Our guest today is Julie Holly, a multifamily investor, writer, speaker, and podcaster. In this episode, we talk about the pros and cons of single-family and multifamily investing and how to leverage technology to invest anywhere in the country. If you are ready to take your real estate investing strategy to the next level, then don’t miss out on this episode! Learn more about Julie and her journey at reiclarity.com!
“One of the most important characteristics that I saw growing up was the power of reinvention”
03:19
Julie comes from a real estate investor background. Her parents were both residential investors and taught her a lot about the industry. She learned how to constantly reinvent herself and always charge forward.
She started single-family investing at the beginning of her career. However, she soon realized that multifamily investing was way more scalable. That was the biggest transition she made in her career.
Currently, Julie is reinventing her strategy again as the industry is changing due to the recent pandemic and recession.
“I personally like to be able to grow really big. I have a big personality, I like to do things in a big way.”
14:29
Julie lives in a small town in Idaho where there were not many multifamily investing opportunities. She chose multifamily investing because she wants to grow her business all over the country.
The pros and cons of single-family and multifamily investing:
- Single-family:
- Pros: It is easier to get into it, you own the property and don’t have to rely on partners, and they can create a great cashflow.
- Cons: It requires more work from you, it gets very hard to manage them after a certain number, and vacancies have a bigger financial impact.
- Multifamily:
- Pros: It is more scalable, you don’t have to be there physically, it is like buying into an actual business.
- Cons: It is hard to find the assets and vet them because there is a lot more competition.
“Use technology as your diving board, it can launch you into something really exciting. However, you have to be willing to fly and take that risk.”
24:54
As Julie lives in a small town, she uses technology to connect and network in the industry.
Her favorite way of networking is podcasting. She’s met a lot of people through her podcast: ”Ask Me How I Know”.
She is also very active on social media. During the pandemic, she started to be a part of social media challenges which helped her network with more people. She also participates in online meetups.
Julie’s advice is to get comfortable with being on video because that is the future of networking.
Julie’s 3 steps to turn your side hustle into a full-time business:
- Don’t forget that anyone can do it and you are no different. Your mindset matters so believe in yourself.
- Play to your strengths.
- Find people in your business who complement your strengths and can hold you accountable.
Mentioned in the show:
- John Acuff – Start
- Daniel H. Pink – When, The Scientific Secrets to Perfect Timing
- https://threekeysinvestments.com/
- Ask Me How I Know Podcast
- www.julieholly.com
- Her LinkedIn
- www.shineinsurance.com/reiclarity
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
Special thanks to Julie Holly for taking the time to share so many great insights with us
If you enjoyed this podcast, there’s a couple of things we need you to do right now:
- SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts
- While your there, please RATE & REVIEW the show
- SHARE with friends
- Finally, please, JOIN the REI Clarity Facebook Group
Then, please share the show with whoever you think it will inspire.
Until the next time, We truly appreciate you listening.
Need the REI Insurance Guy?
More great stories & information at:
