105: Finding Financial Independence as a Lady Landlord with Becky Nova

Financial independence is the goal most real estate investors are eager to achieve. Getting creative and being willing to compromise are two of the ways you can work toward that goal.

On this episode of Zen and the Art of Real Estate Investing, Becky Nova, real estate investor and founder of Lady Landlords, sits down with Jonathan to share how she became a first-time investor in her 30s. Becky owns and manages properties in New York City and the Dominican Republic and helps women achieve financial independence through real estate investing with courses, coaching, and a large Facebook group.

Jonathan and Becky begin their conversation with her introduction to real estate investing, which happened when she and her husband bought a two-family home as their first property. She and her husband had a lot to learn, but after learning the ropes of having tenants, they purchased their second property a year later--and the rest is history. Becky explains when and why she created her Facebook group, Lady Landlords, her struggle with overcoming a scarcity mindset, building good relationships with tenants, and why she chooses to self-manage her properties. You’ll also hear what makes property investments abroad different, how she uses her property in the Dominican Republic, and why you must be willing to compromise with your partner when you become a real estate investor.

In just five years, Becky Nova created a business that offers her financial freedom and the ability to design a life that looks like what she dreamed.

In this episode, you will hear:

How a check from a tenant at the closing table opened Becky’s eyes to the idea of real estate investing
Figuring out how to become a landlord when she and her husband knew little about owning a home
Dealing with unpredictable situations and why landlording is customer service
The creation of Lady Landlords following her husband’s job loss in March 2020
The struggle of overcoming the scarcity mindset she and her husband have both had since childhood
The importance of keeping communication lines open to build good relationships with your tenants
Becky’s advice for hiring property managers as a new investor
Why self-management of investment properties isn’t passive
Her investments outside of the country and what makes property investments abroad different
How Becky rents out her home in the Dominican Republic as a short-term rental when she isn’t using it
The freedom that real estate investing has provided her with
Why you need to be willing to compromise with your partner in this business
The value of understanding your end goal and taking steps to pursue it

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