The guest I have on today isn’t just a real estate investor. She likes to call herself a real estate matchmaker. Whitney Nicely is making deals in Tennessee that are out of this world. She’s got confidence, enthusiasm, and enough Southern charm to make her real estate investment strategy really shine. She even uses pink ‘I Buy Houses’ signs to attract buyers! But that’s not the only thing she’s got going on. On today’s episode of Real Estate Profit Masters, Whitney Nicely breaks down her leasing option investment strategy and shares her tricks for getting to the top of this business in just three years.
Whitney calls herself a matchmaker because she looks at her leasing options like a marriage. Her real estate investment strategy succeeds because she really builds relationships with the people she works with. She knows that a leasing contract means working together for 3, 5, even 10 years, and the kinder and more honest you are with your clients the more likely they are to continue working with you. These relationships also pay off when you want to renegotiate. Whitney’s trick for making the most for her money is renegotiating with the sellers. She shares the technique she uses with sellers to get her in, out, and done, which gives her more time to really focus on her properties and tenants.
A big thing Whitney and I discuss in today’s episode is control in our business. Right now, Whitney is a one-woman show and she’s really killing it. But being able to let go or walk away from pet projects or menial tasks is a huge part of being an entrepreneur. Part of your real estate investment strategy should be taking yourself out of the equation. You want to free up your time to focus on the things that really matter, and it’s even better if you can work remotely! Whitney has properties throughout Tennessee and Georgia, and she’s looking into Florida now, so tune in and hear how – in the words of Ron LeGrand – you can do less and make more!
MINUTE MARKERS
3:31 - Meet Whitney Nicely!
4:56 - How did Whitney get involved with real estate?
7:22 - Who’s Whitney’s biggest influence?
9:25 - What was her breaking point?
11:30 - Whitney works locally AND virtually
12:30 - Whitney breaks down her lease option investment strategy
14:19 - Does your investment strategy involve crack houses?
15:45 - What is a “good enough deal” for Whitney?
16:40 - Why you need to start renegotiating with your sellers
20:17 - Whitney drops a hard learned lesson
23:52 - How does Whitney screen her tenants?
24:40 - How many applications does she process?
25:38 - Whitney breaks down her sandwich lease options
30:39 - How can you get a stronger conversion on your lease options?
32:12 - Who makes the payments in this strategy?
33:05 - Whitney is a one-woman show
34:17 - Do you want ownership or control of this business?
42:18 - The biggest challenge Whitney’s faced
43:48 - Never take things personally in this business
45:20 - What would Whitney change?
46:47 - Whitney drops another big lesson
48:41 - What’s the most important part of Whitney’s real estate deals?
50:28 - Whitney’s tips for dealing with leasing risks
53:27 - Whitney’s favorite motivational quote
55:18 - Whitney’s favorite book
57:20 - Whitney’s Facebook addiction pays off with leads
58:50 - Use dirty pictures and shock marketing on Facebook to boost your brand
1:00:12 - Does Whitney get 8 hours of sleep?
1:00:34 - Whitney’s morning routine
1:02:40 - Who did Whitney hire as a mentor?
1:03:50 - Advice for letting go of control in this business
1:10:54 - What is Whitney most grateful for?
1:13:10 - Why does she do what does?
1:18:50 - Get in touch with Whitney at whitneynicely.com
QUOTES
I’m more like a real estate matchmaker than anything else, which I think is what a broker is supposed to be. - Whitney
I live in the comfortable in the uncomfortable situation. - Whitney
Links and Resources:
The Less I Do, The More I Make by Ron LeGrand
E-Myth Revisited by Michael Gerber
Miracle in the Mountains by Harnett Thomas Kane
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