A Strong, Supportive Mother
Kimberly takes it back to beginning for the Casandra Properties Podcast audience. While she had a grandmother and an uncle who worked in real estate, she didn’t exactly expect to work in real estate herself. As mentioned earlier, she pursued a career in physical fitness and physical therapy. She does, however, say that she always had a strong and supportive mother who believed in her. Additionally, Kim also says her mother was a strong disciplinarian of Japanese descent, who valued commitment and also wound up being one of her first investors. According to Kimberly Marie, her mother saw Kimberly’s promise and had faith in her. In order for Kimberly not to lose a deal, her mother helped her out. Kimberly has needed little help since then.
Buying a Primary Residence First
James Prendamano notes how Kimberly embodies the entrepreneurial spirit. James adds that real estate is super-scary for some people and that she just dove right in. Kimberly acknowledges that she’s always had an entrepreneurial mind. Her first venture was the fitness business; she was a personal trainer and a diet planner for people while she went to physical therapy school. She admits she did not know a lot about real estate, but she knew Indianapolis intimately, which was where she bought her primary residence at 24 years old. From walking her dog every day and being social by nature, she got to know her neighborhood and nearby areas very well. She learned who was building what, who was moving out, and who was moving in. She did her first fix and flip in her own neighborhood. Kimberly Marie says she became an entrepreneur by becoming a consumer first. She saw that people were fixing and flipping homes at a furious pace and soon learned there was a lot of money to be made with the investment strategy.
Pivoting the Business
Kimberly was soon able to flip other homes in around her neighborhood wherein there were no geographic boundaries like railroad tracks or creeks. Indianapolis is not glamourous, says Kimberly, but it’s a great place to invest in. What I did was sell people was the dream, says Kimberly Marie. James Prendamano notes Kimberly’s tremendous insight and vision. Eventually, Kimberly had raised enough capital to purchase ‘buy and hold’ rentals, as well as to use the BRRRR strategy. From there, she began buying multifamily homes and apartment complexes. She purchased a 23-unit complex two years ago, and then a 27-unit complex a year later, which she plans to completely renovate.
A Great Broker by her Side
Kimberly credits her success in part to having a great relationship with her broker, Cory Gardner, who helps her find off-market deals. I treat him well. I pay him well, and he’s part of the team. James Prendamano adds to the sentiment – that is what people never cease to understand – you get what you pay for and having a great broker is so important. James Prendamano states, “Do what you do best and pay for the rest. That simple notion is lost on so many people.”
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