Dec 18, 2018
Monick Halm’s Haitian parents taught her to get a good job as either a doctor, lawyer, professor or engineer. She chose law and it wasn’t until she went to purchase her own home in Los Angeles that she started learning about real estate investing. She ended up house-hacking with a friend and realized the advantages to creating passive income. Then she met a mentor who introduced her to apartment syndication, acquiring over 1,000 units in 1 year! However, she realized there weren’t many women investors, so she made it her mission to educate women about real estate investing. She started an online community, a podcast and authored a book targeted to women investors. Monick joined us to share why everyone benefits women need to be rich. She also shares about the criteria of a good market, the market cycle, choosing the right team and leveraging other people’s money.
Key Market Insights:
- Real estate investor, syndicator and developer
- Host of Real Estate Investor Goddesses
- Founder of Real Estate Investor Goddesses online community
- Former lawyer who realized that she needed a home
- Bought a duplex, and became an accidental landlord
- Mentored by Robert Helms, and was introduced to leveraging OPM (Other People’s Money)
- Attended a syndication seminar, and end up acquiring over a thousand units within a year
- Key Differences between Women and Men Investors: Men are confident, treat money as a game; Women are more cautious, take measured risks
- Women tend to be more successful investors and are more concerned with what their money will do and how it will help others
- Passion project - educate one million women investors
- Successfully hosted her first 3-day conference, Wealth Through Real Estate, geared towards new women investors
- 7 Criteria of a Good Market: Landlord and business-friendly; Low to medium housing cost; High job and population growth; Diversified local economies; Right submarket; Right market cycle; Familiarity
- The Market Cycle: Rising, Booming, Downturning, and Stabilized
- Investor Tip: People first approach before the number. Build the right team.
- 3 C’s in Choosing the Right Team: Character (high integrity), Commitment (long-term relationship), Capacity (skills)
- Established a brand, and started educating women about real estate
Bull’s Eye Round:
Winning Women Investors: Be authentic. Focus on how it will benefit others.
Tracking Market Changes: Set up Google alert on real estate investing.
Daily Habit: The Miracle Morning - SAVERS (Silence, Affirmations, Visualization, Exercise, Reading, and Scribing)
Resources:
The Real Estate Investor Goddess Handbook
Book Recommendation:
Smarter Faster Better by Charles Duhigg
Digital Resources:
Tweet This:
"Live where you want. Invest where it makes sense."
"Empowering women with money means empowering everyone."
Places to Grab a Bite:
Connect with Monick:
Website: https://www.realestateinvestorgoddesses.com/
Facebook: https://www.facebook.com/RealEstateInvestorGoddesses/
Twitter: @monickpaulhalm