102: Finding Your Tribe By Documenting Your Investing Journey with Amelia McGee

Amelia McGee is only 32, but she’s already enjoying the freedom that real estate investing offers. It all started when she convinced her parents to partner with her for a flip and ignited a passion for real estate.

On this episode of Zen and the Art of Real Estate Investing, Jonathan interviews Amelia McGee, the co-founder of Women Investing in Real Estate (WIIRE), with her partner, Grace Gudenkauf. Amelia is an Iowa-based investor focusing on mid-term rentals with an impressive portfolio of at least 36 units.

Amelia and Jonathan explore her initial interest in flipping, which she credits HGTV with. After that first flip, she discovered it wasn’t where she wanted to focus her investing dollars. She moved on to a triplex, and things snowballed from there. They delve into the impact of social media on creating valuable relationships in real estate, including her friendship with Grace. Social media also played a significant role in the founding of WIIRE, which began as a virtual meetup for female investors. You’ll also hear how the Bigger Pockets forums helped Amelia learn more about real estate investing, why she’s interested in short-term and mid-term rentals these days, what makes small towns a great place to invest, and Amelia and Grace’s upcoming book with Bigger Pockets.

Amelia McGee decided she didn’t want to spend her life working for someone else and saw real estate investing as a way to achieve the freedom she desired. Today, she teaches others how to do the same. This conversation is a must-listen if you want to escape the W-2 life as Amelia did.

In this episode, you will hear:

Amelia McGee’s first property flip in partnership with her parents, why it made her realize flipping wasn’t for her, and how she used the profits to buy a triplex
How the resources from Bigger Pockets helped her begin building a real estate investing career
Amelia’s introduction to her partner, Grace Gudenkauf, via Instagram
Her advice for starting an Instagram profile that can lead to sales
The first virtual meetup she and Grace hosted together, and how it evolved into the business it is today
Why not having the “golden handcuffs” of a well-paying job helped propel Amelia forward in real estate
Where she sourced money to add doors to her portfolio
The details behind the triplex purchase and why she didn’t want any of the previous owner’s tenants
The leeway local banks can give you for financing versus a larger bank
Her partnership with her parents in buying another property when her money ran out
Amelia’s real estate education and what it taught her about finding great property deals
The birth of WIIRE, its evolution over time, and who’s in the community
WIIRE retreats and what they offer to the women who attend
Competition in real estate and why it doesn’t have to be competitive
The number-one characteristic of real estate investors
Amelia’s investment in short-term and mid-term rental properties and why she’s moving toward short-term rentals
Amelia and Grace’s upcoming Bigger Pockets book
Real estate doesn’t have to be an all-or-nothing thing
The freedom she experiences now versus when she did her first flip

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