MB 168: MAKE the Time for Multifamily & Quit Your W-2 Job – With Anna Kelley

Don’t think you have the time to start investing in multifamily? Anna Kelley is a wife and mother of 4 who worked a demanding full-time job AND built a real estate portfolio on the side, working 82 hours a week for nearly 5 years. She argues that sacrificing your time for a couple of years to buy yourself decades of financial freedom is well worth it. But you’ve got to be willing to take consistent action—even when it’s hard. Anna is a seasoned real estate investor with a rental portfolio valued at $12.5M. She is also an Amazon bestselling author and sought-after speaker in the realm of buy-and-hold investing, creative financing, vacation rentals, women in real estate, and multifamily investing. Anna has coached several new investors through their first deal, and she is dedicated to educating others on the benefits of multifamily real estate investing. Today, Anna joins me to discuss how she executed on a 5-year plan to quit her job with real estate investing. She shares her new emphasis on work-life balance, explaining how she is still working hard but making time to focus on her health and family. Anna also offers insight on why she struggled with the decision to quit her job and how that uncertainty inspired her to joint venture and scale up. Listen in for Anna’s advice around finding partners with complementary skills and learn how to MAKE the time to achieve financial freedom! Key Takeaways How Anna’s life has changed since quitting her job No less busy (12-hour days to close on 2 properties) 2-week vacation for first time in years Anna’s new emphasis on work-life balance Consistent time for self-care + focus on health Slow, methodical growth of multifamily business Why Anna questioned the decision to quit her job Background as financial advisor, predict recession Job at AIG ‘sole lifeboat’ for family through crash How Anna got started investing in real estate Clients with most money = real estate investors Protectionary investments to cover expenses (2007) Bought small multifamily in 2008 with rest of 401(k) Anna’s five-year plan to replace her income Refinance 12-units in 3 buildings already owned Line of credit + equity loan to buy foreclosures Research seller financing, buy 4-unit buildings Anna’s decision to scale up to larger multifamily properties Reached goal to replace income ($5M in assets) Wanted 6 months of expenses for buildings + year of salary Met partners at event, found 73-unit off-market property Anna’s investing advice for her younger self Still buy small properties for long-term stability Invest with others sooner, focus on finding deals Anna’s strategic approach to syndicating deals Target properties in 2-hour radius where know market Expand to other markets once comfortable with process Anna’s advice around joint venturing Find experienced investor with aligned goals Look for someone with complementary skill set Anna’s insight for aspiring multifamily investors Be prepared for initial investment of time Got for it but be wise in who partner with Anna’s response to the lack of time argument You make time for what’s really important 82 hours/week for 4 years with few breaks How Anna got through the difficult times Change way you get there or timeline, not goal itself Develop resilience and do whatever it takes Connect with Anna Rei Mom