – like food pantries in our community. There’s one young lady, she’s doing shared housing for people that have had economic downturns but they need housing, so they have a room in the house, utilities included, while they’re getting themselves together. She’s partnering with other resources in the community to help them while they’re there: resume writing, job placement, things like that. So we highlight what’s going on in our community. Now this year, we’re broadening that to cover more economic development for areas and of course we have Amazon coming into the DC Metro area, so everybody wants to know what they’re doing.
I have a lot of the real estate investors, Sherman Ragland’s been on our show. He’s nationally known, on Bloomberg, Inc 500, so a lot of the networks he’s been on, and then a lot of the other local real estate heroes have great influence. Charles Blair’s been on our show. Turnkey DMV has been on our show. So these are people that can give direct insight into the real estate investing piece for people. Because I don’t have to be the authority on everything. I have realtors that come on my show. We just did our last show, the show before this one, the last one. We celebrated women in real estate because it’s Women’s History Month. So I complimented so many of the women that are in our area.
We interviewed the 2019 Woman’s Council of Realtors President for the Northern Virginia Metro area. She’s been on a show before, she’s great fair housing instructor, but just had her talk about what she felt like success was. So we have authors, we have realtors that have written books. We celebrate that, we have them come on and talk about the book. We’re local, we do talk about national trends, but we really just wanna celebrate what’s going on in our industry, put a face to realtors and real estate. Because sometimes there’s a lot of misconceptions about our industry, as you know, and so being able to kinda humanize our industry and provide good valuable information. You know, that’s what we wanna do.
Chris: Nice, and do you get… Do you let your listeners give you suggestions?
Lisa: Yeah, yeah, several topics have come out from that and we always encourage them. My publicist, Reba Burruss-Barnes, – we’ve been friends for over 20 years – she’s often co-host with me.
We always let them know if they have a product, if they have a service, if they have a topic, give us a call and let us know what your message is. We’ll be happy to work with you to bring that out to the audience because as long as you can value-add to our audience, we’re open to having you come on the show. We wanna be as inclusive as possible.
I always tell people when they come on ‘cause sometimes they’re a little nervous. It’s not investigative reporting. We don’t want to see your tax returns, we don’t want your invoice records, we just… We want you to come into a nice, warm environment and give you the opportunity to present who you are and what you have to an audience that is already ready to hear about you and we just want you to feel comfortable and talk about what it is that makes you special, what it is you want the audience to know. So that’s the kind of environment that we cultivate, so we know our business can be competitive, but that’s not what we cultivate in our culture for the show.
Chris: Yeah nice. Have you always been in real estate? What’s your history?
Lisa: Girl, no. If you would’ve told me 20 years ago… you know, I’m gonna tell you this story: I recently showed a rental property to one of my clients, a higher level rental, a nice big house, but you know about 12 years ago, I was the house cleaner for that house, ’cause I had a cleaning business.
God is just so interesting because when they sent me the listing I was like: wait a minute, I think this… Yeah, and I looked at the tax record I thought, yes, that was my client.
I was actually able to describe because it was one of those types of listings where they have a designated agent that can open it for you, even as a realtor, you can’t get access.
And so, they were curious about the listing, we had driven by and seen the outside and they were curious about the interior, and I was able to describe the interior: You have a step down and then, yes, and you got this, you got that, we… We knew they made upgrade from the pictures but just tell them about the house.
It was just so amazing that a house that I’m polishing wood furniture and vacuuming and mopping and cleaning the bathrooms, the whole thing that I am now in a position where I can go in and show that house to a perspective tenant. But I started out, I’ve done a lot of things in life, but I was working for a modular home builder and I left there to really be a transaction coordinator for the current team lead that I have now, and I did that for two years, but I did a lot of customer support, talking to the client and explaining to them the process.
So he was like: Lisa, you need a license. So they sent me to class, they paid for my test and we’re still together, we’re still a team, The Senior Team at Fairfax Realty Elite in Greenbelt, Maryland. But that’s how I got my… That’s how I got my start. And I’ve been there ever since I eventually evolved and graduated from just being behind the scenes to actually being out in the public with the clients.
Chris: You followed the path.
Lisa: Yes, I… Yeah, I was chosen.
Chris: You know, it’s ironic is that I do more house cleaning as a real estate agent, than I ever did before.
Lisa: Oh my gosh, I know, right.
Chris: I get to the house and I’m thinking: are you serious?
Lisa: Okay, we need to move this, no, we have people coming. No, no, this has to go.
Chris: You wear many hats as a real estate agent, right? I’m an interior decorator, I’m a cleaner, I’m a publicist.
Lisa: Whatever it takes. I tell people, I say I’m the real estate counselor ’cause I’m up at night, going: No, It’s gonna be all right. No, we just, no, we just need the piece of paper in. No, I talked, I talked to the other agent. We’re gonna work it out. Okay, yes, get a good night, yes. Oh, okay, talk to you tomorrow.
Chris: Yeah, it’s true. Am I doing the right thing? Is this gonna be alright? Oh my God, you’re like 80% counselor 20% transaction coordinator.
Lisa: Girl, it’s the truth, it’s the truth, But it’s really, as you know, many people in our industry get into the industry for different reasons and some it’s the art of the deal, others, it’s the cash flow. But for me, it’s really the people that’s really the cherry on top for me is to be able to sit at the settlement table and I’ve helped a young mother and young professional male or female, a family. One client was a gentleman, he was single but he had three or four boys, and he would take them on the showings with us and showed them what he was doing.
So to be able to make someone else’s dream come true, that is just exciting and the fact that you’re able to serve them in that capacity and be diligent about what you do, so they can trust you because it’s a very big purchase. It’s an emotional purchase and so to be in that position, I think it’s a really, it’s an honor, and that’s kind of how I look at it.
Chris: It’s more, it seems like talking to you, it’s more of a calling for you than a profession.
Lisa: Yeah, yeah, I think so… And it’s something that I would have never, never have envisioned myself doing, but doing it just feels like, Yes, this is great, I love it.
Chris: You see how all the roads have led you there.
Lisa: That’s right, exactly, exactly, yes ma’am.
Chris: When I was watching your show the other day, I feel like you’re trying to help people. One of your focuses is trying to help people to build wealth through real estate investing. Can you tell me a little bit about how you first, when you first meet with people, do people come to you and say, Yes, I wanna be a real estate investor. Or do you they come to for some other reason, you say, “You know what…?
Lisa: Yeah, people do sometimes come to me with that and I talk to them about what their goals are in terms of what they know about real estate investing, because you know, everybody’s got HGTV now, so…
Chris: …they know everything.
Lisa: …about real estate investing. And so what I do and I do this a lot, especially with the show and just as an individual, I don’t have to be the answer to your question but I can connect you with someone that has the expertise to help you at a better level than I can so depending on what they want, if I have a seasoned investor, he just wants me to look at some properties for him or I take him to see them and he’s telling me what his goals are what he’s looking for and I set-up some searches for him. Then we do that or do some analysis of properties that he’s considering.
That’s one avenue, but I have a lot of people that are new to the industry and so I encourage them to go to their local real estate investing groups to hear people ’cause you get a lot of information just by being in the room, you begin to make connections and start to learn about the business versus jumping right in and getting started ’cause real estate investing can be a great way to kind of pad your retirement because it’s passive income.
So beyond owning your own home, owning that additional piece of property can give you some security. Should something happen with your job, should maybe there be health issues, you do have another source of income coming into your family.
Another thing that people may not think about is that same investment property can do double duty if you or perhaps your young child, another family member or friend that you’d like to help that property can be a collateral for a business effort as well while still providing that passive income so it’s generating income on its own, but it’s also allowing you to perhaps expand or initiate a business idea that can also bring money and allow you to purchase more property. So that investment can be a real cornerstone to get you solidly on the path of wealth building.
Chris: Do you get a lot of pushback from people who are like… Oh, I can’t, I don’t know anything, I can’t fix toilets at two in the morning, that’s just not my style.
Lisa: Oh yeah, yeah. And what I tell them is: There are all different types of property management options that can take you out of the equation. And we did a segment last year on how you could be a building owner. And what we explain is: You may not want someone knocking on your door, you may not want to be the one to collect the rent or handle a situation if the tenant doesn’t pay the rent in your four-unit building. You can have a property management company where everything goes to them and all of the service calls go to them. You can have a home warranty where you’ve given the tenants the number to call, and they call and set up the service call, and they know what the cost is for the call so you don’t have to deal with that directly. So there are always ways to handle the uncomfortable aspects for you when you’re looking at real estate investment, but that shouldn’t hinder you from wanting to move forward if that’s where your interest is.
Chris: And what about turnkey properties? We talked about that one earlier.
Lisa: Turnkey and just for the audience that may not be aware of what a Turnkey property is, that’s when you buy an investment property that’s already been rehabbed, already has a tenant in it and it’s generating income at the time when you purchase it and that’s really an ideal purchase for a number of people that want to be in investing, but don’t really know a lot yet, wouldn’t know how to price the project, wouldn’t know if the person is giving them the price on the project is telling them a good price or a bad price, so they’re really new to the process, but they wanna get into investing and they have some money set aside for that.
You can purchase a property where all the rehab work has been done. So that takes out that concern of: When am I gonna have to replace this, when I’m gonna have to replace that, because you know how you’re getting it.
You also have a tenant already in place, so you’re not getting a property raw, having to fix it then trying to find a tenant and having that lapse of time between the time you finished the work and the time you get the tenant where you’re still paying maybe a mortgage on the property. When you get this property, you may have a mortgage if you finance it, but you also have income coming in right away. So that makes it Turnkey, having a whole package there.
And as you’re learning how to manage your tenant, whichever avenue of property management that you want to take, you can learn, but you still can make some money.
Chris: So, do you recommend that people take over the management after they buy the property?
Lisa: I think it really depends on that person’s individual style and what their goals are, because some persons may purchase a turnkey property, in another state. I have a client now that I’m working with, that lives in New York but is looking at the Maryland area, the Baltimore area in terms of doing an investment. Now he’s not local, so for him, a turnkey property is perfect because he’s not in a position, he’s got operations that he’s running in New York, so he doesn’t have the time to come out and manage a crew or manage a person that’s managing a crew, so for him to pick up something that’s already complete, already packaged then he can move forward. That’s fine for him. Now someone that’s local, they may feel like, I know a few little handy-man things and I can go by and fix it up, and I really want that one-on-one with the person that’s renting the property and I want to manage that process myself because I want to learn what to do and what not to do. Then for them, the option may be to self-manage and then in between those two sets, there’s varying degree of property management.
Chris: Yeah, you do some and they do some…
Lisa: Exactly, exactly, yeah.
Chris: When you are looking for the money to start your real estate investing, if one of the places you wanna look is your 401K, you can do a turnkey property, but you can’t be involved in the management at all.
Lisa: Right, right, that’s how I understand it and also what you learn when you go to some of the real estate investment groups is how to have private money.
There may be a group of investors that each of them individually might not have what it takes to do a full investment in a property. They don’t want anything to do with the rehab work but they would like to get a return on their knowledge. So, collectively though, this group would have the money that you need to do that, and so you would set up your agreements in place and how the money would be distributed, when you would pay them, how many years they would get revenue so that everybody’s in agreement. So that’s one way to find funds for your project and you say, “Well how do I demonstrate to them that it’s a worthwhile project. Again, that goes back to a availing yourself of people that are already in real estate investing in your market that know the market, that know the ropes and get some training. Not everybody that’s trying to train you is trying to rip you off.
So take some time, really, because we do so many things and we said, “Well I don’t wanna pay anybody now, I’ll watch TV and also, and I’m not against people that come in from outside of your local market with the different free two-day training, one day training, but before – I would tell anyone – before you invest in someone that’s coming in from outside of your local market, take a look at some of the jewels that you already have right in your own backyard.
People that are in your market, day in and day out, because laws vary and whether or not you can approach someone that is in a pre-foreclosure state, in one state, you may be able to address them, in another state, there’s a different process and you need to know what that is. Someone coming from the outside may not know those things, they certainly don’t know your neighborhoods, the way someone that’s working in your neighborhoods do. So you just want to make sure that if you’re going to make an investment into some training that you’re getting it from a source that knows your market and also can be there with you. You can’t call Kansas and say, “Hey my contractor didn’t show up and there’s a leak and this happened and that happened.”
But if you’ve got someone local, that’s kinda walking you through to the process, you can get right-on information. Okay, I’ve got another contractor, call this guy tell him I sent you. Here’s what you do for that. Here’s the governmental agency you call about that so you know what you need to do.
Chris: What do you think is the major stumbling block for people who are trying to get into real estate investing.
Lisa: I think maybe fear and lack of knowledge about what’s possible.
I think those are two of the big issues with us. Because when you don’t know, that unknown is kind of fearful and I think with the fear is what we imagine the obstacle is because sometimes because we don’t know that lack of knowledge is there, we create this big mental structure that we now have to cross to get there, and it’s really not that bad. You know NAR, the National Association of Realtors, did a survey a couple of years ago where they found that most of buyers, did not get into the market, potential buyers, didn’t get into the market, because of two misconceptions, one was that they had to have over this astronomical credit score, like over 700 credit score, they needed at least 20% to put down. Neither of these things are true, they may have been true – well, the 700 has never been true – but in terms of the downpayment maybe at some point somewhere that was true, but it’s just not true today. But because they had that misconception they wouldn’t move forward. And so I think the same thing happens in real estate investing, we really pump up the obstacles in our environment and feel like we just can’t do it, we can’t move and we don’t know where to go for information so that keeps us, keeps us in place, I think.
Chris: Yeah, I know a lot of people who – even people in my own team, people, real estate agents, who have a situation they seem to me to have all the tools they need, but they just are in analysis paralysis, right? They’re just like: No, I gotta do this. I gotta look at this, like just do it, jump in
Lisa: And I can relate to that because… And a lot of it has to do too with what we already have in our mind when we go into our different fields, just like a lot of us don’t go – unless we’ve come from a family that was already in real estate – don’t necessarily pick real estate as our first course and if it isn’t taught us in our home, about the power of real estate and the power of ownership, and how to get access into those areas, we really don’t know. And so, we don’t really learn it in school and so whatever preconceived notions that we have about it, we still carry them with us and even when we have the tools in front of us, we still feel like: well, no, I need something else, I don’t have, I don’t think I have it.
And so I think there’s a shift, a mind shift, that has to take place. I said this on the show a couple of weeks ago is that you actually become a homeowner, before you become a homeowner. You have to visualize yourself being in a home, what that’s gonna look like, what that’s gonna feel like. That spurs you to start saving, that spurs you to start looking at: what would I like to have? And as you take that journey, you get closer and closer to becoming a homeowner because that vision dictates your actions. So I think it’s the same thing with real estate investing when you start to see yourself – you know I could own something, I could have a nice sort of place and I could be an investor in my community by providing housing for someone else, and that could help my family. When you’re start to see that that’s possible then you start looking around and say, “Well how can I make that happen? I know those other people do it. I think I could do it.”
So it starts there. I think, starting to see yourself as someone that could really do that and the positive impact that you can have then that will lead you toward the information that you need to fully cross over and take action. I think that mindset is a big, big piece.
Chris: Yeah, I agree a 100%. What kind of what I’ve been trying to do in my business is when people come in to me for the first time talking about: “Do we wanna buy a house?” is that I start trying to get them to think about the idea of instead of just buying a single-family home – especially if they’re handy or if they have any sort of skill set that could make them good investors- to say: Instead of buying a single family. What if you bought a multi-family what if you got yourself right out of the gate involved in real estate investing? And I feel like a lot of people are open to it but just as many are like, “Oh no, no, no, there’s no way I could do that. And I don’t know. How do you broach the topic how do you invite people into the dream of real estate investing?
Lisa: Well, one of the things that I do, ’cause we did a segment on it, we’re gonna do it again this year, is talking about how you can be a building owner for residential it’s four units or less. And so we talk to them about how you can – even though you qualify for a single family home, or a townhome – it’s not a big leap for the lender to qualify you for a two- to four-unit property and that you can live in a one – you’re already in an apartment, so don’t feel like you’re confined – you can live in one and rent out the other ones. And depending on what if you’re getting owner-occupancy financing, you have a certain period of time where you need to be in there, but then you can look at shifting from that, re-financing it and you can move out and now you can rent the other one. Now you’ve got a fully-functioning 4-unit building because the lender’s gonna qualify you based on what you’re gonna be getting from the other rents and the portion that you’re going to pay. And so that’s how you get in there. And so, it’s not just: “oh, I don’t make enough.” You actually do make enough.
And in our area in terms of real estate investing, there’s even groups that are focused on multi-unit investing that’s their niche, and that’s what they teach is like, Okay, why buy a single family or a townhouse that you’re gonna buy and hold?
We could put that same effort into getting a multi-unit. Big multi-unit properties as well as small ones. I’ve met a young man – I know he is under the age of 30, he is probably under the age of 28. He is not an extrovert, he is an introvert, a beautiful young man. I met him at ThinkRealty last year and we’ve crossed paths many times since then, ’cause I’ve been to the meet-up where he goes, and he didn’t really necessarily see himself as doing that initially, but he was interested in real estate investing and he took in the message that, Okay, maybe I can buy a multi-unit. And now he’s got a couple of purchases under his belt, and he’s good to go.
And so now he’s developed that confidence. But a lot of what people also have to realize it’s more than just looking at a property and saying: “Yeah, I want that property.” You have to do all of your homework up front, because the purchase has to make sense at the time of purchase. Not: okay, it’s gonna make sense to me later after I do all this work and then I’m gonna sell it at this price and then it’s gonna make sense to me. The numbers have to make sense at the time when you purchase it.
And I can’t emphasize it enough, when you sit in meetings where people go down line by line and show you these are the things that you need to look at, you need to make sure that your numbers are correct ’cause you don’t wanna buy – people say: Well I could pick up this house for $20,000, or $30,000 or $40,000. depending on the market, where you’re at.
Okay, but what can you do with it after that? How are you going to get the money back out of that? And I think sometimes people don’t know how that works and that’s why you do you have to go out and interact with other people, but you don’t have to be super sales person, you don’t have to change your personality, you don’t have to be like a 3-ring circus guy at the big top with loud personality to make it in the business, you can be very quiet and very unassuming and still acquire wealth. It’s not stuck with any personality type, it has to do with doing the process, taking the right steps, making the right decisions, understanding an opportunity how to identify it when you see it and going from there. That’s what I’ve learned from the investors that I’ve come in contact with, and have gone on the show and sat in on their meetings. These are the things that I’ve learned from them in terms of investing.
Chris: So let’s bring it back to this particular podcast, Get Your FILL – Financial Independent and Long Life.
Lisa: Yeah, I love that, I’m telling you, I need all of that.
Chris: So as a person, and I’m speaking about myself, who’s over 50 who is not, yet financially independent using real estate as a method to get to a point where you have a passive income and you can stop working and have fun, but there’s that instinct or that maybe fear, I guess, that you’ve started too late, like “Oh I wish I would have done this when I was 20 years old.” And what kind of advice would you give to a person like me.
Lisa: Well, it’s the same advice I give to myself – I’m over 50 as well – and it is that, it is not too late, it is never too late to start. You just have to start. And even going into 2019 over the past 11 years, I’ve had highs and I’ve had low but I was recently at one of our real estate boards gala events where they were presenting awards, and I watch the people come across the stage in the $3 million category, $5 million category, $10 million category, $30 million category. Some were teams, some were individuals. And just seeing, despite what we hear on the news about the real estate market, there is money to be made in all different avenues of real estate. And so, if these people at these awards what they did last year, that means all of those properties were available last year, and it’s up to you in terms of what you want to make in it. My guest for the Successful Women Real Estate Agents said that one of the things that really contributed to her growth and success in real estate is having systems in place. And I think sometimes as agents, new coming into the business, you’re looking for that just happy-go-lucky. I can just do what I want and nobody – I own my own day now, ’cause I’m in real estate. No, no, no, when you’re in the regular world, the 9 – 5 world, you have so much of your schedule that is externally imposed on you, but when you’re in the real estate industry you now have to upgrade at a higher level of freedom and that comes with the responsibility to structure your environment and your schedule to make you the most effective that you can be at what you’re doing. And that’s a key piece that sometimes we may miss but if we want to have that consistent income, those consistent results, we do have to have those systems in place what we’re gonna get up and do in the morning.
Who are we gonna call, how we’re gonna call, we’re gonna follow up with those great contacts we saw the networking event two nights age, we had a great connection, have we called them yet, did we follow up?
We have such a great connection, but then we don’t call them. So doing all things that you need to do, but it is not too late. And I would say for real estate is one of the few businesses that you can get into without a degree and really soar. The sky is the limit for you. I know single people, couples that are crushing it, doing great. So girl, your retirement is in the making, right now.
Chris: Amen. Is real estate investing part of your retirement plan?
Lisa: It is, it is, and I’m actually, I’ve got a couple of the groups that I have my eye on. I’m really, really thinking about a turnkey property for 2019, because as you know, I’m in Maryland, so Baltimore is booming in terms of real estate development and there’s a lot of properties there and so I’m really looking to maybe get a couple of properties there as I’m learning the business but also being here in DC, the cost of multi-unit properties in the DC area is costly now compared to what I’ve watched it probably quadruple in the past, maybe five or six years that may or may not change, but there are other places where multi-units maybe more within my reach, for now.
Yeah, it’s definitely part of my plan for this year. Even if I don’t acquire exactly what I want this year, the focus is there. And that’s the key thing, ’cause you gotta give yourself permission. You gotta say, “You know what, I want this and I’m not gonna hold back on getting it. I’m gonna go for it, so if I don’t get it, it’s not ’cause I wasn’t putting all that I could towards it, and if I don’t get it, I’m gonna look at it and say “Okay well what was I missing? What do I need to add to it? And just to be unrestrained in what you want. Don’t be ashamed to go for what you want.
Sometimes we are. Sometimes as women we are because when we’re aggressive, people tell us that is not a good look. When we are adamant about what we want and going for it, sometimes that’s a challenge for other people but you know what, you can’t worry about that, you’ve got… you gotta go for the thing that’s in your heart and make it happen.
Chris: Absolutely, absolutely. Lisa, what should I have asked you that I failed to ask you? Anything that you wanna share?
Lisa: I think that when you’re looking at real estate investing, it’s not just a win for you, but when you are doing real estate investing in a community, it’s a way for you to give into that community. Because if you’re getting a property that’s not providing housing now and you fix it up, or you buy it with someone else who has fixed it up and made it a turnkey property for you, you are investing in that community, you’re providing some stability, you’re providing some housing in that community, and so it is, it’s sort of a dual purpose. So, you’re winning for your family, through the investment in yourself but you’re also winning for the community. And so that’s an important piece to remember ’cause we want strong communities, so how can we do that? And so yes, we invest philanthropically in different things in our communities, but if we’re investing in housing, then were also investing in making a strong community and providing a very much needed niche for people.
Chris: And that’s a beautiful way to look at it as well, ’cause I don’t know that we all think about the other end that you are actually giving back. You have a nice place, and you keep it nice and take good care of your tenants, then you are providing a service. You’re not like the slumlord – you know that’s what maybe we think about as the owner, a slumlord.
Lisa: And it’s true, because I can tell you with my clients that have looked at multi-unit properties, I’ve gone into many of them where maybe the person couldn’t afford to move, but the property was in such a dilapidated state, and it could be that the landlord wasn’t able to do something, maybe they had a life event. But when you can go in and you can make that change and make that difference and you know you’re providing good housing that’s something that you can be proud of.
One thing I did wanna mention for the turnkey product if you’re looking in the Baltimore area, there is a group that I work with called, TurnKey DMV. We’ve had them on the show. You can go to our show page, Real Estate Talk with Lisa, to see all our archives shows and you’ll our new shows. There’s a lot of information there and there’s a piece on Turnkey DMV, but they’re doing tremendous work in the Baltimore area and what they’re doing. Because you have lead paint, so what they’re going and they replace the pipes, the HVAC system, they do all of the interior work and they get it Lead-Free certified, so you have an actual certificate and then they work with – there are about 14 different subsidized housing programs in Baltimore City – and so they work with them to install a subsidized tenant. They’re meeting the need of the people that are using those programs, and then when they pass it on to you, they try to leave a little bit of equity there. You got a little bit of equity, you’ve got passive income, you’ve got probably a minimum two-year lease for your tenant. You know that the work’s been done on the property, you don’t have that fear of: I gotta do repairs right away.
So it’s a nice product, and they’ve been good, they run good meetings, they interface with other real estate people because they’ll bring other people in to talk about different things, they had a lead guy come in and talk about why you needed to get a certified why you needed the testing, what happens when you don’t, what happens when you go to court? Those are things that you need to know as an investor because if you are buying a property that was pre-1978, and you don’t know these things, you could open yourself up to a lawsuit by someone, and not even know and end your investing career right when you start. And that’s one of the things with Turnkey. They say: we take the risk, so that you don’t have to because when you’re new, you don’t know. So you don’t make a $40,000 error in the beginning, we take some of that away from you. So, if it’s okay, I wanted to give a phone number out for them. You can reach Lola Thompson at 240-244-6422 and they have a website. It’s bit.ly/baltimoreturnkey and they’ll give you a lot of information about that.
I don’t mind sharing them because they do a great job. They work together as a team, they have a meet-up, and it’s just really good, they’ve been on our show. They’re not the only group so I would encourage your audience in whatever area that they’re in, if they’re interested in real estate investing get involved in the local scene get to know who the people are and not every meet-up group leader is going to resonate with you, but the person that resonates with your personality type that you think you could learn from, that’s who you follow.
You don’t have to invest a gazillion dollars, get the lower price training if you want and get your feet wet. As you see what you need and what you don’t need, then you can decide what type of investment that you want to have but I believe it’s a great way for all of us, especially as you mentioned earlier, all of us that may be on the other side of 50.
I’m not gonna say how far, how many miles on the other side of 50 I am, but to be able to pad our retirement and not necessarily be dependent on social security or a pension, but have something else to depend on, and then also have something to have in our family, to pass on.
Chris: Absolutely, that’s one of the beautiful things about real estate is it’s a legacy.
Lisa: Exactly, exactly.
Chris: How about you? I’m in the Boston area, and it’s extremely expensive to get started as an investor here but it sounded like you have maybe some lower-priced opportunities in the Baltimore area. How can people get in touch with you?
Lisa: Okay, you can reach me at, phone is probably the easiest, 301.542.5168. That’s my cell and of course when you give your cell, you gotta give your office number, so my office number is 301.794.9400, I’m with Fairfax Realty Elite in Greenbelt, and I am part of a team that serves DC, Virginia, and Maryland.
I think with our team, we probably have a little over 30-years-experience combined and our focus is on integrity and really giving that over-the-top customer service to get our people served and get you what you need and get you into what you need and advise you well. So you can reach out to me and if you’re interested in Baltimore, like I said, people from New York that are interested in Baltimore, it’s really up and coming. There are different funds, now available for investment in Baltimore. So, definitely, reach out to me, I’ll be happy to help you with whatever you’re looking for.
Chris: And you can help them set it up as a turnkey so that they could do it remotely.
Lisa: Oh yeah, definitely, definitely.
Chris: Lisa, thank you so much, it’s been wonderful, I’ve learned a lot speaking with you, it’s a been a pleasure.
Lisa: You know you make it really easy. You make it really, really easy and I really thank you for the opportunity to share on your podcast. I think it’s really important that we share things with each other and for the common good. It doesn’t always have to be competitive because we can all win. There’s plenty of real estate out there.
And the fact that the focus of your podcast is a much-needed focus and it’s an encouragement to people at a time when you turn on the news, it’s always the bad news and the worse the news is, the more times they repeat it. You can begin to feel like that’s the only news. So to have something out here that people can listen to that will encourage them to move forward. I really applaud your efforts. Thank you.
Chris: Thank you Lisa, you’re doing the same on your show. And the benefit of that is people get to see your smilin’ face on your show.
Lisa: I know girl, I gotta remember the cameras on me. Thank you, again, for having me,
Chris: Thank you. Lisa, thank you so much.
So now that you have been introduced to Lisa Jeffery don’t let her out of your life. If you’re lucky enough to live in the DC area, you can have Lisa Jeffery as your real estate agent. Either way, subscribe now to Real Estate Talk with Lisa Jeffery. You can do on YouTube, on her Facebook page, catch it live on WBGR. But the main thing is: she has a wealth of knowledge to share with you, and a lot of love and laughter.
So her last name J-E-F-F-E-R-Y – Real Estate Talk with Lisa Jeffery. I’m gonna give you a link to all her stuff on my website which as you know is GetYourFILLpodcast.com.
Thanks so much. See you next week.