Episode #16 Fix N Flips with Leka Devatha

 

Show Notes:

Episode #16 Fix N Flips with Leka Devatha                                                                                                                                                        In this episode of Real Estate Investing Made Simple, Leka Devatha talks about the ins and outs of the Fix N Flip strategy.

Leka moved to the US from India 13 years ago. She quit her corporate job at Nordstrom in 2014 and started Rehabit Homes, Inc. a company focused on residential redevelopment. After a string of successful flips, she obtained her broker’s license in 2017 and became one of the top-producing real estate agents in her office.  She has now flipped over 40 homes and has expanded her focus to include land development, additions, acquiring long term rentals both in state and out of state.

 

Contact Leka Devatha:

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Book recommendations:

The Book On Rental Property Investing by Brandon Turner

Mindset by Carol Dweck


Podcast Transcription: 

Introduction  0:02  

Welcome to The Real Estate Investing Made Simple podcast, the show empowering and educating people on how they can grow, manage and protect their wealth through real estate investing. Now, here’s your host, Bailey Kramer

 

Bailey Kramer  0:23  

Hello and welcome back to the real estate investing Made Simple podcast. The goal of this show is to break down complex real estate investment strategies that you can use to grow, manage and protect your wealth. I’m your host Bailey Kramer, and today we are joined by our very special guest Leka devata. To talk with us about the fix and flip strategy. Leka moved to the US from India 13 years ago. She quit her corporate job at Nordstroms in 2014 and started rehab at home, a company focused on residential redevelopment. After a string of successful flips, she obtained a broker’s license in 2017 and became one of the top producing real estate agents in our office. She has now flipped over 40 homes and has expanded her focus to include land development additions, acquiring long term rentals, both in state and out of state. Welcome to the show. Leka.

 

Leka Devatha  1:13  

Thank you for having me, Bailey.

 

Bailey Kramer  1:15  

Absolutely. It’s a pleasure to have you on. So why don’t you get started and tell the listeners a little bit about your background?

 

Leka Devatha  1:24  

Yeah, so, um, as Bailey mentioned, I moved to the country only in 2006.

 

When I was like, 24 years old, and I was in carpet, working at Nordstrom corporate, I was in fashion merchandising, and then in 2014, I decided that I just had to empower myself to do more than being in a corporate environment. And also I really had to go out and find a way to create long term generational wealth. And that kind of got me on the path to You know, trying to figure out a way to get there, identifying different strategies. And just so happened that real estate was one that I came across repeatedly. And so I started to begin and look at the different aspects of real estate investing, and decided that fix and flip was what I was going to do first. That would be my favorite entry into real estate. So that’s how I got started and bought my first deal in 2014. And I have like Bailey said, flipped over 40 homes since then.

 

Bailey Kramer  2:37  

That’s incredible. So can you kind of explain for the listeners who maybe aren’t familiar with the term fix and flip means just briefly go over what it is?

 

Leka Devatha  2:47  

Sure. So what fix and flip basically means is you buy a house that needs some work, it could be an extensive renovation, like a distressed property or it could be a cosmetic renovation, whatever mean with cosmetic is just like new paint new carpet, a new roof, and then you fix it up, which means you fix up the the distressed portions of the house. And then you put it back on the market to sell it for a profit because you’re taking care of fixing up the house. So then you make a profit. That’s your basic definition of fix and flip.

 

Bailey Kramer  3:27  

Awesome, awesome. Let’s walk through, you know, a fix and flip that you’ve might have done in the past. And we’ll dive into the different aspects of it.

 

Leka Devatha  3:35  

Sure. So let me give you a little bit of a case study. I bought this house. I’m going to talk about my most recent flip that I did. I bought this house in November 2019. It’s in a sub market off Seattle called shoreline Washington and bought this house for 570. It was 2700 square feet midsummer. Pre modern. What attracted me to the house was that the potential that I could bring to this just by cosmetically updating it and finishing the basement, the basement was fully unfinished, which meant that there’s a huge potential to add bedrooms, a laundry room, a nice little bonus area for people to chill in. And the landscape was super overgrown. So with just a few little fix ups, I could really, you know, elevate this house. So we started the construction in November. And of course, that was like the holiday timeframe. You know, over Christmas. We didn’t work much, but it took about three months for construction. spend about 125 K, and completely fix it up, give the house a fresh new look. You know, we did new windows, we did new paint carpet, changed up the kitchen, the bathrooms just really spruced it up. And then we put it on the market in March for 875. Within the first weekend, and this is just before COVID, just before everything shut down for COVID. Within the first weekend, we had 150 showings. Both the open houses were packed, we had like 75 people in each of the open houses. It’s kind of nuts. And we had an offer review date, which meant that we weren’t going to look at any offers until a certain date. And that date was, I believe, was a Tuesday of the following week. And we had six offers and ended up selling the house for a million. Wow. And we closed in April, this year, April 2020. So not bad for like a five, six month hold.

 

Bailey Kramer  5:51  

Yeah, so also right right before

 

Leka Devatha  5:54  

Kobe before everything. Yeah, yeah, absolutely.

 

Bailey Kramer  5:58  

Wow. That’s incredible. Wow. So to kind of take a step back, let’s start by, you know, how do you find the deal? Or where do you start? Great question mainly.

 

Leka Devatha  6:10  

So there’s many aspects that go into the fix and flip process, right? There’s a finding the deal, then there is once you find the deal, how do you analyze the deal, then you have to learn to write out a scope of work, which means what is the work that you’re wanting to do in this house that you can then give to a general contractor so that they can then give you a bid. Right? Then it’s about finding the right contractor to do the work. Then you need to put permits, if there’s structural work involved. Then once the works are done, there’s like staging and photography. You want to hire the best possible agent out there to represent you and this beautiful house, and then you put it back on the market and then you sell the house. So those are really just the different processes involved in a fix and flip With this project, I went with a wholesaler that I buy a lot of deals from. He doesn’t even like to blast the deals that he gets most of the deals he brings me off market so I’m not competing with 15 other buyers on market. So he brings me off market deals and when it comes from this wholesaler, I just know that it’s a good deal. And I prioritize walking the house with him over anything else. So then I went to the house with my contractor, we looked at it, we kind of analyzed what it would cost to fix it up. Now you guys I have done quite a few of these. I’ve done 40 flips on my own, but also to do those 40 flips. I have bought over four 500 homes. So when I walk into a house, I can pretty much tell what the scope should look like and what that should cost me. So the best way to do that is even for you is to just go and shadow people that are putting together scopes or shadow a general contractor or take a general contractor to a house. The city nonmarket sees how they analyzed and came up with the numbers on how much it’s gonna cost to fix it up. So once you have that, then you go go to the city and you pull permits and you say, hey city, this is you know, this is my as built, this is what I want to do. And I need a permit and foremost fix and flip it over the counter permits, so you should have your permit on the same day. So yeah, that’s it. And then you also I have worked with my same stager for six years now. So she understands my aesthetic. She knows that if I’m doing a mid century modern home that her staging needs to be different than if I’m doing it like a modern box. So, you know, make sure to find good stagers and good photographers that kind of know you and know what you want the outcome that you want. And yeah, and then it’s about you know, either you as a broker, you can list the house or you can hire a broker to list the house so you listen

 

Bailey Kramer  9:01  

Awesome, awesome. And, you know, there’s a lot that yes, that there’s a lot of there’s a lot that goes into that of course and first to clarify, can you just touch on what a wholesaler is? Yes,

 

Leka Devatha  9:13  

yes. So a wholesaler is someone that finds properties either on market or off market. They don’t fix the property themselves. Instead, they bring it to an investor like me. So they are just finding the deal and selling the deal. And those people are called wholesalers. There’s other ways of finding deals, you can do direct mail campaigns, you can door knock, you can use bandit signs. So I know typically a wholesaler does all of these, these different aspects of wholesaling.

 

Bailey Kramer  9:48  

Right, right. And, in the beginning, you kind of said, when you went to these properties, you were kind of using your contractors and other people to help you out with the estimates. Is there any other rule of thumb that peep that that you use or other people use with square footage or anything else?

 

Leka Devatha  10:06  

Yeah. Let me actually walk you through what goes into analyzing a deal, because that’s super important, especially when you’re starting out. Right? So first, there’s the purchase price. The purchase price is the purchase price. It’s what the buyer wants. Sometimes you can negotiate that down. Sometimes that’s just the price that you have to pay. Then there’s financing costs. So how do you find this deal? Right? Typically, I use a hard money lender. So the hard money lender says it covers 75% of the purchase and the rehab. By rehab, I mean, the fix up costs, and then either I fund the rest or I bring in a private lender to fund the rest. So say that I funded the rest, then do I have the rest of that money in this case in the deal that I just spoke about? That would mean I needed An additional hundred and 25 K. So that’s the money that I brought in, then there’s your monthly holding costs. Now, what kind of goes into this bucket is your property taxes, your HOA fees if there are any insurance costs, your utility costs. So there are all of those costs that you have to account for. Then there’s your buying transaction costs, which is your escrow and title your recording fees, some county taxes and then there’s your selling costs and your selling costs also include your realtor fees, you know, the Commission’s that you pay, your transfer and convenience fees, your home warranty costs, your staging costs, marketing costs, and most importantly, your excise tax cost. So just make sure that you are either putting together a deal analyzer to involve all of these costs, or you’re using someone else’s that’s already using this, this kind of spreadsheet because this should give you so when you do find a deal, you should just be able to plug in these numbers and say, Okay, this is a deal that either work for me or doesn’t work for me. For me personally, when I’m looking at a deal, I am always making sure that there’s at least 100 k spread. I don’t go cash on cash return because sometimes I don’t have any cash in the deal. So for me, it’s about having that hundred k spread like, Okay, if I bought it for this, and if I put in this much money, would I make 100 k in profit? And if I do, then that’s a good deal for me. But of course, when you’re starting out, it’s hard to come by these massive deals. So look for something that works for you. It could be 30 k could be 20 K, whatever. The higher the spread, obviously, the lesser your risk.

 

Bailey Kramer  12:42  

Right, right. And where could someone get a calculator analyzer that you were kind of referring to?

 

Leka Devatha  12:48  

I would just say, I mean, reach out to Bailey Bailey, I can give you mine. I’m happy to share it. You can, you know, share it on the podcast notes. But there’s a dozen different calculators available on Google. So just go in there and see, you know, like the calculator that I started using back in 26 2014. I have morphed it to now, you know, kind of show what I want at this point, you know, your lending costs change, your staging costs change. So really make it so that it’s your own.

 

Bailey Kramer  13:23  

Right? So then after you analyze the deal with, you know, a calculator, and yes, you you, you like the deal enough to maybe take a step further, where do you kind of go then,

 

Leka Devatha  13:36  

so you basically tell your wholesaler that or your broker or whoever you’re buying the deal or directly to the seller, you say, hey, I want to go forward, I want to buy this deal. Then you give them an earnest money check, which means that you are now on a contract. And then based on your lender, it could take like anywhere from two weeks to a month to close the nucleus. On the deal, and you get started with the whole fix up process. So you can start by getting your permits, you can start by putting all your material costs together. That’s kind of where you go.

 

Bailey Kramer  14:14  

Gotcha. And some people that are really handy decide to fix a lot of the things themselves. But for the people that say, I need to hire someone, what’s where do you even start with that?

 

Leka Devatha  14:27  

Yeah, so I always have hired a licensed and bonded general contractor. Because then there is no liability on you as the property owner. So that’s a huge tip, make sure that you’re always covering your bases. So then, to find the general contractor, I typically go out to my network and say, Hey, network, who are you using? Who do you recommend? This is my project. This is the size of my project. It’s in this kind of a neighborhood is it either mid level or high end. And based on that, you know, I get referrals and I interview these contractors to make sure that we are aligned on the same work ethic. And that’s really and then I also am huge about seeing these contractors like prior work, either photos or projects that they’re actively working on. Because for me, ultimately, I’ll never hire a contractor that has no experience. That’s a big No, no. And they need to have at least three or four homes that they’ve done from start to finish. So that they’re not like burning out on their first project and kind of trying this on me. Yeah, so hire an experienced contractor. And,

 

you know, make sure that they’re licensed. Definitely.

 

Bailey Kramer  15:51  

So you hire your contractor. Yes, you’re doing the renovations. What role does the investor What role do you have While the contractors are, you know, putting things together, yeah,

 

Leka Devatha  16:04  

that’s a good question. So as an investor, I pretty much control everything, except from actually doing the work. Like I control what my floor plan needs to look like. I control everything coming from the ark, like I go to my architect, sit down and actually drop floor plans to make sure that it’s meaningful for who my buyer pool is right? Sometimes you’re fixing up a house in a family neighborhood. Sometimes it’s more like a first time buyer neighborhood. Sometimes it’s like, like a condo in downtown Seattle, which is more like a single person focused. So depending on who your buyers ultimately are going to be, you need to make the floor plan accordingly. And then I pick all my finishes. I have to design every bathroom, every kitchen. No two of my houses are the same. I am juggling not fixing them. The person that says these are the doorknobs these are the cabinets. This is the tile. Every single house is designed differently. Because I just at the end of the day, I like having fun with it. So I actually put in the coolest light fixtures, the coolest little touches. Even my appliances are like either black or like they have something cool going on. So I love cedar blocks. Island countertops, you know a little difference that you can bring to your house to make it look different and above the other flips in the neighborhood. That’s gonna ultimately get you more money too, because you’re making it so caillard and so pretty. So I pick everything. And then from that I even dictate how quickly I want the work done right? With a fix and flip Time is of the essence. And you want to make sure that your project is going like fast and on time so that you can put it back on the market and you can turn your money around faster. It is not accidental that you’re going to keep for years this is you want to be in and out within three to five months. So making sure that my screws come to show up at work every day. You know, they’re banging it out and really like keeping everybody on task. You’re really like a puppet here trying to manage all these different aspects, you know, you have to make sure your electricians on board your plumbers on board, your h max on board your flooring, guys, you know, your roofer, like everything has to be scheduled, and everything has to be on time. And it’s gonna take a while to get there. So don’t be overwhelmed. Do a couple projects, and then you kind of figure the process out yourself.

 

Bailey Kramer  18:48  

And I don’t know you have, you know, that you’d have, you have a process established after 40 flips that you’ve done, but kind of starting out. How much time did you spend because you’re kind of like The puppeteer kind of pulling the strings, but how much time did you actually spend per week or per day at the property or doing things for the property.

 

Leka Devatha  19:10  

So when I first started my journey, I would say I was at the, my very first project, I was there like, three out of seven days. Because I also didn’t know anything about construction. So it was important for me to understand what came after what, like first you do the demo and trash out, then you do your framing, then your installation, then your plumbing and your electrical, then your h HVAC. So it’s important to understand what that process or construction process is. And if you have no background, it’s super important to actually show up at a job site and see what your contractors are up to. Once you get a season like at one point, I was doing eight flips in one time. There’s no way I could be at all of these eight projects every day. So I could actually take a step back and Maybe visit the projects every couple of weeks. But I was, you know, more experienced and kind of knew what I was doing. So I could pick up the phone, I could FaceTime with my contractors and I’d be okay. But initially my first one or two or even my third project, I was there a lot. And it helped. It really helped.

 

Bailey Kramer  20:20  

Right? What are some pieces that you know, you as the investor need to put in place while you know the construction is still going on? Is that the time where you find someone to stage the house? You know, kind of what other pieces besides pulling the strings of the contractors?

 

Leka Devatha  20:37  

Yeah, um, so yeah, you could get your stager in there when you’re towards the end of the project so that they can see the finishes that you’re using. And kind of you know, figured out the staging plan based on that on how the house is ultimately going to look. Another important piece that you know, I should have mentioned before even going into construction is finding a really good The lending partner, because, you know, financing is a huge part of any deal. And for me, it was all about, you know, having a partner that supported me, in turn in case of adversity, like, say I was in the middle of a project, and then the pandemic hit is your lender going to flip out on you is your lender going to give you a break on your extension points. So it’s important to find a partner that’s not going to nickel and dime you, but also someone that understands the whole process and is flexible and is willing to partner with you. I have partnered with my lender, which is certain lending. They are a FinTech company out of California, and I have done over 1520 deals with them. So like we have a really good relationship where they get me they understand that I’m experienced that I’m not gonna just, you know, throw my hands up in the air and say I’m done with this fly by Not gonna do it or take the money from one flap, go, go go buy a car, you know, I’ve seen people do that. So it’s like a give and take relationship. And it’s like you’re almost like you’re dating, right? Because you have to have each other’s backs. So I would say, certainly go find a really good lender to partner with, when you’re first starting out, your lending piece can cost you a bit more money, because obviously you have no experience. And it can you know, that it’s a higher interest rate higher points. But as you start to gain experience, you can actually negotiate that noi and lower and lower, so have a good lending partner,

 

Bailey Kramer  22:41  

right? Because when you start you’re a little bit more risky than someone who’s done it right. A bunch of times.

 

Unknown Speaker  22:47  

Right, exactly.

 

Bailey Kramer  22:49  

That makes sense. So then, you know, the lending pieces put in place before this, but anyways, you’re nearing the end of construction, you’re finished concrete. auction. Yeah, kind of what kind of takes place there.

 

Leka Devatha  23:03  

Okay, so when you’re almost done with construction , always make sure to get your final inspections done by the city and they have to give you your final permit. Once you have your final permit, you’re good to go and you’re good to put the house back on the market. So then you have your stager come on stage in the house, you have a photographer, I have drone shots done on all of my projects, because it’s just really cool for someone to see what the house looks like. Especially if there’s proximity to water or view or like something cool. Like I want to showcase that. So have amazing photographs because photos tell a story. And then you either like me as a broker or another broker that I hire, we put the house back on the market and we start marketing the house. Typically in my area, we’re really you know, hard pressed for inventory. And so our days on the market are pretty short. We’re able to sell a house within the first three or four weeks. So listing the property, it’s pretty awesome. And then it takes about a month for the property to go through escrow. So the buyer’s lender has to come in, escrow needs to set it up, they have to transfer title. So all of that takes about a month. And so you should be closed in about a month after putting the house on the market.

 

Bailey Kramer  24:18  

Awesome. And is there any difference between the strategies or maybe some procedures between fix and flip and if you’re just selling a house, because you know, when you’re fixing flipping, you said time is money. And if you’re selling your single family, of course, you probably want to get out of there. But is there any difference between the processes or is it generally the same?

 

Leka Devatha  24:41  

Uh, you mean off listing and then selling the house? Yeah, I would say it’s pretty much the same. If it’s a single family house that someone’s lived in, you probably want to fix it up just a little bit like you know, take care of some pain, pain, carpet, like, get the house clean, vacuumed, whatever. But other than that, It’s really the same whether you’re listing a flip or a single family home, there’s no difference. You’re gonna market both to the best of your ability.

 

Bailey Kramer  25:08  

Yeah, definitely. Definitely. And are there any? You know, I could imagine that every flip that you do you walk into a brand new layout of a house. There’s new things popping up all the time, or maybe a few things where Yeah, you get excited, you get really excited when you see.

 

Leka Devatha  25:28  

Ah, for me personally, it’s about, you know, finding homes with a good floor plan. two bedrooms and a kitchen on one floor is always a slam dunk. But also, I like finding creative exit strategies. So if there’s a potential to add a mother in law in the basement or behind the house, or add in an accessory dwelling unit and Edu on the property, or if the house is on a large lot, and I’m able to subdivide that lot. You know, things like that are things that get me excited because it’s like adding additional value and equity where there were other people cannot. But in terms of finding a flip deal that always works for me. I would say anything with old world charm that I’m able to really fix up to make it look and feel new. But keep some of that old integrity there’s a lot of charm for that there’s not there’s not a lot of homes that you can do that with so I would definitely like look for something charming. A good quiet street is always a plus. And I also only buy homes in good school districts. So that’s another big bonus. So yeah, I mean, you know, always look for a median price point home in the neighborhood. Don’t go for the top, the high end. Right. Those are harder to sell.

 

Bailey Kramer  26:57  

Yeah, so yeah, with that, I was gonna say whatever. Three are a few things that are big No, no. So really expensive. Top of the line for that neighborhood. What are some factors?

 

Leka Devatha  27:08  

busy streets? Those are a big no no. like buying right next to the freeway or the cemetery, like you know, those are just harder to sell. I would say if it’s a super large house in a neighborhood where homes are generally 2000 square feet, but then you have this house that is about 5000 square feet. Again, it’s a harder sell. So just sticking with something that is common to that neighborhood, would you get the best result?

 

Bailey Kramer  27:41  

Gotcha. Where are you headed in in the fix and flip or your future in real estate right now?

 

Leka Devatha  27:47  

Yeah. So a few years ago, I started buying more rentals, doing more burgers. So I think for me, I’m going to continue to add rentals to my portfolio. really interested in self storage. So that’s my next asset class that I want to dominate. So that’s where I’m headed, you know, finding different asset classes that I don’t know much about that I want to learn about. So either apartment investing like large scale, you know, multi unit apartment building, or self storage. Our shopping centers are exciting, so few things, but I think I’m most leaning towards self storage.

 

Bailey Kramer  28:28  

Awesome. And that’s what’s so exciting about real estate. There’s so many different asset classes. Oh, boy. Yeah, whole and a whole new set of skills need to be learned for each one, which is just awesome. You can, you know, Master one or really nail one down. And, you know, you might be an expert and really good at that one. But there’s so much to learn if you decide to move on. That’s awesome.

 

Leka Devatha  28:50  

Yeah, yeah. And I’m one I’m a big believer of just like learning something new every day, something new every year. So for me, it’s like, you know, doing one thing and doing a lot of it just gets boring. So yeah, yes, continue to learn and grow.

 

Bailey Kramer  29:05  

For sure. For sure. Yeah, is there any last thing you want to touch on about fix and flips before we move on to the next section,

 

Leka Devatha  29:13  

they are so fun, every project can be made your own. No two projects are the same. And then ultimately, like, you will see that you know, our house, like there’s only so many problems our house can have, and those problems are easy to solve. So fix and flip is just such a fun and exciting aspect of real estate investing for me, because it’s also fast paced, and it’s, you know, it’s a quick way to learn the investing game. So, I mean, I’m just a big fan. I’m always gonna do a fix or flip like, you know, every year. Awesome, awesome.

 

Bailey Kramer  29:54  

So we’re now going to move on to the next section of our show, which is the big four where we ask all of our guests the same four questions. So number one, like what’s your number one habit for success?

 

Leka Devatha  30:04  

You know, I think I have always pursued my own goals. And that’s been my success story. I have lofty goals and lofty goals lead to big successes. So if you can keep making your goals bigger and harder to attain, then you know your success is going to be that much sweeter.

 

Unknown Speaker  30:25  

Awesome.

 

Bailey Kramer  30:28  

And number two, limiting beliefs or thoughts in our heads that hold us back from realizing our potential. What is one limiting belief that you were able to crush and how did that impact your life?

 

Leka Devatha  30:38  

Okay, so my biggest limiting belief when I first started was that I am a woman trying to enter this heavily male dominated industry. And I just, I figured, like, why would I ever see the right ideas or find the right money or find success? More than my main concern? Are parts. So that was something that I had to overcome as a woman. And I mean, now after all these years, I can say that I absolutely crushed that belief. I think I’ve done pretty good. And I’ve been pretty successful. And it doesn’t matter whether you’re a man or a woman. In fact, it has worked to my advantage that I’m a woman that people respect me. The cities and inspectors are much nicer when they know that there’s a woman behind the project. So it’s actually worked to my advantage. It’s pretty awesome.

 

Unknown Speaker  31:33  

That’s great.

 

Bailey Kramer  31:36  

And number three, what advice would you give to someone who’s considering actively or passively investing in their first real estate deal?

 

Leka Devatha  31:45  

Okay, so you guys, this is a huge ninja tip. You don’t have to spend money to make money. Okay? What I mean is that you don’t have to go sign up for every course out there. You don’t have to buy every book out there. Okay. There’s a lot of free information. There’s a lot of really cool podcasts like Bailey’s podcasts, like Go listen to the BiggerPockets podcasts. You there’s just so much information. So dive in. And you know, first go see what’s out there that you can learn from. Another important thing is find an experienced investor in your market that is doing what you want to do, and bug them till they let you shadow them. Okay, because hands on experience is the best experience. And nothing that anyone puts together in a PowerPoint or, you know, teaches you in a book can Trump that? So I would say hands on experience. See, right, that’s,

 

Bailey Kramer  32:42  

yeah, and something that’s, you know, crazy to think about, because a lot of people and I thought this too, previously, is, well, I’m just gonna do it on my own. But when you really think about it, there’s plenty of people out there who have been doing fix and flips for a while and fix and flip isn’t a brand new concept. So, you know, you might as well, you know, just kind of learn the basics. Yeah. And the structure and that way, you’re able to excel your growth.

 

Unknown Speaker  33:10  

Yeah, so true.

 

Bailey Kramer  33:13  

And number four, what is your favorite real estate business or personal development related book?

 

Leka Devatha  33:19  

Okay, so I read a lot of books and so it’s ever changing. But I feel like when you’re first starting out with any book by Brandon Turner, because he just has this way of taking complex aspects and really simplifying it. So I would say like the book on rental property investing, that’s like one of my favorites. For like, a personal development book, I would say, read mindset by Carol Dweck. She talks a lot about growth mindset versus fixed mindset. And when we’re first getting into any new thing, all of us have this is just natural. We have a fixed mindset. So It’s important very early on in any career that you’re looking to get into, to have a growth mindset, to be open to ideas, to be open to challenging yourself. So mindset is just a really good book to start

 

Bailey Kramer  34:13  

to start to check that book out. Yeah, it’s awesome. Yeah. Awesome. Like, Where can the listeners get ahold of you?

 

Leka Devatha  34:20  

So I’m on LinkedIn. I’m also on Instagram. It’s L-e-k-a-a-a-a-h. 

 

Bailey Kramer  34:33  

Alright, awesome. Well, like it was an absolute pleasure having you on the show today. I’m sure the listeners learned a ton. I even learned a ton about fixin flips. So thank you so much for adding so much value.

 

Leka Devatha  34:43  

Thank you, Bailey, thank you so much for having me. And I’m so proud of you. You inspire me.

 

Unknown Speaker  34:50  

Thank you.

 

Outro  34:51  

Thank you for listening to the Real Estate Investing Made Simple podcast. For more resources or to connect with us further, please visit Visit our website, http://www.baileykramer.com. We’ll see you next time.