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JSRE 336 - Beka Shea - From Aircraft Carriers to Real Estate Investing

This Week’s Episode:

Beka Shea joins me on this episode.  Beka is an investor that I think highly of, as well as a personal friend. Beka went to school for mechanical engineering. After graduating, she became a US Naval Officer, serving on an aircraft carrier. After serving, she worked as an engineer in the energy arena, helping to build a power plant to support aircraft carriers stationed in Japan. In an effort to spend more time at home with her daughter, Beka got into real estate investing. She has built a team to support her business of flipping houses, wholesaling, and rentals.

In this conversation, you will hear Beka’s story.  You will learn why Beka got into real estate investing and how her first deal came together and became the foundation for her real estate career.  Since she comes from an engineering background, Beka is extremely strategic, and she explains why she does things certain ways.  Beka also describes moving markets and adjusting to real estate in different areas of the country.  Beka is very open and transparent in this conversation, and you will get great insights into her pricing, team-building, and much more.

You’ll Learn: 

  • [06:41] - Beka talks about her life before real estate investing.
  • [09:05] - Beka explains why she decided to get into real estate.
  • [09:43] - Beka shares that she was very nervous about her first meeting.
  • [10:39] - After attending a meeting, she asked her friend about a loan, but the friend instead wanted to become a partner.
  • [11:49] - Beka talks about evaluating properties.
  • [13:43] - She shares the results of her first investment.
  • [14:35] - Beka describes her partnership and explains why they split.
  • [15:49] - Beka lists the next few deals and explains why two similar deals ended with very different results.
  • [19:13] - Two years ago, Beka relocated to Pennsylvania. She talks about how some expenses vary from location to location.
  • [22:14] - Beka explains why she decided to go through a coaching class and shares advice on deciding whether or not you should pay for coaching.
  • [28:13] - Beka shares how coaching changed her mindset and business.
  • [33:56] - We talk about adjusting to the changing market.
  • [35:38] - Beka talks about her policy on showings and pricing.
  • [36:55] - Beka shares how things are currently going with her business.
  • [37:50] - Beka describes her team.
  • [43:26] - Beka shares her goals, including a unique goal for revenue.
  • [47:54] - Beka explains what she would do if she needed to start her business from scratch in a new area.
  • [50:11] - Beka says that you will never estimate your repairs correctly.
  • [52:02] - Beka addresses her goal setting strategies and what she wants for the future.
  • [53:01] - We discuss the need for coaching, even for people starting out.

Resources:

The 12-Week Year: Get More Done in 12 Weeks Than Others Do in 12 Months - Brian P. Moran and Michael Lennington

If you’re interested in learning more about our coaching, email me - [email protected].  We’d love to help you meet your goals. If investing and real estate is your dream, there is only one way you can make it a reality...JUST START!