BiggerPockets Real Estate Podcast

602: Why The “Right Way” to Buy Rentals is Wrong

Apr 28, 2022
Guest
Marjorie Patton
Marjorie Patton, head of sales at a financial tech firm and a savvy real estate investor, shares her journey navigating the complex world of property investments. She argues that diversifying your investments can yield better returns, challenging the conventional ‘play it safe’ approach. Marjorie's personal anecdotes reveal the value of learning through mistakes and how a ‘scared’ mindset can build confidence. Plus, she discusses the power of community among women investors in Denver and emphasizes the importance of maintaining a full-time job while pursuing real estate.
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ANECDOTE

eBay Ballot Sales

  • Marjorie sold sample ballots on eBay for profit, demonstrating entrepreneurial spirit.
  • This early experience fostered her courage to explore and try new things.
ANECDOTE

First Deal Lessons

  • Marjorie and her partner's first deal, a single-family rental, had unforeseen costs.
  • This taught them the importance of having financial reserves.
ADVICE

W-2 vs. Real Estate

  • Don't rush to quit your W-2 job for real estate full-time.
  • Diversify income and leverage your job's benefits.
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