ordinary opportunity that required Stephanie to color outside the lines and at times it disrupted her confidence as an investor. There were moments, days, and weeks of aggravation and frustration as everything ended up being a challenge. At the time Stephanie asked for my thoughts and support, we had known each other 10 years and she was addicted to the quick-turn wholesales, but she realized it was always going to be an endless tireless pursuit of hustling deals. When the profit is gone there isn’t anymore “mailbox money.” She confided in me that she was exhausted wholesaling and wished she had been acquiring cash-flowing assets during those 10 years. At 62 she had nothing
to sustain her future except her not-enough pension and the color copies of wholesale cashiers checks of the past. She was closing on three houses within 30 days that she just joint- venture renovated with respectful profit margins BUT... the hustle and grind wore her out. The challenges and struggle were real as the lot couldn’t be subdivided, but it was grandfathered in to allow two houses on the lot. There were multiple contractor issues, and it took longer than expected, but she had the deal under contract for $165,000. She put $100,000 into the rehab. The property appraised for $560,000 and today she receives $4,500 every month!
TODAY, STEPHANIE IS IN HOT PURSUIT OF HER NEXT HONEY HOLE THAT MAYBE SHEWILL FIND THROUGH THE TREES .
Tammy Phelps is known as “The Lady Boss of Real Estate.” She is an education- al speaker, coach, mentor, and founder of Capital City REIA, a Real Estate Investment Alliance in Maryland, D.C.,
and Virginia. The group’s focus is on the personal growth and business development of the real estate entrepreneur.
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