What are your goals for 2019? Real estate wise, I’m in three development proj- ects in Los Angeles. So, one goal is to finish them
Favorite market to invest in? And why? Well, that really depends on what I’m investing for: capital or cashflow, money-in-hand or mailbox money? My favorite is really going to be determined on what outcome I’m looking for in that market. What’s your greatest investment success story? My first flip because I got into action and I did it. It wasn’t my biggest financial gain. It wasn’t the most com- plicated deal. It was my greatest success because it helped me prove to myself I could do it. I think I spent more than a year thinking about, analyzing and looking for my first deal. After the first one, I did three more the next year. you perspective. A lot of times people are trying to fig- ure out HOW to do something, when in reality you might just need to find the right WHO, because the right WHO already knows HOW to do it. When you put yourself in the same space as successful entrepreneurs and real estate investors you have a greater chance to become just like them. Words you try to live by? I live by my favorite quote. “You can have everything in life you want, if you will just help enough other people get what they want.” – Zig Zigler. Honestly, that’s what WREN is all about, too! When you put yourself in the same space as successful entrepreneurs and real estate investors, you have a greater chance to become just like them. Best piece of advice for new investors? Grow your network! Get into a group with like-minded people. When you do, it will give
status quo. Many people don’t like to leave their present comfort zones, and therefore never set goals or try any- thing new and never make meaningful progress. Action forces us to risk being wrong, make mistakes, to learn, expand and grow. 2) Having a network of abundant resources. Networking and having resources and ideas in seconds is VERY valu- able. This brings me to why I started the Women’s Real Es- tate Network (WREN). At one point I wondered where all the women investors were. Out of my need, I founded the Wom- en’s Real Estate Network. We are a networking organization for women investors, by women investors. We’ve grown like crazy in the last couple years. We have five chapters in LA, OC, Seattle, Phoenix and San Diego. When I don't know what to do, my projects are going off the rails, getting perspective and seeing other people do- ing great stuff is really valuable. My network has helped me be the investor I am today. They are a sounding board, resourceful and always remind me I don’t have to do this all alone. Many people don't like to leave their present comfort zones, and therefore never set goals or try anything new and never make meaningful progress.
up. I will be taking on new projects cautiously considering the market right now. With regards to WREN, I hope to reach more women with the message of empowerment and the possibility of financial and time freedom through real estate. Oh, and personally, I’m getting married! What is the one strategy you’re focused on in 2019 that you feel will bring you the greatest success? We are in a changing market. Because of that, I will defi- nitely focus on staying on top of economic information and predictors. In a changing market I think you need to stay flexible and be a creative problem solver. I’m going to get creative moving forward. Look at situations in mul- tiple ways, come up with multiple answers, I think that will serve me well this year. In a changing market I think you need to stay flexible and be a creative problem solver. I'm going to get creative moving forward...I think that will serve me well this year.
Deborah Razo Founder, The Women's Real Estate Network
8 YEARS INVESTING IN REAL ESTATE
How did you get started investing in real estate? I’ve been an entrepreneur for over 20 years and
10 years ago I had an “opportunity to start over.” I was in a car accident, I was hospitalized, and spent the next 18 months healing. My lesson — life is short. I started ask- ing myself “Am I living life the way I really want to?” The answer was, “No.” I wanted a different life. I wanted to have more time to spend with my family, travel the world, take people with me and I realized that would require time and money freedoms. I literally started googling “passive income.” Real estate kept coming up. I decided to go for it. And the truth was I knew I needed to change and I didn’t know how. My brother took care of me during my rehabilitation and suggested I go to a Tony Robbins event once. Well, I did. After that I started my journey as a real estate investor. I began by flipping houses in LA and then taking that capital to invest in buy and holds for cash flow and long-term wealth. Now, I flip and I’m in my first development deal and own single and multifamily in various areas. Oh, and I’m a trainer at Tony Robbins in my spare time.
How do you manage work/life balance? With a huge sense of humor! (Just ask my kids)
What are the three factors that you look at in your market to determine whether a deal is a good deal?
1) Where is the property? Yes, it’s about location.
When I don't knowwhat to do, my projects are going off the rails, getting perspective and seeing other people doing great stuff is really valuable.
2) Run the numbers multiple ways. I like to have multiple exits. Can a flip I’m working on become a hold property? Can we utilize it as a rental? Are there any other value-adds to the property that can be utilized? 3) Do I have the right team? Have partners and a team of people who are smarter than me and can execute the work needed. Having the right team as a sounding board for my projects: hard money lenders, partners, realtors, contractors. And having the right team to exe- cute the work is a must.
What are the top two characteristics you exhibit that have made you a successful investor?
Website: WRENinspires.com Email: drazo@WRENinspires.com Facebook: /wreninspires CONNECT WITH DEBORAH
1) Wanting my outcome more than I want to stay comfort- able. I believe that achieving any goal means leaving the familiar and venturing into a new area. Doing something you’ve never done before is a planned conflict with your
30 | think realty magazine :: march / april 2019
thinkrealty . com | 31
Made with FlippingBook Online newsletter