104: How to Build a Real Estate Portfolio From Scratch with Leka Devatha

While most new investors maintain their full-time jobs, sometimes, you have to take the more radical step of leaving the corporate world behind.

On this episode of Zen and the Art of Real Estate Investing, Jonathan’s guest is Leka Devatha, a Seattle-based real estate developer and broker. Leka’s company, Rehabit Homes, focuses on residential redevelopment. Over the past decade, she’s spearheaded hundreds of transactions, developing more than $50 million in real estate. Jonathan recently met Leka in Orlando, where she co-hosted the Bigger Pockets Conference, and they participated in a panel together.

You’ll hear Leka’s recent experience with squatters in a million-dollar property and how she evicted them, why she left her corporate job to kick off her investing career, and when she realized she would never return to the corporate world. Leka also explains the difficulties of becoming a house flipper, why Seattle is still a profitable investing market, and how ADUs are impacting it. Finally, she outlines the importance of hiring a trustworthy crew, where new investors should focus their energies, and the community and relationships created by participating in meetup groups.

Jonathan and Leka’s conversation is lively and fun, and it's one you won’t want to miss if you’re excited about flipping properties.

In this episode, you will hear:

Leka Devatha’s recent experience with squatters in her million-dollar property and the negative feedback she received on social media
Her first exposure to real estate and what drew her to the idea of real estate investing
Why Leka had to leave her corporate job to begin her real estate career
Her realization that she’d never have to return to the corporate world
Leka’s biggest piece of advice for people who want to be coached or mentored in this business
The hardest part of being a house flipper
What makes Seattle a challenging yet profitable market
Why Leka stopped doing flips for a while, and where she placed her focus
The differences between flipping and multifamily properties
How ADUs are impacting the Seattle market and the versatility they offer
Her multifamily syndication deals and why they aren't her favorite properties
The importance of hiring a crew you can trust
Where new investors should focus their energy right now
The two meetups Leka hosts, who they’re for, and the community they offer the attendees

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