Episode 8:
Dixie Decker has extensive experience with complex real estate transactions but specializes in the niche called “student housing,” turning regular single family homes into multiple paychecks producing double and sometimes triple other rentals! Her expertise is reflected by going from bankrupt to millionaire in less than 3 years, without using her own money or credit, because she simply didn’t have any when she started her life over. Now having over 200 student tenants now paying rent, she is still using her knowledge of wholesaling, lease options, owner financing, and rehabbing.
She has bought, financed, and over-seen real estate transactions in excess of 26 million dollar and raised over 5 million dollars in private lending.
Her success can be attributed in large part to team building talents, systems and procedures for automating the business from the buying, selling, and renting, down to the marketing and back end bookkeeping made simple with cutting edge business systems. Through hands-on experience of real estate investing in hundreds of deals, her customer service and quick response time is top notch.
What you’ll learn about in this episode:
- Ingredients required for success when identifying a potential student housing marketplace
- How she works out the financing through leases with options to buy
- Why Dixie avoids rehabbing houses whenever possible, preferring instead to buy pretty homes
- Benefits of buying outright, once you have the ball rolling
- How far away from the college successful student housing investments can go
- Why charging by the head is the best advice ever for student rentals
- Minimizing your risks by requiring students to have cosigners
- The importance of having a system and a mentor to guide you through it
- Home warranties and why they are essential for hassle free student housing ownership
- Tips and tactics for reducing the workload of showing houses to multiple students
- The benefit of making the students responsible for finding their own roommates to fill the rooms
- How creating a waiting list is the secret to lasting success no matter what happens in the local student rental market
- Why 12-month leases are the only options to choose for student housing rentals
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