Sri Latha is a data scientist and researcher who transitioned into multifamily investing. Combining her skills with serious, out-of-the-box strategies, she’s succeeded in one of the most expensive, daunting markets in the country, San Francisco. She also runs a multifamily coaching program.
After a health scare in 2010, Sri and her husband shifted their focus to real estate, starting with a 12-unit in Dallas before transitioning to California. After many successful multifamily deals, Sri is now looking to reposition hotels into multifamily communities.
What You’ll Learn In Today’s Episode:
- Sri was able to jump right into apartment investing by putting a plan in place. She was motivated by the health concerns of her husband, who in 2010 was diagnosed with rheumatoid arthritis and was told he would be unable to walk within 5 years. Instead of buckling to this pressure, Sri moved forward and purchased a 12 unit in Dallas. This set them down a path of financial freedom, and after her husband’s recovery, her mindset shifted towards thinking big, using leverage, and creating multiple streams of income.
- Starting out, Sri bought into the myth that you “can’t make money in California real estate.” After her first successful exit of a 12 unit in Dallas, Sri shifted her focus to the East Bay and realized that was not true. Higher barriers to entry, a chronic lack of supply, and global demand all pointed to a very lucrative market. After figuring out their plan of action, buying older buildings, performing heavy renovations, adding additional units, and buying-out below market rent residents, Sri was able to quickly scale in a highly competitive market.
- Sri believes that in order to get exponential growth early on in your investment career, you need to exit buildings and roll the proceeds into larger properties. The BRRRR method works well but doesn’t get you the exponential growth that a full-exit would. You get scale by not holding onto properties longer than necessary early on.
Ideas Worth Sharing:
“The only time you lose in real estate is when you have to sell.” – Sri Latha
“If you’re doing real estate, you might as well go all in.” – Sri Latha
Resources In Today’s Episode:
Books Mentioned In Today’s Podcast
- Atomic Habits by James Clear
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