How to Build a Real Estate Portfolio From Scratch with Leka Devatha
Jonathan’s guest on the latest episode of Zen and the Art of Real Estate Investing is Leka Devatha. Based in Seattle, Leka is a seasoned real estate developer, broker, and founder of Rehabit Homes, which specializes in residential redevelopment. Over the past decade, Leka has orchestrated hundreds of transactions, developing more than $50 million in real estate.
Leka's story begins with how she quit her full-time job in the corporate world to pursue real estate. In a field that made it impossible to start investing in her downtime, she boldly decided to learn as much as she could and leave corporate behind with her first property investment. Hear some of Leka's more interesting experiences, including evicting squatters from a million-dollar property. She shares what she loves about house flipping, why she’s still investing in Seattle's expensive real estate market, and her thoughts on accessory dwelling units (ADUs) in shaping the Seattle market. Leka also explains why assembling a reliable team is critical, offers advice for new investors on where to focus their energies, and highlights the importance of community and networking through meetup groups.
Some highlights from Jonathan and Leka’s conversation include:
Hiring the right property manager can help overcome any problems you may encounter with a property. Leka experienced this when she dealt with squatters in one of her properties.
If you want to grow and learn in real estate investing, partner with someone who knows what they’re doing. If you don’t have money, find another way to add value to their business.
Brand-new investors should work on educating themselves on all things real estate before hopping into the market. Read books. Listen to podcasts. Understand the processes before you buy your first property, and attend meetups where you can form relationships and community with other investors.
For more of Jonathan and Leka Devatha’s lively conversation, tune in to the latest episode of the podcast.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/104.